3i Group PLC Update on portfolio and Capital Markets Seminar (9802M)
2023年9月20日 - 3:00PM
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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 EUR7.5 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 EUR1,530 million compared to EUR1,036
million at the end of September 2022. Cash generation has continued
to be strong, with cash balances at 17 September 2023 at EUR1,014
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/
.
- 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
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
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