Rational tops STOXX after FY sales, EBIT beat estimates
11/01/2024 08:35
** Shares in Rational AG RAAG.DE rise 6.5% to the top of
pan-European STOXX 600 .STOXX after the industrial kitchen
retailer's preliminary 2023 results beat market expectations
** The company says its FY revenue reached 1.13 billion
euros ($1.24 billion), above analysts' average estimate of 1.10
billion, according to LSEG data
** Its EBIT rises to 277 million euros, beating market
expectations of 259.90 million
** Rational AG cites price adjustments, growth in sales
volumes in its iCombi product group, and successful after-sales
business that contributed to its performance
** The stock also tops Germany's mid-cap index .MDAXI , and
is on track for a best day since September 2022
($1 = 0.9112 euros)
(Reporting by Tristan Veyet)
((Tristan.chabba@thomsonreuters.com))