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  "documentTitle": "Melrose | Results Presentation Deck | 29 slides",
  "authorId": "melrose",
  "authorName": "Melrose Industries PLC",
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  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-09-01 00:00:00",
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  "pageNumber": 20,
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      "kind": "callout",
      "text": "Net present values of future expected cash flow⁵ £5.5bn",
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      "text": "GKN Engines RRSP net cash inflow¹; £m; Actual; OE delivery forecast²; AM current fleet forecast³; AM delivery forecast⁴; Significant upturn in cash flow underway",
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      "text": "19 RRSP programmes across OEMs\n17 programmes already cash positive annually\n~55%⁶ of Engines sales from RRSPs, ~20%⁶ of GKN Aerospace\nHigh share of narrowbody engines at the optimal place in their lifecycle\n£20 billion total expected cash flows from 2023, with net present value of £5.5 billion⁵\nWell placed for new programmes (CFMI RISE and P&W GTF Next Gen); excluded from cash flow outlook",
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      "text": "1. Pre-tax\n2. Original equipment (OE) delivery forecast represents the OE sale of expected future engine deliveries on current programmes\n3. Aftermarket (AM) current fleet forecast includes AM on delivered engines\n4. Aftermarket (AM) delivery forecast represents associated AM of expected future engine deliveries on current programmes\n5. Using a foreign exchange rate of USD:GBP of 1.25:1 and calculated using a discount rate of 7.5% which is between a debt related discount rate and a GKN Aerospace pre-tax weighted average cost of capital\n6. Based on 2023 expected sales",
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      "text": "Engines: outstanding future cash flows",
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