LANDSBERG AM LECH (dpa-AFX) - Rational AG (RTLLF.PK), a German maker of kitchen equipment, on Thursday reported an increase in net earnings for the first-quarter, reflecting a rise in sales, driven by higher demand.
Jorg Walter, CFO of Rational, said: 'Sales revenues had risen by 25 percent in the first quarter of 2023, boosted by the successful reduction of the exceptionally high orders on hand by around 45 million euros. This shows that year-on-year comparisons of sales revenues and new orders should be interpreted with caution due to the follow-on effects of the supply crisis. Against this background, and based on high demand, we evaluate the sales revenue performance as positive.'
For the three-month period, the company registered a net profit of 56.1 million euros or 4.94 euros per share, higher than 51.7 million euros or 4.55 euros per share, recorded for the same period a year ago.
Earnings before financial result and taxes or EBIT stood at 71.1 million euros as against last year's 66.5 million euros.
Sales revenue increased to 286.4 million euros from 282.4 million euros in 2023.
The company said that its Board will propose a dividend of 13.50 euros at the Annual General Meeting on May 8.
Rational has confirmed its forecast for the full year. It continues to expect organic sales revenue growth in the mid to high single-digit percentage range.
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