3i Infrastructure PLCs pre-close update highlights strong performance, driven by the successful exit of TCR at a 50% premium, delivering a 19% annual return over 10 years. The company reinvested proceeds into the Lefdal Mine Datacenter, a high-quality, growth-oriented investment. Despite challenges like the DNS:NET write-down and SRLs underperformance, the portfolio is on track to meet full-year return targets, supported by earnings growth and resilient operations. Bolt-on acquisitions in Joulz, ESVAGT, and Future Biogas further strengthened the portfolio. The company maintains a balanced funding position, enabling strategic opportunities, and is set to deliver a 6.3% higher FY26 dividend. Overall, 3i Infrastructure demonstrates robust value creation and strategic portfolio management.
| Financial Metric | 2025 | 2026 | Change |
|---|---|---|---|
| TCR Valuation (pre-sale) | €760 million | €1,140 million | +50% |
| TCR Sale Proceeds | N/A | €1,140 million | New |
| LMD Investment | N/A | €300 million | New |
| NAV per Share (pence) | 407.9 | 396.8 | -2.7% |
| RCF Drawings (£ million) | N/A | £544 million | New |
| Net Debt Position (£ million) | N/A | £528 million | New |
| Pro-forma Net Cash (£ million) | N/A | £201 million | New |
| Dividend Target (pence per share) | 12.65 | 13.45 | +6.3% |
| Total Income and Non-Income Cash (£ million) | N/A | £87 million | New |