Strong Financial Performance
Group operating profit grew by 50% to GBP 1.7 billion, with operating margin increasing by 4.9 percentage points to 19.1%. Free cash flow was GBP 1.6 billion, 37% higher than last year.
Civil Aerospace Success
Operating profit in Civil Aerospace grew by 63% to GBP 1.2 billion, with an operating margin increase of 7.1 percentage points to 24.9%. Aftermarket revenue for large engines grew by 28%.
Power Systems Growth
Power Systems operating profit increased by 89% to GBP 313 million, with a 5.6 percentage point rise in operating margin to 15.3%. Order intake grew by 32% year-on-year.
Defence Segment Strength
Order intake for Defence was GBP 4 billion with a book-to-bill ratio of 1.8x. The order backlog reached GBP 18.8 billion, a record level.
Strategic Initiatives and Investments
Continued strategic initiatives resulted in significant contract renegotiations benefiting cash flows by GBP 1.4 billion over contract life. Investments in time on wing and UltraFan are driving future growth.