Severn Trent Plc Trading Update
Severn Trent Plc today announces a trading update for the period to 2 February 2022.
Continued operational excellence
Our strong operational performance is evident across all areas of our business, with 90% of Severn Trent Water's Customer ODI measures remaining on or ahead of target, including 100% on all Environmental measures. Our guidance to deliver 'at least £75 million 1 ' in Customer ODI rewards this financial year remains unchanged.
In November, Ofwat issued both their Service Delivery Report 2 and Monitoring Financial Resilience Report 3 for 2020-21, identifying Severn Trent Water among the top three in both reports. We are proud to be the only company in the sector to be recognised as a leader in both service delivery and financial resilience, and also to be named specifically for our performance on the avoidance of pollution incidents. This recognition reflects our continued focus on delivering the right outcomes for a broad range of stakeholders.
Financial outlook
There have been no material changes to current year business performance or outlook since the interim results announcement on 23 November 2021.
Focused on the environment
We recognise the importance of accelerating the transformation of rivers and welcome the recent report by the Environmental Audit Committee, with its emphasis on the importance of investment and tackling the root causes of pollution. The rivers in our region are now in better condition than at any time since the Industrial Revolution, but there is further to go. We remain committed to the improvement of river quality through key programmes such as the Water Framework Directive ('WFD'), and we are on track to invest over £500 million in our Water Industry National Environment Programme ('WINEP') schemes in the current AMP4.
We are proud to have been awarded the industry leading 4* EPA status from the Environment Agency for the last two years and are working tirelessly to achieve the same rating again this year, against increasingly stretching targets.
We are delighted to have been included on the Carbon Disclosure Project ('CDP') climate change “A list”, making us one of just 200 global companies out of almost 12,000 assessed to achieve this rating. This reflects the actions we have taken during the last twelve months on tackling climate change and our transparent reporting, including the publication of our Climate Change Adaption report and full TCFD disclosure in September 2021.
This focus on delivering for all stakeholders and the environment is reflected in our ratings across a range of ESG indices including the CDP, MSCI, Sustainalytics, and Tortoise Responsibility100 Index.5
Financial calendar
Full-year results – Severn Trent's annual results presentation will take place on 25 May 2022.