Rolls-royce Holdings Plc · LSE:RR.
Rolls-royce — H1 2012 Earnings Presentation
14 slides from Rolls-royce's earnings presentation, Oct 21, 2012
Slide 1: 2012 Half-year results
2012 Half-year results Trusted to deliver excellence 1
Slide 2: 2012 Half-year
2012 Half-year • Solid performance • Full year 2012 Group guidance confirmed • Continue to invest for future growth Trusted to deliver excellence 2
Slide 3: Group highlights
Group highlights H1 2012 H1 2011 +/- Order book (£bn) 60.1 57.6** +4% Revenue* (£m) 5,757 5,463 +5% Profit before tax* (£m) 637 595 +7% Net cash (£m) 869 223† +646 Earnings per share* 26.54p 23.89p +11% Payment to shareholders (p/share) 7.6p 6.9p +10% * Underlying figures ** Restated full year 2011
Slide 4: Group profit growth
Group profit growth 750 120 (75) 700 650 (35) 32 637 600 595 550 500 HY 2011 UPBT Trading Net R&D Entry Fees Tognum HY 2012 UPBT Trusted to deliver excellence 4
Slide 5: Group cash flow
Group cash flow 1,000 237 (517) 800 637 646 600 400 (363) 200 0 (86) (92) (200) (400) (231) (124) (447) 1093 (600) HY D&A NWC Capex & Other Trading Pension S/H Base Acq Gross 2012 Intangibles Cash Tax Payment Cash Disp Cash UPBT Flow Other Flow FX Flow Trusted to deliver excellence 5
Slide 6: Civil Aerospace
Civil Aerospace H1 2012 H1 2011 +/- Order book (£bn) 49.4 47.3** +4% Engine deliveries 533 462 +15% Revenue* (£m) 3,034 2,604 +17% OE revenue* (£m) 1,314 1,047 +26% Services revenue* (£m) 1,720 1,557 +10% Profit before financing* (£m) 310 250 +24% * Underlying figures ** Restated full year 2011 data
Slide 7: Defence Aerospace
Defence Aerospace H1 2012 H1 2011 +/- Order book (£bn) 5.5 6.0** -8% Engine deliveries 393 330 +19% Revenue* (£m) 1,134 1,088 +4% OE revenue* (£m) 559 504 +11% Services revenue* (£m) 575 584 -2% Profit before financing* (£m) 196 219 -11% * Underlying figures ** Full year 2011 data Trusted to deliver
Slide 8: Marine
Marine H1 2012 H1 2011 +/- Order book (£bn) 3.9 2.7** +44% Revenue* (£m) 1,070 1,171 -9% OE revenue* (£m) 622 695 -11% Services revenue* (£m) 448 476 -6% Profit before financing* (£m) 147 157 -6% * Underlying figures ** Full year 2011 data Trusted to deliver excellence 8
Slide 9: Energy
Energy H1 2012 H1 2011 +/- Order book (£bn) 1.3 1.4** -7% Revenue* (£m) 445 541 -18% OE revenue* (£m) 179 312 -43% Services revenue* (£m) 266 229 +16% Profit before financing* (£m) (5) (7) +29% * Underlying figures ** Full year 2011 data Trusted to deliver excellence 9
Slide 10: Group financial strength
Group financial strength Credit rating • S&P upgrade to A: stable outlook • Moody’s A3: stable outlook Strong liquidity • Total liquidity £3.15bn • Access to global debt markets Debt maturities • Spread to 2019 • No material refinancing 2012/13 Underpins long-term commitments Trusted to deliver exce
Slide 11: IAE / Pratt & Whitney
IAE / Pratt & Whitney Status • Sale of shareholding completed • Announced new JV with P&W Next steps • Regulatory approval for new JV Reporting • Order book reduces by £4.6bn • $1.5bn cash received • +c.£70m profit for H2 2012 Trusted to deliver excellence 11
Slide 12: Tognum
Tognum Status • JV owns > 99% Next steps • Legal process ongoing • Delisting Reporting • 2012 equity accounting assumption • Tognum H1 results August 7th • Full consolidation assumed sometime H1 2013 Trusted to deliver excellence 12
Slide 13: H1 2012 Summary
H1 2012 Summary Solid performance 2012 full year Group guidance confirmed Trusted to deliver excellence 13
Slide 14: Q&A
Q&A John Rishton Chief Executive Mark Morris Finance Director Trusted to deliver excellence 14