Rolls-Royce (RR.)

Business description

Rolls-Royce is a global power systems business with activities in civil aerospace, defence, marine and energy. The business supplies both original equipment (48%) and aftermarket services (52%).

Share price chart

Share chart

Stock data

Market cap.£19217m
Last close1022.000p
High / Low (52 weeks)1289.0p / 961.5p
Stock market listingLSE
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamIndustrials
SectorAerospace & Defence

Price performance

%1m3m12m
Actual(1.1)(18)(6.7)
Relative *(1.4)(15.3)(12.2)

* % Relative to local index

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Investment summary

Rolls announced on Friday 7 March that Daimler has decided to exercise its “put” option relating to its 50% shareholding in Tognum (now renamed Rolls-Royce Power Systems). Tognum was acquired jointly by Rolls and Daimler for €3.4bn in June 2011, and in H213 was fully consolidated by Rolls. This followed in-line results with particularly strong cash performance (+£359m; net cash is now £1,939m). However, the statement guided to a pause in revenue and profit growth in 2014, with growth set to resume in 2015. There was reassurance in the cash flow guidance “broadly similar to 2013”, given cash is one of the key components of the 4Cs priorities (customer, concentration, costs, cash).

Last updated on 31/03/2014

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2011A 11277.0 1447.0 1157.0 48.5 21.1 12.5
2012A 12209.0 1726.0 1409.0 58.6 17.4 12.8
2013E N/A N/A N/A N/A N/A N/A
2014E N/A N/A N/A N/A N/A N/A

Last updated on 26/03/2014

Latest video

Executive Interview – Rolls-Royce

Industry outlook

With the business well balanced across civil, defence, marine and energy markets, Rolls' long-term future is driven by the recovery in the economic climate. The outlook is encouraging, with civil air traffic growth, new aircraft build rates increasing and global defence expenditure relatively stable.

Last updated on 31/03/2014

Key management

Ian Davis, Chairman
John Rishton, CEO
Mark Morris, CFO

Company address

65 Buckingham Gate
London
SW1E 6AT
United Kingdom
+44 (0) 20 7222 9020
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