The British aerospace and defense group Rolls-Royce stands by its forecast for the year 2024 after the company has had a strong start to the year.

Rolls-Royce still expects an operating profit in the range of 1.7 to 2.0 billion pounds ($2.16 to $2.54 billion) as well as a free cash flow from continuing operations between 1.7 and 1.9 billion pounds.

The company is on track to achieve a sustainable annual benefit of about 200 million pounds by the end of 2025, following organizational changes proposed last year.

"We have experienced a strong start to the year, despite continuing industry-wide challenges in supply chains," said CEO Tufan Erginbilgic.

In the civil aviation business segment, long-term service contracts for large engines returned to pre-pandemic levels from 2019 in the first four months up to the end of April. The expectations for the business unit this year, including the large engine flying hours at 100% to 110% of the 2019 level, remain unchanged.

In Rolls-Royce's Defense Business, Long-Term Growth is Supported by Several Recently Won Contracts and Encouraging Progress in the Company's Global Combat Aircraft Program.

This positive development highlights Rolls-Royce's robust fundamentals and successful adaptations to industry challenges.