3i Group plc

09/23/2020 | Press release | Distributed by Public on 09/23/2020 00:03

Update on the portfolio and Capital Markets Seminar

23 Sep 2020

Update on the portfolio and Capital Markets Seminar

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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 €3.7 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 €575 million compared to €506 million at September last year and €491 million at the end of P4 this year. Cash generation has continued to be strong with a current cash balance of over €625 million after a €51 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.

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For further information, contact:

3i Group plc

Silvia Santoro
Investor enquiries

Kathryn van der Kroft
Media enquiries

Tel: +44 20 7975 3258
Email: [email protected]

Tel: +44 20 7975 3021
Email: [email protected]

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