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

3iAnnouncement

23/03/2023 07:15

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RNS Number : 9326T  3i Group PLC  23 March 2023

 
 
 
23 March 2023

 

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 a presentation from the management team of Action, our
largest portfolio company. A live webcast of the seminar will take place at
10:00 (UK time). 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 2022 financial year Action
generated net sales of €8,859 million and operating EBITDA of €1,205
million, 30% and 46% respectively higher than in 2021. Like-for-like sales
growth was 18.1% and the business added 280 stores in the year. Sales leverage
and good cost discipline were the main drivers behind the increased EBITDA
margin of 13.6%.

 

Action has seen a strong start to 2023 across all its geographies. In the
period to the end of week 11, net sales were €2.09 billion, 37% ahead of the
same period in 2022. Like-for-like sales growth in the first 11 weeks was
24.8% with growth in transactions accounting for approximately 90% of the
strong performance. Cash generation has also seen good growth with cash and
cash equivalents as at 19 March 2023 of €802 million. The business has added
23 stores in the year to date. 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. Our portfolio is demonstrating good overall resilience with the
majority of companies showing good momentum into 2023. 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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