RATIONAL AG: On course for international success. Sales growth exceeds expectations
18 percent sales growth and
15 percent growth in earnings in the first half of 2007
Landsberg, August 9, 2007. RATIONAL AG, the world market leader in cooking technology for professional kitchens, was again on course for impressive international success in the first half of 2007.
At 153.9 million euros (previous year 130.2 million euros), sales revenues were up by 23.7 million euros or 18 percent. An especially gratifying feature is that all regions worldwide managed to achieve clear double-digit growth compared to the same period last year, says Dr. Blaschke, CEO of RATIONAL AG. Sales revenues for the second quarter of 2007 stand at 80.0 million euros, compared to 67.4 million euros in the same period last year. This is equivalent to a rise of 12.6 million euros or 19 percent.
The unexpectedly high further rise in stainless steel prices has caused cost of sales to increase by 23 percent for the first half of 2007. Despite this, we were right on target with our earnings forecast, with a 15 percent rise in EBIT to 38.7 million euros. This bears impressive testament to the extraordinary earning power of our company. The first signs of an easing in nickel prices mean that a turnaround in cost of sales is likely for the second half of 2007, explains Dr. Blaschke.
High sales and earnings growth for 2007 confirmed
In 2007 the company is investing in the further expansion of the international sales and marketing network, in research and development and in increased production capacities. The SelfCooking Center® and the VarioCooking Center® give the RATIONAL group a unique, innovative technology platform with maximum customer acceptance. Against this backdrop and based on earnings achieved in the first half of 2007 we expect sales growth in fiscal 2007 of at least 15 percent to 325 million euros, together with a rise in EBIT of 15 percent to 93 million euros, says Dr. Blaschke.
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