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Rolls-Royce Marine sees profit wiped out in 2015

Sliding demand from the offshore oil and gas markets is eating up the profit at Rolls-Royce's marine division. No prospects of improvements in 2016, notes the supplier in its annual report.

Photo: Rolls Royce PR

Rolls-Royce Marine took a 94 percent hit on its profit before financial items in the annual report for 2015, and the group's marine activities thus delivered a profit of just GBP 15 million for the full year 2015. This development is attributed to shrinking volumes, declining revenue and costs related to restructuring the group's maritime services and products, according to Rolls-Royce's annual report.

In addition to a steep drop in profits, 2015 also brought a 16 percent slide in Marine revenue, down to GBP 1.324 billion for the year.

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