Tufan Erginbilgic's mission to reverse Rolls-Royce's years of underperformance got off to a strong start when a recovery in flying helped it soundly beat forecasts for profit and cash in 2022 and raise its expectations for this year.
It will look at Rolls-Royce's footprint, and simplify and optimise commercial operations, he said.has been a long-standing problem.
Erginbilgic said he'd toured major sites in Britain, the United States and Germany, and his impression was they "all have a great potential to create value for Rolls-Royce". He said he would focus on reducing its debt, which stood at 3.25 billion pounds at year-end, to obtain an investment grade, before resuming payouts to shareholders.
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