Rational Aktiengesellschaft · XETR:RAA
Rational Aktiengesellschaft — Rational — 9M 2021 Earnings Presentation
21 slides from Rational Aktiengesellschaft's earnings presentation, Nov 3, 2021
Slide 1: Earnings Call – 9M 2021
re-imagined re-invented Earnings Call – 9M 2021 Landsberg am Lech, 03 November 2021
Slide 2: Key figures 3M 2021
Key figures 3M 2021 207 mEUR +23% 55% 24% Increase in Gross EBIT Sales revenues sales revenues margin margin 69 mEUR 5 mEUR 76% 307 mEUR Operating Equity cash flow Investments ratio Liquidity 2
Slide 3: Third quarter up 23% and slightly below pre-crisis level
Third quarter up 23% and slightly below pre-crisis level Sales revenues per quarter 231 212 213 207 205 194 181 183 168 168 117 +12% -7% -7% +6% -43% +81% +9% -21% +23% +7% -21% Q1 Q2 Q3 Q4 Sales revenues in mEUR Sales revenues growth in % 2019 2020 2021 3
Slide 4: Key figures 9M 2021
Key figures 9M 2021 586 mEUR +26% 56% 23% Increase in Gross EBIT Sales revenues sales revenues margin margin 145 mEUR 16 mEUR 76% 307 mEUR Operating Equity cash flow Investments ratio Liquidity 4
Slide 5: Sales revenues 9M 2021 by region
Sales revenues 9M 2021 by region Asia and DACH top pre-Covid19 level of 2019 North America 272 Europe 259 Asia 117 257 104 103 92 83 210 74 84 71 +12% -29% +24% +17% -24% +29% 9M 2018 9M 2019 9M 2020 9M 2021 9M 2018 9M 2019 9M 2020 9M 2021 +6% -23% +23% 9M 2018 9M 2019 9M 2020 9M 2021 Latin America
Slide 6: iCombi up 25% - iVario grows by 34%
iCombi up 25% - iVario grows by 34% iCombi and iVario set new standards in the markets Sales revenues iCombi Sales revenues iVario 559 -25 % +25 % 526 421 -17 % +34 % 54 60 45 9M 2019 9M 2020 9M 2021 9M 2019 9M 2020 9M 2021 Sales revenues in mEUR Sales revenue growth in % 6
Slide 7: Order backlog increased even further in Q3
Order backlog increased even further in Q3 Record levels of order intake 450% 1. Catch-up effects: Continuing 400% investments in projects due to 350% normalisation in the hospitality 300% industry. 250% 2. Higher delivery times: Dealers and 200% customers preorder to counteract 150% existing or exp
Slide 8: Order and delivery situation
Order and delivery situation Global raw material and component shortage affects our business › Since March we are actively managing the shortage of raw material and components with high effort in purchasing, production, logistics and R&D. The supply of units was working quite successfully with longe
Slide 9: Drastically rising prices for raw materials
Drastically rising prices for raw materials Price increases by suppliers prompt RATIONAL to adjust prices Alloy surcharge development › Gross margin in 2021 negatively Jan. 2017-Sept. 2021 impacted by higher COGS compared to 180% 2019. › Volatility in the steel market continues to 160% increase. 140
Slide 10: Further margin improvement in 9M 2021
Further margin improvement in 9M 2021 High sales growth with stable operating expenses 2021 vs. 2020 › COGS: Improved productivity compared to the launch phase in mEUR 9M 2021 9M 2020 9M 2019 Change Margin Impact in 2020. sales revenue 586 466 613 +26% --- COGS -258 -209 -251 +23% +1% Gross Profit 3
Slide 11: EBIT doubles year on year
EBIT doubles year on year EBIT margin at 23% +108% +21% +14% +7% 132 142 159 64 134 26% 25% 26% -51% 23% 14% 9M 2017 9M 2018 9M 2019 9M 2020 9M 2021 EBIT in mEUR EBIT growth in % EBIT margin in % 11
Slide 12: Solid balance sheet provides security and flexibility
Solid balance sheet provides security and flexibility High equity ratio and liquidity in mEUR 9M 2021 9M 2020 Non-current assets 216 212 Inventories 77 79 Trade receivables 117 101 Other assets 44 53 Liquid funds 307 201 Total assets 761 646 Equity 581 501 Non-current liabilities 35 33 Current provi
Slide 13: Stable headcount important building block for quick recovery
Stable headcount important building block for quick recovery Further headcount increase in Q3 (+30 employees) › Keeping the qualified and motivated 2,258 2,180 2,216 team during the crisis enables us to 2,113 recover quickly. 1,884 1,713 › Short-time work ended in almost all 1,530 areas of the compa
Slide 14: Customer satisfaction @ RATIONAL
Customer satisfaction @ RATIONAL Survey shows the appeal of RATIONAL equipment › We surveyed more than 2,600 customers from 15 countries. › The Methodology: To further improve customer satisfaction, RATIONAL decided to measure the Net Promoter Score (NPS). › Quality, reliability and user-friendlines
Slide 15: Encore Catering & Banquet Center
Encore Catering & Banquet Center Chef Bobby and his team in action Quote: “All of us were excited to cook with it. We still are. Every time we get a new item that we haven't prepared in the iCombi Pro, it's exciting. We made poached eggs in it the other day just because we wanted to try the poached
Slide 16: Kaunertaler and Pitztaler Gletscherbahnen
Kaunertaler and Pitztaler Gletscherbahnen Store photos and impressions Quote: “Our top priority was optimization." Janina Teichert, Restaurant Manager, Kaunertaler Gletscherbahnen, Tirol, Austria 16
Slide 17: Labor shortage in hospitality – number 1 challenge
Labor shortage in hospitality – number 1 challenge Restaurants are struggling to meet customer demands › US, CAN, FRA, UK and NL state staff shortage as number 1 challenge (Global State of the Hospitality Industry Report 2021). › Hospitality industry in Germany reported around 28,000 job vacancies i
Slide 18: Sustainability @ RATIONAL
Sustainability @ RATIONAL Using Active Green cleaner tabs in combi steamers › To actively minimise the impact on our environment, self cleaning of combi steamers now operates with green cleaning tabs. › The quantity of tabs required stays the same and in addition by using 6% fewer chemicals, custome
Slide 19: Forecast and outlook 2021
Forecast and outlook 2021 Expectation unchanged Due to the pleasing second and third quarters and the high order backlog, we confirm our outlook for 2021. We also remain cautious about the following risks: - New restrictions for our customers in Q4 (rather unlikely). - Ongoing supply chain disruptio
Slide 20: General outlook beyond 2021
General outlook beyond 2021 › Worldwide Bright future for RATIONAL population growth. › Varying catering locations. › Increasing purchasing power in developing countries. › Increasing hygiene requirements in kitchens. › Increased meaning of efficient kitchen processes. › Demand for healthier nutriti
Slide 21: Please send us your questions via email
Please send us your questions via email (ir@rational-online.com)