Rolls-Royce reported a better-than-expected set of FY19 results, beating expectations on the operating profit and FCF lines. The performance was largely driven by Aerospace. Management reaffirmed its £1bn FCF guidance for 2020. We were given litle detail about the 2019-nCoV outbreak, except an unquantified impact on air traffic growth in the near term. All in all, a good development in H2 19, but uncertainties remain in our view.
28 Feb 2020
FY19 figures above expectations, FY20 FCF target of £1bn confirmed
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FY19 figures above expectations, FY20 FCF target of £1bn confirmed
Rolls-Royce Holdings plc (RR:LON) | 427 20.1 1.1% | Mkt Cap: 35,973m
- Published:
28 Feb 2020 -
Author:
Luis Pereira -
Pages:
3
Rolls-Royce reported a better-than-expected set of FY19 results, beating expectations on the operating profit and FCF lines. The performance was largely driven by Aerospace. Management reaffirmed its £1bn FCF guidance for 2020. We were given litle detail about the 2019-nCoV outbreak, except an unquantified impact on air traffic growth in the near term. All in all, a good development in H2 19, but uncertainties remain in our view.