Rolls-Royce Holdings plc (OTCPK:RYCEY) Q4 2021 Earnings Conference Call February 24, 2022 3:30 AM ET Company Participants Isabel Green - Head, IR Anita Frew - Chair Warren East - CEO Panos Kakoullis - CFO Conference Call Participants Celine Fornaro - UBS Robert Stallard - Vertical Research George Zhao - Bernstein Ben Heelan - Bank of America Harry Breach - Stifel David Perry - JPMorgan Andrew Humphrey - Morgan Stanley Charles Armitage - Citigroup Disclaimer*: This transcript is designed to be used alongside ...

2021 Full Year Results 24 February 2022 1 2021 Full Year Results © Rolls-Royce Safe harbour statementThis announcement contains certain forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. In particular, all statements that express forecasts, expectations and projections with respect to future matters, including trends in results of operations, margins, growth rates, overall market trends, the impact of intere ...

2021 Half Year Results 5 August 2021 2021 Half Year Results © Rolls-Royce 1 This announcement contains certain forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. In particular, all statements that express forecasts, expectations and projections with respect to future matters, including trends in results of operations, margins, growth rates, overall market trends, the impact of interest or exchange rates, the ...

Financial Data and Key Metrics Changes - The underlying operating profit increased significantly to £307 million, compared to an underlying operating loss of £1.6 billion in the previous year, which included £1.2 billion of one-off charges related to COVID-19 [30][23] - Free cash flow improved to a cash outflow of just under £1.2 billion, a significant improvement from the £2.9 billion outflow in the previous period [40][22] - The company ended the period with net debt before leases of £3.1 billion, expecting to reach around £4 billion by year-end [46] Business Line Data and Key Metrics Changes - Civil Aerospace revenue was £2.2 billion, down 13% year-on-year, but operating profit returned to £39 million [34] - Defence revenue increased by 17% year-on-year to £1.7 billion, with operating profit rising to £269 million from £210 million [35] - Power Systems saw stable revenues with an operating profit of £41 million, up from £33 million in the first half of 2020, and order intake increased by 19% to £1.4 billion [38][39] Market Data and Key Metrics Changes - Large engine long-term service agreement flying hours were at 43% of 2019 levels, up from 34% in the second half of 2020 [33] - Domestic flying activity in regions like China has returned to 2019 levels, indicating a recovery in business aviation [32][90] Company Strategy and Development Direction - The company is focused on achieving net zero emissions by 2050, with plans to develop new technologies and accelerate the use of sustainable fuels [17][60] - A restructuring program is on track, aiming for a reduction of at least 9,000 roles, with around 8,000 already removed [18] - The company is exploring new growth opportunities in electrical and small modular reactors (SMRs) as part of the energy transition [71][77] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a positive cash flow in the second half of the year, despite uncertainties in international travel recovery [50][96] - The outlook remains sensitive to the timing of original equipment (OE) concession outflows, with expectations for a gradual recovery in engine flying hours [51][52] - The company anticipates that the recovery in international travel will accelerate once border restrictions are lifted, with a return to 2019 levels expected around 2024 or 2025 [109] Other Important Information - The company has a strong liquidity position of £7.5 billion, with no debt maturities before 2024 [24][47] - The disposal program is progressing well, targeting proceeds of at least £2 billion [48][81] Q&A Session Summary Question: What is the expected benefit to free cash flow this year from the deferred payments on the Trent 1000? - Management indicated variability in concession payments and reiterated guidance for a £2 billion outflow this year, considering both concessions and engine flying hours [85][89] Question: What proportion of engine flying hours were from Asia Pacific, ex-China, pre-COVID? - Approximately 20% of 2019 levels of engine flying hours were exposed to international flights in that region [93] Question: Have you seen any impact from the retirement of older aircraft? - No significant changes were noted in the patterns of older aircraft retirements compared to the previous year [99] Question: What is the breakeven rate for engine flight hours for free cash flow? - Management stated that achieving breakeven is dependent on various factors, including engine flight hours, and expects to reach positive cash flow in the second half of the year [105][106] Question: What is the impact of disposals on targeted free cash flow? - The impact of disposals on free cash flow is not significant, and management expects to see some outflow related to concession payments [113][115] Question: How do you view the balance sheet and the complexity of financial reporting? - Management aims to improve the balance sheet towards an investment-grade credit profile while maintaining a comfortable business model that supports customer retention [118][122]

Rolls-Royce Holdings PLC (OTCPK:RYCEF) Q4 2020 Earnings Conference Call March 11, 2021 4:00 AM ET Company Participants | --- | --- | |-------------------------|----------------------------------------------------------------------------------------------| | | | | Isabel Green - Head, IR | | | | Warren East - CEO & Executive Director | | | Stephen Daintith - CFO & Executive Director | | | Conference Call Participants | | | Andrew Humphrey - Morgan Stanley | | Celine Fornaro - UBS | | | | Chloe Lemarie - Exan ...

