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Interim results for the period from 21 March 2007 to 30 September 2007

On track to deliver objectives set out at IPO.

For the period from 16 January 2007 to 30 September 2007

 

Investment

£412.7m

Total return

£33.3m

Total return as a percentage of opening shareholders'' equity (1)

4.8%

Diluted Net Asset Value per share (pre-dividend)

103.1p

Interim dividend per share

2.0p

Note: the financial information above has been prepared according to the investment basis of reporting. 
(1) Opening shareholders'' equity is defined specifically for this period as total funds raised at IPO less formation costs.

Commentary

  • 3i Infrastructure is on track to achieve full investment within two years of IPO, with 60% of net IPO proceeds already invested in a portfolio of assets which is diversified by sector, maturity and geography;
  • The portfolio is performing well and delivering returns in line with expectations;
  • The Company has made progress on strategic initiatives during the period, notably through the US$250 million commitment to the 3i India Infrastructure Fund, £56 million (US$114 million) of which has already been drawn down;
  • The prospects for the infrastructure asset class remain positive and the Investment Adviser has developed a pipeline of high-quality potential investment opportunities. The Company is well positioned to take advantage of the market opportunity;
  • Based on the Company''s performance, the Board of Directors has approved an interim dividend of 2.0p per share.

Peter Sedgwick, Chairman of 3i Infrastructure Limited, said:

"With the outlook for the infrastructure sector remaining positive, current portfolio assets performing well and a good pipeline of investment opportunities, I believe 3i Infrastructure is well placed to deliver, in the medium term, the return objectives set out at IPO."

Michael Queen, Managing Partner, Infrastructure, 3i Investments plc, added:

"The opportunity for infrastructure investment in both mature and emerging markets is significant. The defensive characteristics of the asset class make it even more attractive in the current turbulent market. Competition for high-quality assets is likely to remain high and we therefore remain focused on a selective approach to investment."

-Ends-

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For further information, please contact:

Michael Queen, Managing Partner, Infrastructure, 3i Investments plc

Tel:  020 7975 3572

Stephen Halliwell, CFO, Infrastructure, 3i Investments plc

Tel:  020 7975 3263

Silvia Santoro, investor enquiries

Tel:  020 7975 3258

Jennifer Letki, press enquiries

Tel:  020 7975 3190

LydiaPretzlik, The Maitland Consultancy

Tel:  020 7379 5151

 

For further information regarding the announcement of interim results for 3i Infrastructure Limited please see www.3i-infrastructure.com. The analyst presentation and scripts will be made available on this website during the day.

 

NOTES TO EDITORS

3i Infrastructure is a Jersey-incorporated, closed-ended investment company that invests in infrastructure businesses and assets and is regulated by the Jersey Financial Services Commission. The Company listed on the London Stock Exchange on 13 March 2007, raising £703 million in an initial public offering and is a component of the FTSE 250 index.

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

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

The interim report of 3i Infrastructure Limited for the period to 30 September 2007 has been drawn up and presented in accordance with and in reliance upon applicable English law and the liabilities of the Company in connection with that report shall be subject to limitations and restrictions provided by such law. The interim results for the period to 30 September 2007 are unaudited.

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