Rational AG (RTLLF.PK), a German manufacturer and retailer of combi steamers and ovens, cooking appliances suitable for large and commercial kitchens, reported that its earnings after taxes for fiscal year 2021 climbed to 123.7 million euros from 80.1 million euros in the previous year. Earnings per share grew to 10.88 euros from 7.04 euros in the prior year.
Earnings before financial result and taxes (EBIT) were 160.1 million euros, up from 106.8 million euros in the prior year.
Annual sales revenues were 780 million euros, represented an increase of 20 percent from the prior year. Sales revenues were positively impacted by factors such as encouraging demand for the new iCombi and iVario, catch-up investments, government support programmes and orders brought forward in anticipation of shortages of materials.
Rational anticipates a successful, but challenging fiscal year 2022. The company expects sales revenues to be between 10 percent and 15 percent up on 2021 and so above the pre-crisis levels of 2019. Due to the higher costs for commodities and components, which Rational will counter in 2022 with further price increases, the gross margin is expected to be at the level of the previous year.
The company anticipates that EBIT will grow at a slightly higher rate than sales revenues and that the EBIT margin will be slightly higher year on year.
The company said its executive board and supervisory board will submit a proposal to the General Meeting of Shareholders on 4 May 2022 to distribute a dividend of 7.50 euros per share, plus a special dividend of 2.50 euros per share. This equates to a total distribution of 113.7 million euros.
The 2022 General Meeting of Shareholders will again be conducted virtually without physical attendance by shareholders. The invitation will be sent out soon.
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