III 3i Group Plc

TIDMIII

RNS Number : 7923Z

3i Group PLC

23 September 2020

Press release

23 September 2020

3i Group plc

Update on the 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 approach to ESG and responsible investment, as well as on Evernex and SaniSure, two of our recent Private Equity Investments. In addition, Simon Borrows, our Chief Executive, will provide an update on the portfolio, 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 now completed our September semi-annual portfolio company reviews for Private Equity, Infrastructure and Scandlines, which have reinforced our belief in the resilience and strength of earnings performance in the significant majority of our investments. The automotive sector remains challenged, and public health policy has prolonged the uncertainty for the travel sector. However, we continue to see strong momentum in portfolio companies exposed to medical technology and personal care products and very good recovery in our retail businesses, particularly in online, and of course in Action.

Action's impressive performance has continued with sales, EBITDA and cash generation above expectations for P7 (July), P8 (August) and P9 (September) to date. YTD sales at over EUR3.7 billion have now recovered to be approximately 8% ahead of last year with strong trading continuing across all geographies. We expect LTM EBITDA to the end of P9 to be approximately EUR575 million compared to EUR506 million at September last year and EUR491 million at the end of P4 this year. Cash generation has continued to be strong with a current cash balance of over EUR625 million after a EUR51 million repayment of the RCF. Action has now opened 88 stores in 2020 including its first five stores in the Czech Republic. Initial trading in the Czech Republic has been significantly ahead of expectations.

A live webcast of the seminar will be available at 14.00. To register for the webcast, please visit www.3i.com/investor-relations/capital-markets-presentations/2020 .

- Ends-

For further information, contact:

 
 3i Group plc 
 
  Silvia Santoro            Tel: +44 20 7975 3258 
  Investor enquiries        Email: silvia.santoro@3i.com 
 
  Kathryn van der Kroft     Tel: +44 20 7975 3021 
  Media enquiries           Email: 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

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 or visit 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.

END

MSCBIGDCXSDDGGD

(END) Dow Jones Newswires

September 23, 2020 02:00 ET (06:00 GMT)

3i (LSE:III)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024

3i (LSE:III)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024