REG - Severn Trent PLC - Severn Trent Plc PR24 Capital Markets Day

Severn TrentAnnouncement

12/10/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231012:nRSL8527Pa&default-theme=true

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 £12.9 billion of investment which will deliver benefits for
our customers, the environment, the region and our shareholders, underpinned
by a £550 million affordability package and strong shareholder support
following a successful £1 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 £400 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 £750
               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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  CIRGZMMGGMGGFZZ