Announcement • May 01
United Utilities Group PLC has completed a Follow-on Equity Offering in the amount of £4.99872 million. United Utilities Group PLC has completed a Follow-on Equity Offering in the amount of £4.99872 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 381,000
Price\Range: £13.12
Transaction Features: Regulation S Announcement • Apr 30
United Utilities Group PLC has filed a Follow-on Equity Offering in the amount of £800.2 million. United Utilities Group PLC has filed a Follow-on Equity Offering in the amount of £800.2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 16,000,000,000
Price\Range: £0.05
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 4,000,000
Price\Range: £0.05
Transaction Features: Regulation S; Subsequent Direct Listing Announcement • Nov 16
United Utilities Group PLC Announces Committee Changes, with Effect from 14 November 2025 United Utilities Group PLC announces changes to board responsibilities with effect from 14 November 2025: Marina Wyatt succeeds Doug Webb as chair of the Audit Committee and chair of the Treasury Committee. Doug will remain as a member of both committees; and Liam Butterworth steps down from the Audit Committee. Announcement • Sep 01
United Utilities Group plc Appoints Marina Wyatt as an Independent Non-Executive Director and Member of Nomination, Audit and Treasury Committees, with Effect from 1 October 2025 United Utilities Group PLC announced that Marina Wyatt has been appointed as an independent non-executive director with effect from 1 October 2025. On joining the Board, Marina will be appointed as a member of the following Board Committees: Nomination, Audit and Treasury. Marina retired in 2024 from her most recent executive role as CFO of Associated British Ports, the UK's largest port group which manages 25% of the UK's sea-borne trade through its network of 21 ports, a position held since 2019. Other previous roles include CFO positions at UBM Plc, TomTom NV, Colt Group SA and Group Financial Director of Psion Plc. Marina is a Fellow of the Institute of Chartered Accountants, having qualified and spent her early career with Arthur Andersen. Marina is currently a non-executive director of Lloyd's Register Group Limited and Chair of the Audit and Risk Committee, a Trustee of Lloyd's Register Foundation and Chair of the Audit, Risk and Investment Committee and a Trustee of The Woodland Trust. She will be appointed as a non-executive director of United Utilities Water Limited with effect from 1 October 2025. Announcement • Apr 16
United Utilities Group PLC Announces Board Changes United Utilities Group PLC announced a number of changes to board responsibilities due to come into effect at the conclusion of the AGM in July 2025: Doug Webb will succeed Alison Goligher as senior independent director and as chair of the Compliance Committee. Chair of the ESG Committee Liam Butterworth will also be designated as the non-executive director for engagement with the workforce. Michael Lewis will become a member of the Compliance Committee stepping down from the ESG Committee. Alison Goligher will remain as a member of the Nomination, ESG, Remuneration and Compliance Committees. Announcement • Mar 11
United Utilities Group PLC to Report First Half, 2026 Results on Nov 14, 2025 United Utilities Group PLC announced that they will report first half, 2026 results on Nov 14, 2025 Announcement • Mar 03
United Utilities Group PLC Appoints Ian El-Mokadem as Independent Non-Executive Director with Effect from 1 June 2025 United Utilities Group PLC announced that Ian El-Mokadem has been appointed as an independent non-executive director with effect from 1 June 2025. On joining the Board, Ian will be appointed as a member of the following Board Committees: Nomination, Audit and Compliance. Ian recently retired as CEOof AIM listed RWS Holdings plc, a global market leader in the provision of technology enabled language, content and intellectual property services to clients across a range of industries including technology, life sciences, legal and financial services, a position held since 2021. Previous roles include CEO of V. Group and Exova Group plc and Group Managing Director, UK and Ireland of Compass Group plc. During his early career, Ian spent eight years with Centrica plc, including launching and then leading the telecoms business, prior to that in strategy consulting with Andersen Consulting. Ian is a non-executive director of Diploma plc and of Serco Group plc. Ian will be appointed as a non-executive director of United Utilities Water Limited with effect from 1 June 2025. Announcement • Jan 31
United Utilities Group PLC to Report Fiscal Year 2025 Final Results on May 15, 2025 United Utilities Group PLC announced that they will report fiscal year 2025 final results on May 15, 2025 Reported Earnings • Nov 16
First half 2025 earnings released: EPS: UK£0.15 (vs UK£0.17 in 1H 2024) First half 2025 results: EPS: UK£0.15 (down from UK£0.17 in 1H 2024). Revenue: UK£1.08b (up 11% from 1H 2024). Net income: UK£103.1m (down 12% from 1H 2024). Profit margin: 9.5% (down from 12% in 1H 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Global Water Utilities industry. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Nov 14
