3i Group PLC Action Capital Markets Seminar & portfolio update (8317F)
March 24 2022 - 3:00AM
UK Regulatory
TIDMIII
RNS Number : 8317F
3i Group PLC
24 March 2022
24 March 2022
3i Group plc
Action Capital Markets Seminar and portfolio update
3i will be holding a capital markets seminar this morning,
involving a presentation from the management team of Action, our
largest portfolio company. A live webcast of the seminar will take
place at 10.00 (UK time). To register for the webcast, please visit
https://www.3i.com/investor-relations . An on-demand webcast of the
seminar will also be available on our website by the end of the
day.
Action performed strongly in 2021, generating net sales of
EUR6,834 million (up 23% on the previous year) and EBITDA of EUR828
million (a 36% increase on the previous year). Reported
like-for-like sales growth was 11%, even though many stores were
closed or had restricted trading as a result of public health
measures. The business added 267 net new stores to its portfolio
and expanded its presence into the Italian market. Action has seen
a good start to 2022 across all its geographies. More details on
Action's performance will be available in the presentation.
We completed our semi-annual portfolio company review ("PCR")
meetings for our top 20 Private Equity investments (which at 31
December accounted for 97% of the total Private Equity portfolio
value) during the two weeks commencing 7 March 2022. Overall, the
PCR meetings re-emphasised the strong momentum in the portfolio as
it emerges from the pandemic, with particularly good performance
from our healthcare and consumer retail assets. Inflation and
supply chain challenges will be a focus this year and the majority
of companies in our portfolio have plans to mitigate these
issues.
3i Group has no direct exposure to Russia or Ukraine. We are
reviewing our Private Equity and Infrastructure companies to
understand the situation across the portfolio. Our initial review
indicates that exposure is minimal, although one company has an
operating subsidiary in Russia and that company is exploring how
best to deal with the situation in the short term. Action has not
been directly impacted and has no stores in that region.
3i will be donating GBP1 million split between UNICEF and MSF in
support of humanitarian relief efforts to aid victims of the war in
Ukraine. A number of our portfolio companies, including Action,
have also made donations or otherwise provided support to those
affected by the war.
- 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 .
About Action
Action ( www.company.action.com ) is the fastest growing
non-food discounter in Europe, offering an ever changing variety of
approx. 6000 products in 2000 stores to more than 11 million
customers every week. In addition, each week another 8 million
consumers visit the Action.com website. Action employs over 65,000
people in 9 countries with over 130 different nationalities. While
offering a constantly surprising assortment at the lowest prices,
Action continues to improve its products in terms of quality and
sustainability.
Action's annual results press release and Annual Update are now
available on www.company.action.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
MSCUOSRRUWUOUUR
(END) Dow Jones Newswires
March 24, 2022 03:00 ET (07:00 GMT)
3i (LSE:III)
Historical Stock Chart
From Mar 2024 to Apr 2024
3i (LSE:III)
Historical Stock Chart
From Apr 2023 to Apr 2024