Ratings agency Moody’s has downgraded its rating of Rolls-Royce (RR.) to Baa1 from A3, citing the aerospace engineer’s high leverage and low free cash flow generation, and describing “unsustainable” expected working capital gains. At its first half, Rolls reported a negative free cash flow, posting a £391m outflow for its core business. It maintained its full-year guidance of around £700m and £1bn adjusted FCF for 2019 and 2020 respectively, but for 2019 this will be supported by working capital gains. Moody's expects around £600m-£800m of favourable working capital movements largely from inventory reductions and defence contract advance payments, adding that 2020 target cash flows will likely necessitate further inventory reductions. Moody’s did, however, upgrade its outlook from ‘negative’ to ‘stable’, citing improving performance and the long-term stability of Rolls’ engine programmes. Sell.
Components fell from a defective Rolls-Royce (RR.) Trent 1000 engine just after a Norwegian Air flight to Los Angeles took off on 10 August, plunging the aerospace engineer into a fresh crisis over its embattled engine programme. A report in The Times said that 25 cars and 12 houses were damaged after metal fragments fell from a Norwegian Boeing 787 Dreamliner’s Trent 1000 over the Roman suburb of Fiumicino just after take-off. A Norwegian Air spokesperson told the Investors Chronicle that the flight “experienced a technical issue a few minutes after take-off”. The airline is investigating the incident alongside Aeroporti di Roma and the Italian authorities. Sell.
RNS Number: 6162 I Rolls-Royce Holdings plc 09 August 2019 Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary...
RNS Number: 5968 I Rolls-Royce Holdings plc 09 August 2019. R olls-Royce Holdings plc reports that, as announced by ContourGlobal plc today, Ruth Cairnie will step down from her role as a Non-Executive Director of ContourGlobal with effect from 30 September 2019.. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the...
RNS Number: 4456 I Rolls-Royce Holdings plc 08 August 2019. Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 3090 I Rolls-Royce Holdings plc 07 August 2019 ANNEX. Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 3073 I Rolls-Royce Holdings plc 07 August 2019 ANNEX. Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 3070 I Rolls-Royce Holdings plc 07 August 2019 ANNEX. Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 2596 I Rolls-Royce Holdings plc 07 August 2019 Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. The purchase was completed on 7 August 2019 at a price of £7.57 per ordinary share.. RNS is approved by the Financial Conduct Authority to act as a Primary...
Aero-engines maker Rolls-Royce Holdings has announced a 32% increase in interim underlying operating profits to £203m on revenues 5% higher at £7.88bn. The group, which is still grappling with service issues with its Trent 1000 engines, saw underlying revenues grow by 11% in civil aerospace and by 6% in power systems. A further exceptional charge of £59m was taken against the effect of Airbus’s decision to cease production of its A380 aircraft, while there were also restructuring charges of £69m. Overall, the group made an operating profit of £83m, compared with a £747m operating loss in the same period of last year. Pre-tax losses were trimmed from £1.23bn to £791m. The company says it remains on track to meet its guidance for full-year underlying core operating profits and free cash flow of between £600m-£800m.
Rolls-Royce (RR.) recognised exceptional charges of £59m for its Trent 900 engine programme in its interims, following Airbus’s decision to close its A380 production, taking total exceptional costs to £245m. The aerospace engineer, meanwhile, continues to invest in resolving its issues with its stricken Trent 1000 programme - the pace of decline has been “slightly below our original plans” and “in-service cost estimates increased by a total of £100m across the next three years”. Sell.
Rolls-Royce Holdings Plc (RR..L) Announced, in its interim results for the six months ended 30 June 2019, that the revenue rose to £7.88 billion from £7.49 billion posted in the same period preceding year. The company’s profit before tax stood at £201.0 million, compared to loss of £389.0 million reported in the previous year. The basic loss per share stood at 48.02p compared to loss per share of 51.60p reported in the previous year. The company’s cash and equivalents stood at £4.21 billion.
RNS Number: 9831 H Rolls-Royce Holdings plc 06 August 2019. ROLLS-ROYCE HOLDINGS PLC- 2019 Half Year Results. Warren East, Chief Executive commented: "We delivered further progress across the group in the first half in line with our full year expectations.
RNS Number: 8894 H Rolls-Royce Holdings plc 05 August 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 3830 H Rolls-Royce Holdings plc 31 July 2019. In accordance with DTR 5.6. 1 of the FCA's Disclosure Guidance and Transparency Rules, the Company is required to notify the market of its total number of voting rights and capital as at the end of each calendar month.. ·1 Special Rights non-voting share of £1 with no voting rights..
RNS Number: 6284 G Rolls-Royce Holdings plc 24 July 2019 24 July 2019 ROLLS-ROYCE CONFIRMS TERMINATION OF DISCUSSIONS. Annual underlying revenue was £15 billion in 2018, around half of which came from the provision of aftermarket services. In 2018, Rolls-Royce invested £1.4 billion on research and development.
RNS Number: 8783 F Rolls-Royce Holdings plc 17 July 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 7261 F Rolls-Royce Holdings plc 16 July 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 9651 E Rolls-Royce Holdings plc 09 July 2019. Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 9590 E Rolls-Royce Holdings plc 09 July 2019 Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. The purchase was completed on 08 July 2019 at a price of £8.63588 per ordinary share.. RNS is approved by the Financial Conduct Authority to act as a Primary...
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Company Profile

Aero-engine maker Rolls-Royce powers both military and civil aircraft and is a big supplier of power generating turbines to the marine and energy markets. The company, once famous for its prestige motor cars, sold the car business to Vickers in 1980, but retained the rights to the brand name. These rights were transferred to Germany's Volkswagen in 1998 and then passed on to BMW in 2003.

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HQ
62 Buckingham Gate
London
SW1E 6AT
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