LANDSBERG AM LECH (dpa-AFX) - Rational AG (RTLLF.PK), a German manufacturer and retailer of cooking appliances, on Wednesday posted a rise in earnings for the first half, amidst an increase in revenues, supported by an improvement in demand. In addition, the company has confirmed its Annual guidance.
For the six-month period to June, the German firm posted earnings before financial result and taxes (EBIT) of 93.1 million euros, compared with 84.4 million euros a year ago.
Result after taxes stood at 70.9 million euros or 6.23 euros per share, compared with 64.2 million euros or 5.64 euors, reported for the same period last year.
Revenues for the first half were at 457.7 million euros, higher than 379.3 million euros, year-over-year basis.
For the quarter ended in June, the company posted an EBIT at 45.4 million euros, less than 52.2 million euros of last year quarter.
Result after taxes stood at 34.7 million euros or 3.05 euros per share, compared with 39.8 million euros or 3.50 euors, reported for the same period last year.
Revenues for the quarter moved up to 232.4 million euros, from 211.6 million euros recorded for the second quarter of 2021.
Looking ahead, for the fiscal 2022, the company has confirmed its outlook.
Peter Stadelmann, CEO of Rational AG, said: 'We expect sales growth of 10 to 15 percent compared to the previous year and an EBIT margin slightly above that of the previous year. Should the risks mentioned materialize more strongly than they became apparent in the first seven months, we expect lower sales growth and an EBIT margin below that of the previous year.'
Rational AG expects that cost increases and supply hurdles as a result of the lockdowns in Shanghai and the Ukraine crisis to continue to affect it indirectly.
For the fiscal 2021, the company had posted sales revenues of 780 million euros.
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