Engine Overhaul Demand Tracking With Expectations, Rolls Says
Civil engine deliveries and aftermarket demand was “on track” with full-year guidance through April 30, and the company’s overall financial performance is “improving,” Rolls-Royce said May 11.
In a brief update provided ahead of its annual general meeting, Rolls said hours flown by large engines funder long-term service agreements totaled 83% of comparable 2019 figures for the first four months, in line with its 80%-90% full-year guidance.
Engine shop-visit volume is also on track. Rolls expects to generate 1,200-1,300 civil shop visits—air transport and business aviation—in 2023, compared to 1,044 in 2022.
“Our financial performance is in line with our expectations at the time of the  full year results,” the company said. “Our underlying operating profit guidance of £0.8 billion-£1.0 billion ($1.0-1.2 billion) and free cash flow guidance of £0.6-£0.8 billion in 2023 is unchanged.”
The company is in the midst of a broad strategic review and plans to release its findings later in 2023.