Rational Aktiengesellschaft · XETR:RAA
Rational Aktiengesellschaft — Rational — Shareholder Meeting (May 2022)
33 slides from Rational Aktiengesellschaft's shareholder meeting presentation, May 4, 2022
Slide 1: Fast. Precise. Versatile. Consistently enhanced.
Fast. Precise. Versatile. Consistently enhanced. General Meeting of Shareholders of RATIONAL AG Landsberg am Lech, 4 May 2022
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Slide 3: Slide 3
Slide 4: Customer benefit that exceeds all expectations
Customer benefit that exceeds all expectations 4
Slide 5: With the U.i.U. philosophy
With the U.i.U.® philosophy Make decisions, assume responsibility
Slide 6: Very high level of customer satisfaction
Very high level of customer satisfaction RATIONAL “Best in Class” with Net Promoter Score of 61 0 Source: -20 +20 B2B International (2021) – in 15 markets with RATIONAL AG -40 +40 -60 +60 -80 +80 -100 +100 RATIONAL +61 Food and beverage industry average +37 Manufacturing industry average +30 B2B cus
Slide 7: Review of 2021: The first quarter brings highs and lows
Review of 2021 The first quarter brings highs and lows. › Coronavirus is still causing contact restrictions. Many restaurants are still closed and events are not possible or only in Q1 a restricted form. Vaccinations are not yet available. Q2 › Supply bottlenecks are beginning to emerge. › RATIONAL
Slide 8: Review of 2021: The second quarter promises hope of normality
Review of 2021 The second quarter promises hope of normality. › Gradual openings and vaccination campaigns begin. Q1 › Investment catch-up effects and, in some cases, massive stimulus packages support demand in our industry. Q2 › The supply situation seems to ease in the short term, but then progres
Slide 9: RATIONAL inaugurates sustainable dispatch building
RATIONAL inaugurates sustainable dispatch building … … after just 18 months of construction work! 9
Slide 10: Review of 2021: The third quarter focuses on new challenges
Review of 2021 The third quarter focuses on new challenges. › The order situation is steadily improving and exceeds the pre-crisis level. Sales revenues are also almost at the level of 2019. Q1 › Material bottlenecks, logistics problems and drastic price increases in procurement are Q2 intensifying.
Slide 11: The new gold
The new gold I/O board (input/output board) and central processing unit (CPU) 11
Slide 12: Active Green – the green cleaner – now also for older appliances
Active Green – the green cleaner – now also for older appliances No compromises on cleaning power and hygiene › Eco-friendly: phosphate and phosphorous- free, and free from microplastic particles. › Strong cleaning power: Perfect hygiene with a minimum number of cleaning tabs. › Resource-efficient:
Slide 13: Review of 2021: Sharp brake on sales revenues in fourth quarter
Review of 2021 Sharp brake on sales revenues in fourth quarter from material bottlenecks › We record over 1 billion euros in orders by the end of 2021. Q1 › Delivery times become increasingly longer – delivery dates are harder and harder to predict. Q2 › Sharp increases in material and logistics cos
Slide 14: Headcount – key element for rapid recovery
Headcount – key element for rapid recovery Slight increase in the number of employees in 2021 2,258 2,248 We employ 2,248 U.i.U.s at the end of the 2,113 2,180 year. 1,884 1,713 Our U.i.U.s appreciate that we also stood by them in the crisis in 2020. Our trained and experienced employees were a succ
Slide 15: Outlook – investments in Wittenheim
Outlook – investments in Wittenheim The new home of the iVario › Construction of the new customer centre, the administration building and the production facility began in April 2021. › Total investment volume by 2023: around 31 million euros. › The new energy-efficient building allows us to create a
Slide 16: Why we will remain successful
Why we will remain successful Crises also create new opportunities – we will use them. › Huge untapped market potential for the iCombi (3.6 million kitchens) and the iVario (1.5 million kitchens) will ensure steady demand in the coming years. › The growing shortage of skilled staff in the catering s
Slide 17: Marketing
03.06.2022 \ Company presentation \ Marketing 17
Slide 18: An eventful fiscal year
An eventful fiscal year The year in figures
Slide 19: Sales revenue performance 2016 - 2021
Sales revenue performance 2016 - 2021 Rapid recovery through 20% growth compared with previous year 844 778 780 702 650 613 +9% +15% +11% +9% -23% +20% 2016 2017 2018 2019 2020 2021 Sales revenue in m EUR Sales revenue growth in % 19
