REG - 3i Group PLC - Action Capital Markets Seminar & portfolio update

3iAnnouncement

20/03/2025 07:00

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RNS Number : 3730B  3i Group PLC  20 March 2025

 
20 March 2025

 

3i Group plc

Action Capital Markets Seminar and portfolio update

 

 

3i Group plc ("3i", or "the Group") will be holding a capital markets seminar
this morning, involving presentations from the management team of Action, our
largest portfolio company. A live webcast of the seminar will take place at
10:00 (UK time). To register for the webcast, please visit
https://www.3i.com/investor-relations (https://www.3i.com/investor-relations)
. An on-demand webcast of the seminar will also be available by the end of the
day.

 

In its 2024 financial year Action generated net sales of €13,781 million and
operating EBITDA of €2,076 million, 22% and 29% respectively higher than in
2023. Like-for-like sales growth was 10.3% and the business added 352 stores
in the year. Operating leverage and good cost discipline were the main drivers
behind the increased EBITDA margin of 15.1%.

 

Action has made a good start to 2025. In the period to the end of week 11,
Action's net sales were €2.95 billion, 17% ahead of the same period in 2024.
Like-for-like sales growth in the first 11 weeks of the year was 6.1%, with
growth in transactions being 6.5%. The YTD like-for-like sales have been
affected by temporary availability issues in certain stores and DCs as a
result of the changeover of Action's ERP system at the turn of the year. These
issues have now been dealt with. The business has added 38 stores in the year
to date. Cash and cash equivalents as at 16 March 2025 was €927 million.
Action is planning to make another dividend payment to shareholders in the
last week of March.

 

The following guidance for Action's year to December 2025 will be set out
during the presentation.

 

 Like-for-like sales growth  Above YTD like-for-like sales and in the mid to high single digit range
 Net store opening target    c.370
 EBITDA margin expansion     +c.10-20 bps from 15.1% for the 12 months to 29 December 2024

 

Action's estimate of white space potential in existing and identified in-scope
countries in Europe will be updated to 4,850 stores in addition to the 2,918
existing stores at the end of 2024. This represents an increase of c.500 from
the white space estimate given last year.

 

In March 2025, Action completed a successful, leverage neutral repricing of
c.53% of its debt facilities, generating an annual interest cost saving of
c.€19 million, in addition to the c.€14 million of annual interest savings
generated through the amend, extend and repricing transaction executed in
November 2024.

 

We have recently completed our semi-annual portfolio company review
meetings.  Our other long term hold asset Royal Sanders continues to trade
well. The PE portfolio more generally continues to make good progress against
a difficult macro and uncertain geo-political environment with good
performance across a number of 3i's larger investments. Overall, across the
whole portfolio the performance in the initial weeks of 2025 was encouraging
with only a small number still facing material headwinds. Our full year
results will be published in May.

 

 

- Ends -

 

For further information, contact:

 

 3i Group plc

 Silvia Santoro          Tel: +44 20 7975 3258

 Investor enquiries      Email: silvia.santoro@3i.com (mailto:silvia.santoro@3i.com)

 Kathryn van der Kroft   Tel: +44 20 7975 3021

 Media enquiries         Email: kathryn.vanderkroft@3i.com (mailto:kathryn.vanderkroft@3i.com)

 

Notes to editors:

 

About 3i Group

3i is a leading international investment manager focused on mid-market Private
Equity and Infrastructure. Our core investment markets are northern Europe and
North America.

 

For further information, please visit: www.3i.com (http://www.3i.com) .

 

 

 

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