REG - 3i Infrastructure - 3i Infrastructure plc - Performance update

3i InfrastructureAnnouncement

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RNS Number : 4905P  3i Infrastructure PLC  03 July 2025

 

3 July 2025

 

3i Infrastructure plc - Q1 performance update

 

 

 

Our portfolio continues to perform well

 

3i Infrastructure plc ('3iN' or the 'Company') is an investment company whose
purpose is to invest responsibly in infrastructure, delivering long-term
sustainable returns to shareholders and having a positive influence on our
portfolio companies and their stakeholders.

 

This statement relates to the period from 1 April 2025 to 30 June 2025 (the
'Period').

 

Bernardo Sottomayor, Managing Partner and Head of European Infrastructure, 3i
Investments plc, Investment Manager of the Company, commented:

 

"We are pleased with the start to our new financial year, with our portfolio
companies generally performing in line with or ahead of expectations. Whilst
the market remains uncertain, our diverse and resilient portfolio continues to
offer a combination of defensive characteristics and long-term valuation
upside."

 

Highlights

 

·   FLAG successfully refinanced its debt facilities, which had been in
place since acquisition.  The new facilities were raised with reduced margins
and improvements in other terms, and include a $100 million revolving credit
facility that will enable the business to continue to upgrade and extend its
fibre network.

 

·   On 2 June, Infinis's new CEO, Bruce Heppenstall (formerly at Drax
Group), took over the role from Shane Pickering, who retired after leading
Infinis since 3iN acquired the business in 2016.

 

·   TCR continues to outperform and signed a number of new contracts. On 1
July, a new CEO, Jason Watson, formerly deputy CEO of TCR and Head of the APAC
region, succeeded Tom Bellekens, who moves to a full-time Executive Chair role
for the business. The leadership team was strengthened further with the
appointment of a new CFO, Andrew Blincoe, formerly a senior infrastructure
banker and head of corporate banking at NatWest.

 

·    SRL is performing in line with our revised expectations. The new
remotely-monitored signals are being well received in the market. However, we
remain cautious given market conditions have yet to materially improve.

 

·    Income in line with expectations: Total income and non-income cash in
the Period was £63 million.

 

·    Final FY25 dividend payment and FY26 target: Payment of the final
dividend for FY25 of 6.325 pence per share is due to be made on 11 July 2025.
The Company is on track to deliver the FY26 dividend target of 13.45 pence
per share, up 6.3% from FY25, which is expected to be covered by net income.

 

·    Balance Sheet: At 30 June 2025, drawings on the Company's £900
million multi-currency Revolving Credit Facility ('RCF') are £343 million.
The Company has a cash balance of £65 million, leaving a net debt position
of £278 million. Subject to approval at the Company's AGM on 3 July 2025,
this cash balance will be reduced by the payment of the final dividend of £58
million on 11 July 2025.

 

 

Ends

 

 

For information, please contact:

 

 Thomas Fodor           Shareholder enquiries  +44 20 7975 3469
 Kathryn van der Kroft  Media enquiries        +44 20 7975 3021

 

 

About 3i Infrastructure plc

3i Infrastructure plc is a Jersey-incorporated, closed-ended investment
company, an approved UK Investment Trust, listed on the London Stock Exchange
and regulated by the Jersey Financial Services Commission. The Company's
purpose is to invest responsibly in infrastructure, delivering

long-term sustainable returns to shareholders and having a positive influence
on its portfolio companies and their stakeholders.

 

3i Investments plc, a wholly-owned subsidiary of 3i Group plc, is authorised
and regulated in the UK by the Financial Conduct Authority and is the
investment manager of 3i Infrastructure plc.

 

This press release is not for distribution (directly or indirectly) in or to
the United States, Canada, Australia or Japan and is not an offer of
securities for sale in or into the United States, Canada, Australia or
Japan.  Securities may not be offered or sold in the United States absent
registration under the U.S.  Securities Act of 1933, as amended (the
'Securities Act'), or an exemption from registration under the Securities
Act.  Any public offering to be made in the United States will be made by
means of a prospectus that may be obtained from the issuer or selling security
holder and will contain detailed information about 3i Group plc, 3i
Infrastructure plc and management, as applicable, as well as financial
statements.  No public offering in the United States is currently
contemplated.

 

This statement aims to give an indication of material events and transactions
that have taken place in the period from 1 April 2025 to 30 June 2025 and
their impact on the financial position of 3i Infrastructure plc.  These
indications reflect the Board's current view.  They are subject to a number
of risks and uncertainties and could change.  Factors which could cause or
contribute to changes include, but are not limited to, general economic and
market conditions and specific factors affecting the financial prospects or
performance of individual investments within the portfolio of 3i
Infrastructure plc.

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