The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picks3i Infrastructure Share News (3IN)

Share Price Information for 3i Infrastructure (3IN)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 333.50
Bid: 334.00
Ask: 336.00
Change: -5.00 (-1.48%)
Spread: 2.00 (0.599%)
Open: 339.00
High: 340.00
Low: 333.50
Prev. Close: 338.50
3IN Live PriceLast checked at -
3i Infrastructure is an Investment Trust

To build a diversified portfolio of equity investments in entities owning infrastructure businesses and assets by seeking investment opportunities globally, but with a focus on Europe, North America and Asia.

Find out More

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

3i Infrastructure ends third quarter slightly ahead of expectations

Fri, 26th Jan 2024 07:23

(Sharecast News) - Infrastructure investor 3i Infrastructure reported total income and non-income cash of £49m at the end of its third quarter on Friday, slightly ahead of expectations.

The FTSE 250 company said it was on track to deliver its 2024 financial year dividend target of 11.9p per share, representing a 6.7% increase from 2023, which was expected to be fully covered by net income.

As of 31 December, the firm had drawn €640m (£555m) from its £900m revolving credit facility, and held a cash balance of £75m.

The net debt position stood at £480m, which was subsequently reduced by a £55m payment for the interim dividend in January.

One of the major highlights in the quarter was the successful sale of its 25% stake in Attero in November, which yielded net sale proceeds of €214m, representing a significant 31% increase in valuation.

The funds were used to partially repay the company's revolving credit facility.

It said its portfolio continued to perform well, as TCR exceeded earnings expectations and expanded its global presence with significant commercial project wins.

In a notable development, TCR signed an agreement in January 2024 to acquire KLM Royal Dutch Airlines' equipment services subsidiary, KES.

ESVAGT, another portfolio company, reported high utilisation rates and day rates across all segments.

In January, ESVAGT secured a new 15-year contract with Vestas for an additional service operation vessel in the North Sea, further strengthening its position.

ESVAGT's total contract backlog now exceeded €1.5bn, with a substantial portion related to offshore wind projects.

3i Infrastructure said its investment in Future Biogas continued to grow, with an additional £30m investment to acquire two anaerobic digestion plants.

Future Biogas also secured £40m of undrawn debt facilities to support future expansion.

Tampnet meanwhile maintained a strong performance, focusing on new installations and digitisation projects in the North Sea and the Gulf of Mexico.

The company's carrier infrastructure project, Norfest, was now ready for service and aimed to provide unique fibre access to the Norwegian data centre market.

Valorem experienced robust electricity generation, exceeding expectations.

The company successfully completed the sale of a minority stake in its French operational portfolio, reflecting the strong demand for its projects and raising capital for future wind and solar projects.

3i Infrastructure also said that DNS:NET's management team, led by the new CEO, was finalising its revised rollout plan, with further updates expected at the full-year results announcement.

"Building on a strong first-half of the financial year, we are pleased to report that performance continues to be ahead of our expectations," said Scott Moseley and Bernardo Sottomayor, managing partners and co-heads of European infrastructure at the company's investment manager, 3i Investments.

"As such, we anticipate exceeding our target return for the year once again.

"Our strategy remains consistent as we prioritise supporting the growth of our existing portfolio companies where we are seeing a number of attractive opportunities, and we will apply proceeds from any divestments to reduce outstanding balances on 3iN's revolving credit facility."

At 0854 GMT, shares in 3i Infrastructure were down 0.39% at 320.75p.

Reporting by Josh White for Sharecast.com.

More News
10 May 2022 09:48

3i Infrastructure ups payout and tops yearly total return target again

(Alliance News) - 3i Infrastructure PLC on Tuesday reported a rise in annual net assets and upped its payout.

Read more
10 May 2022 09:03

3i Infrastructure FY return ahead of target, pre-tax profit rises

(Sharecast News) - 3i Infrastructure said on Tuesday that it achieved a full-year return well ahead of its target as it posted a jump in pre-tax profit.

Read more
31 Mar 2022 09:45

3i Infrastructure profits from investments; White leaves manager role

(Alliance News) - 3i Infrastructure PLC on Thursday said it has performed well in the past six months, citing "attractive prices" received from two sets of investment realisations.

Read more
31 Mar 2022 09:38

3i Infrastructure portfolio performing mostly ahead of expectations

(Sharecast News) - Infrastructure investor 3i Infrastructure reported "strong level" of investment in new platforms and existing portfolio companies in an update on Thursday, with its portfolio delivering strong operational and financial performance over the last six months.

Read more
1 Feb 2022 22:07

TRADING UPDATES: BP signs biofuel deal; Elixirr expects revenue beat

TRADING UPDATES: BP signs biofuel deal; Elixirr expects revenue beat

Read more
1 Feb 2022 10:46

3i Infrastructure records total income in line with expectations

3i Infrastructure records total income in line with expectations

Read more
1 Feb 2022 07:11

3i Infrastructure on track to pay target dividend

(Sharecast News) - 3i Infrastructure said income in the third quarter was as expected and it was on track to pay its target annual dividend.

Read more
16 Dec 2021 11:56

3i Infrastructure raises stake in Valorem with further investment

3i Infrastructure raises stake in Valorem with further investment

Read more
16 Dec 2021 08:12

3i Infrastructure raises stake in France's VALOREM

(Sharecast News) - Investment firm 3i Infrastructure has agreed to invest a further €25.0m into French renewable power outfit VALOREM through a capital increase in order to fund its growth, raising the company's stake in the Bègles-based company to roughly 33%.

Read more
6 Dec 2021 09:46

3i Infrastructure invests GBP191 million in SRL Traffic Systems

3i Infrastructure invests GBP191 million in SRL Traffic Systems

Read more
6 Dec 2021 07:26

3i Infra buys 92% stake in SRL Traffic Systems for £191m

(Sharecast News) - 3i Infrastructure has bought a 92% stake in equipment rental company SRL Traffic Systems for £191m.

Read more
3 Dec 2021 15:50

3i Infrastructure to secure full control of vessel firm Esvagt

3i Infrastructure to secure full control of vessel firm Esvagt

Read more
3 Dec 2021 12:03

3i Infrastructure buys AMP Capital out of offshore service firm Esvagt

(Sharecast News) - 3i Infrastructure has agreed to acquire the stake in Esvagt owned by its co-investor AMP Capital, it announced on Friday, resulting in it holding 100% of Esvagt.

Read more
17 Nov 2021 19:36

TRADING UPDATES: 3i Infrastructure opens USD512 million investment

TRADING UPDATES: 3i Infrastructure opens USD512 million investment

Read more
11 Nov 2021 10:19

TOP NEWS: 3i Group shares rise on strong interim results, payout hike

TOP NEWS: 3i Group shares rise on strong interim results, payout hike

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.