Our business model

Design

We are a design partner to our customers, anticipating their needs, providing breakthrough technologies and creating high-quality, highly engineered solutions. We invest in developing innovative solutions to the most pressing and complex challenges across the sector, aiming to grow in attractive markets. Our technology development is focused on accelerating the future of zero-emission flight.

Deliver

Delivering on our commitments is the foundation of our business. We drive operational excellence to ensure our customers receive high quality products on time, whilst generating long‑term value for our investors. This ensures a vibrant and trusted business for all stakeholders. We take pride in our work, ownership of our commitments, and always deliver on our promises.

Improve

Continuous improvement is central to our success and applies throughout all that we do. We are committed to unlocking value through ongoing improvement in customer fulfilment, employee engagement, environmental impact and financial performance. We maintain a relentless focus on profitable, sustainable and cash generative growth.

Deliver growth from existing platforms

Production ramp‑up
Increasing returns from RRSPs
Engines repair expansion
Operational and commercial excellence

Expand in targeted new opportunities

Engines additive fabrication
Advanced Air Mobility
Military uncrewed
China growth

Participate in next generation aircraft

Next generation engines
Future single aisle
6th generation fighters
Hydrogen flight

c.£5bn

Group revenue

£1.2bn+

Adjusted operating profit

24%+

Margin

£600m

Free cash flow (after tax and interest)

>20%

Earnings per share annual growth¹

2x

Leverage to remain below
2x adjusted EBITDA

£300m

Gross capex committed to additive fabrication expansion

We design breakthrough technology

90%

Today's major civil aircraft featuring our content

We deliver essential products for our customers

>80%

Reduction in lost time accidents in 2024 vs 2023

We improve health and safety every year

Only

Partner on RISE and next-generation GTF development programmes

We design a sustainable future of flight

16.3%

Adjusted operating margin in 2024

We deliver strong financial performance

15%

Reduction in cost of poor quality in 2024 vs 2023

We improve our environmental footprint

Our business model

2029 targets

c.£5bn

Group revenue

£1.2bn+

Adjusted operating profit

24%+

Margin

£600m

Free cash flow (after tax and interest)

>20%

Earnings per share annual growth¹

2x

Leverage to remain below
2x adjusted EBITDA

Delivering value for all our stakeholders

£300m

Gross capex committed to additive fabrication expansion

90%

Today's major civil aircraft featuring our content

>80%

Reduction in lost time accidents in 2024 vs 2023

Only

Partner on RISE and next-generation GTF development programmes

16.3%

Adjusted operating margin in 2024

15%

Reduction in cost of poor quality in 2024 vs 2023

2029 targets

c.£5bn

Group revenue

£1.2bn+

Adjusted operating profit

24%+

Margin

£600m

Free cash flow (after tax and interest)

>20%

Earnings per share annual growth1

2x

Leverage to remain below2x adjusted EBITDA

Delivering value for all our stakeholders

£300m

Gross capex committed to additive fabrication expansion

90%

Today's major civil aircraft featuring our content

>80%

Reduction in lost time accidents in 2024 vs 2023

Only

Partner on RISE and next-generation GTF development programmes

16.3%

Adjusted operating margin in 2024

15%

Reduction in cost of poor quality in 2024 vs 2023

Earnings per share annual growth¹

Leverage to remain below
2x adjusted EBITDA