劳斯莱斯上调2026年利润和自由现金流指引，半年度利润大幅超预期

Rolls-Royce raises 2026 targets after profits beat expectations
Rolls-Royce has raised its financial targets for the year after reporting stronger than forecast first-half profits, driven by strong demand for its civil and military engines.
The FTSE 100 group, whose jet engines power large Airbus and Boeing planes, said it expected to deliver underlying operating profit of £4.7bn to £4.9bn for 2026, up from a previous forecast of £4bn to £4.2bn.
The company also raised its free cash flow guidance to between £3.8bn and £4bn for the year, up from £3.6bn to £3.8bn.
Chief executive Tufan Erginbilgiç — who has presided over a sweeping overhaul at the UK group that builds engines for both civil and military use, as well as power systems for data centres — said the company’s strong start to the year had enabled it to raise its guidance “despite the conflict in the Middle East”.
The company’s transformation, he added, was continuing to deliver. “We are transforming operationally, financially and strategically,” he told reporters on Thursday.
Rolls-Royce has continued to improve the profitability of its engine maintenance contracts in its civil business. The group has been investing to enhance the durability of its engines and expects to deliver a more than 100 per cent improvement in “time on wing” across its modern Trent engines by the end of 2027. This is a key metric as Rolls-Royce generates most of its revenues when its engines are operating.
Erginbilgiç also highlighted the company’s strong position as an engine provider for autonomous military vehicles — a Rolls-Royce engine powers Boeing’s MQ-25 Stingray, the US Navy’s unmanned aircraft.
The company’s power systems business was boosted by demand for both diesel backup and gas engines, he said.
Shares in Rolls-Royce have risen nearly 18 per cent since the start of the year. They were up 5 per cent to £14.49 in London on Thursday.
The company on Thursday reported a 46 per cent jump in underlying operating profits for the first six months to £2.5bn, compared with the same period last year. Underlying revenues came in at £11.2bn, an increase of 24 per cent.
Rolls-Royce in February upgraded its midterm targets following a strong performance in 2025. It expects underlying operating profit of £4.9bn to £5.2bn in 2028 and free cash flow of £5bn to £5.3bn. The company is also targeting an underlying operating margin of up to 20 per cent.
The company in February also announced its first multiyear share buyback in its history, saying it would buy back between £7bn and £9bn of its shares from 2026 to 2028, with £2.5bn to be completed this year.