Rational shares jump on 'confident' 2024 outlook
27/03/2024 08:45
** Shares in Rational AG RAAG.DE jump 8.1% as the
industrial kitchen retailer provided a "confident" outlook for
2024, after posting a strong 2023 profit growth
** The company expects sales volumes and revenues to grow
y/y in the mid to high single-digit percentage range in 2024, as
it expects FY EBIT margin to be close to the previous year
** "Rational is very confident for 2024," Berenberg says,
adding the German firm's outlook is slightly more optimistic
than expected
** "In many respects, 2023 was a year of normalisation for
us, and we expect this trend to continue in 2024," CFO Joerg
Walter says
** Rational's FY sales revenues come in at 1.12 billion
euros ($1.21 billion), up 10% y/y
** The stock is on track for its best day since September
2022, if gains hold, and is among the best performers of the
pan-European STOXX 600 .STOXX index
($1 = 0.9238 euros)
(Reporting by Ozan Ergenay)
((ozan.ergenay@thomsonreuters.com))