United Utilities Group PLC Announces Interim Dividend for the Six Months Ended 30 September 2024, Payable on 13 January 2025 The Board of United Utilities Group PLC has announced an interim dividend of 17.28 pence per ordinary share in respect of the six months ended 30 September 2024. This is an increase of 4.2% compared with the interim dividend last year, in line with the group's dividend policy of targeting a growth rate of CPIH inflation each year through to 2025. The interim dividend is expected to be paid on 13 January 2025 to shareholders on the register at the close of business on 29 November 2024. The ex-dividend date for the interim dividend is 28 November 2024. Buy Or Sell Opportunity • Aug 13
Now 21% overvalued Over the last 90 days, the stock has fallen 6.3% to €11.80. The fair value is estimated to be €9.78, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 30%. For the next 3 years, revenue is forecast to grow by 8.2% per annum. Earnings are also forecast to grow by 22% per annum over the same time period. Reported Earnings • Jun 19
Full year 2024 earnings released: EPS: UK£0.19 (vs UK£0.30 in FY 2023) Full year 2024 results: EPS: UK£0.19 (down from UK£0.30 in FY 2023). Revenue: UK£1.95b (up 8.1% from FY 2023). Net income: UK£126.9m (down 38% from FY 2023). Profit margin: 6.5% (down from 11% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Global Water Utilities industry. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Upcoming Dividend • Jun 13
Upcoming dividend of UK£0.33 per share Eligible shareholders must have bought the stock before 20 June 2024. Payment date: 01 August 2024. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 4.9%. Within top quartile of German dividend payers (4.5%). In line with average of industry peers (5.0%). Declared Dividend • May 19
First half dividend of UK£0.33 announced Shareholders will receive a dividend of UK£0.33. Ex-date: 20th June 2024 Payment date: 1st August 2024 Dividend yield will be 4.2%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not covered by cash flows (dividend approximately 7x free cash flows). The dividend has increased by an average of 3.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Buy Or Sell Opportunity • May 11
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 8.3% to €13.00. The fair value is estimated to be €10.64, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Announcement • Apr 16
United Utilities Group PLC Announces Board Changes United Utilities Group PLC announces that after seven years on the Board, Paulette Rowe, independent non-executive director and chair of the ESG Committee will not seek reappointment at the AGM on 19 July 2024 following her move overseas to take up an executive role, and that Clare Hayward has been appointed as an independent non-executive director with effect from 16 April 2024. On joining the Board, Clare will be appointed as a member of the Nomination Committee and the ESG Committee. Clare has played an active role in the economy across northern England, having chaired the NP11 group of Local Enterprise Partnerships (LEPs) since June 2023 and the Cheshire and Warrington LEP since 2020, having been a member of its board since 2015. Through the LEPs, the public and private sectors and Government have been working together to drive prosperity and improve lives. She has strong links with local and central Government. Her background is in strategy consulting and she was a co-founder of Cirrus, a leadership and talent consultancy, sold to Accenture in 2021. Clare will be appointed as a non-executive director of United Utilities Water Limited with effect from 16 April 2024. On stepping down on 19 July 2024, Paulette will be succeeded by Liam Butterworth as chair of the ESG Committee. Buy Or Sell Opportunity • Jan 23
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at €11.90. The fair value is estimated to be €9.86, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Upcoming Dividend • Dec 14
Upcoming dividend of UK£0.17 per share at 4.2% yield Eligible shareholders must have bought the stock before 21 December 2023. Payment date: 01 February 2024. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (5.2%). In line with average of industry peers (4.2%). Reported Earnings • Nov 18
First half 2024 earnings released: EPS: UK£0.17 (vs UK£0.52 in 1H 2023) First half 2024 results: EPS: UK£0.17 (down from UK£0.52 in 1H 2023). Revenue: UK£982.0m (up 6.8% from 1H 2023). Net income: UK£116.8m (down 67% from 1H 2023). Profit margin: 12% (down from 38% in 1H 2023). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Global Water Utilities industry. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Buying Opportunity • Nov 04
Now 21% undervalued Over the last 90 days, the stock is up 9.8%. The fair value is estimated to be €15.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 7.7% per annum. Earnings is also forecast to grow by 19% per annum over the same time period. Buying Opportunity • Sep 28
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 6.1%. The fair value is estimated to be €13.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 6.0% per annum. Earnings is also forecast to grow by 16% per annum over the same time period. Buying Opportunity • Aug 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be €13.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 5.7% per annum. Earnings is also forecast to grow by 16% per annum over the same time period. Announcement • Jun 15
United Utilities Group PLC to Report First Half, 2024 Results on Nov 16, 2023 United Utilities Group PLC announced that they will report first half, 2024 results on Nov 16, 2023 Upcoming Dividend • Jun 15
