SES Water publishes Annual Report for 201920

15/07/2020

Today SES Water has published its annual review of operating and financial performance results.  

Performance commitment highlights include:

• Achieving their leakage reduction target for the 21^st successive year meaning less water is being taken from the environment
• Very low numbers of burst mains and supply interruptions, thanks to a targeted approach to asset investment meaning customers benefit from a more robust service
• An unwavering focus on vulnerable customers means the Company is now helping more people in more ways than ever before, including providing the highest volume of payment holiday support per 10,000 customers in response to COVID-19 across the industry
• Having the fewest concerns from customers about the smell, taste or appearance of their water since the challenging target was introduced in 2015
• Reducing demand by fitting more than 8,000 new water meters during the year, including a trial of smart meters
• 89% of customers are satisfied with their water service and the vast majority believe their bill provides good value for money

As well as delivering strong operational performance, this year the Company has continued to go beyond providing its essential public service and played an active part in the local communities it serves. This has included:

• Being the first company to make a donation towards the Surrey Coronavirus Response Fund, as well as providing voluntary time to support those in need, including building hundreds of beds at a new community hospital
• Launching a charitable giving fund through the Community Foundation for Surrey which has so far benefitted more than 5000 people
• Signing the Social Mobility Pledge and running the area’s first ever ‘Industrial Cadets’ work experience programme with the Engineering Development Trust
• Achieving Investors in People silver accreditation which reflects the many great things the Company does to lead, manage, develop and support employees
• Further expanding a trial of electric vehicles which will save 43 tonnes of CO₂ each year
• Speaking to over 12,000 people about their water, where it comes from and how to use it wisely through their long-running environmental education programme

Strong performance was achieved in an efficient and effective way with financial indicators remaining healthy in the year. Total revenue was £69.8 million with profit before tax increasing from the prior year by £1.3 million to £10.7 million, and capital investment in new and replacement plant and equipment totalling £35.6 million, up from £25.3 million the previous year.

Incoming Chief Executive Officer Ian Cain joined the Company in February 2020: “Looking back I am really pleased to report that we have continued to meet the expectations of our customers in the areas that matter most to them. This includes delivering their top priority which is a reliable supply of high-quality water but also going further to play a bigger role in tackling wider societal and environmental challenges such as water poverty and the effects of climate change. We couldn’t have achieved all that we have without our people and there are countless examples of them going above and beyond for our customers. It is thanks to their skills and commitment that we were in a position to put forward the most ambitious plan in our history for the next five years and I look forward to seeing us deliver on our promises as one of the leading companies in the industry.”

Chairman Jeremy Pelczer said: “I am very pleased that we’ve achieved amongst the very best industry performance in areas we know are critical to our customers. We’ve also continued to make good progress in reducing our emissions and contributing to the industry’s commitment to achieve net zero carbon emissions by 2030. However, we know that we have more to do in some areas, notably to improve customer and developer satisfaction through our C-MeX and D-MeX scores, and have robust plans in place to achieve that. As I look ahead to the coming year, and as our communities and the economy recover and rebuild, we will continue to provide all our customers with a high-quality and reliable service, while striving to meet our new performance targets.”

A customer-friendly online summary as well as the full Annual Report can be viewed on our website at: https://seswater.co.uk/about-us/publications/our-annual-performance-report