‘We are moving with pace and intensity’ – Rolls-Royce posts impressive 2024 results
Derby manufacturing giant Rolls-Royce has posted stellar results for 2024, with the company’s boss saying it is “moving with pace and intensity.
Rolls-Royce’s underlying profit rose from £1.26bn to £2.29bn last year and it is forecasting its 2025 adjusted operating profit to come in between £2.7bn and £2.9bn.
The firm has upgraded its mid-term operating profit targets to between £3.6bn-£3.9bn and has lauched a £1bn share buyback that will start immediately.
Tufan Erginbilgic, CEO said: “Strong 2024 results build on our progress last year, as we transform Rolls-Royce into a high-performing, competitive, resilient, and growing business. All core divisions delivered significantly improved performance, despite a supply chain environment that remains challenging.
“We are moving with pace and intensity. Based on our 2025 guidance, we now expect to deliver underlying operating profit and free cash flow within the target ranges set at our Capital Markets Day, two years earlier than planned. Significantly improved performance and a stronger balance sheet gives us confidence to reinstate shareholder dividends and announce a £1bn share buyback in 2025.
“Our upgraded mid-term targets include underlying operating profit of £3.6bn-£3.9bn and free cash flow of £4.2bn-£4.5bn. These mid-term targets are a milestone, not a destination, and we see strong growth prospects beyond the mid-term.”
