EUROPE REPORT
Rolls Royce Power Systems Business Unit, based in Friedrichshafen, Germany, reported sales of EUR 4.56 billion in fiscal 2023, a 16% increase over 2022. Operating profit hit 10.2%, up from 8.4% in 2022.
The operating profit increase is due to the investments in transformation and process optimization, implementation of a new commercial policy, better cost, and stock management.
Strong demand for standby power generation especially for data centers, implementation of the “From bridge to the propeller” strategy for large yachts, and development of an energy storage systems in Europe integrating renewable energies into the Duch public grid have contributed significantly to the revenue growth.
Rolls Royce Power Systems continues investments into the development of engines using alternative fuels such as hydrogen and focuses its business on five strategic initiatives: power generation, marine, governmental business, battery storage and service.
Source: Rolls Royce Read The Article
Dr. Joerg Stratmann, CEO of Rolls-Royce Power Systems AG, says “We’re seeing growth potential in nearly all our markets, largely independent of global economic developments. Our transformation with its strong focus on high-margin business and profit is paying off. After taking the first steps in implementing the new strategy last year, we are now working rigorously on continued implementation,” he added, “and are convinced it’s going to enable us to set technological and economic standards in the industry.” PSR
Natasa Mulahalilovic is Finance and Admin. Manager – Europe for Power Systems Research
