News Column

Rolls-Royce Announces GBP1bn Share Buyback

June 20, 2014



ENP Newswire - 20 June 2014

Release date- 19062014 - Rolls-Royce today committed to a share buyback of GBP1bn subject to the completion of the sale of its Energy gas turbine and compressor business to Siemens.

The sale announced on 6 May this year, is expected to complete by the end of 2014.

John Rishton, CEO of Rolls-Royce, said: 'As no material acquisitions are planned, and reflecting the strength of our balance sheet, we will return the proceeds of the Energy sale to our shareholders'.

Today's announcement coincides with an investor briefing at which Rolls-Royce will provide an update on Group strategy, capital allocation, financial guidance framework and TotalCare accounting.

During the briefing, the following information will be provided:

.Group guidance confirmed for 2014 and 2015

.Group capital expenditure driven towards 4% of underlying revenue over 3-5 years from the FY13 figure of 4.9%

.Current expectations for Trent deliveries to exceed 4,000 engines by 2023

.The Group continues to target a credit rating of between A- and A+

Today's investor presentation will be webcast at 9.00am BST and is available at: http://www.media-server.com/m/p/azsity3o

A further investor briefing will be held in October.


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Source: ENP Newswire