Rolls-Royce is a global provider of complex, integrated power systems and services to the aerospace and marine/industrial power systems markets with two strong technology platforms: gas turbines and reciprocating engines. Its consistent, long-term strategy has seen revenue double and underlying profit increase more than five times in the last decade, while its substantial order book provides excellent visibility of future growth with good opportunities to improve margins and cash flow conversion.
Investor Relations director Simon Goodson discusses the recently announced sale of the group's Energy gas turbine business to Siemens and the resulting £1bn share buyback. The buyback was initiated following management's expectation that no large acquisitions will be undertaken in the foreseeable future while the integration of Tognum completes. He goes on to explain the long-term nature of the group's order book and aftermarket business, along with the impact it will have on operational efficiency as significant volumes of Trent engines are delivered.
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