Severn Trent Water PLC (SVT)

[Stan]

The soon to be privatised Severn Trent reported a 4.2% rise in group turnover in its annual results on Tuesday, to £1.767bn, with group underlying profit before interest and tax 6.3% higher in the year ended 31 March to £574m, the company having absorbed all hot weather costs. The water utility firm said that during the year it managed to maintain the lowest bills in England for a decade, which was set to continue to at least 2025.

https://www.severntrent.com/investors/overview/

[PinkDalek]

The soon to be privatised Severn Trent ...

Are you able to explain this comment?

[Stan]

The soon to be privatised Severn Trent ...

Are you able to explain this comment?

Certainly it's quite straight forward, whoever the next Government are will Nationalise this utility.

[PinkDalek]

Okay you meant Nationalise as against Privatise but, this being the Company Share news board, I'd assumed your comment was based on something more concrete.

There are, of course, many Topics on TLF concerning the possible Nationalisation of various utilities. Here is one of them re National Grid:

viewtopic.php?p=221976#p221976

[Stan]

Okay you meant Nationalise as against Privatise but, this being the Company Share news board, I'd assumed your comment was based on something more concrete.

There are, of course, many Topics on TLF concerning the possible Nationalisation of various utilities. Here is one of them re National Grid:

viewtopic.php?p=221976#p221976

I see that you have spotted my deliberate mistake I will edit it correctly and thanks for your link.

[idpickering]

Interim results for the six months to 30 September 2019 https://www.investegate.co.uk/severn-tr ... 00071288U/

Also posted on HYP Practical for HYPer chat.

Ian.

[idpickering]

Severn Trent Plc today announces its Q3 trading update and a new dividend policy for the next five years:

· There have been no material changes to performance or outlook for the year 2019/20.

· Severn Trent Water accepts its Final Determination for the period 2020-2025.

· An AMP7 dividend policy with a growth rate of at least CPIH.

https://www.investegate.co.uk/severn-tr ... 00060681B/

[idpickering]

Severn Trent Plc Trading Update

https://www.investegate.co.uk/severn-tr ... 00061339I/

[idpickering]

Severn Trent Plc Trading Update

Severn Trent Plc today announces the following update for the period to 15 July 2020.

We have remained focused on taking care of one of life's essentials through the unprecedented COVID-19 pandemic. Our front-line key worker teams have kept customers' taps flowing as we have continued to support our local communities. Overall, the first quarter of the financial year has been in line with our expectations, and the Board continues to expect that the Group will deliver full-year trading performance consistent with prior guidance. Our AMP7 plans remain unchanged as we benefit from the clarity a finalised regulatory settlement brings.

We have not yet seen evidence that would change our initial estimates for the impact of COVID-19. We continue to guide a £50 - £85 million negative impact to 2020/21 revenue, and the Ofwat regulatory model allows this to be recovered in 2022/23. We have been encouraged by cash collections broadly in line with the same period a year ago, but continue to anticipate COVID-19 bad debt increases in line with guidance previously given as government support schemes come to an end. We will update the market at the interim results on 26 November 2020 as we see more data on the impact of COVID-19 on households and businesses.

https://www.investegate.co.uk/severn-tr ... 00070052T/

[idpickering]

Interim results for the six months to 30 September 2020

Here; https://www.investegate.co.uk/severn-tr ... 00055453G/

[idpickering]

Severn Trent Plc Climate Change Action Plan

The Severn Trent Plc Board today announces its intention to put its climate change action plan before shareholders and seek a non-binding advisory vote on the Company's approach at its AGM on 8 July 2021.

In recent years Severn Trent has increasingly considered how we can both mitigate our own impact on climate change and adapt to the challenges we face in bringing the sustainable provision of services to our customers. We believe it is important that shareholders have the opportunity to engage with the plans we have developed, which we will set out in full ahead of the AGM.

Severn Trent has made a number of key commitments which lie at the heart of our climate change plans:

· In May 2019, we made our Triple Carbon Pledge - committing to net zero carbon emissions, 100% renewable energy and an all-electric vehicle fleet, by 2030.

· In March 2020, to support our climate change plan and broader sustainability agenda, we announced £1.2 billion of investment by 2025 in environmental initiatives including planting 1.3 million trees and boosting the biodiversity of 5,000 hectares of land in our region.

· In January 2021, we submitted several project proposals to Ofwat to invest hundreds of millions of pounds as part of the Green Recovery initiative which, if approved, would enable us to deliver new low carbon water sources, create thousands of new jobs and enhance river quality and flood resilience in our region.

