Rolls-Royce: strong growth in the energy transition
In the first half of 2023, underlying sales for Rolls-Royce's Power Systems business unit leapt 24% to £1.8 bn (€2bn).
Order intake in Power Systems business was 14% lower than the prior period.
The energy transition in the manufacturing sector
Rolls-Royce reported:
- Service revenues had increased by 10%, proving increased end market activity
- OE revenue advanced by 33%, due to orders for stationary powergen equipment and mobile power solutions for the marine and mining segments
- Operating profit reached £125m (€143m) with a 7.0% margin
For the rest of 2023, the company expects further positive developments, owing to the impact of pricing actions, cost efficiencies and seasonally higher volumes.
"We are pursuing our chosen path of profitable growth - with initial successes already,” said Dr Jörg Stratmann, CEO at Rolls-Royce Power Systems. “We have successfully initiated and implemented numerous measures. We reliably support our customers worldwide in their goals with our products and solutions - for example, with our MTU engines, which have been approved for operation with alternative fuels such as HVO. In this way, we are making an important contribution to the energy transition in various industries."
Rolls-Royce aims to use hydrogen energy
Rolls-Royce is investigating sustainable fuels and technologies to reduce emissions.
German aircraft engineering company MTU Aero Engines designed the MTU engines and with green hydrogen, they can run in a CO2-neutral manner.
“This engine will serve the market demand for hydrogen solutions in the energy transition and will be available to our customers as a reliable and clean power source for gensets and combined heat and power plants,” said Tobias Ostermaier, President at Stationary Power Solutions, Rolls-Royce business unit Power Systems.
“It can be used for both storage of excess energy and as a fuel, not only for engines but fuel cells and cogeneration plants to generate climate-neutral electricity and heat,” added Stratmann.
Read more here.
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