Combi oven maker Rational is on course to meet its 2015 financial targets after revealing that sales during the first nine months of the year climbed 14% to €403.5m (£282m).
The company said the impressive haul had been helped by a strong third quarter in which revenues rose 10% to €143m (£100m).
A particularly strong contribution to the growth came from the Americas region, where sales expanded 39%. Even without exchange rate adjustments, it still registered a healthy 25% improvement.
Sales in Rational’s native German market rose by 13%, however the company said the rest of Europe suffered “below-average growth” after posting a rise of 6% in the first nine months. It blamed the slow growth on a comparatively poor business performance in Russia and the particularly strong prior-year quarter, during which many school kitchens in the UK were equipped with Rational appliances.
Meanwhile, the company said its Frima division had performed in line with expectations, generating growth of 14%.
Rational said its operating costs increased 15% year-on-year to €135m (£94m) during the quarter, due largely to investments in expanding its sales and service divisions. R&D expenses also increased sharply.
“In order to secure the sustained success of our company, we have already spent a total of €18m (£13m) on research and development this year,” said Dr Peter Stadelmann, CEO of Rational.
EBIT for the nine months increased by 17% year-on-year to €116m (£81m).
Rational currently employs 1,517 people worldwide, 857 of whom are based in Germany. A total of 93 new jobs have been created in 2015 to date, primarily in sales and marketing.
“Based on the positive business performance in the first nine months, we can again confirm our outlook for continued positive sales and earnings performance in financial year 2015,” added Stadelmann following the publication of its latest quarterly results earlier this month.