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

3iAnnouncement

24/09/2024 07:00

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RNS Number : 3270F  3i Group PLC  24 September 2024

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 our Services and Software sector
approach and on Audley Travel. 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 10:00 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 against a weak macroeconomic backdrop across
the UK and continental Europe. We are seeing good overall performance across
both the Private Equity and Infrastructure portfolios.

 

Action's impressive performance has continued with very strong sales and
EBITDA growth. Year-to-date sales (at 22 September 2024) of €9.3 billion are
21% ahead of the same period last year. Like-for-like ("LFL") sales growth
over the same period was 9.6%. The LFL sales growth was driven by customer
transactions and strong sales of everyday necessities. We expect operating
EBITDA for the 12 months to the end of P9 2024 to be circa €1,880 million
compared to €1,530 million at the end of September 2023, an increase of 23%.
Cash generation has continued to be strong, with cash balances at 22 September
2024 at €779 million. Action has now added 179 net new stores in the year to
date and remains on track to deliver or exceed 330 net new stores in 2024.

 

In the broader Private Equity portfolio, Royal Sanders and European Bakery
Group continue to perform well. Customer demand is also driving a recovery
across the healthcare assets. Audley has continued to see very strong growth
and the software and IT related assets in the portfolio are showing positive
momentum. We are also seeing an improving trend across some of the
discretionary consumer assets and MPM continues to perform well. A number of
the assets which experienced challenging operating conditions last year have
been returning to improving trading trajectories. WilsonHCG has however yet to
see any material upturn in the recruitment process outsourcing market.

 

To register for the webcast, please visit
https://www.3i.com/investor-relations/
(https://www.3i.com/investor-relations/)

 

- 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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