Record orders and a solid performance for Rolls

Announcing its financial results for 2009, the group said an order intake of £13.4 billion resulted in a record order book at the year-end of £58.3 billion (2008: £55.5bn). Group revenues increased to £10.4 billion (2008 £9.1bn) while underlying pre-tax profit increased by four per cent to £915 million (2008 £880m). 2009 had been "a remarkable year" in which the first flight of six new types of aircraft powered by Rolls-Royce engines wase celebrated - the Boeing 787, Gulfstream G650, Airbus A400M, Embraer Legacy 650, the BAES MANTIS UAV and the Lynx Wildcat helicopter. Chief executive Sir John Rose said: "Rolls-Royce has delivered a solid set of results despite difficult trading conditions. This demonstrates the resilience of our business. "Our record order book, the breadth of the portfolio across all four sectors, our strong balance sheet and the early action we have taken to reduce costs will enable us to manage short-term difficulties and deliver long-term growth." Looking ahead, he said that revenues and profits in 2010 were expected to be broadly similar to those achieved in 2009. In a review of its year, Rolls said the business had been affected by the global economic downturn and by continued delays in a number of major programmes. These included the Airbus A380, the Boeing 787 and the Airbus A400M military transport aircraft. Revenues generated from outside civil aerospace continued to grow strongly comprising 56 per cent of revenues in 2009. This was driven by increases of 19 per cent and 17 per cent respectively in the company's defence and marine segments, and 36 per cent growth in its energy business where revenues exceeded £1 billion for the first time. Group profits had more than doubled since 1999 and had become less dependent on Rolls' traditional markets of Europe and North America during that time. These territories had accounted for around 70 per cent of revenues in 1999, and now represented 66 per cent with the trend set to continue as almost half of the the order book now related to business in Asia, the Middle East and South America. "We have become a much more international company, with new manufacturing and service facilities spread across five continents," the company said.