Rational posts first-half sales of £181m

Rational has grown its business 3% in the first half of the year, preliminary results published this morning reveal.

The combi oven maker posted sales of €211m (£181m) for the six months to the end of June, compared with €204m (£175m) at the same stage last year.

After exchange rate adjustments, the increase in year-on-year sales amounts to 5%.

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Earnings before interest and taxes (EBIT) came in at €50.5m (£43.4m), a 6% dip on last year’s figures. This equates to an EBIT margin of 24% compared with 26% last year.

Adjusted for exchange rate influences, EBIT rose by 4%.

Rational said that it was confident it would be able to maintain its sales growth throughout the rest of the year.

“In view of the way business has developed in the first six months and the overall relatively stable economic environment, the Executive Board expects sales to grow by about 5% in 2013 and earnings to stay at last year’s level,” it stated.

The growth that Rational posted during the first half was largely due to its strong performance in Q1.

In the second quarter it achieved sales of €107m (£92m), which was slightly below the same level last year, although up 2% year-on-year after exchange rate adjustments.

Growth in the second quarter of 2013 was also impacted by one-time effects from 2012. This particularly affected Asia and the Americas, where large project orders were placed last year, the company said.

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