RATIONAL AG
RATIONAL AG: 650 million euros sales revenues and 16 percent EBIT margin
DGAP-News: RATIONAL AG
/ Key word(s): Forecast/Dividend
Press release Rational AG: 650 million euros sales revenues and 16 percent EBIT margin
Landsberg am Lech, 24 March 2021 Rational generated sales revenues of 650 million euros in fiscal year 2020. This equates to a decrease of 23 percent (2019: 844 million euros). The decline was due to coronavirus measures around the world, which had a negative impact on many customers. South America (-48 percent) and North America (-29 percent) were especially hit by the coronavirus crisis, while Asia (-15 percent) and Germany (-16 percent) fared better. The rest of Europe contracted by around 22 percent on average across the Group. The currency-adjusted decline in sales revenues was 22 percent. The drop in sales revenues led to a significant decline in earnings before financial result and taxes (EBIT) in 2020, which amounted to 107 million euros (2019: 231 million euros). Although reduced expenses on items such as trade fairs, CookingLive, travel, dealer and employee bonuses resulted in a year-on-year decrease of 10 percent in operating expenses, they did not go down to the same extent as sales revenues. Cost of sales was at a higher level due to the product changeover and additional expenditure because of the crisis. This resulted in an EBIT margin of 16.4 percent (2019: 26.5 percent). The CEO is also satisfied with the digital distribution channels that have meanwhile been established. In many markets, the virtual sales events enjoyed a very good response. For the first quarter of 2021, Dr Stadelmann assumes that sales revenues will be down by almost 10 percent compared with the prior-year quarter. That is encouraging, since sales revenues had still been at pre-crisis highs in the first two months of 2020. That is set to change from March onwards, since the crisis began to have an impact in March 2020. The first quarter’s EBIT margin will be in line with full year expectations. In the medium to long term, the company’s management continues to regard Rational’s situation as very good. As the effects of coronavirus tail off and the numerous financial aid packages take effect, market conditions will return to normal. Dividend of 4.80 euros per share proposed Contact: Editorial note: The company’s principal objective is to offer maximum customer benefit at all times. Rational is committed to the principle of sustainability, which is expressed in its corporate policies on environmental protection, leadership, job security and social responsibility. Numerous international awards bear witness to the high quality of the work done by Rational’s employees year for year.
24.03.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | RATIONAL AG |
Siegfried-Meister-Straße 1 | |
86899 Landsberg am Lech | |
Germany | |
Phone: | 0049 8191 327 2209 |
Fax: | 0049 8191 327 722209 |
E-mail: | ir@rational-online.com |
Internet: | www.rational-online.com |
ISIN: | DE0007010803 |
WKN: | 701080 |
Indices: | MDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1177548 |
End of News | DGAP News Service |