Rolls-Royce revenue up 14.7% - financial highlights for the 12 months ended 31-Dec-2009:
- Revenue: GBP10,414 million, +14.7% year-on-year;
- Underlying revenue*: GBP10,108 million, +11%;
- Civil Aerospace: GBP4,481 million, -0.5%;
- Cost of sales: GBP8,303 million, +14.1%;
- Operating profit: GBP1,174 million, +36.2%;
- Profit before tax: GBP2,957 million, compared to a loss of GBP1,892 million in the previous corresponding period;
- Underlying profit before financing*: GBP915 million, +4%;
- Civil Aerospace: GBP493 million, -12.9%;
- Net profit: GBP2,217 million, compared to a loss of GBP1,345 million in the previous corresponding period;
- Order book:
- Civil Aerospace: GBP47,000 million, +8.0%;
- Engine deliveries:
- Civil Aerospace: 844, -14.5%. [more]
*Where revenues are denominated in a currency other than the functional currency of the Group, these exclude the release of the foreign exchange transition hedging reserve and reflect the achieved exchange rates arising on settled derivative contracts.
Rolls-Royce: “Air travel and airfreight remain at subdued levels. Although there are some signs of improvement in traffic, the sustainability of these trends is uncertain. In 2010, further detrimental mix changes in [Civil aerospace] revenues are expected as new programmes commence delivery with the consequent impact of launch costs. Services revenues are expected to increase by around 10% in 2010, partly benefiting from improved foreign exchange achieved rates. Increased charges from R&D are expected because of the higher activity levels associated with these early phase programmes,” Company statement. Source: Rolls-Royce, 11-Feb-2010.