Rolls-Royce Holdings plc STATEMENT re TRENT 7000. Fiscal Year GUIDANCE CONFIRMED
October 26 2018 - 8:46AM
Dow Jones News
TIDMRR.
RNS Number : 3558F
Rolls-Royce Holdings plc
26 October 2018
26 October 2018
STATEMENT re TRENT 7000. FULL YEAR GUIDANCE CONFIRMED
Rolls-Royce confirms that it expects to deliver fewer Trent 7000
engines in Q4 2018 than originally planned, reflecting early stage
production ramp up challenges. As a result, we are likely to fall
short of our prior engine delivery projection of approximately 550
large engine deliveries for 2018, and are now expecting to deliver
approximately 500 engines.
While we regret the impact this will have on our customers, we
are today re-iterating our financial guidance for 2018 profit and
free cash flow as provided at the time of our interim results in
August 2018.
Our priority has always been to ensure that the Trent 7000
engine meets customer expectations on entry into service and we
have seen very good performance attributes during a rigorous
testing phase. We continue to work very closely with Airbus and our
customers on the details of the delivery schedule. While the
production ramp up issues in Q4 are regrettable, such issues in the
early stages of a new engine program are not uncommon in our
industry. As we move into 2019 we are confident that Trent 7000
production and delivery volumes will increase significantly to meet
our customer commitments.
Further information can be found at www.rolls-royce.com
About Rolls-Royce Holdings plc
1. Rolls-Royce pioneers cutting-edge technologies that deliver
the cleanest, safest and most competitive solutions to meet our
planet's vital power needs.
2. Rolls-Royce has customers in more than 150 countries,
comprising more than 400 airlines and leasing customers, 160 armed
forces, 4,000 marine customers including 70 navies, and more than
5,000 power and nuclear customers.
3. Annual underlying revenue was GBP15 billion in 2017, around
half of which came from the provision of aftermarket services. The
firm and announced order book stood at GBP78.5 billion at the end
of December 2017.
4. In 2017, Rolls-Royce invested GBP1.4 billion on research and
development. We also support a global network of 31 University
Technology Centres, which position Rolls-Royce engineers at the
forefront of scientific research.
5. Rolls-Royce employs 55,000 people in 50 countries.
Approximately 19,400 of these are engineers.
6. The Group has a strong commitment to apprentice and graduate
recruitment and to further developing employee skills. In 2017 we
recruited 313 graduates and 339 apprentices through our worldwide
training programmes.
For further information, please contact:
Jennifer Ramsey
Head of Investor Relations
Rolls-Royce plc
Tel +44 (0) 20 7227 9087
jennifer.ramsey@rolls-royce.com
Richard Wray
Director of External Communications
Rolls-Royce plc
Tel +44 (0) 20 7227 9163
richard.wray@rolls-royce.com
www.Rolls-Royce.com
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END
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(END) Dow Jones Newswires
October 26, 2018 08:31 ET (12:31 GMT)
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