Pennon Group Plc (PNN) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Now, I'd like to hand over to Susan Davey, CEO of Pennon Group, to begin. Please go ahead. Good morning, everyone. I'm Susan Davey, CEO of Pennon Group, and I'm joined by Laura Flowers, who is our CFO. We're here today in our incident room in Devon. Laura and I are pleased to take you through the results and highlights of Pennon's 2024-25 half year, and we look forward to answering any questions at the Q&A session at 8.45 this morning. It's been a very busy half year operationally and as we right-side through our new business found K8. I can't reflect on this half year without talking about the incident in Brixham. For eight weeks in the summer, we worked tirelessly to return safe cane drinking water to the people and businesses in and around Brixham and Devon. Over 800 brilliant colleagues and supply chain partners supported customers as we flushed 30 kilometres of the network 27 times, and installed UV infiltration equipment to ensure the supply could be restored as quickly and as safely as possible. I'd really like to thank customers for their incredible patience, but also their kindness to colleagues who were working on the ground at all hours. Alongside the Brixham event, colleagues have been focused on tackling pollutions and the issue of storm overflows. With rainfall over 15% higher than the high base of 2023 and continuing severe weather fronts, weather is never an excuse, but it is a context. Beneath the headline numbers, we are making progress. I want to start by saying the fundamentals to the business are robust. We were pleased to receive clearance from the CMA in June for our acquisition of Sutton and East Surrey. Integration is underway alongside our group-wide right-sizing and reshaping as we head into the new regulatory delivery period. We're reshapi...