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Results for the year to 31 March 2018

3i Infrastructure today announces an outstanding 28.6% return for the year and a 10% increase in the target dividend for FY19 to 8.65 pence per share.

Richard Laing, Chairman of 3i Infrastructure plc, said: “The Company had an outstanding year. The realisations of our holdings in Elenia and Anglian Water Group generated exceptional value for shareholders.”

Phil White, Managing Partner, Infrastructure, 3i Investments plc, said: “The outstanding return delivered through the sales of Anglian Water Group and Elenia has underpinned a very strong year for the Company. As well as the special dividend paid in March, the proceeds have been invested to further diversify and balance our portfolio.”

Performance highlights

 

Outstanding portfolio performance 
drove growth in net asset value

28.6%
Total return on opening NAV

£480m 
Total return for the year

211.0p 
NAV per share

 

Delivered the dividend target for FY18

Proposed 10% increase in the 
dividend target for FY19

7.85p
Full year dividend per share for FY18

8.65p
Target dividend per share for FY19

Strong income progression

£156m
Total income and non-income cash

Success in new investment across our target markets

£525m
Invested or committed in the year

Returned £425m to shareholders as a special dividend


Maintained an efficient balance sheet

£425m
Cash returned to shareholders in the year

£285m
Cash balances

 -END-

Download the results highlights  

Download the full results  


For further information, please contact:

Richard Laing, Chairman, 3i Infrastructure plc Tel: 01534 847 410
Thomas Fodor, investor enquiries Tel: 020 7975 3469
Kathryn van der Kroft, press enquiries Tel: 020 7975 3021

 
Notes to the preliminary announcement

Note 1

The statutory accounts for the year to 31 March 2018 have not yet been delivered to the Jersey Financial Services Commission. The statutory accounts for the year to 31 March 2017 have been delivered to the Jersey Financial Services Commission. The auditor’s reports on the statutory accounts for these years are unqualified. This announcement does not constitute statutory accounts. The preliminary announcement is prepared on the same basis as set out in the statutory accounts for the year to 31 March 2017.

Note 2

Subject to shareholder approval, the proposed final dividend is expected to be paid on 9 July 2018 to holders of ordinary shares on the register on 15 June 2018. The ex-dividend date for the final dividend will be on 14 June 2018.

Note 3

The preliminary announcement has been extracted from the annual report and accounts 2018. The annual report and accounts 2018 will be available on the Company’s website today. Printed copies of the annual report and accounts 2018 will be distributed to shareholders who have elected to receive printed copy communications on or soon after 24 May 2018.

Note 4

This announcement may contain certain statements about the future outlook for 3i Infrastructure plc. Although we believe our expectations are based on reasonable assumptions, any statements about the future outlook may be influenced by factors that could cause actual outcomes and results to be materially different.

Notes to editors

3i Infrastructure plc is a Jersey-incorporated, closed-ended investment company, listed on the London Stock Exchange and regulated by the Jersey Financial Services Commission. The Company is a long-term investor in infrastructure businesses and assets. The Company’s market focus is on economic infrastructure and greenfield projects in developed economies, principally in Europe, investing in operating businesses and projects which generate long-term yield and capital growth.

3i Investments plc, a wholly-owned subsidiary of 3i Group plc, is authorised and regulated in the UK by the Financial Conduct Authority and acts as Investment Adviser to 3i Infrastructure plc.

This statement has been prepared solely to provide information to shareholders. It should not be relied on by any other party or for any other purpose. It and the Company’s annual report and accounts 2018 may contain statements about the future, including certain statements about the future outlook for 3i Infrastructure plc. These are not guarantees of future performance and will not be updated. Although we believe the expectations are based on reasonable assumptions, any statements about the future outlook may be influenced by factors that could cause actual outcomes and results to be materially different.

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, 3i India Infrastructure Fund and management, as applicable, as well as financial statements. No public offering in the United States is currently contemplated.

 

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