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  "authorName": "Melrose Industries PLC",
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  "presentationDate": "2023-03-01 00:00:00",
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  "pageNumber": 16,
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      "text": "Orders³ (cash inflow)\nForecast orders⁴ (cash inflow)\nInvestment (cash outflow)\nSignificant upturn in cash flow underway",
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      "text": "Aerospace is in an extraordinarily attractive position for investors\nIt is forecast to have strong and relatively predictable cash inflows which will grow materially\nThere is limited future work required by Melrose (Aerospace) after sale of the engine to achieve these cashflows, so margins become high and are coming into view\nRelatively small amount of advance payments are received to complicate long-term cashflow dynamics\nThe £18.5 billion¹ net cash inflow, as presented at the previous GKN Aerospace Capital Markets Event on 8 June 2022, is based on customer projections for engine sales with many already in flight\nThe upcoming Aerospace investor event on 17 May 2023 will show an updated RRSP cash profile and give more detail on the full profit and cash potential",
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      "text": "1. Using a foreign exchange rate of USD:GBP 1.3:1\n2. Pre-tax and excluding a nominal amount of maintenance capex\n3. Orders include aftermarket on delivered engines and both the original equipment sale and associated aftermarket of published engines orders\n4. Forecast orders represent the original equipment sale and associated aftermarket of expected future engine orders on current programmes",
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      "kind": "title",
      "text": "Melrose Aerospace: long-term cashflow dynamics",
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      "text": "GKN Aerospace: Engines' estimated RRSPs cash profile1,2 from 1980 to 2060",
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