RATIONAL Aktiengesellschaft (0FRJ), the global market leader in professional cooking systems, reported nine-month 2026 sales revenues of €973.7 million, representing 6 percent growth year-on-year, as it published its interim results on 5 November 2026. The Landsberg am Lech-based company also raised its full-year EBIT margin guidance to between 26 and 27 percent, while confirming its EBIT forecast range of €340 million to €360 million. With Europe driving the majority of growth and both core product lines expanding, investors will be closely watching whether momentum can be sustained into a challenging fourth quarter against a strong prior-year comparative.

Key Points

  • RATIONAL Aktiengesellschaft (0FRJ), listed on the Frankfurt Regulated Market (Prime Standard) and member of the MDAX
  • Nine-month 2026 sales revenues reached €973.7 million, up 6 percent year-on-year; Q3 revenues of €332.2 million, also up 6 percent
  • EBIT margin raised to 26–27 percent for full-year 2026; EBIT forecast confirmed at €340m–€360m; nine-month earnings per share of €17.74
  • Investors should watch Q4 sales growth, given the company's expectation of low single-digit percentage growth against a very strong prior-year fourth quarter

European Markets and iVario Product Line Drive Nine-Month Revenue to €973.7 Million

Growth in the first nine months of 2026 was led by European markets, with Germany up 9 percent to €103.8 million and Europe excluding Germany rising 8 percent to €422.6 million. Spain, Scandinavia, Austria, Italy, Switzerland, Eastern Europe, and France all made substantial contributions. North America grew 5 percent to €235.4 million on a reported basis, or 9 percent currency-adjusted. Latin America expanded by 19 percent, while Asia declined 3 percent in reported terms due to continued challenges in China, though currency-adjusted growth was 1 percent. The iVario product group grew 10 percent to €119.8 million, outpacing iCombi's 5 percent growth to €853.9 million across the nine-month period.

RATIONAL Raises EBIT Margin Guidance After US Tariff Reduction Boosts Q3 Profitability

The nine-month EBIT rose 11.5 percent to €261.2 million, lifting the EBIT margin to 26.8 percent from 25.5 percent in the prior-year period. The Q3 EBIT margin reached 27.5 percent, partly aided by a reduction in US tariffs to 15 percent, which allowed the company to release provisions and contributed approximately one percentage point to the quarter's margin. A US tariff refund of €14 million recognised in Q2 also supported the gross margin, which reached 59.5 percent for the nine months. Adjusted for the tariff refund, the nine-month gross margin was 58.1 percent and the EBIT margin was 25.4 percent, within the company's previously anticipated range.

Full-Year 2026 Outlook: Sales at Lower End of Mid-to-High Single-Digit Range, EBIT Guidance Confirmed

RATIONAL now expects full-year 2026 sales revenue growth to land at the lower end of its previously guided mid-to-high single-digit percentage range, citing a very strong prior-year Q4 as a comparative headwind. The company anticipates low single-digit percentage sales growth in Q4 2026. Despite the more cautious revenue outlook, the raised EBIT margin guidance of 26 to 27 percent and unchanged EBIT forecast of €340 million to €360 million signal confidence in profitability. The company employs 2,920 people globally, with 1,584 based in Germany, and holds a claimed global combi-oven market share of 50 percent.

Net Promoter Score of 65 and Global Market Leadership Underpin RATIONAL's Long-Term Strategy

Beyond the financial metrics, RATIONAL highlighted a net promoter score of 65 as evidence of sustained customer satisfaction across its broad base of professional kitchen clients, which spans restaurants, hospitals, schools, military facilities, and ghost kitchens. The company estimates the potential global market at approximately 4.8 million professional kitchens, around 75 percent of which still use traditional cooking equipment — representing the central long-term growth opportunity for its iCombi, iVario, and iHexagon intelligent cooking systems. Currency headwinds and elevated costs in raw materials, electronics, chemicals, and energy remain company-specific risks that investors may be watching.