Pennon Group plc (PNN.L), in its trading update for the year ending 31 March 2025, said that financial performance for the full year 2024/25 remains in line with management expectations.
EBITDA is expected to remain broadly flat from the first-half to second-half of 2024/25, as lower customer demand and inflationary cost pressures are offset by the benefits of reshaping and restructuring program. Capital expenditure is anticipated to be comparable with the first-half of 2024/25 run rate, reflecting transitional expenditures and the finalization of K7.
The company said it remains committed to delivering on its four priorities. Over 1 billion pounds of investment programs for K8 (2025-2030) are currently underway. It maintained a strong water resources position at over 90%, with industry-leading water quality expected. Notably, it is one of only five companies in the industry to achieve a year-on-year reduction in storm overflow releases, with bathing beach releases during the bathing season down by 21% since 2020.
The company's aim is to retain EPA 2 status for 2024/25. Additionally, a new package of approximately 200 million pounds in customer affordability support has been unlocked, starting from 2025/26.
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