Sir John Rose, Chief Executive, said:
“Rolls-Royce has delivered a strong performance in 2010 with record underlying
revenues and profits.
This reflects our global customer base and the balanced
portfolio of products and services that we offer. It is a measure of progress that the
Civil, Defence and Marine businesses now each generate underlying profits of more
than three hundred million pounds. During 2011 the Group expects good profit
growth and a modest cash inflow.
“At the end of March I will retire as Chief Executive of Rolls-Royce after fifteen years.
It has been an extraordinary privilege to work with so many outstanding people and
to contribute to the development of a business that has been at the forefront of
engineering and technology for over 100 years.
“John Rishton will take over from me as Chief Executive. I wish him and all the team
at Rolls-Royce continued success.”
Group Highlights:
Order book remains strong at £59.2bn (2009 £58.3bn), having booked £12.3bn
in new orders in 2010.
Group revenues increased to £11,085m (2009 £10,414m). Revenues on an
underlying basis* increased by seven per cent to £10,866m. Services revenues
increased by 13 per cent to £5,544m on an underlying basis.
Profit before financing was £1,134m (2009 £1,172m).
Underlying profit before taxation* increased by four per cent to £955m (2009
£915m).
The Group‟s financial position has been further strengthened:
o Average net cash for the period improved by £325m to £960m.
o Robust balance sheet with net cash of £1,533m at the period-end (2009
£1,275m) after a cash inflow in the period of £258m.
Final payment to shareholders increased 6.7 per cent to 9.60 pence per share,
making 16.00 pence per share for the full year.