By Kyle Morris
Rolls-Royce Holdings PLC stated Thursday that its pretax loss widened for 2022 widened and {that a} strategic evaluation is underway to establish funding priorities.
The British aerospace and protection firm posted a pretax lack of 1.50 billion kilos ($1.81 billion) in contrast with a pretax loss for 2021 of GBP294 million.
Income got here in at GBP13.52 billion in contrast with GBP11.22 billion a yr prior.
For 2023, the corporate is focusing on working revenue steering of GBP0.8 billion-GBP1.0 billion and free money movement steering of GBP0.6 billion-GBP0.8 billion.
“Our transformation program is already underway and is transferring at tempo. It’ll embody a strategic evaluation in order that we are able to prioritize our funding in direction of probably the most worthwhile alternatives. We are going to report the findings along with our medium-term targets within the second half of this yr,” Chief Government Tufan Erginbilgic stated.
Rolls-Royce stated shareholder funds will not be made for 2022, however that it’s dedicated to resuming them.
Write to Kyle Morris at kyle.morris@dowjones.com