About us

Our strategic objectives

3i is an investment company with two complementary businesses, Private Equity and Infrastructure. We focus on opportunities where our sector and investment expertise, combined with our international presence and strong capital position, can create material value for our stakeholders.

1. Grow investment portfolio earnings

FY2018 progress

91%

of Private Equity portfolio companies1 (by value) grew earnings in FY2018

 1. Includes 21 companies valued on an earnings basis, Basic-Fit and Scandlines.

FY2019 outlook

  • Action’s growth is expected to continue as it plans to open more stores in 2018 than in 2017
  • Strong performance from 2013-16 vintage and good potential in the 2016-19 vintage
  • Close monitoring of potential impact of geo-political and macro-economic uncertainty
2. Realise investments with good cash-to-cash returns

FY2018 progress

 

£1,002m

Private Equity proceeds

£143m

Special dividend from 3iN

FY2019 outlook

  • Scandlines disposal and partial re-investment (net proceeds of c.€350 million) expected to complete in the summer of 2018
  • Expect realisations to be at least £750 million, subject to market conditions
3. Maintain an operating cash profit

FY2018 progress

£11m

Operating cash profit1

1. Operating cash profit is an APM.

FY2019 outlook

  • Increasing cash income expected from Infrastructure and Scandlines
  • Continue to focus on generating income where appropriate from the remainder of the Private Equity portfolio
  • Cost discipline will be maintained
4. Use our strong balance sheet

FY2018 progress

£587m

Invested in Private Equity

£217m

Invested in Infrastructure

FY2019 outlook

  • Plan to invest up to £750 million pa of proprietary capital in four to seven Private Equity investments, whilst maintaining discipline on entry prices
  • Advise 3iN on its recent investments to deliver good returns and source further investment opportunities
  • Support Infrastructure’s fund management initiatives in Europe and North America with new funds
5. Increase shareholder distributions

FY2018 progress

30.0p

Dividend per share

FY2019 outlook

  • The dividend will be subject to the level of investment, realisations and balance sheet strength
  • Aim to maintain or grow the dividend year-on-year
  • Expect interim FY2019 dividend to be 50% of FY2018’s total dividend of 30.0 pence
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