Given there were times last year when Rational was desperately scouring the planet for microchips and quoting lead times of 20 weeks, its management team probably never dreamed this day would come so soon. However, despite the challenges it faced, the brand succeeding in crossing the €1 billion ($1.09 billion) mark for the first time in its history.
The Germany-based manufacturer, renowned for its iCombi and iVario cooking platforms, posted a group turnover of just over 1 billion for 2022 – its highest ever figure in more than 50 years of trading and a 31% hike on the €780m ($851m) it generated the year before.
Profit after taxes and interest (EBIT) of €237m ($259m) is also a record for a business.
Management singled out the American market for its sales development, hailing “disproportionately high” growth rates.
Peter Stadelmann, CEO of Rational, said a combination of unwavering demand and improved components availability had made the growth possible.
“This pleasing development was due to the full order book in light of the positive business development, combined with the sufficient supply of electronic components in the second half of the year to reduce the high backlog in orders,” he explained.
Both product groups contributed to the increase, with better parts availability in the second half of the year boosting iCombi sales by 28%. iVario sales rose 57%.
Markus Paschmann, CSMO of Rational, said: “This unique success was made possible through the focus on customer benefit, together with long partnerships with suppliers and dealers and the tireless efforts of the employees.”
Rational now employs nearly 2,400 staff worldwide and recently paid out a global inflation compensation bonus – €2,000 ($2,181) per capita in Germany – and for everyone who is at least in their second full year of service a voluntary special payment equivalent to one month’s salary.
The company plans to share its forecasts for the 2023 financial year in March when its annual report is published.
