The aim is to achieve 15-17% turnover from this sector
The British Rolls-Royce Group will strengthen its civil aerospace sector. It was announced by management during the presentation of the new business plan and the 2023 annual financial estimates: operating profit is expected at 3.53 billion dollars, more than double the forecast. To achieve the objective, the aim is to have a turnover share of 15-17% (it was 2.5% last year) deriving from aerospace.
"We are setting compelling and achievable financial targets for the medium term that will take Rolls-Royce significantly beyond any previous financial performance", explains the Group's CEO, Tufan Erginbilgic, according to whom the next generation of engines will allow the company to return to being competitive in the sector of engines for narrowbody aircraft.
The company's new master plan is the result of work that lasted almost a year. This is a strategy that looks to the medium term, that is it expects a radical change by 2027 that will allow the company to resolve some inefficiencies and compete better against rival company General Electric, its main competitor in the widebody aircraft engine sector. Following the announcement, the value of Rolls-Royce shares rose by 4%.