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 [2022] 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.