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

3iAnnouncement

20/09/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230920:nRST9802Ma&default-theme=true

RNS Number : 9802M  3i Group PLC  20 September 2023

 
Press release
20 September 2023

 

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 nexeye and European Bakery
Group, two of our Private Equity investments, as well as on our in-house
Private Equity Banking Team. 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 against a difficult macroeconomic backdrop. In our Private
Equity portfolio, assets in the value-for-money consumer and private label,
healthcare, speciality industrial and technology services sectors are
generating resilient earnings growth and are showing positive momentum as we
head into the second half of our financial year. Our travel related assets
have seen a sustained increase in demand. Luqom and YDEON continue to face a
challenging sales environment following the Covid lockdown period. Tato,
Formel D and Wilson are also dealing with weaker end markets and the resulting
reduction in customer demand. 3i's strong active asset management processes
continue to be a key part of how we mitigate the impact of today's market
challenges.

 

Action's impressive performance has continued with very strong sales and
EBITDA growth. Year-to-date sales (at 17 September 2023) of €7.5 billion are
now 31% ahead of the same period last year. LFL sales growth over the same
period was 20%, driven primarily by high customer footfall.  As previously
indicated LFL performance comparisons will be more challenging for the
remainder of the current calendar year. Action continues to attract
significant new customer flow through very low prices and good product
availability in store, with strong performance across all geographies and
categories. We expect operating EBITDA for the 12 months to the end of P9 2023
to be circa €1,530 million compared to €1,036 million at the end of
September 2022. Cash generation has continued to be strong, with cash balances
at 17 September 2023 at €1,014 million. Action has now added 140 net new
stores in the year to date and remains on track to add circa 300 stores in
2023.

 

 

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/2023/
(https://www.3i.com/investor-relations/capital-markets-presentations/2023/)
.

 

- 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)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEAXNNFFSDEFA