Business
Results for the year to 31 March 2025
Results for the year to 31 March 2025.
About this update from 3i Group Plc
[{"type":"text","content":"\n\n\n15 May 2025\n \n3i Group plc announces results for the year\nto 31 March 2025\nA year of consistently strong growth\n\n\n\n\n\n\n\n\n\n• Total return of £5,049 million or 25% on opening shareholders' funds (2024: £3,839 million, 23%) and NAV per share of 2,542 pence (31 March 2024: 2,085 pence). This includes a 27 pence per share loss on foreign exchange translation.\n\n\n\n\n\n\n\n\n\n• Our Private Equity business delivered a gross investment return (\"GIR\") of £5,113 million or 26% (2024: £4,059 million, 25%). This result was driven primarily by Action's continued strong performance in FY2025. Royal Sanders, our other longer-term hold investment, also produced a very strong return, driven by organic and acquisitive growth. We saw good growth across several of our other consumer and private label, industrial and healthcare portfolio companies. Trading in our services and software portfolio has been resilient, despite a cautious IT spending environment. Market-specific challenges continue to impact a small number of portfolio companies.\n\n\n\n\n\n\n\n\n\n• Action generated a GIR of £4,551 million, or 32%, on its opening value. It delivered annual revenue growth of 22%, like-for-like (\"LFL\") sales growth of 10.3% and EBITDA growth of 29% in 2024. The business has started 2025 well, with net sales of €3,521 million (first three periods of 2024: €3,004 million), operating EBITDA of €464 million (first three periods of 2024: €397 million) and LFL sales growth of 6.2% in the first three periods of 2025 (P3 2025 which ended on 30 March 2025). The LTM run-rate EBITDA to P3 2025, totalled €2,328 million (LTM run-rate EBITDA to 31 March 2024: €1,848 million), representing a 26% increase on the same period last year. This strong performance supported value growth of £4,324 million for Action in the year, in addition to realised proceeds and dividend distributions to 3i of £1,597 million.\n\n\n\n\n\n\n\n\n\n• At the end of week 19 (11 May 2025), Action's year-to-date LFL sales growth was 6.8% and 76 new stores had been added. At that date, Action's cash balance was €427 million.\n\n\n\n\n\n\n\n\n\n• The Private Equity team invested £1,177 million in the year, including £768 million in a further stake in Action, £318 million in new investments in Constellation, WaterWipes and OMS Prüfservice, £39 million in a further investme...