Severn Trent “confident of achieving at least £40 million positive net outperformance on customer outcome delivery incentives”

Water

Severn Trent Plc (LON:SVT) has announced 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 £40 million positive net outperformance on customer outcome delivery incentives.

On our capital schemes, we are on track to invest £550 – £650 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.

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

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