Rolls-Royce Power Systems sees double-digit growth in first half

Rolls-Royce’s Power Systems business unit, which includes mtu-branded high-speed engines and propulsions systems, saw a 24% increase in sales in the first half of 2023 to £1.8 billion (€2 billion*), with order cover for 2023 and 2024 reported at record levels. Operating profit was at £125 million (€143 million) with a 7.0% margin.

Rolls-Royce’s Power Systems business unit, with its mtu brand, increased its revenue by 24% in the first half of 2023. (Photo: Rolls-Royce Power systems)

The company noted that Services revenues were up 10%, a reflection of increased end market activity. OE revenue grew by a solid 33%, which Rolls-Royce attributed to strong order execution for stationary power generation equipment and continued strong sales of mobile power solutions in the marine and mining segments.

Order intake for the Power Systems business was £1.9 billion (€2,2 billion), 14% lower than the prior period, the company noted. Key awards in the period included:

  • delivery of further marine engines for yacht builder Ferretti,
  • follow-up orders for rail power packs from Hitachi
  • and a second contract to supply mtu generator packs for the US Navy frigate program.

Demand remained strong despite increased pricing, Rolls-Royce added.

Dr. Jörg Stratmann, CEO of Rolls-Royce Power Systems, attributed the significant sales growth in the often “not so strong first half of the year” to the success of the company’s efforts to leverage existing potential and improve the performance of its business.

The Power Systems business is anticipating a positive development for the full year 2023, with an improvement in the operating margin due to the impact of pricing actions, cost efficiencies and seasonally higher volumes.

*Figures in € are informative on the basis of fixed exchange rates.

Delivered directly to your inbox, New Power Progress newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.

Alister Williams VP Sales Tel: +1 843 637 4127 E-mail:
Julian Buckley
Julian Buckley Editor Tel: +44 771 009 6684 E-mail:
Latest News
First New Holland electric mini excavator on display
The E15X is one of the manufacturer’s new range of fifteen mini excavator models
First transatlantic flight using sustainable aviation fuel
Virgin Atlantic flight will be used to assess non-carbon emissions
Danfoss Drives creates new Marine business unit
The new division will deliver solutions specifically for marine customers