PARIS & LONDON & NEW YORK--(BUSINESS WIRE)--September 09, 2026--
Regulatory News:
Antin Infrastructure Partners (Paris:ANTIN):
On an underlying basis
----------------------------------
(EURm, unless otherwise indicated) 1H 2026 1H 2025 % change
------------------------------------------ ---------- --------- -----------
AUM, in EURbn 33.3 33.0 +0.8%
Fee-Paying AUM, in EURbn 21.2 21.8 -2.9%
------------------------------------------ ---------- --------- -----------
Revenue 138.5 145.1 -4.5%
EBITDA 69.9 79.7 -12.3%
EBITDA margin 50% 55% -5pp
Net income 47.0 55.2 -15.0%
EPS, in EUR 0.26 0.31 -14.9%
The underlying income statement for 1H 2025 has been restated to reflect the
change in accounting methodology regarding administrative fees that was
implemented at the end of 2025. A reconciliation is available on page 7.
HIGHLIGHTS
-- Significant progress on realisations, with two exits signed over the
summer, delivering a Gross Multiple at or above target and considerably
increasing distributions to fund investors
-- Sustained deployment across all three strategies, following a record
level of capital invested in 2H 2025, totalling EUR2.5bn over the last
twelve months, delivering diversification and differentiation to fund
investors
-- Sound overall portfolio performance, with main funds in value creation
mode generating performance(1) around or above 15% over the last twelve
months
-- New fundraising cycle launched, starting with Mid Cap II
-- Resilient financial performance at the start of a new fundraising cycle,
with the impact of Mid Cap I step-down yet to be offset by the activation
of its successor fund
-- Interim dividend of EUR0.28 per share; full-year 2026 distribution
expected to remain stable at EUR0.71 per share(2)
ALAIN RAUSCHER, Chairman and CEO, said:
"Since the beginning of the year, we have made strong progress across a number of exit processes and, over the summer, signed significant realisations. As we enter a new fundraising cycle, this acceleration in distributions, combined with the strong long-term tailwinds supporting infrastructure, underpins our next growth chapter. We have also maintained solid investment momentum across our three strategies.
Our financial performance has remained resilient, pending the activation of our next vintages, reflecting the strength of our model.
In a complex and rapidly evolving market environment, we have stayed true to our core: a disciplined investment approach focused on long-term value creation and attractive risk-adjusted investment returns for our clients."
ACTIVITY UPDATE
ASSETS UNDER MANAGEMENT
-- Total AUM increased to EUR33.3bn as of 30 June 2026, up EUR0.3bn or
0.8% year-on-year. In the absence of new fund closes during the period,
the increase was mainly driven by EUR0.5bn of value creation and EUR0.4bn
of co-investment raised, partly offset by EUR0.6bn of distributions to
investors in Flagship III & IV, Fund III-B, and NextGen
-- Fee-Paying AUM stood at EUR21.2bn as of 30 June 2026, down EUR0.6bn or
2.9% year-on-year. This mainly reflects Mid Cap I's move to the
post-investment period on 2 April, following the signing of the fund's
final investment, resulting in a EUR0.9bn step-down as the fund is now
charging fees on invested capital. The decrease was partially offset by
capital deployment in Flagship III, Fund III-B and Flagship IV over the
last twelve months to support value creation plans
INVESTMENT ACTIVITY
-- Capital deployment by the funds remained strong in 1H 2026, following a
record level of capital invested in 2H 2025, totalling EUR2.5bn in the
last twelve months. Through its new investments, Antin targets a
diversified and differentiated exposure for its clients across
geographies, sectors and underlying themes
-- Three investments were signed in 1H 2026:
-- Sapphire Gas Solutions (Flagship V's eighth portfolio company) -
a vertically integrated provider of compressed natural gas and
liquefied natural gas solutions in the United States
-- Belambra (Mid Cap I's ninth and final portfolio company) - a
leading French owner and operator of leisure infrastructure
-- NextGen I signed an eighth investment, which will be disclosed
at closing
-- As a result, committed capital as of 30 June 2026 increased as follows:
Flagship V to 58% (from 53% on 31 December 2025), Mid Cap I to 80% (from
72%), and NextGen I to 66% (from 62%)
EXIT ACTIVITY
-- Delivering liquidity to fund investors remains a top priority for
Antin
-- Several exit processes were underway over the period, two of which were
successfully signed over the summer at attractive valuations: the partial
realisation of Sølvtrans (Flagship III) and the full sale of Idex
(Flagship III / Fund III-B). These realisations were made at or above
2.0x Gross Multiple, demonstrating Antin's ability to deliver investment
performance for its fund investors
-- c.EUR600m was distributed to fund investors in the last twelve months.
