Business
2024 Half Year Results
2024 Half Year Results.
About this update from Rolls-royce Holdings Plc
[{"type":"text","content":"\n\nThis announcement contains inside information for the purposes of article 17(1) of the market abuse regulation (EU) 596/2014\n \n\n1 August 2024\n \n\n\n\nROLLS-ROYCE HOLDINGS PLC - 2024 Half Year Results\n \n \n\n\n\n\nStrong first half delivery gives confidence to raise guidance.\nShareholder distributions to be reinstated in respect of the full year 2024 results.\n\n\n\n\n \n\n\n\n\n \n\n\n-\n\n\nUnderlying operating profit of £1.1bn and underlying margin of 14.0% reflects the impact of our strategic initiatives, with commercial optimisation and cost efficiency benefits across the Group\n\n\n\n\n \n\n\n-\n\n\nFree cash flow of £1.2bn driven by higher operating profit and continued LTSA balance growth\n\n\n\n\n \n\n\n-\n\n\nReturn on capital[1] increased to 13.8% and represents significant value creation\n\n\n\n\n \n\n\n-\n\n\nNet debt reduced to £0.8bn driven by statutory net cash flow from operating activities of £1.7bn\n\n\n\n\n \n\n\n-\n\n\nFull year guidance raised in a challenging supply chain environment: we now expect underlying operating profit between £2.1bn and £2.3bn and free cash flow between £2.1bn and £2.2bn\n\n\n\n\n \n\n\n-\n\n\nReinstating shareholder distributions in respect of the full year 2024 results starting at a 30% pay-out ratio of underlying profit after tax with an ongoing pay-out ratio of 30-40% each year[2]\n\n\n\n\n \nTufan Erginbilgic, CEO said: \"Our transformation of Rolls-Royce into a high-performing, competitive, resilient, and growing business is proceeding with pace and intensity. We are expanding the earnings and cash potential of the business in a challenging supply chain environment, which we are proactively managing. We are on track to deliver our mid-term targets.\nO...