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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Rolls-Royce Holdings plc    RR.   GB00B63H8491

ROLLS-ROYCE HOLDINGS PLC

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Rolls Royce : Trent XWB Update

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08/11/2020 | 11:32am EDT

The Trent XWB-84, the world's most efficient in-service large civil aero engine, continues to deliver unequalled on-wing reliability with the early batch of engines successfully reaching their planned time on wing. The first engines are now approaching their first scheduled shop visits, around five years after entering into service on the Airbus A350, having travelled an average of 14 million kilometres with no unplanned maintenance and record low levels of in-flight disruption.

During routine inspections as part of these scheduled shop visits, we have identified indications of wear in the Intermediate Pressure Compressor (IPC) of a small number of engines that have been in service for four to five years and are approaching their first overhaul. None of these engines have experienced any abnormal in-flight operation, however we are inspecting all other Trent XWB-84 engines of a similar service life as a precaution.

Given the limited scale of additional work which we anticipate will be required at existing shop visits to address this wear, together with the availability of replacement parts and spare engines, we do not expect this issue to create significant customer disruption or material annual cost. We are providing this update to address any potential speculation which may result from an Airworthiness Directive (AD) which is to be issued by our regulator, the European Union Aviation Safety Agency (EASA). ADs are a commonplace instrument used by aviation regulators to ensure compliance with necessary inspection and maintenance procedures.

There are currently just over 100 Trent XWB-84s that have been in service for four to five years. We have inspected the majority of them and found signs of wear on an average of only 1 or 2 IPC blades in a minority of those inspected. We have also taken the precaution of sampling a number of younger Trent XWB-84 engines and have found no unexpected wear.

Chris Cholerton, President - Civil Aerospace, said: 'The Trent XWB-84 has experienced the smoothest entry into service of any widebody engine we have developed. It is the most efficient in- service large civil aero-engine in the world, with unequalled on-wing reliability. Engines now coming in for overhaul have travelled the equivalent of 350 times around the world, with no unplanned maintenance. It is reassuring to see that our proactive inspection regime has enabled us to identify and swiftly address this issue and minimise any potential impact on our customers.'

About Rolls-Royce Holdings plc

Rolls-Royce pioneers cutting-edge technologies that deliver clean, safe and competitive solutions to meet our planet's vital power needs.

Rolls-Royce has customers in more than 150 countries, comprising more than 400 airlines and leasing customers, 160 armed forces, 70 navies, and more than 5,000 power and nuclear customers.

Annual underlying revenue was GBP15.45 billion in 2019, around half of which came from the provision of aftermarket services.

In 2019, Rolls-Royce invested GBP1.46 billion on research and development. We also support a global network of 29 University Technology Centres, which position Rolls-Royce engineers at the forefront of scientific research

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2020 10 927 M 14 063 M 14 063 M
Net income 2020 -1 760 M -2 265 M -2 265 M
Net Debt 2020 5 450 M 7 014 M 7 014 M
P/E ratio 2020 -1,43x
Yield 2020 -
Capitalization 2 863 M 3 680 M 3 685 M
EV / Sales 2020 0,76x
EV / Sales 2021 0,77x
Nbr of Employees 51 700
Free-Float 99,4%
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Mean consensus HOLD
Number of Analysts 20
Average target price 280,04 GBX
Last Close Price 149,25 GBX
Spread / Highest target 278%
Spread / Average Target 87,6%
Spread / Lowest Target -56,4%
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Managers
NameTitle
David Warren Arthur East Chief Executive Officer & Director
Ian Edward Lamert Davis Chairman
Stephen Wayne Daintith Chief Financial Officer & Executive Director
Paul Stein Chief Technology Officer
Lewis William Killcross Booth Independent Non-Executive Director
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