An additional c.EUR2.1bn is expected to be distributed following the
closing of the exits announced this summer
FUND PERFORMANCE
-- Performance remained "on plan"(3) across the funds overall. Fund
valuations(4) were up +4.9% over the last twelve months, with main funds
in value creation mode (Flagship IV & V and Mid Cap I) generating a
performance around or above 15%
-- Evolution of Gross Multiples in 1H 2026:
-- Flagship IV & V increased by +0.1x in 1H 2026 to 1.5x and 1.3x
respectively
-- Mid Cap I and NextGen I were stable at 1.5x and 1.1x
respectively, with value creation offsetting the dilution
generated by the addition of new portfolio companies
-- Flagship III & Fund III-B each decreased by 0.2x to 1.7x and
1.4x respectively, due to a complex M&A environment and some
asset-specific developments. Fund III-B is currently trending
"below plan", with scope for improvement on its remaining
realisations
FUNDRAISING
-- Mid Cap II fundraising was launched in 1H 2026. Interest from a broad
and diversified group of fund investors has been strong. The activation
is expected in 4Q 2026, coinciding with the signing of the fund's first
investment
-- Antin hosted its Annual Fund Investor Day in York, UK, in May,
providing a valuable opportunity for direct engagement with a large
number of clients
INCOME STATEMENT ANALYSIS
REVENUE
-- Underlying revenue amounted to EUR138.5m, down 4.5% compared to 1H
2025, owing to a reduction in both management fees and carried interest
and investment income
-- Management fees totalled EUR139.3m, down 3.8% or EUR5.6m compared to 1H
2025. The decrease was mainly driven by the step-down of Mid Cap I
following the end of its investment period
-- Management fees from Flagship funds decreased by EUR1.7m
year-on-year mainly due to the non-recurrence of catch-up fees
recognised by Flagship V in 1H 2025
-- Management fees from Mid Cap I decreased by EUR3.8m year-on-year
following the step-down of the fund on 2 April 2026. The fund
moved to the post-investment period and started charging an annual
fee rate of c.1.2% on invested capital (rather than on committed
capital)
-- Management fees from NextGen I were stable year-on-year
-- The effective management fee rate(5) stood at 1.33% in 1H 2026,
broadly stable compared with 1H 2025
OPERATING EXPENSES
-- Underlying operating expenses amounted to EUR68.6m in 1H 2026, up 4.9%
compared with 1H 2025, reflecting selective investments in the platform
and cost discipline
-- Personnel expenses totalled EUR52.7m in 1H 2026, up 6.9%, mainly
reflecting selective hirings, as the number of employees excluding
Luxembourg grew modestly by 2.4%
-- Other operating expenses and taxes totalled EUR15.9m in 1H 2026,
down 1.2% year-on-year, as a result of increased efficiency
across the platform and enhanced cost discipline
EBITDA
-- Underlying EBITDA totalled EUR69.9m, down 12.3% year-on-year. Resilient
performance at the start of a new fundraising cycle, with the decrease in
EBITDA mainly driven by the Mid Cap I step-down, which is yet to be
offset by the activation of its successor fund. Underlying EBITDA margin
also showed resilience at 50%, down five percentage points compared to 1H
2025
-- As the activation of Mid Cap II is now expected in 4Q 2026,
underlying EBITDA for 2026 is currently projected to be slightly
below the 2025 level
-- Reported EBITDA also stood at EUR69.9m in 1H 2026 (vs. EUR80.8m in 1H
2025). A reconciliation between reported and underlying EBITDA is
available on page 7
NET INCOME
-- Depreciation & amortisation stood at EUR8.9m in 1H 2026, up 2.9%
year-on-year
-- The contribution of underlying net financial income and expenses was
positive at EUR2.7m in 1H 2026, down 21.2% year-on-year. This decrease
reflects slightly lower cash balances and lower interest income following
rate cuts
-- Underlying income tax totalled EUR16.7m in 1H 2026. The effective tax
rate was stable year-on-year at 26%
-- Underlying net income totalled EUR47.0m in 1H 2026, down 15.0%
year-on-year
-- Underlying Earnings Per Share (EPS) amounted to EUR0.26 per share in 1H
2026, down 14.9% versus 1H 2025, in line with the decrease in underlying
net income. The weighted average number of shares used in the EPS
calculation was 178,615,468
-- Reported net income amounted to EUR46.6m in 1H 2026 compared to
EUR51.9m in 1H 2025. A reconciliation between reported and underlying net
income is available on page 7
BALANCE SHEET AND COMMITMENTS
-- The balance sheet remained strong as of 30 June 2026, with EUR326.0m in
cash and cash equivalents, and no borrowings or financial liabilities.