· This week, we submitted our proposed Scope 1, 2 and 3 emissions targets to the Science Based Targets Initiative, committing us to deliver significant reductions in our Greenhouse Gas ('GHG') emissions by 2030. We look forward to finalising these in the coming months.

https://www.investegate.co.uk/severn-tr ... 00152559T/

[idpickering]

Interim results for the six months to 30 September 2021

Operational performance ahead of plan, increase in Customer ODI guidance to at least £75 million1 for the full year:

· We continue to deliver strong operational performance, with over 90% of Severn Trent Water's Customer ODIs on track across Water, Waste, Customer, and the Environment

· Continued positive momentum in Water, including another successful period on water quality complaints (improving by 9%) and speed of response (improving by 11%)

· Sector-leading performance in Waste, resulting in less disruption for customers as flooding and blockages falling by over 30% since the start of the AMP

Leading the sector with our environmental ambitions

· Leading environmental performance, 4* EPA status confirmed by the Environment Agency in July this year

· Significant investment in river quality through our WINEP scheme, with over £500 million being invested this AMP

· Biodiversity commitments continue at pace with over 2,900 hectares of our 2027 target of 5,000 hectares delivered to date, with plans to restore an additional 2,000 acres of peatland in England and Wales by 2025

· Green Recovery progressing well with all projects mobilised: projects will help create c.2,500 jobs and include bathing quality rivers, new net zero water resources, and nature-based flood solutions



Strong financial performance supporting large-scale investment programme

· Group turnover of £958 million2 in line with expectations, up £71 million (8.0%), as a result of a strong recovery in non-household consumption following the lifting of lockdown restrictions

· Group PBIT of £256 million, up £31 million (13.8%)

· Effective interest cost3 of 4.2% (2020/21: 3.3%) reflecting higher inflation, effective cash cost of interest unchanged at 3.1%, with two thirds of debt fixed at low-cost rates

· Strong balance sheet, including reduction in pension deficit to £292 million, supporting over 10% RCV growth for AMP7

· Adjusted basic EPS4 of 54.4 pence, up 6% (basic loss per share of 73.0 pence, reflecting an exceptional deferred tax charge from the change in corporation tax rate)

· Interim dividend of 40.86 pence, in line with policy confirmed in May 2021

https://www.investegate.co.uk/severn-tr ... 00091916T/

[idpickering]

Severn Trent Plc today announces the following trading update for the period to 13 July 2022.

Strong start to the third year of AMP7

· Operational Performance - We have had a good start to the year operationally and continue to expect at least £50 million in customer ODI outperformance payments in FY23. As expected, we are seeing the increase in operating costs, particularly energy and chemicals, outlined in our technical guidance.

· Environmental Performance - We are confident we will retain our 4-star Environmental Performance Assessment rating for 2021 and expect this to be confirmed by the Environment Agency soon. We also remain on track to meet or exceed target on 100% of our environment ODIs this year.

· Energy Self-generation - We are benefitting from our decade of investment in renewable energy generation and generated 145 GWh of energy in the first quarter of this financial year which equates to over 50% of our consumption. This generation is 4% higher than the same period in FY22.

· Sustainable Financing Framework - Our updated Sustainable Financing Framework will be released in July. This framework details our environmental, social, and governance performance and ambitions, enabling Severn Trent Plc and its subsidiaries to raise financing for sustainable investment and expenditure. The report will be published on our website at http://www.severntrent.com.

PR24 draft methodology update

Ofwat issued its PR24 draft methodology on Thursday 7th July. Severn Trent held a briefing via webcast on Tuesday 12th July. The webcast and presentation can be accessed at http://www.severntrent.com.

https://www.investegate.co.uk/severn-tr ... 00074123S/

Ian.

[idpickering]

Interim results for the six months to 30 September 2022.

Robust financial performance, supported by strong cost control

· Guiding to double-digit real Return on Regulated Equity ('RoRE') for FY23, with ODIs1 of at least £50 million, totex in line with allowance, and strong financing outperformance.

· First half Group PBIT2 of £261.7 million up 2.4% year-on-year, reflecting increase in Group turnover (£1,061.8 million, up £103.6 million) and strong cost control.

· Increasing property PBIT guidance by a further £50 million, with planned PBIT from sales of surplus land now £150 million between 2017 and 2032.

· Adjusted basic EPS3 of 29.9 pence (2021/22: 54.0 pence) reflecting PBIT growth offset by impact of inflation on index-linked debt. Basic EPS of 31.4 pence (2021/22: loss of 73.0 pence).

· 2022 pension valuation agreed, with contributions unchanged. IAS19 deficit of £142.6 million.

· Interim dividend of 42.73 pence, in line with AMP74 policy, to be paid on 11 January 2023.

And later;

Dividends

The Board has declared an interim ordinary dividend of 42.73p per share (2021/22: 40.86p per share), which will be paid on 11 January 2023 to shareholders on the register at 2 December 2022.

https://www.investegate.co.uk/severn-tr ... 00071303H/

Ian.

[idpickering]

Publication of Supplementary Prospectus.

https://www.investegate.co.uk/severn-tr ... 11312519H/

Ian.

