3i Group PLC Update on portfolio and Capital Markets Seminar (5354A)
September 26 2022 - 2:01AM
UK Regulatory
TIDMIII
RNS Number : 5354A
3i Group PLC
26 September 2022
26 September 2022
3i Group plc
Update on portfolio and Capital Markets Seminar
3i Group plc ("3i" or "the Group") will be holding a Capital
Markets Seminar via webcast today, involving presentations on a
number of our Private Equity investments: BoConcept; our healthcare
sector investments with a particular focus on Cirtec Medical; and
WilsonHCG. In addition, Simon Borrows, our Chief Executive, will
provide an update on the portfolio more broadly, the key elements
of which are outlined below. The seminar will start at 14.00 and
the joining details are provided at the end of this press release.
The presentation materials and a recording of the webcast will also
be made available on our website.
We have completed our September semi-annual portfolio company
reviews for Private Equity and Infrastructure. Our investment
portfolios continue to make good progress in what are more
challenging markets. In our Private Equity portfolio, assets in the
value-for-money consumer, healthcare, speciality industrial and
business and technology services sectors have generated strong
earnings growth and have good momentum as we head into the second
half of our financial year. We also see a sustained increase in
demand across the travel-related assets in the portfolio. Assets
exposed to discretionary spending continue to see headwinds but we
have been encouraged by the pricing power shown by a number of the
more challenged companies and the ability of our management teams
to use other levers in their control to partially mitigate rising
energy costs, other inflation impacts and weaker consumer
sentiment. International investments (non-sterling) account for 87%
of 3i's investment portfolio.
Action's impressive performance has continued with very strong
sales and EBITDA growth. Year-to-date sales at over EUR5.8 billion
are now over 26% ahead of the same period last year with strong
trading continuing across all geographies. The Action team
continues to execute its strategy well and the business continues
to attract significant new customer flow through very low prices
and good product availability in store. We expect EBITDA for the
last 12 months to the end of P9 to be circa EUR1,035 million
compared to EUR765 million at September last year and EUR506
million at September 2019. Cash generation has continued to be
strong with net debt now standing at less than 2.1x run-rate
EBITDA. Action has now opened 142 new stores in 2022 and remains on
track to open more new stores than in 2021. Action's energy costs
for 2022 are estimated to total less than 0.4% of sales.
A live webcast of the seminar will be available at 14.00. To
register for the webcast, please visit
https://www.3i.com/investor-relations/capital-markets-presentations/2022/
. Registration will open at 09.00.
- Ends-
For further information, contact:
3i Group plc
Silvia Santoro Tel: +44 20 7975 3258
Investor enquiries Email: silvia.santoro@3i.com
Kathryn van der Kroft Tel: +44 20 7975 3021
Media enquiries Email: kathryn.vanderkroft@3i.com
About 3i Group
3i is a leading international investment manager focused on
mid-market Private Equity and Infrastructure. Our core investment
markets are northern Europe and North America.
For further information, please visit: www.3i.com
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