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Rolls-Royce Holdings Plc (LON: RR.) has released its trading updates for 11 months to end November.
The company has stated that its restructuring plans are going as planned to deliver the company’s targeted £1.3 billion cost savings by 2022. The company also has at least £1billion of near-term cash cost mitigations corroborated for 2020.
- For the reported period large engine LTSA invoiced flying hours (EFH) were around 42 per cent of their prior year level.
- The company has kept its guidance unchanged and is expecting to turn cash flow positive at some point during the second half of 2021.
- The company is targeting at least £750 million free cash flow (excepting disposals) as early as 2022 and at least £2 billion from disposal proceeds.
- The expected 2020 Free Cash Flow (FCF) of around negative £4.2billion, based on the timing of year-end working capital cash flows. This is expected to result in year-end net debt £1.5-£2.0 billion and liquidity £8.5 £9.0 billion.
- The stocks of the company on 11 December 2020, traded lower by 7.87% from its previous closing, hovering at around GBX 117.00 at 12:31 PM GMT+1.
