Business
Annual Results for the year ended 31 March 2023
Annual Results for the year ended 31 March 2023.
About this update from Severn Trent Plc
[{"type":"text","content":"\n\nPreliminary Announcement of Annual Results \n24 May 2023 \nResults for the year to 31 March 2023 \n \nEnvironmental leadership, strong performance, investing for future growth\n \nSetting the benchmark through environmental and social leadership\n \n\n\n\n\n· \n\n\nHighly confident in achieving 4* EPA1 status for a fourth consecutive year, performance on all six environmental metrics expected to be on or better than target\n\n\n\n\n· \n\n\nImproved our performance on river quality by a third over the last year; our share of RNAGS2 reduced from 24% to 16%; average annual storm overflow performance reduced from 25 to 18 activations, ahead of regulatory target\n\n\n\n\n· \n\n\nWork underway on the world's first Net Zero waste water treatment hub, to be delivered in 2024, providing the blueprint for reducing process emissions; supported by Ofwat's Innovation Fund\n\n\n\n\n· \n\n\nFinancially supporting 237,000 customers in need with up to 90% off their bill, on track to help 315,000 customers by 2025\n\n\n\n\n· \n\n\nProgressing well with our ten-year Societal Strategy to help support 100,000 people out of poverty by 2032\n\n\n\n\n· \n\n\nDoubling our biodiversity commitment to 10,000 hectares by 2025, two years earlier than planned\n\n\n\n\n \n12.2% RoRE3 for FY23 driven by strong environmental, operational and financial performance\n \n\n\n\n\n· \n\n\nContinuing to deliver strong operational and financial outperformance, despite extreme weather and tough macroeconomic conditions; cumulative AMP7 RoRE of 8.9% to date\n\n\n\n\n· \n\n\nAround 80% of ODI4 measures met or exceeded including leakage, pollutions and water quality complaints, resulting in a net reward of £53 million; over £200 million delivered AMP75 to date, already surpassing our total in AMP65\n\n\n\n\n· \n\n\nRecord energy generation of 5956 GWh, equivalent to 53% of Group consumption, with 45 GWh of additional generation expected from planned acquisition of Andigestion Ltd7\n\n\n\n\n· \n\n\nGroup PBIT8 of £509 million (2021/22: £506 mill...