Rational Aktiengesellschaft · XETR:RAA
Rational Aktiengesellschaft — FY2018 Earnings Presentation
22 slides from Rational Aktiengesellschaft's earnings presentation, Mar 14, 2019
Slide 1: A different kind of inspiration
A different kind of inspiration For the professional kitchens of the world Telephone Conference – Fiscal Year 2018 14 March 2019
Slide 2: Customer testimonial: Matthias Stuber, Roomers
“Whether at IZAKAYA or in our other kitchens, in order to achieve the best possible quality, we continuously rely on RATIONAL appliances in all our kitchens.” Matthias Stuber Executive Chef of Roomers 2
Slide 3: Customer testimonial: Sapore
SAPORE “RATIONAL creates safe processes — so that we can serve 1.3 million meals daily.” Daniel Mendez President of Sapore 3
Slide 4: Awarded as Germany's best company canteen
Awarded as Germany‘s best company canteen “We want our colleagues to be able to experience every day why we inspire professional chefs around the world.” Andreas Deyerler Head of the RATIONAL company restaurant 4
Slide 5: High employee engagement – worldwide
High employee engagement – worldwide Confirmed by the U.i.U.® Compass 2018 5
Slide 6: Expansion of production capacity in Landsberg am Lech
› Expansion of production capacity in Landsberg am Lech › Additional 16,000 square meters space › Enough capacity for the growth of the coming years 6
Slide 7: Grow/together RATIONAL and FRIMA
Grow/together RATIONAL and FRIMA
Slide 8: RATIONAL and FRIMA combined: Strategic objective
RATIONAL and FRIMA combined Strategic objective › Efficiency benefits by using the already exisiting RATIONAL distribution infrastructure for the VarioCookingCenter® › Successful entry of the VarioCookingCenter® into new markets › Use RATIONAL as a strong brand to penetrate the market of the VarioCo
Slide 9: RATIONAL and FRIMA combined: Implementation
RATIONAL and FRIMA combined Implementation › Worldwide brand change of the VarioCookingCenter® to RATIONAL › More than 250 training and project days were carried out › More than 260 RATIONAL employees were actively involved in the brand merger › Company changes affected employment contracts, change
Slide 10: 2018: A successful fiscal year
2018: A successful fiscal year Facts and figures
Slide 11: The foodservice industry: A growing industry
The foodservice industry A growing industry › B2B versus B2C › Continued high level of propensity to invest › Industry structure mainly unchanged – only a few newcomers or takeovers › Competition grows mostly through acquisitions › RATIONAL with strong organic growth 11
Slide 12: Worldwide success 2018: High growth in North America
Worldwide success 2018: Disproportionate high growth in North America Germany (+ 8%) North America 12% (+ 26%) 18% 45% Europe (+ 7%) 14% Asia (+ 15%) (excluding Germany) Latin America 6% (+ 6%) Rest of the world 5% (+ 1%) 12
Slide 13: Organic growth 2018: 11% sales revenue growth
Organic growth 2018: 11% sales revenue growth, currency-adjusted 13% 778 702 613 564 497 461 +15% +6% +8% +14% +9% +15% +11% 2013 2014 2015 2016 2017 2018 Sales revenue in m EUR Sales revenue growth in % 13
Slide 14: Good performance in both product segments
Good performance in both product segments VarioCookingCenter® with exceptional growth Sales revenues combi-steamers Sales revenues VarioCookingCenter® +10% 712 646 +14% 58 66 2017 2018 2017 2018 Sales revenues in m EUR Sales revenue growth in % 14
Slide 15: Substantial share of after-sales-business
Substantial share of after-sales-business Gaining more and more importance Share of total sales revenues 26% Extensive accessories Care products Service parts
Slide 16: High EBIT margin level
High EBIT margin level 2018: EBIT margin above 26%, currency-adjusted about 27% +9% +13% +13% +10% +4% +5% 128 145 160 167 189 205 m EUR 29% 28% 28% 27% 27% 26% 2013 2014 2015 2016 2017 2018 Change in % EBIT margin in % 16
Slide 17: High operating cash flow despite record investments
High operating cash flow despite record investments Business model with low capital intensity and a lean supply chain 143 146 144 129 112 103 -8% +9% +27% -9% +13% -1% 2013 2014 2015 2016 2017 2018 Operating cash flow in m EUR Growth compared to previous year in % 17
Slide 18: Targeted investments for growth and efficiency
Targeted investments for growth and efficiency Investment in employees, infrastructure and products 43 40 25 19 17 14 12 12 9 10 7 8 2013 2014 2015 2016 2017 2018 Capital Investments Depreciation / amortisation in m EUR 18
Slide 19: Dividend increase for ten consecutive years
Dividend increase for ten consecutive years More than 70% payout ratio on average Earnings per share Fiscal year 2018 13.84 12.58 › 9.50 euros dividend per share* 11.18 10.71 › About 70% payout ratio* 9.50 9.68 8.80 › Basic dividend up by 8% compared to 8.55 8.00 previous year 7.50 6.80 6.00 In the
Slide 20: Positive megatrends for RATIONAL
Positive megatrends for RATIONAL That is how the world of tomorrow lives › Worldwide growth of populaton › Varying catering loations › Increasing purchasing power in developing countries › Demand for healthier nutrition and a wider range of dishes › Increasing share of single households › Increasing
Slide 21: Outlook 2019
Outlook 2019 Continuation of good business development expected High single-digit sales and sales revenue growth Gross margin of close to 60% EBIT increases roughly proportional to sales revenues FY today 2019 EBIT margin of about 26% DSO of about 47 days Equity ratio of about 75% Investments of abo
Slide 22: RATIONAL
RATIONAL
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