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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 : plans to raise up to 2.5 billion stg as COVID-19 bites

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09/19/2020 | 06:29pm EDT
FILE PHOTO: A man looks at Rolls Royce's Trent Engine displayed at the Singapore Airshow in Singapore

Britain's Rolls-Royce Holdings Plc said on Saturday it was looking to raise up to 2.5 billion pounds ($3.2 billion) in an effort to strengthen its balance sheet.

The aero-engine maker said it was considering a variety of options, including a rights issue. Debt and equity issuances are other options being considered, it added.

"We continue to review all funding options to enhance balance sheet resilience and strength," its statement said .

A Financial Times report said the company was in talks with sovereign wealth funds, including Singapore's GIC, as part of its efforts to raise funds.

An equity raise will be launched in the first weeks of October, the report added.

GIC did not immediately respond to a Reuters request for comment. Rolls-Royce declined to comment beyond its statement.

The Derby-based company has been reviewing funding options for the past few months, after suffering a blow from travel restrictions linked to the COVID-19 pandemic.

It reduced at least 9,000 jobs in May, mainly in civil aviation, due to the slump in air travel and revealed its plans to sell Spanish unit ITP Aero and other assets, last month.

In July, the group said it expected a 1-billion-pound outflow in the second half of the year after burning through 3 billion pounds in the first half.

($1 = 0.7744 pounds)

By Maria Ponnezhath


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Financials
Sales 2020 10 995 M 14 239 M 14 239 M
Net income 2020 -2 264 M -2 932 M -2 932 M
Net Debt 2020 4 527 M 5 862 M 5 862 M
P/E ratio 2020 -0,60x
Yield 2020 -
Capitalization 5 959 M 7 720 M 7 717 M
EV / Sales 2020 0,95x
EV / Sales 2021 0,97x
Nbr of Employees 51 700
Free-Float 99,4%
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Technical analysis trends ROLLS-ROYCE HOLDINGS PLC
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Mean consensus HOLD
Number of Analysts 18
Average target price 145,56 GBX
Last Close Price 71,32 GBX
Spread / Highest target 601%
Spread / Average Target 104%
Spread / Lowest Target -57,9%
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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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