Rolls-Royce saw profit figures rise sharply in 2023

Rolls-Royce’s listed sales reached 15 billion pounds (17.5 billion euros) with an operating profit of 1.59 billion pounds and a gross profit of 1.14 billion pounds. In 2022, operating profit was £652 million and net profit was £158 million.

Rolls-Royce has three divisions, of which aircraft engine production, Civil Aerospace, is the largest. Last year the company’s turnover in this region was £7.3 billion. The other two units deal with submarine engines and other vessels.

New CEO
In addition to the improvement of the market, Rolls-Royce also seems to benefit from the change of the top staff in 2023. The CEO, Tufan Erginbilgiç, who came from the oil company BP a year ago, immediately introduced significant cost savings that were successful.

Rolls-Royce expects a further increase in results of 6 per cent in 2024. According to its own estimates, operating profit over the next twelve months could be between £1.7 billion and £2 billion.

Rolls-Royce shares rose nearly 27 percent on the London Stock Exchange on Thursday. In one year, the stock rose by 59 percent.