Финансовый анализ публичной компании Rolls Royce. Дудкина Вероника. Вестминстерский Университет (Лондон) | Financial analysis of the public company Rolls Royce. Dudkina Veronika. Westminster University (London)
Финансовый анализ публичной компании Rolls Royce. Дудкина Вероника. Вестминстерский Университет (Лондон) | Financial analysis of the public company Rolls Royce. Dudkina Veronika. Westminster University (London)
Проект был подготовлен в рамках курса финансового планирования в Вестминстерском Университете (Лондон, Великобритания) Дудкиной Вероникой. Проект признан наиболее полно раскрывшим существующую проблематику действующего бизнеса, и отмечен представителями компании Rolls Royce на программе EMBA по международному менеджменту.
Проект Маркетингового финансового анализа публичной компании Rolls Royce, а так же новая маркетинговая стратегия были отмечены профессорами Вестминстерского Университета в Лондоне и награждены дипломом.
Вероника В. Дудкина
Директор по Маркетингу для RETAIL, FMCG
EMBA по Международному бизнес
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The project was prepared as a part of the financial planning course at Westminster University (London, United Kingdom) by Dudkina Veronika. The project is recognized as the most fully exposed to the existing problems of the current business, and was noted by representatives of Rolls Royce on the EMBA program on international management.
The project of marketing financial analysis of public company Rolls Royce, as well as a new marketing strategy were awarded by professors of Westminster University in London and awarded a diploma.
Veronika V. Dudkina
Marketing / Development Director | Omni-Channel strategy for RETAIL, FMCG , BANKS
EMBA in International Business
Ähnlich wie Финансовый анализ публичной компании Rolls Royce. Дудкина Вероника. Вестминстерский Университет (Лондон) | Financial analysis of the public company Rolls Royce. Dudkina Veronika. Westminster University (London)
Ähnlich wie Финансовый анализ публичной компании Rolls Royce. Дудкина Вероника. Вестминстерский Университет (Лондон) | Financial analysis of the public company Rolls Royce. Dudkina Veronika. Westminster University (London) (20)
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Финансовый анализ публичной компании Rolls Royce. Дудкина Вероника. Вестминстерский Университет (Лондон) | Financial analysis of the public company Rolls Royce. Dudkina Veronika. Westminster University (London)
1. ROLLS ROYCE Holding
Marketing Financial Planning for Public Company
by Veronika V. Dudkina
SMBS 2016, Westminster University, London
2. The Company
• Rolls-Royce Holdings plc is a British public holding company
• designs, manufactures and distributes power systems for aviation
and other industries.
• world’s 2nd-largest manufacturer of aircraft engines
• other major businesses in the marine propulsion and energy
sectors.
1884 1914 1971
1904 1953 NOW
Rolls-Royce
Limited
had been
nationalised
Established by
Henry Royce
electrical and
merchandising
business
Charles
Rolls
sold
quality cars
Design
of first
aero-engine
Entering
civil
aviation market
designs, develops,
manufactures
and services
integrated power
systems for use
in the air, on land
and at sea.
Veronika V. Dudkina
Omni-Channel strategy for RETAIL, FMCG , BANKS
EMBA in International Business
London
Westminster University
SMBS 2016
02
3. Aerospace Marine & Industrial Power Systems
Civil Aerospace Defence Aerospace Marine Energy & Nuclear Power Systems
The Products
Revenue £ 6.655 m
(43%)
Revenue £ 2.591 m
(17%)
Revenue £ 2.037 m
(13%)
Revenue £ 1.538 m
(10%)
Revenue £ 2.831 m
(18%)
72% service revenue=
LTDAs with “TotalCare”
33% service revenue=
LTDAs with “MissionCare”
1% service revenue= LTDAs
mainly Naval
38% service revenue=
LTDAs
6% service revenue= LTDAs
• NEW Product Development ~ 5 yrs
• Engine Life Time ~15-20 yrs
• Airplane Lifetime ~30-40 yrs
Veronika V. Dudkina
Omni-Channel strategy for RETAIL, FMCG , BANKS
EMBA in International Business
London
Westminster University
SMBS 2016
03
4. The Competitors
ENGINE MARKET SHARE BY MARKET GROUP
Commercial widebody aircraft
Commercial narrowbody
aircraft
Commercial regional jet
ROLLS ROYCE FACTS
• new CEO since Q3 2015
• High Investment in R&D
• Reorganisation 4Cs started
Customer, Concentration, Cost and Cash
• 3000 employees to be layed off
Veronika V. Dudkina
Omni-Channel strategy for RETAIL, FMCG , BANKS
EMBA in International Business
London
Westminster University
SMBS 2016
04
5. SWOT-Analysis
STRENGTHS
1. Reorganisation
(Cost Cutting,
Customer Segments)
2. Major Player aero-
engine manufacturer
3. High investment and
capability in R&D (DLR)
OPPORTUNITIES
1. Growing Asian Market
Widebody Airplanes
2. Market Share
Narrow body airplane
3. Strategic Production
Partnerships
4. TO BE DEVELOPPED
new economic engine
WEAKNESSES
1. Restructurisation and
Layoffs
2. High fixed costs
3. Decrease in sales and
falling Share Price
THREATS
1. Upcoming Chinese engine
manufacturer
2. Strong Competition
GE leap engine
3. Growing Governmental
policies and regulatory
demands
Veronika V. Dudkina
Omni-Channel strategy for RETAIL, FMCG , BANKS
EMBA in International Business
London
Westminster University
SMBS 2016
05
6. PORTERS 5 Forces
Global industry is dominated
By three players:
General Electric, Pratt & Whitney
and Rolls-Royce.
