**Summary**
3i Infrastructure PLC released an amended Q3 performance update for the period from October 1, 2025, to January 30, 2026, highlighting key developments in its diversified infrastructure portfolio. The company reported strong overall performance, with notable achievements across several investments
**ESVAGT** expanded its fleet with the delivery of the world’s first dual-fuel Service Operations Vessel (SOV) and acquired two additional SOVs, supported by a €23 million investment from 3iN.
**Joulz** signed agreements to acquire two businesses, expected to increase EBITDA by 70% and expand its geographic and service capabilities, with 3iN contributing up to €107 million in equity.
**TCR** continued to perform well, securing new contracts and increasing its revolving credit facility by €100 million.
However, **DNSNET** faced significant challenges due to a worsening financing environment for German fibre roll-out businesses. The company expects to write down the value of its equity in DNS:NET to zero by March 2026, given the lack of available debt financing. This investment, previously valued at £212 million (5.6% of net asset value), is now considered a disappointing outlier.
Other portfolio companies, such as **SRL**, continued to face challenges, while the rest performed in line with or <mark style="background-color:yellow">above</mark> expectations. 3iN remains on track to meet its FY26 dividend target of 13.45 pence per share, covered by net income. The company’s balance sheet shows a net debt position of £500 million, with plans to repay the Revolving Credit Facility using proceeds from future realizations.
The Investment Manager hosted a Capital Markets Event in January 2026, providing updates on key portfolio companies, and remains focused on disciplined investment opportunities.
**Key Financial Highlights**
Total income and non-income cash for Q3 2025: £53 million.
FY26 dividend target13.45 pence per share (up 6.3% from FY25).
Net debt position as of January 302026: £500 million.
The update emphasizes 3iN’s commitment to responsible infrastructure investment, delivering sustainable returns, and positively influencing its portfolio companies.