PRESS RELEASE : Rational AG: Fourth quarter with stable sales revenue performance - preliminary figures for fiscal year 2020

DGAP-News: RATIONAL AG / Key word(s): Preliminary Results/Annual Results 
Rational AG: Fourth quarter with stable sales revenue performance - preliminary figures for fiscal year 2020 
2021-02-04 / 07:00 
The issuer is solely responsible for the content of this announcement. 
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Press release 
Rational AG: Fourth quarter with stable sales revenue performance - preliminary figures for fiscal year 2020 
- Sales revenues of 183 million euros in the fourth quarter - strongest quarter of the year 
- Sales revenues down by 23 percent in 2020 - currency-adjusted: 22 percent 
- 107 million euros EBIT and 16 percent EBIT margin expected 
- Well-positioned for the future 
Landsberg, 4 February 2021 According to provisional calculations, Rational posted sales revenues of 650 million euros 
in the 2020 fiscal year. This equates to a decline of 23 percent or 194 million euros compared to the previous year 
(2019: 844 million euros). This negative development was due to the worldwide protection measures in connection with 
the coronavirus crisis, which had a negative impact on most customer groups. Following a significant decline in sales 
revenues in the second quarter of 43 percent compared with the prior-year quarter, the situation recovered perceptibly 
in the third and fourth quarters. "However, due to the continuing restrictions for our customers, our sales revenues 
remained around 21 percent below the figures for the previous year in both the third and fourth quarters," explained Dr 
Peter Stadelmann, CEO of Rational AG. The second lockdowns from November in many markets did not lead to a renewed fall 
in sales revenues. 
The sales regions South America (-48 percent) and North America (-29 percent) were especially hard hit by the 
coronavirus crisis, while Asia (-15 percent) and Germany (-16 percent) fared better. Overall, performance in the rest 
of Europe (-22 percent) was in line with the group average. Here, however, figures range widely from a decline in sales 
revenues of around 10 percent in markets such as Scandinavia, Austria and Switzerland to a drop of more than 30 percent 
in Spain, the UK and many Eastern European markets. With a drop in sales revenues of just 7 percent, the figure for 
iVario shrank more slowly, which is also due to it being launched in new markets compared with the previous year. Sales 
revenues for combi-steamers fell by 25 percent. The currency-adjusted Group-wide decline in sales revenues was 22 
percent. 
EBIT margin expected to be well below previous year's level 
In line with the negative sales revenue performance, RATIONAL expects earnings before financial result and taxes (EBIT) 
of just under 107 million euros (2019: 231 million euros). "Operating expenses fell by more than 10 percent 
year-on-year to around 245 million euros due to reduced expenditure in, for example, marketing (trade fairs, 
CookingLive) or travel expenses and to additional cost savings," says Dr Stadelmann. In addition, cost of sales was at 
a higher level due to the product changeover and additional expenditure because of the crisis. This resulted in a 
reduced EBIT margin of 16.4 percent (2019: 26.5 percent). 
Employees 
At the start of the coronavirus crisis, a hiring freeze was imposed. Vacant positions - where reasonable - were not 
refilled, some fixed-term contracts were not renewed and temporary staff were only employed in exceptional cases. "Our 
aim is to retain high achievers over the long term, which is why we are using short-time working or comparable tools in 
many areas. As a socially responsible company, we want to keep as many jobs as possible so that we are prepared for the 
upswing, which is certain to come. We are continuing to weigh up the not inconsiderable cost of laying off staff 
against the cost of subsequently replacing and training them," says Dr Stadelmann. As at the balance sheet date 31 
December 2020, the total number of employees in the group fell slightly to 2,180 (2019: 2,258). 
Well-positioned for the future 
Rational closely observes economic developments in its principal markets. The long-term positive trends in the catering 
and food service sector continue undiminished. Thanks to its broad focus on different customer groups, Rational can 
respond flexibly to changing market requirements. Due to the exceptionally healthy balance sheet, the good liquidity 
position, the strong position in the market and the newly launched cooking systems in 2020, the Executive Board 
believes that the company is well-placed to resume its successful growth path in fiscal year 2021. The company will 
publish a detailed outlook on expected business development, final group earnings for fiscal year 2020 and the proposed 
dividend on 24 March 2021. 
Contact: 
Rational Aktiengesellschaft 
Stefan Arnold / Head of Investor Relations 
Tel. [phone] 
Fax [phone] 2209 
E-mail: [e-mail] 
www.rational-online.com 
Editorial note: 
The Rational Group is the global market and technology leader for thermal preparation of food in professional kitchens. 
Founded in 1973, the company employs around 2,200 people, over 1,200 of whom are in Germany. Rational was floated in 
the Prime Standard of the German stock market in 2000 and is currently represented in the MDAX. 
The company's principal objective is to offer maximum customer benefit at all times. Internally, RATIONAL is committed 
to the principle of sustainability, which is expressed in its 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. 
Contact: 
Stefan Arnold 
Head of Investor Relations 
[e-mail] 
Tel. [phone] 
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2021-02-04 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
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Language:     English 
Company:      RATIONAL AG 
              Siegfried-Meister-Straße 1 
              86899 Landsberg am Lech 
              Germany 
Phone:        [phone] 
Fax:          [phone] 722209 
E-mail:       [e-mail] 
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:  1165528 
 
End of News   DGAP News Service 
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1165528 2021-02-04

(END) Dow Jones Newswires

February 04, 2021 01:03 ET (06:03 GMT)