RATIONAL (RAA) Q4 2024 earnings summary

Executive summary

• Achieved record sales of EUR 1.194 billion in 2024, up 6% year-over-year, with Q4 setting a new quarterly record of EUR 318 million (+9%).

• EBIT reached an all-time high of EUR 314 million (+13% year-over-year), with EBIT margin rising to 26.3%, returning to pre-pandemic levels.

• Launched the iHexagon, a new innovative cooking appliance, and expanded digital solutions like ConnectedCooking, receiving strong customer feedback and industry awards.

• Celebrated 25 years of stock exchange listing, highlighting innovation, stability, and record share price milestones.

• Continued global expansion and sustainability focus, with strategic investments in France, China, and a new distribution center in Germany.

Financial highlights

• Gross profit margin improved to 59.2%, up 2.5 percentage points year-over-year, driven by price increases and lower raw material costs.

• EBIT grew 13% to EUR 314 million, with EBIT margin up 175 bps to 26.3%, surpassing pre-crisis levels.

• Net income for FY 2024 was EUR 250.5 million, up 17% from the prior year.

• Dividend proposed at EUR 15 per share for 2024 (68% payout ratio), up 11% from prior year, with a dividend yield of 1.8%.

• Equity ratio at 77%, liquidity ratio at 45%, and total assets surpassed EUR 1 billion.

Outlook and guidance

• 2025 sales and revenue growth expected in the mid single-digit percentage range, driven by volume, not price.

• EBIT margin guidance for 2025 is around 26%, with a +/-1 percentage point range.

• Gross margin expected to be slightly lower in 2025 due to price reductions in cleaner products and rising operating costs.

• Continued investment in sales force, R&D, and production capacity, especially in China.