Record revenues for Rolls-Royce Power Systems
Rolls-Royces Power Systems division saw adjusted revenue climb 15 % to a record GB£3.5bn or €3.9bn in 2018.
Adjusted profit rose to GB£317m (€358m) and the division also recorded an order pipeline worth GBP 3.1bn (EUR3.6bn), 28% above the previous year.
“Not only did we benefit from strong demand for our products due to the favorable state of the global economy, we are now also reaping the rewards of our hard work on the transformational change program which has made us significantly more profitable,” said Andreas Schell, CEO of Rolls-Royce Power Systems AG and head of the Power Systems division.
Marine sales were up 12%, with sales of industrial drive systems up a full 40%. Powergen revenue grew by 5%, making it the only segment with a lower rate of growth than in 2017, a year that saw unusually high increases.
Subsidiary Bergen Engines in Norway had a successful year in the stationary power generation market. For the first time, it produced more engines for power generation applications than for ship propulsion.
Demand for nuclear power remains high. With its range of small modular reactors, Civil Nuclear has a solution promising long-term export potential following its launch in the UK.
By Rebecca Jeffrey
