Rolls-Royce Half-Year Report 2023

Tufan Erginbilgic, CEO, said: “Our multi-year transformation program has started well with progress already evident in our strong initial results and increased full-year guidance for 2023. There is much more to do to deliver better performance and to transform Rolls-Royce into a high-performing, competitive, resilient, and growing business. We will share the outcome of our strategy review along with medium-term goals for the Group in November”

Highlights

  • Significantly improved first half results: higher underlying operating profit of £673m and free cash flow of £356m reflects continued end-market growth and our focus on commercial optimization and cost efficiencies across the Group
  • Full-year guidance raised: on 26 July we upgraded 2023 guidance for underlying operating profit to £1.2bn-£1.4bn and free cash flow to £0.9bn-£1.0bn; transformation efforts are accelerating our financial delivery
  • Margin improvement led by Civil and Defence: driven by higher volumes, commercial improvements, and cost efficiencies; Power Systems margins were lower, but are expected to improve in the second half due to our pricing actions
  • Accelerated financial delivery driven by transformation: our multi-year programme has started well with strong initial results
  • Delivering in an uncertain environment: an increased focus on costs and productivity has helped to offset the impact of inflation and supply chain pressures

Free Trial

Step 1 of 2

Name(Required)

By pressing “Send” you agree to the Privacy Policy of this site

No Credit Card needed, after filling up the form you will receive your Free-Trial login information in 24 to 48 hours by e-mail.

ImprintPrivacy Policy

All Rights Reserved © aicorite.com