Upcoming dividend of UK£0.30 per share at 4.4% yield Eligible shareholders must have bought the stock before 22 June 2023. Payment date: 01 August 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.4%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (4.3%). Announcement • May 27
United Utilities Group PLC Proposes Final Dividend for the Year Ended 31 March 2023, Payable on 1 August 2023 The board of United Utilities Group PLC has proposed a final dividend of 30.34 pence per ordinary share in respect of the year ended 31 March 2023. Taken together with the interim dividend of 15.17 pence per ordinary share, paid in February, this results in a total dividend per ordinary share for 2022/23 of 45.51 pence. This is an increase of 4.6% compared with the dividend relating to 2022, in line with the group's dividend policy of targeting a growth rate of CPIH inflation each year through to 2025. The 4.6% increase is based on the CPIH element included within allowed regulated revenue for the 2022/23 financial year (that is the movement in CPIH between November 2020 and November 2021). The final dividend is expected to be paid on 1 August 2023 to shareholders on the register at the close of business on 23 June 2023. The ex-dividend date is 22 June 2023. The election date for the Dividend Reinvestment Plan is 11 July 2023. Reported Earnings • May 26
Full year 2023 earnings released: EPS: UK£0.30 (vs UK£0.083 loss in FY 2022) Full year 2023 results: EPS: UK£0.30 (up from UK£0.083 loss in FY 2022). Revenue: UK£1.82b (down 2.1% from FY 2022). Net income: UK£204.9m (up UK£261.7m from FY 2022). Profit margin: 11% (up from net loss in FY 2022). The move to profitability was driven by lower expenses. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Global Water Utilities industry. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • May 25
United Utilities Group PLC Provides Earnings Guidance for the Year 2023/2024 United Utilities Group PLC provided earnings guidance for the year 2023/2024. The company’s revenue is expected to increase by around £150 million in 2023/2024. Recent Insider Transactions • Mar 19
CEO & Executive Director recently sold €421k worth of stock On the 15th of March, Steven Mogford sold around 35k shares on-market at roughly €12.04 per share. This transaction amounted to 43% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €1.2m. Steven has been a net seller over the last 12 months, reducing personal holdings by €2.6m. Recent Insider Transactions • Mar 05
General Counsel & Company Secretary recently sold €227k worth of stock On the 28th of February, Simon Gardiner sold around 19k shares on-market at roughly €11.66 per share. This transaction amounted to 31% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €1.2m. Insiders have been net sellers, collectively disposing of €2.3m more than they bought in the last 12 months. Announcement • Jan 24
United Utilities Group PLC Appoints Michael Lewis as a Non-Executive Director, Effective May 1, 2023 United Utilities Group PLC announced the appointment of Michael Lewis as a non-executive director with effect from 1 May 2023. On appointment, Michael will become a member of the Nomination Committee and the Corporate Responsibility Committee. Michael has spent the majority of his career working in customer-facing regulated utilities. During his 28 years with E.ON, he has gained considerable regulatory experience. Since his appointment as CEO of E.ON UK in 2017, Michael has led on the transformation and response to the challenges in the UK energy market and on the impacts of climate change. His focus on sustainability throughout his career will help the United Utilities' Board further develop its ambitions to reduce the group's carbon footprint and achieve its net zero commitment by 2030. Having grown up in the North West, and attended the University of Manchester, Michael has a close affinity with the company’s region. Michael is also a non-executive director of Equinor ASA. Michael will also be appointed as a non-executive director of United Utilities Water Limited with effect from 1 May 2023. Upcoming Dividend • Dec 15
Upcoming dividend of UK£0.15 per share Eligible shareholders must have bought the stock before 22 December 2022. Payment date: 01 February 2023. Payout ratio is a comfortable 59% but the company is paying out more than the cash it is generating. Trailing yield: 4.3%. Lower than top quartile of German dividend payers (4.9%). In line with average of industry peers (4.1%). Reported Earnings • Nov 24
First half 2023 earnings released: EPS: UK£0.52 (vs UK£0.32 loss in 1H 2022) First half 2023 results: EPS: UK£0.52 (up from UK£0.32 loss in 1H 2022). Revenue: UK£919.3m (down 1.4% from 1H 2022). Net income: UK£353.0m (up UK£569.2m from 1H 2022). Profit margin: 38% (up from net loss in 1H 2022). The move to profitability was driven by lower expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Global Water Utilities industry. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 5% per year. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Louise Beardmore was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Jun 16
Upcoming dividend of UK£0.29 per share Eligible shareholders must have bought the stock before 23 June 2022. Payment date: 01 August 2022. The company is not currently making a profit and its cash payout ratio is 97%. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (4.5%). In line with average of industry peers (3.9%). Reported Earnings • May 27
