Improved total return of £89.1 million, or 8.6% on shareholders' equity, compared to
£56.0 million, or 5.6%, in 2012
9.3% increase in the dividend over the prior year, with a total dividend of 6.49p per share, or 5.5% on opening shareholders' equity, exceeding the 5% objective for the year
Strong portfolio income generation of £72.8 million, broadly in line with last year
Steady asset performance, with growth in EBITDA of underlying investments of 2.8% over the prior year
Updated financial objectives to a total return of 10% per annum, of which 5.5% to be delivered through dividends to shareholders
Peter Sedgwick, Chairman of 3i Infrastructure plc, said: "This was a successful year for 3i Infrastructure, which delivered a total return of 8.6% on shareholders' equity and strong portfolio income. Our investments in the European portfolio continued to perform in line with, or above, our expectations. The performance of the India Fund, however, continued to be affected by challenging conditions.
In its annual strategic update, the Board assessed the Company's investment strategy in light of the likely evolution of the portfolio in the current market. As a result of this review, we updated our return and dividend objectives to 10% and 5.5% respectively. We are confident that we have a strategy in place to deliver these objectives."
Cressida Hogg, Managing Partner, Infrastructure, 3i Investments plc, added: "Last year we continued to grow the value of our portfolio, crystallisingsome of this through the profitable sale of Alpha Schools. We are developing our investment pipeline, assessing a number of opportunities in our target areas of core and social infrastructure."