Half-year results 2009
"With our shareholders support, we have transformed our financial position. We remain cautious about the economy but confident in the strength of our portfolio and business model. 3i is ready for the upturn."
Michael Queen, Chief Executive
Commentary:
- Net debt reduced from £1.9 billion at 31 March 2009 to £854 million at 30 September 2009
- Gearing reduced from 103% at 31 March 2009 to 31% at 30 September 2009
- Realisations exceeded investment by £317 million during the period, further strengthening the balance sheet
- 33% of the opening non-core portfolio by value realised and sales agreed on a further 16%
during the period - Liquidity increased by £1.0 billion to £2.0 billion, providing greater capacity to invest in the upturn
For further information, please contact:
| Patrick Dunne Group Communications Director - 3i Group plc |
020 7975 3566 |
| Rachel Richards 3i Press Office |
020 7975 3573 |
| Maitland Consultancy Suzanne Bartch |
020 7379 5151 |
For further information regarding the announcement of 3i''s annual results to 30 September 2009, including a live videocast of the results presentation from 09:45am, please see http://www.3igroup.com/.
- Notes to editors
3i is a mid-market private equity business. We focus on buyouts, growth capital and infrastructure, investing across Europe, Asia and North America. Our competitive advantage comes from our international network and the strength and breadth of our relationships in business. These underpin the value that we deliver to our portfolio and to our shareholders.