Rolls-Royce completes sale of L’Orange to Woodward Inc

Jun 04, 2018

Friedrichshafen, Germany – Rolls-Royce confirms that completion of the sale of its fuel injector business, L’Orange, a wholly owned subsidiary of Rolls-Royce Power Systems, to Colorado-based Woodward Inc. took place on 1 June.  The completion of the transaction, which was announced on 9 April, followed recent clearance from the German antitrust authorities.  

Net proceeds totalled €673m after transaction costs and other adjustments and included a cash contribution reflecting 2018 trading prior to the date of completion. In 2017, L’Orange reported pro forma sales of €244m, pro forma underlying EBITDA of €74m, pro forma underlying operating profit of €64m and pro forma post-tax free cash flow of €51m. The results of L’Orange up to the date of completion will be classified as non-core in our 2018 results and the 2017 comparative will be restated to reflect this classification.  

L’Orange, based in Stuttgart, Germany, will remain an important partner and supplier to Rolls-Royce Power Systems through a long-term supply agreement, with an initial term of 15 years.

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Wolfgang Boller
Spokesman Regional and Business Media
+49 7541 90-2159

wolfgang.boller@rrpowersystems.com

Richard Wray
Director of External Communications, Rolls-Royce plc
+44 (0)20 7227 9163

richard.wray@rolls-royce.com

 

The content of the press releases reflects the status as of the respective date of publication. They are not updated. Further developments are therefore not taken into account.

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