REG - 3i Group PLC - Action Capital Markets Seminar & portfolio update

3iAnnouncement

21/03/2024 07:00

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RNS Number : 7017H  3i Group PLC  21 March 2024

 
21 March 2024

 

3i Group plc

Action Capital Markets Seminar and portfolio update

 

3i Group plc ("3i", or "the Group") will be holding a capital markets seminar
this morning, involving presentations from the management team of Action, our
largest portfolio company. The seminar will include a presentation on Action's
results and strategy, as well as a separate presentation focused on Action's
sustainability programme. A live webcast of the seminar will take place at
10:00 (UK time), with the sustainability session starting at 12:30 after a
short break, and expected to end by 13:15. To register for the webcast, please
visit https://www.3i.com/investor-relations
(https://www.3i.com/investor-relations) . An on-demand webcast of the seminar
will also be available by the end of the day.

 

As disclosed in our Q3 performance update, in its 2023 financial year Action
generated net sales of €11,324 million and operating EBITDA of €1,615
million, 28% and 34% respectively higher than in 2022. Like-for-like sales
growth was 16.7% and the business added 303 stores in the year. Operating
leverage and good cost discipline were the main drivers behind the increased
EBITDA margin of 14.3%.

 

Action has seen a strong start to 2024 across all its geographies. In the
period to the end of week 11, net sales were €2.5 billion, 21% ahead of the
same period in 2023.  Like-for-like sales growth in the first 11 weeks of the
year (which, compared to the same period last year, had one fewer trading day)
was 9.6%, with growth in transactions accounting for over 100% of the strong
performance.  Cash and cash equivalents as at 17 March 2024 was €1,077
million. The business has added 32 stores in the year to date, including
Action's first two stores in Portugal.  Action is planning to make another
dividend payment to shareholders in the last week of March. More details on
Action's performance will be available in the presentation.

 

We have also recently completed our semi-annual portfolio company review
meetings. The rest of the 3i portfolio continues to demonstrate overall
resilience with the majority of companies showing good momentum into 2024. Our
full year results will be published in May.

 

- Ends -

 

For further information, contact:

 

 3i Group plc

 Silvia Santoro          Tel: +44 20 7975 3258

 Investor enquiries      Email: silvia.santoro@3i.com (mailto:silvia.santoro@3i.com)

 Kathryn van der Kroft   Tel: +44 20 7975 3021

 Media enquiries         Email: kathryn.vanderkroft@3i.com (mailto:kathryn.vanderkroft@3i.com)

 

Notes to editors:

 

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 (http://www.3i.com) .

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