SLIDE 1
2012 Half-year results
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2
- Solid performance
- Full year 2012 Group guidance confirmed
- Continue to invest for future growth
Trusted to deliver excellence 1 2012 Half-year Solid performance - - PowerPoint PPT Presentation
Trusted to deliver excellence 1 2012 Half-year Solid performance - - PowerPoint PPT Presentation
2012 Half-year results Trusted to deliver excellence 1 2012 Half-year Solid performance Full year 2012 Group guidance confirmed Continue to invest for future growth Trusted to deliver excellence 2 Group highlights H1 2012 H1 2011 +
SLIDE 2
SLIDE 3
Group highlights
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H1 2012 H1 2011 + / - Order book (£bn) 60.1 57.6** +4% Revenue* (£m) 5,757 5,463 +5% Profit before tax* (£m) 637 595 +7% Net cash (£m) 869 223† +646 Earnings per share* 26.54p 23.89p +11% Payment to shareholders (p/share) 7.6p 6.9p +10% Trusted to deliver excellence
* Underlying figures ** Restated full year 2011 data excluding IAE order book of £4.6bn † Full year 2011 data
SLIDE 4
Group profit growth
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Trusted to deliver excellence
595 637 120 32 (75) (35) 500 550 600 650 700 750 HY 2011 UPBT Trading Net R&D Entry Fees Tognum HY 2012 UPBT
SLIDE 5
637 (92) (447) 646 237 1093 (517) (363) (86) (231) (124) (600) (400) (200) 200 400 600 800 1,000
Group cash flow
HY 2012 UPBT D&A NWC Capex & Intangibles Other Trading Cash Flow S/H Payment Pension Tax Other Base Cash Flow Acq Disp FX Gross Cash Flow
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Trusted to deliver excellence
SLIDE 6
Civil Aerospace
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H1 2012 H1 2011 + / - Order book (£bn) 49.4 47.3** +4% Engine deliveries 533 462 +15% Revenue* (£m) 3,034 2,604 +17% OE revenue* (£m) 1,314 1,047 +26% Services revenue* (£m) 1,720 1,557 +10% Profit before financing* (£m) 310 250 +24% Trusted to deliver excellence
* Underlying figures ** Restated full year 2011 data excluding IAE order book of £4.6bn
SLIDE 7
Defence Aerospace
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H1 2012 H1 2011 + / - Order book (£bn) 5.5 6.0**
- 8%
Engine deliveries 393 330 +19% Revenue* (£m) 1,134 1,088 +4% OE revenue* (£m) 559 504 +11% Services revenue* (£m) 575 584
- 2%
Profit before financing* (£m) 196 219
- 11%
Trusted to deliver excellence
* Underlying figures ** Full year 2011 data
SLIDE 8
Marine
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H1 2012 H1 2011 + / - Order book (£bn) 3.9 2.7** +44% Revenue* (£m) 1,070 1,171
- 9%
OE revenue* (£m) 622 695
- 11%
Services revenue* (£m) 448 476
- 6%
Profit before financing* (£m) 147 157
- 6%
Trusted to deliver excellence
* Underlying figures ** Full year 2011 data
SLIDE 9
Energy
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H1 2012 H1 2011 + / - Order book (£bn) 1.3 1.4**
- 7%
Revenue* (£m) 445 541
- 18%
OE revenue* (£m) 179 312
- 43%
Services revenue* (£m) 266 229 +16% Profit before financing* (£m) (5) (7) +29% Trusted to deliver excellence
* Underlying figures ** Full year 2011 data
SLIDE 10
Group financial strength
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Underpins long-term commitments
Credit rating Strong liquidity Debt maturities
- S&P upgrade to A: stable outlook
- Moody’s A3: stable outlook
- Total liquidity £3.15bn
- Access to global debt markets
- Spread to 2019
- No material refinancing 2012/13
Trusted to deliver excellence
SLIDE 11
IAE / Pratt & Whitney
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Status Next steps Reporting
- Sale of shareholding completed
- Announced new JV with P&W
- Regulatory approval for new JV
- Order book reduces by £4.6bn
- $1.5bn cash received
- +c.£70m profit for H2 2012
Trusted to deliver excellence
SLIDE 12
Tognum
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Status Next steps Reporting
- JV owns > 99%
- Legal process ongoing
- Delisting
- 2012 equity accounting assumption
- Tognum H1 results August 7th
- Full consolidation assumed sometime H1 2013
Trusted to deliver excellence
SLIDE 13
H1 2012 Summary
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Solid performance 2012 full year Group guidance confirmed
Trusted to deliver excellence
SLIDE 14
Q&A
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