Annual Report and Financial Statements

“What has been clear throughout is a real passion from our people to deliver across our businesses, together with the tenacity to overcome obstacles, deliver change and work together.”

Contents

South Staffordshire Water, which operates as Cambridge Water and South Staffs Water across two socially and geographically diverse regions, is a privately-owned regulated water only company. It provides high-quality drinking water to more than 1.7 million people and around 42,000 businesses in and around Cambridge, and in Staffordshire and parts of the West Midlands. It does not take away wastewater or treat sewage.

The SSI Water, Waste and Infrastructure division provides a range of engineering services to regulated utilities, environmental customers, the transportation sector, local authorities and industrial customers with critical infrastructure. Five businesses operate in eight customer focused business units that are renowned specialists in their respective sectors.

The SSI compliance division comprises two market-leading businesses: Omega Red Group (Omega) and IWS Water Hygiene (IWS WH). Driven by the ever increasing regulatory and insurance demands of customers for compliance, both businesses have continued to build their market reputation, resolute in their safety-first commitment, delivering high quality solutions across lightning protection, power earthing, height safety, air hygiene, water hygiene and water treatment.

Echo has been established for over 20 years delivering customer service and software solutions to water utilities in the UK, Australia and USA that support and enhance their customer operations. Broadly, this incorporates outsourced customer service solutions including customer contact handling, billing, meter reading and debt collection, as well as developing, implementing, and supporting billing and CRM software.

Office Watercoolers Limited (OWC) provides water coolers, spring water and other ancillary items such as boilers, SIP (sanitise in place), sanitisation, service and repair to businesses across the UK. The company is customer focused, which shows in its exceptional service levels. The company continues to take advantage of new technologies to reduce the impact on the environment for both the business and its customers including reducing energy used and carbon emissions.

In January 2023, South Staffordshire Plc acquired a majority 92.5% shareholding in Infrastructure Gateway Ltd (IGL), with an option to acquire the remaining 7.5% in 2026.

The Group is passionate about making a positive contribution to the environment, our clients, our people and the communities in which we live and work. Given the nature of the Group and its businesses, understanding and improving our ESG performance is a vital part of our business strategy and is reported annually.

The Group monitors its financial performance through targeted Key Performance Indicators (KPIs) such as Turnover, Profit, EBITDA, Net Debt and dividend distribution, together with non- financial measures such as Health and Safety, Employee Engagement and Business Development.

Key highlights of the year

OnSite, Integrated Water Service (IWS) M&E and Cambridge Water jointly recognised in the Utility Week Awards, winning Best Environmental, Social and Governance (ESG) Initiative of the Year for an innovative ground source heating solution.

Cambridge Water’s ‘Can for the Cam’ campaign resulted in customers using 940,000 litres of water less per day, from July to September 2023 – this was ‘Highly Commended’ in the Behaviour Change Campaign category at the UK Green Business Awards.

SSI Compliance Division opened a new office in Bristol, bringing together colleagues from Omega Red and IWS Water Hygiene for the first time, to offer clients an integrated and comprehensive service.

The first USA license partnership for Hydrosave’s valve release technology Hydro-V® was formed with M.E.Simpson.

IWS M&E strengthened the business through new accreditations and memberships including the Pump Centre, the Electrical Contractors’ Association (ECA) and the British Constructional Steelwork Association.

Northern Ireland Water (NIW) becomes the third UK water company to choose Aptumo, with a large water and sewerage company becoming the fourth.

South Staff Water’s Wednesbury community hub celebrated its fifth anniversary, helping thousands of visitors since opening in 2018.

IWS Water Hygiene was appointed to the Asset Safety and Compliance Framework in association with the Welsh Procurement Alliance, as well as the Compliance Consultancy Services framework in association with the National Housing Maintenance Forum (NHMF).