3i Group
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3i Group (III) investor relations material

3i Group Q3 2026 TU earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 TU earnings summary29 Jan, 2026

Executive summary

  • NAV per share rose to 3,017p at 31 Dec 2025, up from 2,857p at 30 Sep 2025, with a total return of 20% for the nine months to 31 Dec 2025, aided by a £766m FX gain.

  • Realised proceeds and dividends from the portfolio reached £1.8bn in the first nine months of FY2026, with £1.6bn invested.

  • Strong performance from key holdings, notably Action, Royal Sanders, and Audley Travel.

Financial highlights

  • Action generated net sales of €16bn and operating EBITDA of €2,367m in the 52 weeks to 28 Dec 2025, up 16% and 14% year-over-year.

  • Action's LFL sales growth was 4.9% (2024: 10.3%), with a 14.8% EBITDA margin; normalised margin was 15.0% after a €26m one-off staff payment.

  • Q4 2025 net sales for Action were €4,771m and EBITDA €805m, representing 30% and 34% of annual totals.

  • 3i Infrastructure plc's share price increased 3% in the quarter, closing at 374p.

  • Cash at 31 Dec 2025 was £995m, with net debt at £216m and gearing at 1%.

Outlook and guidance

  • Action's 2026 started strongly, with LFL sales growth of 6.1% in the first four weeks of January 2026.

  • Further details on Action's 2025 performance and 2026 guidance to be provided at the March 2026 Capital Markets Seminar.

  • Management expects another strong year of compounding growth.

Action France LFL sales recovery drivers
Action's increased leverage rationale
Rationale for 3i's increased Action stake
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Frequently asked questions

3i Group Plc is an investment company engaged in private equity and infrastructure investments. The company manages a diversified portfolio focused on mid-market businesses across Europe and North America. Its operations include investment sourcing, management, and exit strategies across various sectors. The company is headquartered in London, United Kingdom, and its shares are listed on the LSE.

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