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Results for the year to 31 March 2022

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3i Infrastructure plc (the ‘Company’) today announces a 17.2% return for the year, delivery of the FY22 dividend of 10.45 pence and a 6.7% increase in the target dividend for FY23 to 11.15 pence per share.

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

“I am delighted to report that we achieved a return of 17.2% in the year ended 31 March 2022, well ahead of our target and demonstrating the attractiveness of our portfolio. This is the eighth consecutive year that we have met or exceeded our 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:

“It was a very good year for the Company – a high level of new investment, excellent realisations, and a strong portfolio performance.”

 

Performance highlights

Portfolio consistently meeting or
exceeding target returns

17.2%
Total return on opening NAV

£404m
Total return for the year

303.3p
NAV per share

Strong level of new investments

£980m
New investments or commitments

Successful realisation of Oystercatcher’s European terminals and the European Projects portfolio

14% IRR and 20% IRR

Delivered FY22 dividend target, fully covered

Setting target for FY23 dividend, up 6.7% year on year

10.45p
Full year dividend per share for FY22

11.15p
Target dividend per share for FY23

 

-END-

 


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 2022 have not yet been delivered to the Jersey Financial Services Commission. The statutory accounts for the year to 31 March 2021 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 2021.

Note 2

Subject to shareholder approval, the proposed final dividend is expected to be paid on 11 July 2022 to holders of ordinary shares on the register on 17 June 2022. The ex-dividend date for the final dividend will be on 16 June 2022.

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 2022 Annual report and accounts and in the Financial review section.

Note 4

The preliminary announcement has been extracted from the Annual report and accounts 2022. The Annual report and accounts 2022 will be available on the Company’s website today. Printed copies of the Annual report and accounts 2022 will be distributed to shareholders who have elected to receive printed copy communications on or soon after 23 May 2022.

 

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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