Business
Capital Markets Day
Capital Markets Day.
About this update from Rolls-royce Holdings Plc
[{"type":"text","content":"\n\n28 November 2023\n \n\nROLLS-ROYCE TARGETS A STEP CHANGE IN MID-TERM PERFORMANCE\n \n \n\n\n\n\n· \n\n\nClear vision and strategy will create a high performing, competitive, resilient and growing business\n\n\n\n\n· \n\n\nMid-term targets set to deliver record future performance: operating profit of £2.5bn-£2.8bn, operating margin of 13-15%, free cashflow of £2.8bn-£3.1bn and return on capital of 16-18%\n\n\n\n\n· \n\n\nImproved financial performance will create a stronger balance sheet and investment grade profile for the benefit of all stakeholders\n\n\n\n\n· \n\n\nFocused strategy has identified investment priorities, partnership opportunities and supports a £1bn-£1.5bn gross disposal programme over next 5 years\n\n\n\n\n· \n\n\nCurrent trading is in line with expectations and guidance for 2023 reconfirmed\n\n\n\n\n \nRolls-Royce is today holding a Capital Markets Day in which we are setting mid-term financial targets that will represent a step change in our financial performance.\n \nChief Executive Tufan Erginbilgic said:\n \n\"Rolls-Royce is at a pivotal point in its history. After a strong start to our transformation programme, we are today laying out a clear vision for the journey we need to take and the areas where we must focus. We are creating a high performing, competitive, resilient and growing Rolls-Royce that will have the financial strength to control and shape its own destiny. We are confident in our ability to achieve these ambitions and have a clear and granular plan to deliver on our targets. We have made significant progress, with 2023 profit and cash forecast to be materially ahead of 2022.\n \n\"We are setting compelling and achievable financial targets for the mid-term which will take Rolls-Royce significantly beyond any previous financial performance. This will benefit not just our shareholders but our people, customers and partners. We are building 'one Rolls-Royce'. A company that can fully realise its potential, ensuring the excellence and innovation that helped shape the modern world, endures long into the future.\"\n \nMid-term targets\nWe aim to make Rolls-Royce financially stronger and more resilient than it has been before. In the mid-term this means achieving:\n \n\n\n\n\n· \n\n\nOperating profit of £2.5bn-£2.8bn,\n...