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22 July 2021 3i Group plc FY2022 Q1 performance update si A strong start to FY2022 Increase in NAV per share to 1,063 pence ( 31 March 2021 : 947 pence ) and total return of 12.2 % for the three months to 30 June 2021 ● Another strong quarter from the Private Equity portfolio with notable contributions from Action , AES , Basic - Fit , BoConcept , GartenHaus , Luqom , Q Holding , Royal Sanders , SaniSure and Tato A powerful performance from Action in the quarter with very good sales and EBITDA growth . EBITDA for the quarter was € 205 million , 107 % above 2020 and 67 % above 2019. Sales for the quarter were € 1,688 million , 52 % above 2020 and 39 % above 2019 Received £ 84 million of refinancing proceeds from Royal Sanders and completed one bolt - on acquisition for Luqom with no further investment from 3i 3i Infrastructure plc ( " 3iN " ) completed its investment in DNS : NET and a bolt - on acquisition for Joulz , an existing portfolio company Both investment divisions remain active with a healthy pipeline of new investment opportunities , bolt - ons and refinancing and realisation transactions Simon Borrows , Chief Executive , commented : " 3i has made a strong start to its new financial year . Our investment portfolios in Private Equity and Infrastructure are well positioned for another year of good progress . Action's impressive performance continues , and the group is trading very well now that all stores have fully reopened . We are working on a number of investment and realisation opportunities across the investment teams , but we remain highly selective when deploying new capital in the current environment . " Private Equity Portfolio performance and valuation at 30 June 2021 The Private Equity portfolio generated a strong return for the quarter , including a marked step - up in Action's performance . Sales of € 1,688 million in the quarter were up 31 % from Q1 2021 , while EBITDA increased by 151 % over the same period . At the start of 2021 , Action was impacted by widespread store closures and restrictions . However , the business executed an impressive trading recovery through the end of its Q1 2021 and in Q2 2021. Like - for - like ( “ LFL " ) sales comparisons between 2020 and 2021 are difficult due to differing store closures and restrictions over the two periods . However , June ( P6 ) is the one period with all stores substantially open in both years : P6 , 2020 delivered 11 % LFL growth ; P6 , 2021 delivered 14.7 % LFL growth . Action opened 63 new stores in the quarter and continues to target c.300 new stores in 2021. Cash flow ha been strong with the group's cash balanc now over € 700 million .