LANDSBERG AM LECH (dpa-AFX) - Rational AG (RTLLF.PK) reported that the drop in sales revenues in fiscal 2020 led to a significant decline in earnings before financial result and taxes (EBIT), which amounted to 107 million euros compared to 231 million euros, previous year. EBIT margin was 16.4 percent compared to 26.5 percent.
Fiscal 2020 sales revenues were 650 million euros, a decrease of 23 percent. The company said the decline was due to coronavirus measures around the world, which had a negative impact on many customers.
For the first quarter, the company estimates sales revenues will be down by almost 10 percent compared with the prior-year quarter. The company noted that first quarter's EBIT margin will be in line with full year expectations.
The Board will submit a proposal to the General Meeting to distribute a dividend of 4.80 euros per share.
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