This strong cash position will support the payment of dividends, Antin's
continued investment in its funds and carried interest vehicle, and the
Company's future growth
-- As of 30 June 2026, Antin's financial assets stood at EUR110.1m, of
which EUR91.1m were investments in Antin funds, held at fair value.
Antin's share of Carried Interest in Antin funds held at cost under
accrued income amounted to EUR17.4m at the end of 1H 2026
-- Antin's off-balance sheet commitments in relation to its co-investments
in the Antin funds and in Carried Interest totalled EUR94.8m as of 30
June 2026. This uncalled capital included EUR80.0m related to
co-investments in Antin funds and EUR14.8m related to investments in the
Carried Interest vehicles
DISTRIBUTION TO SHAREHOLDERS
-- The Board of Directors of Antin, meeting on 8 September 2026, approved
the distribution of an interim dividend of EUR0.28 per share,
representing a total distribution of EUR50.2m
-- The interim dividend will be paid in cash out of distributable
income. The ex-dividend date is 20 October 2026 and the dividend
payment will take place on 22 October 2026
-- Full-year distribution for 2026 expected to be stable compared to 2025,
at EUR0.71 per share
GOVERNANCE
-- At Antin's Annual Shareholders' Meeting on 10 June 2026, all
resolutions were adopted. Ramon de Oliveira was re-appointed as
Independent Director for a period of two years. He continues his duties
within the Board committees of which he is a member
POST-CLOSING EVENTS
-- On 29 July 2026, Flagship III announced the sale of c.30% of
Sølvtrans, a world-leading wellboat operator headquartered in Norway,
to GLIL Infrastructure. This partial realisation will provide liquidity
to Flagship III investors
-- On 31 July 2026, Antin partially unwound the Total Return Swap
agreement
-- On 5 August 2026, Flagship III and Fund III-B announced the entry into
exclusive negotiations with the Infrastructure Investments Fund for the
full sale of Idex, a leading energy platform operating 60 district
heating and cooling networks, 32 energy production plants and 13
energy-from-waste plants, across France, Italy, Belgium and Lithuania
TODAY'S CONFERENCE CALL
-- Antin's management will hold a conference call to present the half-year
2026 earnings today at 10:00 am CEST (9:00 am BST)
-- Please visit Antin's shareholder website
https://antin-ip.com/shareholders/ to listen to the conference call or
click here. A replay will also be available after the event
The condensed consolidated financial statements for the first half of 2026 that were subject to a limited review by the Statutory Auditors were adopted by the Board of Directors at its meeting on 8 September 2026. An unqualified review report has been issued by the Statutory Auditors. The condensed consolidated financial statements, a presentation of the half-year 2026 results, and the related conference call (live and replay) are available at https://antin-ip.com/shareholders/
CONSOLIDATED FINANCIAL STATEMENTS
Change in accounting method at the end of 2025 and restatement of 1H 2025 underlying figures: the revenues and costs related to fund administration services are now aggregated in the revenue line, amounting to a net zero. EBITDA is unaffected. Reported figures and a reconciliation are available on page 7. ------------------------------------------------------------------------------
INCOME STATEMENT ON AN UNDERLYING BASIS
