Business
Results for the year to 31 March 2022
Results for the year to 31 March 2022.
About this update from 3i Group Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n \n 12 May 2022\n \n \n \n \n \n 3i Group plc announces results for the year\nto 31 March 2022\n \n \n \n \n \n 3i delivered an excellent result in FY2022\n \n \n \n \n \n · \n \n Total return of £4,014 million or 44%\n \n on opening shareholders' funds (March 2021: £1,726 million, 22%) and\n \n NAV per share of 1,321 pence\n \n (31 March 2021: 947 pence).\n \n \n · \n \n Our Private Equity business delivered a gross investment return of £4,172 million or 47%\n \n (March 2021: £1,936 million, 30%). This excellent result was driven by strong earnings growth and realisation profits with valuation multiple increases contributing just 6% of Private Equity GIR in the year. \n \n \n \n \n \n · \n \n Action\n \n delivered annual revenue growth of 23% and EBITDA growth of 36% in 2021 and has started 2022 well. Action's LTM EBITDA to P3 2022, which ended on 3 April 2022, was €932 million (31 March 2021: €602 million) showing the strength in recovery of the group's trading since the severe Covid-19 restrictions in the first three months of 2021.This strong performance underpinned value growth of £2,655 million in the year, in addition to £284 million of dividends received.\n \n \n \n \n \n · \n In competitive markets the\n \n Private Equity\n \n team deployed\n \n £529 million\n \n including six new investments and two transformational bolt-on acquisitions. In addition our portfolio companies completed a further 13 self-funded bolt-on acquisitions.\n \n \n \n \n \n \n \n · \n Across the Group, we received over\n \n £1.2 billion\n \n of cash primarily via portfolio company realisations, refinancings and dividends in the year.\n \n \n \n \n \n \n \n · \n \n Our Infrastructure business generated a gross investment return of £241 million, or 21%\n \n (March 2021: £178 million, 16%). This return was driven by the increase in share price of 3i Infrastructure plc (\"3iN\") and dividend income.\n \n \n \n \n \n · \n \n Scandlines generated a gross investment return of £112 million, or 26%\n \n (March 2021: £25 million, 6%). Freight volumes have been consistently strong, finishing ahead of 2019 levels, whilst leisure volumes showed some signs of recovery but remained below 2019 levels due to varying degre...