3i Infrastructure Q3 total income down, flags potential DNS:NET write off

(Sharecast News) - Investment firm 3i Infrastructure said on Monday that total income and non‑income cash for the three months ended 31 December came in at £53m, down from £58m a year earlier, as it flagged a likely £212m write off of its position in DNS:NET. 3i Infrastructure stated DNS:NET traded in line with expectations operationally, but warned that a sharp deterioration in financing conditions for German fibre roll‑out businesses had forced a reassessment of the investment case. With debt markets effectively closed, it now expects to write down the value of its equity stake to zero at the March 2026 year‑end.

The FTSE 250-listed firm also highlighted a series of operational developments across its portfolio, including ESVAGT's delivery of the world's first dual‑fuel service operations vessel capable of running on e‑methanol, which will support the Hornsea 2 wind farm, and the completion of its acquisition of two SOVs from Edda Wind under long‑term contracts with Vestas and Ocean Breeze.

Joulz signed agreements to acquire two businesses, with completion expected in the first quarter of 2026, which 3i said will lift underlying earnings by around 70%, while TCR continued to perform well, securing new contracts and expanding its revolving credit facility by €100m in December to support growth.

3i added that portfolio business SRL had continued to face challenges flagged at the time of its interim results, while the rest of its portfolio performed broadly in line with or ahead of expectations.

Looking ahead, 3i maintained its FY26 dividend target of 13.45p per share

As of 0830 GMT, 3i shares were down 6.43% at 349p.

Reporting by Iain Gilbert at Sharecast.com