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Results for the year to 31 March 2020

3i Infrastructure plc (the ‘Company’) today announces an 11.4% return for the year, delivery of the FY20 dividend of 9.2 pence and a 6.5% increase in the target dividend for FY21 to 9.8 pence per share.

Richard Laing, Chair of 3i Infrastructure plc, said:
“The Company continued to outperform its objectives and made two major realisations in the year as well as a new investment in Ionisos. Covid-19 will affect all businesses but the portfolio is so far proving resilient, reflecting the essential nature of the services delivered. The strength of our portfolio and liquidity position gives us the confidence to set a target dividend of 9.8 pence per share for FY21, an increase of 6.5%.”

Phil White, Managing Partner, Infrastructure, 3i Investments plc, said:
“Once again, we have delivered a return well ahead of our target of 8 to 10 percent per annum over the medium term. We have a well-diversified portfolio of defensive asset-intensive businesses delivering essential services. These are unprecedented conditions but the performance of our portfolio has been reassuring and we continue to believe that it is well positioned to meet our targets.”

Performance highlights

Exceeded our medium-term target

11.4%
Total return on opening NAV

£224m
Total return for the year

254.5p
NAV per share

New investment in Ionisos, further
diversifying the portfolio

£186m
New investment

Realisations of WIG and the UK projects portfolio

£581m
Gross proceeds

Strong cash position in uncertain markets

£418m
Total cash

Delivered the dividend target for FY20, fully covered

Setting a higher target for FY21, up 6.5%

9.2p
Full year dividend per share for FY20

9.8p
Target dividend per share for FY21

-END-

Download the results highlights  

Download the full results  


For further information, please contact:

Richard Laing, Chair, 3i Infrastructure plc

Tel: 037 1664 0445

Thomas Fodor, investor enquiries

Tel: 020 7975 3469

Kathryn van der Kroft, press enquiries

Tel: 020 7975 3021

For further information regarding the announcement of the results for 3i Infrastructure plc, including a live webcast of the results presentation at 10.00am, please visit www.3i-infrastructure.com. The analyst presentation will be made available on this website during the day.

 

Notes to the preliminary announcement

Note 1
The statutory accounts for the year to 31 March 2020 have not yet been delivered to the Jersey Financial Services Commission. The statutory accounts for the year to 31 March 2019 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 2019.

Note 2
Subject to shareholder approval, the proposed final dividend is expected to be paid on 13 July 2020 to holders of ordinary shares on the register on 19 June 2020. The ex-dividend date for the final dividend will be on 18 June 2020.

Note 3
This report contains Alternative Performance Measures ('APMs'), which are financial measures not defined in International Financial Reporting Standards ('IFRS'). More information relating to APMs, including why we use them and the relevant definitions, can be found in the Company's 2020 Annual report and accounts and in the Financial review section.

Note 4
The preliminary announcement has been extracted from the annual report and accounts 2020. The annual report and accounts 2020 will be available on the Company’s website today. Printed copies of the annual report and accounts 2020 will be distributed to shareholders who have elected to receive printed copy communications on or soon after 21 May 2020.

 

Notes to editors

About 3i Infrastructure plc

3i Infrastructure plc is a Jersey-incorporated, closed-ended investment company, an approved UK Investment Trust, listed on the London Stock Exchange and regulated by the Jersey Financial Services Commission. The Company's purpose is to deliver a long-term sustainable return to shareholders from investing in infrastructure.

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 Manager 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 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 our expectations are based on reasonable assumptions, any statements about the future outlook are subject to a number of risks and uncertainties and could change. Factors which could cause or contribute to such differences include, but are not limited to, general economic and market conditions and specific factors affecting the financial prospects or performance of individual investments within the portfolio of 3i Infrastructure plc.

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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