(EURm) 1H 2026 1H 2025 ------------------------------------------- ----------- ----------- Management fees 139.3 144.8 Carried interest and investment income (0.8) 0.2 Administrative fees and other revenue net - - TOTAL REVENUE 138.5 145.1 ------------------------------------------- ----------- ----------- Personnel expenses (52.7) (49.3) Other operating expenses & tax (15.9) (16.1) TOTAL OPERATING EXPENSES (68.6) (65.4) ------------------------------------------- ----------- ----------- EBITDA 69.9 79.7 ------------------------------------------- ----------- ----------- % margin 50% 55% Depreciation and amortisation (8.9) (8.7) EBIT 61.0 71.1 ------------------------------------------- ----------- ----------- Net financial income and expenses 2.7 3.4 PROFIT BEFORE INCOME TAX 63.7 74.5 ------------------------------------------- ----------- ----------- Income tax (16.7) (19.2) % income tax 26% 26% NET INCOME 47.0 55.2 ------------------------------------------- ----------- ----------- % margin 34% 38% ------------------------------------------- ----------- ----------- Earnings per share (EUR) 0.26 0.31 ------------------------------------------- ----------- ----------- Weighted average number of shares 178,615,468 178,741,729 ------------------------------------------- ----------- -----------
INCOME STATEMENT: BREAKDOWN OF UNDERLYING REVENUE
(in EURm) 1H 2026 1H 2025
---------------------------------------- ------- -------
Flagship Fund III 13.7 13.1
Flagship Fund IV 30.9 32.4
Flagship Fund V 70.9 71.8
of which catch-up fees - 0.9
Fund III-B 2.8 2.7
Mid Cap Fund I 12.2 16.0
Next Gen Fund I 8.9 8.9
---------------------------------------- ------- -------
MANAGEMENT FEES 139.3 144.8
---------------------------------------- ------- -------
Carried interest income 0.0 0.1
Investment income (0.8) 0.2
---------------------------------------- ------- -------
CARRIED INTEREST AND INVESTMENT INCOME (0.8) 0.2
---------------------------------------- ------- -------
REVENUE 138.5 145.1
---------------------------------------- ------- -------
INCOME STATEMENT: RECONCILIATION FROM UNDERLYING TO IFRS
FOR 1H 2026
(EURm, 1H 2026) Underlying basis Non-recurring items IFRS basis --------------------------- ---------------- ------------------- ---------- Management fees 139.3 - 139.3 Carried interest and investment income (0.8) - (0.8) TOTAL REVENUE 138.5 - 138.5 --------------------------- ---------------- ------------------- ---------- Personnel expenses (52.7) - (52.7) Other operating expenses & tax (15.9) - (15.9) TOTAL OPERATING EXPENSES (68.6) - (68.6) --------------------------- ---------------- ------------------- ---------- EBITDA 69.9 - 69.9 --------------------------- ---------------- ------------------- ---------- Depreciation and amortisation (8.9) - (8.9) EBIT 61.0 - 61.0 --------------------------- ---------------- ------------------- ---------- Net financial income and expenses 2.7 (0.5) 2.2 PROFIT BEFORE INCOME TAX 63.7 (0.5) 63.2 --------------------------- ---------------- ------------------- ---------- Income tax (16.7) 0.1 (16.6) NET INCOME 47.0 (0.3) 46.6 --------------------------- ---------------- ------------------- ----------
The differences between the IFRS accounting presentation and the underlying presentation of the Consolidated Income Statement relate to the following non-recurring items:
-- At the end of 2024, Antin entered into a Total Return Swap (TRS) with a
third-party bank. Antin recognised non-recurring financial expenses
related to the TRS of EUR0.5m and a proportional tax reduction of EUR0.1m
in 1H 2026
FOR 1H 2025
The underlying income statement of 1H 2025 has been restated to reflect the change in accounting methodology regarding administrative fees that was implemented at the end of 2025 and ensure comparability year-on-year
Underlying Administrative Non-recurring
(EURm, 1H 2025) basis fees items IFRS basis
----------------- --------------- -------------- -------------- ----------
Management fees 144.8 - - 144.8
Carried interest
and investment
income 0.2 - - 0.2
Administrative
fees and other
revenue net - 3.1 - 3.1
TOTAL REVENUE 145.1 3.1 - 148.2
----------------- --------------- -------------- -------------- ----------
Personnel
expenses (49.3) - 1.1 (48.1)
Other operating
expenses & tax (16.1) (3.1) - (19.2)
TOTAL OPERATING
EXPENSES (65.4) (3.1) 1.1 (67.3)
----------------- --------------- -------------- -------------- ----------
EBITDA 79.7 - 1.1 80.8
----------------- --------------- -------------- -------------- ----------
