Momentum
Relative Strength (%)
1m +6.0%
3m +10.8%
1yr +8.9%
Volume Change (%)
10d v 3m
Price vs... (%)
52w High +2.3%
50d MA +4.71%
200d MA +6.63%
vs.
market
vs.
industry
Growth & Value
12m Forecast Rolling
PE Ratio (f) 11.2
PEG Ratio (f) 0.38
EPS Growth (f) 42.4 %
Dividend Yield (f) 4.74 %
Valuation (ttm)
Price to Book Value 1.18
Price to Tang. Book 1.18
Price to Free Cashflow 91.9
Price to Sales 11.3
EV to EBITDA 20.0

Margin of Safety (beta)
Screens Passed

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vs.
market
vs.
industry
Quality
Return on Capital 5.34 %
Return on Equity 4.47 %
Operating Margin 65.4 %
Balance Sheet · Income Statement · Cashflow Financial Summary
Year End 31st Mar 2008 2009 2010 2011 2012 2013 TTM 2014E 2015E CAGR / Avg
Revenue £m 134.9 106.6 133.7 132.7 107.9 136.2 113.1 +0.2%
Operating Profit £m 96.1 74.8 102.4 99.6 74.9 99.6 74.0 +0.8%
Net Profit £m 71.8 42.6 90.3 93.6 59.6 80.2 48.3 91.7 +2.2%
EPS Reported p 10.2 5.42 11.1 11.4 6.99 9.10 5.48 -2.2%
EPS Normalised p 10.2 5.42 11.1 11.4 6.99 9.10 5.48 13.0 13.8 -2.2%
EPS Growth % -46.8 +105.5 +2.4 -38.7 +30.3 +42.4 +6.64
PE Ratio x 15.9 26.5 11.2 10.5
PEG x 0.38 0.63 1.69 1.65
Profitability
Operating Margin % 71.2 70.2 76.6 75.1 69.4 73.1 65.4 +72.6%
ROA % 3.7 7.2 7.4 4.5 5.7 3.46
ROCE % 9.1 6.0 8.2 7.8 5.5 7.0 5.34 +7.3%
ROE % 5.0 9.6 9.6 5.8 7.4 4.47 +7.5%
Cashflow
Op. Cashflow ps p -75.8 10.0 4.30 -8.42 -1.38 9.53 1.58
Capex ps p 0.000 0.000 0.000 0.000 0.000 0.000 0.000
Free Cashflow ps p -75.8 10.0 4.30 -8.42 -1.38 9.53 1.58
Last ex-div: 18th Jun, paid: 11th Jul more... Dividends
Dividend ps p 5.00 5.30 5.50 5.72 5.94 6.49 6.87 6.88 6.76 +5.4%
Dividend Growth % +6.00 +3.77 +4.00 +3.85 +9.26 +6.01 -1.74
Dividend Yield % 4.48 4.74 4.74 4.66
Dividend Cover x 2.04 1.02 2.02 1.99 1.18 1.40 0.80 1.88 2.04
Balance Sheet
Cash etc £m 291.5 393.7 314 176.3 183.6 185.3 94.7 -8.7%
Working Capital £m 286.9 394.6 316.4 182.3 187.4 197 115 -7.2%
Net Fixed Assets £m 765.1 862.4 926.5 1,093 1,184 1,224 1,270 +9.9%
Net Debt £m -140.5 -217 -144.4 -8.40 -25.3 -24.7 63.9
Book Value £m 768.3 920.7 958.1 1,001 1,070 1,110 1,084 +7.6%
Average Shares m 705.3 786.2 811.1 820.9 853.2 881.4 881.4 +4.6%
Book Value ps p 109.3 113.5 118.1 122.5 121.4 125.9 123 +2.9%

FINANCIAL BRIEF: For the six months ended 30 September 2013, 3i Infrastructure PLC revenues decreased 42% to L32M. Net income decreased 70% to L13.9M. Revenues reflect Unrealised gains on the revaluation of i decrease from L15M to -L9.6M, Interest Receivables decrease of 50% to L300K. Net income also reflects Unrealised (losses)/gains in the fair va decrease of 28% to L8.6M (income), derivative financial instruments decrease from L1M (income) to L0K. more »

Health Trend

Bankruptcy Risk

N/A Earnings Manipulation Risk

Magic Formula Score

Other Ratios
Leverage (ttm) Total Ex Intang
Gross Gearing % 14.6 14.6
Net Gearing % 5.89 5.89
Cash / Assets % 6.79
Liquidity (ttm)
Curr. Ratio 13.6
Quick Ratio 13.6
Interest Cov. 16.1
Efficiency (ttm)
Asset Turnover 0.081
Rec's Turnover 4.05
Stock Turnover n/a

vs.
market
vs.
industry
Recent History
Latest interim period (ended 30th Sep '13) vs. prior year
Sales Growth -41.9 %
EPS Growth -69.6 %
3yr Compound Annual Growth Rate
Sales Growth 0.62 %
EPS Growth -6.50 %
DPS Growth 5.67 %
Graphical History Current Fiscal Year 2014

Broker Forecasts
31st Mar 2014
31st Mar 2015

Price Target: 140 (-3.41% below Price) Net Profit EPS DPS Net Profit EPS DPS
Est. Long Term Growth Rate: n/a (£) (p) (p) (£) (p) (p)
Consensus Estimate - 13.0 6.88 91.7 13.8 6.76
1m Change - - - - - -0.24
3m Change - - - - - -0.24
1 brokers Broker Consensus Trend
Broker Recommendations for 3i Infrastructure
Recommendation:Strong SellSellHoldBuyStrong Buy
No. of Analysts: 0 0 2 1 0

Named Brokers and Analysts
There are no named brokers.

3i Infrastructure plc (3i Infrastructure) is a closed-ended investment company. 3i Infrastructure invests in infrastructure businesses and assets. The Company makes equity and junior or mezzanine debt investments. It invests in companies with stable underlying performance: asset-intensive businesses, providing essential services over the long term, often on a regulated basis, or with contracted revenues. Its objective is to provide shareholders with a total return of 12% per annum over the long term, to be achieved by building and managing a balanced portfolio of infrastructure investments. Its investments are in unquoted companies. 3i Investments plc, a wholly-owned subsidiary of 3i Group plc, acts as the investment adviser to the Company. In March 2013, the Company sold its 50% holding in Alpha Schools (Highland) Holdings Limited (Alpha Schools) to HICL Infrastructure Company Limited.

No Management Information.

No. of Employees: 0 No. of Shareholders: 0


Last Annual March 31st, 2013
Last Interim September 30th, 2013
Shares in Issue 881,351,570
Free Float 880.9m (100.0%)
ISIN JE00B1RJLF86

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