Slide 20: Sales revenue performance by quarters 2019 - 2021
Sales revenue performance by quarters 2019 - 2021 Q2 and Q3 back on track - Q1 and Q4 challenging Sales revenues in m EUR 231 212 213 207 205 194 193 181 183 168 168 117 -7% -7% -43% +81% -21% +23% -21% +6% Q1 Q2 Q3 Q4 2019 2020 2021 20
Slide 21: New orders and sales revenues 2021 by quarters
New orders and sales revenues 2021 by quarters High level of new orders leads to high orders on hand. ~€300 million ~€55 million Q1 Q2 Q3 Q4 New orders Sales revenues Orders on hand 21
Slide 22: Sales revenues by region
Sales revenues by region Growth in all regions – Asia, Germany and the rest of the world above 2019. 377 Europe North America 337 159 295 140 Asia 112 120 102 123 +11% -29% +25% +14% -15% +20% 2019 2020 2021 2019 2020 2021 +7% -22% +14% 2019 2020 2021 Latin America Germany Rest of the world 47 100 1
Slide 23: Both product groups with comparably good growth rates
Both product groups with comparably good growth rates iVario with new record in sales revenues iCombi sales revenues iVario sales revenues 769 698 581 75 69 81 +8% -25% +20% +13% -7% +18% 2019 2020 2021 2019 2020 2021 Sales revenue in m EUR Sales revenue growth in % 23
Slide 24: Non-appliance sales revenue performance 2016 - 2021
Non-appliance sales revenue performance 2016 - 2021 Cleaning agents, spare parts and accessories stabilise business: 28.5% share 223 222 201 178 179 154 +12% +15% +13% +11% -20% +24% 2016 2017 2018 2019 2020 2021 Non-appliance sales revenues in m EUR Non-appliance sales revenue growth in % 24
Slide 25: Dynamic increase in raw material prices over the year
Dynamic increase in raw material prices over the year Cost pressure on suppliers and RATIONAL steadily increasing. Price development1 Apr. 2018 to Mar. 2022 220% › Price increases in many areas such 200% as alloy surcharge, chemicals and 180% plastics. 160% › RATIONAL has raised prices since 140% No
Slide 26: EBIT margin 2016 - 2021
EBIT margin 2016 - 2021 EBIT up by 50% to 160 million euros, EBIT margin of 21%. +50% +13% +8% +9% +4% 107 167 188 205 223 160 27% 27% 26% 26% 21% -52% 16% 2016 2017 2018 2019 2020 2021 EBIT in m EUR EBIT change in % EBIT margin in % 26
Slide 27: Targeted investments for growth and efficiency
Targeted investments for growth and efficiency Building investments will be postponed in part until after 2022. 43 40 40 31 30 29 25 25 26 14 12 10 2016 2017 2018 2019 2020 2021 Depreciation/amortisation in m EUR The years 2019 and following include depreciation of around 9 million euros resulting f
Slide 28: Solid balance sheet provides security and flexibility
Solid balance sheet provides security and flexibility High equity ratio and liquidity in m EUR 2021 2020 Non-current assets 219 217 Inventories 97 79 Trade receivables 109 99 Other assets 105 45 Liquid funds 254 231 Total assets 784 671 Equity 603 535 Non-current liabilities 34 34 Current provisions
Slide 29: RATIONAL's performance is more volatile than the market as a whole
RATIONAL’s performance is more volatile than the market as a whole Long-term growth story still intact. Turn of the year January 2021 2021 and 2022 to April 2022 140% 4500% 130% 4000% 3500% 120% 3000% 110% 2500% 100% 2000% 90% 1500% 80% 1000% 70% 500% 60% 0% Jan-21 Mar-21 May-21 Jul-21 Sep-21 Nov-21
Slide 30: Proposed dividend for 2021
Proposed dividend for 2021 7.50 euros plus a special dividend of 2.50 euros. Earnings per › Special dividend will partially share compensate for a reduction in the 15.09 13.84 dividend in 2020 due to the 12.58 coronavirus. 11.18 10.88 2.00 › Regular dividend of 7.50 euros per 2.00 9.50 2.50 8.80 sha
Slide 31: Outlook for 2022: The current fiscal year continues to be challenging
Outlook for 2022 The current fiscal year continues to be challenging … › For 2022, we see no fundamental change in the current challenges. › A further high level of new orders is leading to new highs in orders on hand. › Volatility both in procurement and logistics remains very high. › The inflation
Slide 32: Outlook for 2022: 2022 forecast confirmed
Outlook for 2022 2022 forecast confirmed. › We expect to be able to increase sales revenues by 10 to 15%compared with 2021. › We expect the gross margin to be at the level of 2021. › With operating costs rising at a slower rate than sales revenues, we expect an EBIT margin slightly above the previou
Slide 33: The original file is always leading
The original file is always leading. In this case it is the German presentation of the Annual General Meeting 2022.