Pennon Group Plc (PNN) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

And thank you so much for coming here this morning. I'm Susan, CEO of Pen and Group, and I'm joined by Laura, our CFO today. And I am delighted to be in person and great to see so many of you who've come along to. hear the presentation. Now, I'm often asked why do I work in the water sector? And I think the answer is the same that I gave 28 years ago when I first started. Quite simply, I'm in water because it's too important not to be. What we do really matters, really matters to people and to communities every single day. And this morning, the review undertaken by Sir John Cunliffe has reported on its interim findings, and I'm sure... some of you might ask some questions about that later. Let's be clear, I'm excited about what comes next for the sector, what comes next for Pennon, and what comes next for our customers and our shareholders. So we're going to have a look at what's ahead for Pennon, but I wanted to take a few moments to reflect on the end of the K7 regulatory delivery period. So we've just ended with 24-25 year and that also marks the end of the five-year period that we've had to 25. And for some of you in the room today, because I recognise many of you, we last met in the West Country in March. where we took you on a day trip to the seaside, for those of you that came, and we were showcasing some of the investments that we had made, some of the work we'd done on our natural habitats as well, the innovation that we've been deploying, the training centres we've been creating for our thousands of brilliant NGOs. employees and colleagues across the business. And it was all about being focused on what it's like to walk in the shoes of our customers. The stars of the day, if you recall, were Denzil and Kilo. They were two of our leakage dogs who are trained...