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RNS Number : 2826F

Severn Trent PLC

15 July 2021

Severn Trent Plc Trading Update

Severn Trent Plc today announces the following trading update for the period to 15 July 2021.

Good underlying operational performance

We have made a strong start to the year operationally, focused on delivering a great service for our customers, and are confident of achieving at least GBP40 million positive net outperformance on customer outcome delivery incentives.

On our capital schemes, we are on track to invest GBP550 - GBP650 million this year, including our Green Recovery projects.

Financial performance on track

Overall, we have made a good start to the financial year and confirm there has been no material change to our current year outlook since our full-year 2020/21 results presentation on 19 May 2021. The Board continues to expect that the Group will deliver its full-year trading performance in line with the guidance provided.

Supporting the long-term

We remain on track to deliver our Net Zero ambitions by 2030 through our Triple Carbon Pledge. We outlined our progress in our standalone Sustainability Report, in which we described the developments we have made in the last year as we strive to be an organisation that makes a positive impact on the environment and within the communities in which we operate.

We plan to host our Capital Markets Day on 24 September 2021 to outline our plans and strategy for the future.

Our half-year results announcement will be released on 23 November 2021.

Enquiries

 
 
   Investors & Analysts 
 Stuart Howell                 Severn Trent Plc          +44 (0) 7703 718361 
 Head of Investor Relations 
 
 Selina Soma                   Severn Trent Plc          +44 (0) 7976 938604 
 Investor Relations Manager 
 
 Media 
 Jonathan Sibun                Tulchan Communications    +44 (0) 207 353 4200 
 Press Office                  Severn Trent Plc          +44 (0) 247 771 5640 
 

Cautionary statement regarding forward-looking statements

This document contains statements that are, or may be deemed to be, 'forward-looking statements' with respect to Severn Trent's financial condition, results of operations and business and certain of Severn Trent's plans and objectives with respect to these items.

Forward-looking statements are sometimes, but not always, identified by their use of a date in the future or such words as 'anticipates', 'aims', 'due', 'could', 'may', 'will', 'would', 'should', 'expects', 'believes', 'intends', 'plans', 'projects', 'potential', 'reasonably possible', 'targets', 'goal', 'estimates' or words with a similar meaning, and, in each case, their negative or other variations or comparable terminology. Any forward-looking statements in this document are based on Severn Trent's current expectations and, by their very nature, forward-looking statements are inherently unpredictable, speculative and involve risk and uncertainty because they relate to events and depend on circumstances that may or may not occur in the future.

Forward-looking statements are not guarantees of future performance and no assurances can be given that the forward-looking statements in this document will be realised. There are a number of factors, many of which are beyond Severn Trent's control that could cause actual results, performance and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to: the Principal Risks disclosed in our latest Annual Report and Accounts (which have not been updated since the date of its publication); changes in the economies and markets in which the Group operates; changes in the regulatory and competition frameworks in which the Group operates; the impact of legal or other proceedings against or which affect the Group; and changes in interest and exchange rates.

All written or verbal forward-looking statements, made in this document or made subsequently, which are attributable to Severn Trent or any other member of the Group or persons acting on their behalf are expressly qualified in their entirety by the factors referred to above. This document speaks as at the date of publication. Save as required by applicable laws and regulations, Severn Trent does not intend to update any forward-looking statements and does not undertake any obligation to do so. Past performance of securities of Severn Trent Plc cannot be relied upon as a guide to the future performance of securities of Severn Trent Plc.

Nothing in this document should be regarded as a profits forecast.

This document is not an offer to sell, exchange or transfer any securities of Severn Trent Plc or any of its subsidiaries and is not soliciting an offer to purchase, exchange or transfer such securities in any jurisdiction. Securities may not be offered, sold or transferred in the United States absent registration or an applicable exemption from the registration requirements of the US Securities Act of 1933 (as amended).

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