At a glance
Group overview
- Global provider of integrated power systems and services to the civil aerospace, defence aerospace, marine and energy markets
- Consistent, long-term strategy has seen revenue double and underlying profit increase more than five times in the last decade
- Substantial order book provides excellent visibility of future growth with good opportunities to improve margins and cash flow conversion
- Long Term Service Agreements (LTSAs) drive operational efficiency in aftermarket services versus traditional Time & Materials (T&M) business
Strategy
Customer
- Place the customer at the heart of the organisation
- Understand and shape their requirements
- Focus on responsiveness
Innovation
- Connect innovation to our customers
- Help our customers do more with less
- Develop technology, capability and infrastructure
Grow Profitably
- Grow our market share
- Expand competitive portfolio
- Focus on cost and cash
Key financials
| 2008 | 2009 | 2010 | 2011 | 2012 | 5Y CAGR | H1 2013 | |
|---|---|---|---|---|---|---|---|
Order book (£bn) |
55.5 | 58.3 | 59.2 | 62.2 | 60.1* | 1.61% | 69.2 |
| Underlying revenue (£m) | 9,147 | 10,108 | 10,866 | 11,277 | 12,209 | 5.94% | 7,320 |
| Underlying PBT (£m) | 880 | 915 | 955 | 1,157 | 1,409 | 10.18% | 840 |
| Underlying EPS (p) | 36.70 | 39.67 | 38.73 | 48.54 | 58.56 | 10.06% | 33.33 |
| Payments to shareholders (p) | 14.3 | 15.0 | 16.0 | 17.5 | 19.5 | 6.4% | 8.6 |
| Trading cash flow (£m) | 1,004 | 338 | 880 | 935 | 914 | (181) |
*Adjusted for removal of £4.6bn orders related to the disposal of IAE
Civil Aerospace
- 12,500 engines
- Powers 30 types of aircraft
- 300 airline and leasing customers
- 20 million flying hours in 2012
- 73% services revenue = LTSAs with "TotalCare"
Defence Aerospace
- 18,000 engines
- 24 engine programmes
- 103 countries
- 160 armed forces
- 25% services revenue = LTSAs with "MissionCare"
Marine
- 25,000 power & propulsion units
- 4,000 customers
- 70 navies
- Products on 30,000 vessels
- 5% services revenue = LTSAs mainly Naval
Energy
- 4,000 power systems
- 1,600 customers
- 120 countries
- 35% services revenue = LTSAs
Power Systems
- 800,000 power & propulsion units
- Customers across the marine, industrial, oil & gas, defence and power generation markets
HY13
Revenue £3,201m
HY13
Revenue £1,236m
HY13
Revenue £1,241m
HY13
Revenue £488m
HY13
Revenue £1,239m
Revenue by segment
Revenue by geography
