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RNS Number : 8527P
Severn Trent PLC
12 October 2023
Severn Trent Plc PR24 Capital Markets Day
Today Severn Trent Plc is hosting a Capital Markets Event to
bring to life its PR24 Business Plan for the regulatory period 1
April 2025 to 31 March 2030 ("AMP8").
Our plan includes GBP12.9 billion of investment which will
deliver benefits for our customers, the environment, the region and
our shareholders, underpinned by a GBP550 million affordability
package and strong shareholder support following a successful GBP1
billion equity raise.
Throughout the day we will share details of our largest ever
investment programme, why we have confidence in our ability to
deliver it, and the work we're doing to consolidate our position as
the sector leader. This includes:
-- Over GBP400 million of accelerated investment, as we further
step up our capital run-rate and ready our business for
a fast start to AMP8;
-- Reimagining capital delivery, by partnering with manufacturing
specialists, to create innovative standardised components
which will deliver up to GBP750 million of assets up to
30% faster, driving efficiency and realising benefits sooner;
-- Evolution of our in-house design function, with investment
in people, systems and data supporting digitalisation strategy,
including use of AI and digital twins;
-- Implementing a new Customer Relationship Management system,
Kraken, to unlock the full benefits of our extensive smart
metering programme and deliver a step change in customer
service;
-- New ODI Centre of Excellence, as we aim to push the frontier
on measures that matter most to customers and continue our
strong track record of outperformance;
-- Zero Spills Hub which supports our commitment to a step-change
in reducing spills, and trialling global technology to work
towards no spills from storm overflows; and
-- Our insourcing and talent strategy, ensuring we have the
right skills in house for long term success.
Critical to successful delivery of our plan is our
performance-driven culture, and our Capital Markets Day follows our
three day leadership event, which has seen us launch our plan to
our 1,000 people leaders. Starting tomorrow, we will embark on a
CEO-led roadshow to directly engage with our 8,000 people, focused
on how we maximise the next 18 months to prepare ourselves fully
for a successful AMP8.
Virtual options
For those unable to join us in person today, a video of the
event will be published on our website at www.severntrent.com as
soon as practicable after the event.
Enquiries
Rachel Martin Severn Trent Plc +44 (0) 7824 624 011
Head of Investor Relations
Andy Farrell Severn Trent Plc +44 (0) 7989 390 825
Investor Relations
Manager
Media
Jonathan Sibun Teneo +44 (0) 207 353 4200
Press Office Severn Trent Plc +44 (0) 247 771 5640
Important notices
This announcement does not constitute or form part of, and
should not be construed as, any offer, invitation or recommendation
to purchase, sell or subscribe for any 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) (the "Securities Act"). The securities of the Company
have not been and will not be registered under the Securities Act.
This announcement does not purport to contain all of the
information that may be required to evaluate any investment in
Severn Trent Plc or any of its securities and should not be relied
upon to form the basis of, or be relied on in connection with, any
contract or commitment or investment decision whatsoever.
The information and opinions contained in this announcement are
provided as at the date of this announcement, have not been
independently verified and are subject to change without
notice.
This announcement 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 announcement 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 announcement 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 forward-looking statements made in this announcement 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. The final PR24 Business
Plan is subject to approval by Ofwat and there can be no assurance
that the PR24 Business Plan will be approved, in whole or in part,
and, as a result, no assurances can be given that the
forward-looking statements in this announcement will be realised.
This announcement 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
announcement should be regarded as a profit forecast.
Certain information contained herein is based on management
estimates and Severn Trent's own internal research. Management
estimates have been made in good faith and represent the current
beliefs of applicable members of Severn Trent's management. While
those management members believe that such estimates and research
are reasonable and reliable, they, and their underlying methodology
and assumptions, have not been verified by any independent source
for accuracy or completeness and are subject to change without
notice, and, by their nature, estimates may not be correct or
complete. Accordingly, no representation or warranty (express or
implied) is given to any recipient of this announcement that such
estimates are correct or complete.
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END
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