Full year 2022 earnings released: UK£0.083 loss per share (vs UK£0.67 profit in FY 2021) Full year 2022 results: UK£0.083 loss per share (down from UK£0.67 profit in FY 2021). Revenue: UK£1.86b (up 3.0% from FY 2021). Net loss: UK£56.8m (down 113% from profit in FY 2021). Over the next year, revenue is forecast to grow 1.7%, compared to a 4.6% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Director Liam Butterworth was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Feb 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Director Liam Butterworth was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Dec 09
Upcoming dividend of UK£0.14 per share Eligible shareholders must have bought the stock before 16 December 2021. Payment date: 01 February 2022. The company is paying out more than 100% of its profits and is paying out 94% of its cash flow. Trailing yield: 3.9%. Within top quartile of German dividend payers (3.4%). Higher than average of industry peers (3.5%). Reported Earnings • Nov 25
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: UK£0.32 loss per share (down from UK£0.24 profit in 1H 2021). Revenue: UK£932.3m (up 4.2% from 1H 2021). Net loss: UK£216.2m (down 234% from profit in 1H 2021). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to stay flat compared to a 5.0% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Board Change • Oct 14
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Doug Webb was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Executive Departure • Jul 25
Independent Non-Executive Director Brian May has left the company On the 23rd of July, Brian May's tenure as Independent Non-Executive Director ended after 8.9 years in the role. As of March 2021, Brian still personally held only 3.00k shares (€32k worth at the time). Brian is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 3.50 years. Executive Departure • Jul 24
Independent Non-Executive Director Brian May has left the company On the 23rd of July, Brian May's tenure as Independent Non-Executive Director ended after 8.9 years in the role. As of March 2021, Brian still personally held only 3.00k shares (€32k worth at the time). Brian is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 3.50 years. Upcoming Dividend • Jun 17
Upcoming dividend of UK£0.29 per share Eligible shareholders must have bought the stock before 24 June 2021. Payment date: 02 August 2021. Trailing yield: 4.2%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (3.5%). Recent Insider Transactions • Jun 05
General Counsel & Company Secretary recently sold €52k worth of stock On the 2nd of June, Simon Gardiner sold around 4k shares on-market at roughly €11.75 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €255k more than they bought in the last 12 months. Reported Earnings • May 29
Full year 2021 earnings released: EPS UK£0.67 (vs UK£0.16 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: UK£1.81b (down 2.8% from FY 2020). Net income: UK£453.4m (up 325% from FY 2020). Profit margin: 25% (up from 5.7% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 18
New 90-day high: €10.95 The company is up 7.0% from its price of €10.25 on 19 November 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Water Utilities industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €17.29 per share. Is New 90 Day High Low • Jan 28
New 90-day high: €10.70 The company is up 15% from its price of €9.34 on 30 October 2020. The German market is up 19% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Water Utilities industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €17.07 per share. Recent Insider Transactions • Dec 23
General Counsel & Company Secretary recently bought €50k worth of stock On the 16th of December, Simon Gardiner bought around 5k shares on-market at roughly €10.49 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €419k more in shares than they bought in the last 12 months. Is New 90 Day High Low • Dec 10
New 90-day high: €10.69 The company is up 15% from its price of €9.26 on 11 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Water Utilities industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €13.08 per share. Recent Insider Transactions • Dec 05
CEO & Executive Director recently sold €203k worth of stock On the 2nd of December, Steven Mogford sold around 20k shares on-market at roughly €10.16 per share. This was the largest sale by an insider in the last 3 months. This was Steven's only on-market trade for the last 12 months. Analyst Estimate Surprise Post Earnings • Nov 26
Revenue beats expectations Revenue exceeded analyst estimates by 0.7%. Over the next year, revenue is expected to shrink by 1.4% compared to a 8.7% growth forecast for the Water Utilities industry in Germany. Reported Earnings • Nov 26
First half 2021 earnings released: EPS UK£0.24 The company reported a decent first half result with improved earnings and profit margins, although revenues were weaker. First half 2021 results: Revenue: UK£894.4m (down 4.4% from 1H 2020). Net income: UK£162.0m (up 2.1% from 1H 2020). Profit margin: 18% (up from 17% in 1H 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Nov 13
New 90-day high: €10.52 The company is up 4.0% from its price of €10.12 on 14 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Water Utilities industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €13.83 per share. Is New 90 Day High Low • Sep 23
New 90-day low: €9.12 The company is down 12% from its price of €10.33 on 25 June 2020. The German market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Water Utilities industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €13.07 per share. 
