REG - 3i Group PLC - Update on portfolio and Capital Markets Seminar

3iAnnouncement

26/09/2022 07:00

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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 €5.8 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 €1,035 million compared to €765
million at September last year and €506 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/
(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 (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)

 

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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