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Results for the year to 31 March 2021

3i Infrastructure plc (the ‘Company’) today announces a 9.2% return for the year, delivery of the FY21 dividend of 9.8 pence and a 6.6% increase in the target dividend for FY22 to 10.45 pence per share.

Richard Laing, Chair of 3i Infrastructure plc, said:

“I am pleased to report that we achieved a return of 9.2% in the year ended 31 March 2021, in line with our target and demonstrating the resilience of our portfolio. This is the seventh consecutive year that we have met or exceeded our medium-term return target; and we have increased the dividend per share in every year of the Company’s existence.”

Phil White, Managing Partner, Infrastructure, 3i Investments plc, added:

“The portfolio continued to be resilient during the Covid-19 pandemic, outperforming the expectations we set a year ago. We were pleased to announce a new investment in DNS:NET, a successful independent telecommunications provider and our first sizeable investment in the German infrastructure market. Competition for new investments is higher than ever and we remain very selective in pursuing new opportunities.”

Performance highlights

Resilient portfolio consistently meeting or exceeding target returns 

9.2%
Total return on opening NAV

£206m
Total return for the year

268.1p
NAV per share

New investment, DNS:NET, in high growth sector
in Germany

€182m
New investment commitment

Delivered FY21 dividend target, fully covered and
up 6.5% year-on-year

Further 6.6% increase in FY22 target ​

9.8p
Full year dividend per share for FY21

10.45p
Target dividend per share for FY22

Strong liquidity position to make new investments and to grow and support existing portfolio

£463m
Cash position

-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 2021 have not yet been delivered to the Jersey Financial Services Commission. The statutory accounts for the year to 31 March 2020 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 2020.

Note 2
Subject to shareholder approval, the proposed final dividend is expected to be paid on 12 July 2021 to holders of ordinary shares on the register on 18 June 2021. The ex-dividend date for the final dividend will be on 17 June 2021.

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 2021 Annual report and accounts and in the Financial review section.

Note 4
The preliminary announcement has been extracted from the Annual report and accounts 2021. The Annual report and accounts 2021 will be available on the Company’s website today. Printed copies of the Annual report and accounts 2021 will be distributed to shareholders who have elected to receive printed copy communications on or soon after 24 May 2021.

 

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 and accounts 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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