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Rolls-Royce Holdings Plc reaffirmed its full-year 2025 outlook after reporting strong trading results through October, supported by robust demand across its Civil Aerospace, Power Systems, and Defence divisions. The company said its performance remains on track to meet guidance, including an underlying operating profit between £3.1 billion and £3.2 billion and free cash flow of £3 billion to £3.1 billion.
CEO Tufan Erginbilgic said the company’s strategic initiatives and operational improvements continue to drive momentum despite persistent supply chain pressures. Civil Aerospace remained a major growth engine, with significant large-engine orders from IndiGo, Malaysia Airlines, and Avolon in the second half of the year. Interest in the Trent XWB-97 engine for the Airbus A350F grew notably in Asia, including from Air China Cargo and Korean Air. Large engine flying hours increased 8% year over year, rising to 109% of 2019 levels.
Rolls-Royce highlighted key milestones in product reliability, including the upgraded Trent 1000 high-pressure turbine blade, certified in June, which more than doubled time on wing. Additional durability upgrades for the Trent 1000 and Trent 7000 are expected by the end of 2025. The company also noted the successful delivery of the first Gulfstream G800 powered by the Pearl 700 engine.
In Defence, demand stayed resilient as the Global Combat Air Programme expanded its collaboration, and Rolls-Royce advanced technologies such as additive-manufactured combustors. A major agreement between Türkiye and the U.K. to export 20 Eurofighter Typhoons—powered by EJ200 engines—further strengthened the order pipeline. Progress also continued on Project Pele and nuclear energy partnerships in the U.S.
Power Systems saw strong revenue growth driven by data centre and government demand. Testing of next-generation engines and the first successful run of a 100% methanol marine engine marked important steps toward low-carbon propulsion solutions.
Rolls-Royce also continued streamlining operations, opened a new global capability centre in Bengaluru, and strengthened its balance sheet by repaying a $1 billion bond and advancing its £1 billion share buyback programme, with £0.9 billion completed by October.