[idpickering]

CFO Retirement and Succession.

Severn Trent Plc (the 'Company') today announces that James Bowling has informed the Board of his decision to retire as Chief Financial Officer ('CFO') and Executive Director of the Company in July 2023. James, who joined Severn Trent in April 2015, is retiring from executive roles to pursue a non-executive director career.

The Board also announces that following a rigorous internal and external search and selection process, Helen Miles, currently Capital and Commercial Services Director at Severn Trent, has been selected to succeed James as CFO.

https://www.investegate.co.uk/severn-tr ... 00094908O/

Ian (No holding.)

[idpickering]

Severn Trent Plc Trading Update.

Severn Trent Plc today announces a trading update for the period to 8 February 2023.

Continuing to support customers and take care of the environment

For the second year running we are proud to have been recognised by Ofwat in its most recent assessment as the only Water and Sewerage Company in the leading category for both performance1 and financial resilience2.

We have continued to deliver a strong service for our customers despite the driest summer on record and a challenging winter. In addition, we are on track to financially support 315,000 of our most vulnerable customers by the end of the AMP.

Based on our initial view, we are confident we will achieve 4-star status in the Environment Agency's 2022 Environmental Performance Assessment ("EPA"). This would be the fourth consecutive year we achieve the highest rating.

Robust financial performance and enhanced energy resilience

There have been no material changes to current year business performance or outlook since the interim results announcement on 22 November 2022 and our guidance for FY22/23 remains unchanged.

We self-generate the equivalent of over 50% of our energy consumption, resulting in a natural economic hedge which significantly reduces the impact of higher power prices on our shareholder returns. Over the last six months we have locked in prices for our remaining exposure for FY23/24.

https://www.investegate.co.uk/severn-tr ... 00052275P/

Ian (No holding).

[idpickering]

Preliminary Announcement of Annual Results.

Setting the benchmark through environmental and social leadership

Highly confident in achieving 4* EPA1 status for a fourth consecutive year, performance on all six environmental metrics expected to be on or better than target

Improved our performance on river quality by a third over the last year; our share of RNAGS2 reduced from 24% to 16%; average annual storm overflow performance reduced from 25 to 18 activations, ahead of regulatory target

Work underway on the world's first Net Zero waste water treatment hub, to be delivered in 2024, providing the blueprint for reducing process emissions; supported by Ofwat's Innovation Fund

Financially supporting 237,000 customers in need with up to 90% off their bill, on track to help 315,000 customers by 2025

Progressing well with our ten-year Societal Strategy to help support 100,000 people out of poverty by 2032

Doubling our biodiversity commitment to 10,000 hectares by 2025, two years earlier than planned

And later;

Dividends

In line with our policy for AMP7 to increase the dividend by at least CPIH each year, the Board has proposed a final ordinary dividend of 64.09 pence per share for 2022/23 (2021/22: 61.28 pence per share). This gives a total ordinary dividend for the year of 106.82 pence (2021/22: 102.14 pence).

The final ordinary dividend is payable on 14 July 2023 to shareholders on the register at 2 June 2023.

https://www.investegate.co.uk/announcement/7540083

Ian (No holding).

[idpickering]

Annual Report and Notice of AGM.

Severn Trent Plc (the 'Company') announces that it has today published its 2023 Annual Report and Notice of Annual General Meeting ('AGM').

Copies of the following documents have been submitted to the Financial Conduct Authority's Electronic Submission Service and may shortly be viewed on the National Storage Mechanism at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism

· Annual Report and Accounts 2023;

· Notice of AGM; and

· Form of Proxy.

The 2023 Annual Report and Accounts and Notice of AGM are available on the Severn Trent Plc website at http://www.severntrent.com.

Our 2023 Annual General Meeting (the 'AGM') is to be held on Thursday 6 July 2023 at 10.00am at the Severn Trent Academy, Hawksley Park, St. Martins Road, Finham, Coventry, CV3 6PR.

https://www.investegate.co.uk/announcement/7560606

Ian (No holding).

[idpickering]

Severn Trent Plc confirms fourth year of 4-star EPA status.

Severn Trent Plc is pleased to confirm today that Severn Trent Water has been awarded 4-star status in the Environment Agency's 2022 Environmental Performance Assessment ('EPA'). This award makes Severn Trent the first company to have achieved 'industry-leading' status, as defined by the Environment Agency, for four consecutive years.

The EPA is a tool used by the Environment Agency to assess and compare the performance of water companies in England. In order to drive improvements in environmental standards, the assessment rightly tightens each year. Against these increasingly stretching targets, we are pleased to achieve 'green' on each of the seven metrics assessed, maintaining the highest-possible 4-star status for a fourth consecutive year.

https://www.investegate.co.uk/announcem ... us/7628891

Ian (No holding).