2020 Full Year Results 11 March 2021 1 2020 Full Year Results © Rolls-Royce Full Year Safe harbour statement This announcement contains certain forward-looking statements. These forwardlooking statements can be identified by the fact that they do not relate only to historical or current facts. In particular, all statements that express forecasts, expectations and projections with respect to future matters, including trends in results of operations, margins, growth rates, overall market trends, the impact of ...

Rolls-Royce Holdings Ltd (OTCPK:RYCEF) Q2 2020 Earnings Conference Call August 27, 2020 4:00 AM ET Company Participants Isabel Green - IR Warren East - CEO Stephen Daintith - CFO Conference Call Participants Chloe Lemarie - Exane BNP Paribas George Zhao - Bernstein Celine Fornaro - UBS Chris Hallam - Goldman Sachs Nick Cunningham - Agency Partners Mr. Khan - Societe Generale Andrew Humphrey - Morgan Stanley Isabel Green Welcome, everyone, to our 2020 half year results presentation. With me today are Warren ...

H1 2020 Performance & COVID-19 Impact - The COVID-19 pandemic significantly affected Rolls-Royce's H1 2020 performance, particularly impacting the civil aviation sector[5, 6, 13, 15, 16, 34, 39, 49, 80, 90] - Group revenue decreased by 24% due to the pandemic[5, 21] - The company reported an operating loss of £(1.7) billion in H1 2020[5] - Civil Aerospace and ITP Aero were the most affected segments, while Defence showed resilience and Power Systems was less severely impacted[6, 7, 15, 50, 81, 90] - Civil Aerospace revenue decreased by 37%, including a 24% reduction in OE (Original Equipment) revenue and a 46% reduction in services revenue[34] Restructuring and Financial Performance - Rolls-Royce initiated a £1.3 billion group-wide restructuring program, including a major reorganization of the Civil Aerospace business[5, 8, 14, 51, 72, 81, 90] - The company aims to resize Civil Aerospace for a smaller mid-term market[8, 14, 51, 81, 90] - A target of £750 million in Free Cash Flow (FCF) is set for as early as 2022, with further growth expected thereafter[9, 14, 52, 60, 62, 64, 81, 90] - The company is implementing cost mitigation measures, with £350 million delivered in H1 towards a £1 billion target for 2020[5] Balance Sheet and Liquidity - Rolls-Royce took rapid actions to strengthen liquidity, reaching £6.1 billion at the end of H1, and secured a £2.0 billion loan in H2[5] - The company aims to return to a net-cash position (excluding leases)[10, 14, 53, 82, 85, 90] - Potential disposals were announced to generate >£2 billion in proceeds to strengthen the balance sheet[5, 11, 14, 54, 83, 86, 90, 91] Strategic Priorities and Outlook - Rolls-Royce is focused on maximizing value from its existing positions and driving growth across the broader Group[12, 14, 55, 56, 91] - The company continues its long-term ambition to lead the low-carbon transition[13, 14, 56, 91, 99] - The company anticipates a return to positive free cash generation during H2 2021[48, 59] - Net debt (excluding leases) at year-end 2020 is expected to be approximately £3.5 billion[48, 84, 85]

Rolls-Royce Holdings plc (OTCPK:RYCEF) Q4 2019 Results Conference Call February 28, 2019 4:00 AM ET Â Company Participants Peter Lapthorn - IR Warren East - CEO Stephen Daintith - CFO Conference Call Participants Rob Stallard - Vertical Research Celine Fornaro - UBS Nick Cunningham - Agency Partners Harry Breach - MainFirst Benjamin Heelan - BofA Merrill Lynch Peter Lapthorn Good morning, everyone. And thank you for joining us here at the London Stock Exchange and for those of you joining online. My name is ...

2019 Full Year Results 28 February 2020 2019 Full Year Results © Rolls-Royce 1 Highlights Warren East Chief Executive 2019 Full Year Results © Rolls-Royce 2 Underlying core revenue Underlying core operating profit £15.3bn +6%* £810m +25%* Results summary After challenging first half, we had a good end to the year & delivered a strong | --- | --- | --- | --- | |-------|-------|----------------------|---------------------| | | | | | | | | 'Dividend' per share | Core underlying EPS | | | 11.7p | 2018: 11.7 p | ...