Rolls-Royce Holdings PLC (OTCPK:RYCEY) Q2 2019 Results Conference Call August 6, 2019 4:00 AM ET Company Participants Jennifer Ramsey - IR Warren East - CEO Stephen Daintith - CFO Conference Call Participants Andrew Humphrey - Morgan Stanley Harry Breach - MainFirst Bank Jennifer Ramsey Great. Okay. So, thank you for joining us here at the London Stock Exchange and for those of you joining online. My name is Jennifer Ramsey, and I lead the Investor Relations team at Rolls-Royce. It's my pleasure to welcome ...

Financial Performance - Underlying core revenue increased by 7% to £7.2 billion[9, 41] - Underlying core operating profit increased by 33% to £203 million[9, 41] - Core free cash flow was £(391) million, compared to £10 million in H1 2018[10] - The company aims for >£1 free cash flow per share[13] - The company is committed to restoring shareholder payments as FCF grows and aspires to a mid-term dividend cover of 2.5x through the cycle[15] Business Unit Performance - Civil Aerospace underlying revenue increased by 11% to £4.018 billion, with an operating loss of £(21) million[41, 83] - Power Systems underlying revenue increased by 6% to £1.553 billion, with operating profit increasing by 20% to £96 million[41, 85] - Defence underlying revenue increased by 2% to £1.494 billion, with operating profit increasing by 2% to £173 million[41, 87] - ITP Aero underlying revenue increased by 23% to £457 million, but operating profit decreased by 18% to £32 million[41, 91] Trent 1000 Update - Cash cost in H1 2019 for Trent 1000 was £219 million, compared to £107 million in H1 2018[26] - Incremental cash cost increase for Trent 1000 pack B/C is expected to be £450 million - £500 million in 2019, declining by £50 million - £100 million in 2020[28] Restructuring and Cost Savings - Run-rate cost savings of £134 million per annum have been achieved to date through restructuring[12, 21] - Cumulative net headcount reduction is approximately 1,600[21] Guidance - FY 2019 core free cash flow is guided at £700 million +/- £100 million[97, 98] - Civil Aerospace revenue is expected to grow around 10%[101] - Power Systems revenue is expected to grow by mid-single digits[102] - ITP Aero revenue is expected to grow around 10%[104]

Rolls-Royce Holdings PLC (OTCPK:RYCEY) Q4 2018 Earnings Conference Call February 28, 2019 4:00 AM ET Company Participants Warren East - CEO & Executive Director Stephen Daintith - CFO & Executive Director Jennifer Ramsey - IR Conference Call Participants Christian Laughlin - Sanford C. Bernstein & Co. Robert Stallard - Vertical Research Partners Nick Cunningham - Agency Partners Andrew Gollan - Berenberg Zafar Khan - Societe Generale Charles Armitage - Citigroup Celine Fornaro - UBS Investment Bank Harry Br ...

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