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Earnings Call Q1 2025 Landsberg am Lech, 6 May 2025 25 years of success on the stock exchange. Thanks to innovation and stability. .
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RATIONAL AG | Q1 2025 Earnings Call Agenda 03 Looking back at Q1 2025 14 Outlook 2025 06 Figures. Facts. Data. Housekeeping: All participants remain muted. Please send questions to ir@rational-online.com All questions will be answered after the presentation. A replay of the call will be distributed to the participants. Unauthorised distribution of the replay is prohibited. 6 May 2025 | RATIONAL AG | Earnings Call Q1 2025 2
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General information, current developments, and plans Current situation of tariffs 36 May 2025 | RATIONAL AG | Earnings Call Q1 2025 What is affected? • All US exports (approx. 20% of total sales) by additional 10% tariffs1 • To maintain the absolute contribution a list price increase of around 6% is needed mathematically. Production sites iCombi: Landsberg, Germany iVario: Wittenheim, France Suppliers: More than 95% European 1status as of 5 May 2025 What is the outlook? • Announcements can occur at short notice; the situation is therefore very difficult to predict. • US reciprocal tariffs are paused for 90 days until early July.1 What measures are in place? • Monitoring the volatile situation closely • No premature price adjustments
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PC Tank Luxembourg 4
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"We produce high-quality food, and we need high- quality equipment to do so.” Nathalie Höft Assistant Retail Manager | PC Tank “
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Figures. Facts. Data. Q1 2025
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Sales revenues increased by 6% to 1,194 million euros in 2024 Strong sales performance in 2024 844 650 780 1,022 1,126 1,194 2019 2020 2021 2022 2023 2024 -23% +20% +31% +10% +6% Sales revenues in m EUR | Year-on-year sales growth6 May 2025 | RATIONAL AG | Earnings Call Q1 2025 7
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Q1 2025 – Return to normal seasonality expected Sales revenues by quarter Sales revenues in m EUR | Year-on-year sales growth86 May 2025 | RATIONAL AG | Earnings Call Q1 2025 286 295 294 318 295 Q1 Q2 Q3 Q4 +3% 20252024 20252024 20252024 20252024
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Americas and Europe spur growth Sales revenues by region 15 15 Q1 2024 Q1 2025 Latin America +1% 62 69 Q1 2024 Q1 2025 North America +11% 42 34 Q1 2024 Q1 2025 -20% Asia 18 18 Q1 2024 Q1 2025 +4% Rest of the World Europe 120 129 Q1 2024 Q1 2025 +7% 30 30 Q1 2024 Q1 2025 Germany Sales revenues in m EUR | Year-on-year sales growth96 May 2025 | RATIONAL AG | Earnings Call Q1 2025 +2%
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Sales revenues by product group iVario with higher growth than iCombi 10 256 262 Q1 2024 Q1 2025 iCombi +2% iVario 31 34 Q1 2024 Q1 2025 +10% 106 May 2025 | RATIONAL AG | Earnings Call Q1 2025 Sales revenues in m EUR | Year-on-year sales growth
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EBIT margin stabilises on pre-crisis level Strong EBIT performance 26 32 48 67 71 72 Q1 2020 Q1 2021 Q1 2022 Q1 2023 Q1 2024 Q1 2025 +48% +39% +7% +1% 14.3% 19.2% 21.2% 23.5% 24.8% 24.4% EBIT in m EUR EBIT margin116 May 2025 | RATIONAL AG | Earnings Call Q1 2025 +24%
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Healthy sales revenue performance and favourable COGS High profitability in Q1 2025 + Sales at a good level for Q1 Stable commodity and logistics costs in m EUR Q1 2024 Q1 2025 2024 vs. 2025 Change Margin Impact Sales revenues 286 295 +3% --- COGS -119 -121 +1% +70 bps Gross Profit 167 175 +4% +70 bps Gross Margin 58.5% 59.2% --- +70 bps Sales and Service -66 -71 +8% -100 bps R&D -15 -19 +30% -130 bps Administration -14 -14 +1% +10 bps Operating Expenses -95 -104 +10% -220 bps Other operating in./exp. 0 +1 --- 0 bps Currency Result -2 +1 --- +95 bps EBIT 71 72 +1% --- EBIT Margin 24.8% 24.4% --- -40 bps Targeted increase in operational costs 126 May 2025 | RATIONAL AG | Earnings Call Q1 2025
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High equity ratio and liquidity Solid balance sheet provides security and flexibility in m EUR 31.03.20241 31.12.2024 31.03.2025 Non-current assets 287 292 287 Inventories 109 108 114 Trade receivables 179 181 186 Other assets 358 373 384 Liquid funds 94 152 149 To talassets 1,027 1,106 1,119 Equity 817 857 914 Non-current liabilities 42 45 44 Current provisions 60 82 62 Current liabilities 109 122 98 Equity & liabilities (total) 1,027 1,106 1,119 82% Equity ratio Key balance sheet KPIs +9% Growth in total assets 45% Liquidity ratio2 50 Days Group DSO 22% Working capital/ sales ratio3 136 May 2025 | RATIONAL AG | Earnings Call Q1 2025 1 The previous year’s comparative figures have been restated retrospectively in accordance with IAS 8 (see “Consolidation methods and significant accounting policies – Deferred taxes”) in our annual report. 2bank deposits and short-term investments 3Working Capital: Total inventories and trade receivables less trade accounts payable and advance payments received in relation to sales revenues (rolling last 4 quarters)
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Cautiously optimistic – despite challenging economical environment Sales revenue and profit outlook for 2025 Operating costs rise slightly faster than sales revenues. Sales growth in the mid-single-digit percentage range. Gross profit margin slightly lowerthan previous year. EBIT margin at around 26%. 146 May 2025 | RATIONAL AG | Earnings Call Q1 2025
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This presentation serves the single purpose of introducing the RATIONAL Group and providing a brief overview. The information contained is not intended to be exhaustive and does not provide a basis for corporate decisions or serve as investment advice. We assume no warranty, guarantee or liability for the completeness of the information, statements, estimates and projections given in this presentation, in particular with regard to the future development of the companies of the RATIONAL Group. This presentation contains assessments of the future based on the assumptions and estimates of the Executive Board of RATIONAL AG. Even though the Executive Board is convinced that these assumptions and plans are correct, the actual development and future results may significantly deviate from these assumptions and estimates. RATIONAL AG does not assume warranty or liability for future developments and future results corresponding to the assumptions and estimates made in this presentation. Individual values and totals may differ due to rounding. © RATIONAL 2025 Disclaimer RATIONAL Investor Relations Stefan Arnold (Head of IR) Tobias Stadler (Manager IR) ir@rational-online.com +49 8191 327 2209 166 May 2025 | RATIONAL AG | Earnings Call Q1 2025