RATIONAL AG (Ticker: RAA): A Hidden Campion of Professional Kitchens
A global leader in professional kitchen equipment with exceptional capital management, a robust balance sheet, and significant ownership by the founding family
Strong Brand: One of the best-known names in professional kitchens and by far, the world market leader with over 50% market share
Healthy Balance Sheet: Almost no financial debt with net liquidity position and high equity ratio of 0.76
High Capital Efficiency: Profitable business model with average ROCE(5y) of 33% and low capital intensity with high cash flow generation ability
Global Economy & FX Sensitivity: High sensitivity to global economic activity; Around 50% of group revenues come from foreign currency sales (primarily in USD)
Growth Drivers: Shortage of skilled workers, population growth, rising costs for energy and labor are driving forces for future growth potential