(difficult to dominate the market
for single manufacturer)
• There are less future
possible buyers for new
aircraft
• Globalisation trend among
buyers
• Less influence or
power of supplier to.
• The smaller
companies , have now
decreased power.
• High end complicated
electronic component
suppliers are the most
powerful.
• Established Engine Producers
• High Investment Demands in
R&D
• High Testing and Certification
Demands for new Engines
• No other better known way to replace air
transportation .
• Video Conferencing or High Speed Trains may partly
replace some air travels business in near future.
CHINESE MANUFACTURER?
NEW efficient ENGINE?
Veronika V. Dudkina
Omni-Channel strategy for RETAIL, FMCG , BANKS
EMBA in International Business
London
Westminster University
SMBS 2016
06
7. PESTEL-Analysis
#11
• Political risk (war and terrorism)
• Subsidies by EU government
• Limits for emissions
• Supply/demand factors:
unpredictable demand ; over-
capacity supply market
• Fuel Price
• global recession generates
decreased demand
• Changes in global demand for
air travel and rise in demand for
airplanes
• Globalisation and cross-cultural
challenges
• Potential for technology-supported
added-value products
• Competitor investment in R & D and
new product development
• Potential for continuing innovation
• Technological obsolescence due to
long delivery cycles
• Scarcity/costs of non-renewable
fuels, metals and other raw
materials of production
• Environmental standards and
legislation: eg pollution
control, emissions reductions,
noise abatement
• EU/US law and WTO rulings on
competition
• Contract law and dispute
jurisdiction in contracts
between EU and US firm
Veronika V. Dudkina
Omni-Channel strategy for RETAIL, FMCG , BANKS
EMBA in International Business
London
Westminster University
SMBS 2016
07
8. KEY FIGURES
KEY FIGURES FOR SV ANALYSIS
Veronika V. Dudkina
Omni-Channel strategy for RETAIL, FMCG , BANKS
EMBA in International Business
London
Westminster University
SMBS 2016
08
9. SHARE PRICES
Veronika V. Dudkina
Omni-Channel strategy for RETAIL, FMCG , BANKS
EMBA in International Business
London
Westminster University
SMBS 2016
09
10. PESSIMISTIC scenario
SCENARIO JUSTIFICATION
• new CEO since 2nd half of 2014
• Delays with Lay offs of ~ 3000 employee (in Bristol, Derby, Norway)
• Asian market declining (less orders)
• Environmental obligations
• Continued reduced governmental expenses in services
• High invesments in R&D with slow development
Veronika V. Dudkina
Omni-Channel strategy for RETAIL, FMCG , BANKS
EMBA in International Business
London
Westminster University
SMBS 2016
10
11. PESSIMISTIC scenario
Veronika V. Dudkina
Omni-Channel strategy for RETAIL, FMCG , BANKS
EMBA in International Business
London
Westminster University
SMBS 2016
11
12. OPTIMISTIC scenario
SCENARIO JUSTIFICATION
• Rising Amount of Orders
• Positive Effect from Sale of Assets and reduction of fixed
costs
• Quick lay off of employees and positive effects from
internal restructurisation
• Growing Demand from Asian market
• higher investment of government in defense aeroplanes
Veronika V. Dudkina
Omni-Channel strategy for RETAIL, FMCG , BANKS
EMBA in International Business
London
Westminster University
SMBS 2016
12
13. OPTIMISTIC scenario
Veronika V. Dudkina
Omni-Channel strategy for RETAIL, FMCG , BANKS
EMBA in International Business
London
Westminster University
SMBS 2016
13
14. SCENARIO JUSTIFICATION
MOST LIKELY scenario
• Forecast of Annual Report 2014 - Sales and OP going
down
• Internal Restructurisation showing results
• Progress in R&D
• Orders books recovering
Veronika V. Dudkina
Omni-Channel strategy for RETAIL, FMCG , BANKS
EMBA in International Business
London
Westminster University
SMBS 2016
14
15. MOST LIKELY scenario
Veronika V. Dudkina
Omni-Channel strategy for RETAIL, FMCG , BANKS
EMBA in International Business
London
Westminster University
SMBS 2016
15
16. RECOMMENDATION
VALUE DRIVERS
• SALES GROWTH
• Asian Civil Airplanes (widebody)
• Indian Defense Airplanes (widebody)
• Gain Market Share small civil planes (narrow body)
• Build new economic engine type
• OPERATING PROFIT
• Reorganisation + Layoffs
• Lean Management – Cost Reduction
• FIXED ASSET COSTS
• Lean Management – Centralise World Wide Locations
• CHALLENGES TODAY
• Provide value-added products and services
• Drive cost competitiveness
• Strengthen route to market by Strategic Partnerships and JV
• Question Mark: Competition from Asian Manufacturer?
Veronika V. Dudkina
Omni-Channel strategy for RETAIL, FMCG , BANKS
EMBA in International Business
London
Westminster University
SMBS 2016
16
17. ROLLS ROYCE Holding
Thank you for your attention!
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SMBS 2016, Westminster University, London
Veronika V. Dudkina
Omni-Channel strategy for RETAIL, FMCG , BANKS
EMBA in International Business
London
Westminster University
SMBS 2016