3I INFRASTRUCTURE PLC - Full Year Results

3i Infrastructure plc delivered a resilient full-year investor update, reporting continued strong company performance and reaffirming its long-term growth strategy focused on core-plus infrastructure investments. The FTSE-listed infrastructure investor achieved an 8.5% total return for the year ended March 2026, extending its track record of meeting or exceeding its 8–10% annual return target for more than a decade. Net asset value (NAV) reached 405.2p per share, while the company increased its dividend target to 14.3p for FY2027, reflecting confidence in cash flow generation and earnings visibility. During the year, 3i Infrastructure completed the sale of airport equipment specialist TCR, generating a 20% IRR and a 3.6x money multiple, highlighting the strength of its value creation and exit strategy. The group also expanded its portfolio through bolt-on acquisitions and a major new investment in the Lefdal Mine Data Center campus in Norway, a highly energy-efficient digital infrastructure asset benefiting from long-term contracted revenue and renewable power exposure. Despite challenges at German fibre business DNS:NET, which resulted in a full equity write-down, portfolio diversification and strong EBITDA margins across core assets supported overall financial results. The company invested over £400 million in growth capex across its portfolio, driving 11% earnings growth and maintaining robust liquidity, with pro forma net cash expected following recent disposals. Management emphasized continued focus on infrastructure megatrends including energy transition, digitalization, and essential infrastructure renewal, positioning the portfolio for long-term revenue growth, cash generation, and shareholder returns.