Depreciation and
amortisation (8.7) - - (8.7)
EBIT 71.1 - 1.1 72.2
----------------- --------------- -------------- -------------- ----------
Net financial
income and
expenses 3.4 - (2.4) 1.0
PROFIT BEFORE
INCOME TAX 74.5 - (1.3) 73.1
----------------- --------------- -------------- -------------- ----------
Income tax (19.2) - (2.0) (21.2)
NET INCOME 55.2 - (3.3) 51.9
----------------- --------------- -------------- -------------- ----------
BALANCE SHEET
(EURm) 30-Jun-26 31-Dec-2025 -------------------------------------------------- --------- ----------- Property, equipment and intangible assets 25.8 28.5 Right-of-use assets 48.3 51.7 Financial assets 110.1 97.5 Derivative financial assets 1.6 0.8 Deferred tax assets and other non-current assets 8.2 8.9 TOTAL NON-CURRENT ASSETS 194.0 187.4 -------------------------------------------------- --------- ----------- Cash and cash equivalents 326.0 367.9 Accrued income 17.4 14.9 Other current assets 29.9 29.7 TOTAL CURRENT ASSETS 373.3 412.5 -------------------------------------------------- --------- ----------- TOTAL ASSETS 567.2 599.9 -------------------------------------------------- --------- ----------- TOTAL EQUITY 459.8 476.5 -------------------------------------------------- --------- ----------- Borrowings and financial liabilities - - Lease liabilities 53.8 57.9 Other non-current liabilities 7.6 6.4 TOTAL NON-CURRENT LIABILITIES 61.3 64.3 -------------------------------------------------- --------- ----------- Borrowings and financial liabilities - - Lease liabilities 10.4 9.5 Income tax liabilities 0.0 0.0 Other current liabilities 35.6 49.6 TOTAL CURRENT LIABILITIES 46.1 59.1 -------------------------------------------------- --------- ----------- TOTAL EQUITY AND LIABILITIES 567.2 599.9 -------------------------------------------------- --------- -----------
CASH FLOW STATEMENT
(EURm) 1H 2026 1H 2025 ------------------------------------------------------------ ------- ------- NET CASH INFLOW / (OUTFLOW) RELATED TO OPERATING ACTIVITIES 38.2 48.4 Of which (increase) / decrease in working capital requirement (30.3) (49.3) ------------------------------------------------------------ ------- ------- NET CASH INFLOW / (OUTFLOW) RELATED TO INVESTING ACTIVITIES (13.7) (10.1) Of which purchase of property and equipment (0.4) (6.4) Of which investment in Antin funds (11.1) (2.1) Of which proceeds related to Antin funds - - Of which net change in other financial assets (2.2) (1.6) ------------------------------------------------------------ ------- ------- NET CASH INFLOW / (OUTFLOW) RELATED TO FINANCING ACTIVITIES (67.0) (65.2) Of which dividends paid (62.5) (66.1) Of which payment of lease liabilities (4.6) (1.3) Of which disposal / (repurchase) of treasury shares (2.5) (1.7) Of which net financial interest received and paid 2.6 3.9 ------------------------------------------------------------ ------- ------- NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS (42.5) (26.9) Cash and cash equivalents, beginning of period 367.9 388.9 Translation differences on cash and cash equivalents 0.5 (0.5) ------------------------------------------------------------ ------- ------- CASH AND CASH EQUIVALENTS, END OF PERIOD 326.0 361.5 ------------------------------------------------------------ ------- -------
APPENDIX
DEVELOPMENT OF FEE-PAYING AUM OVER THE LAST TWELVE MONTHS
(EURbn) Fee-Paying AUM Beginning of period, 30 June 2025 21.8 Gross inflows 0.2 Step-downs (0.9) Realisations - End of period, 30 June 2026 21.2 Change in % -2.9%
DEVELOPMENT OF FEE-PAYING AUM OVER THE LAST SIX MONTHS
(EURbn) Fee-Paying AUM Beginning of period, 31 December 2025 22.0 Gross inflows 0.1 Step-downs (0.9) Realisations - End of period, 30 June 2026 21.2 Change in % -3.6%
ACTIVITY REPORT
Jun-2026 Jun-2025
(EURbn) last twelve months last twelve months
AUM 33.3 33.0
Fee-Paying AUM 21.2 21.8
Fundraising - 0.8
Investments 2.5 0.7
Gross exits - 0.4
KEY STATS BY FUND
Fund
size AUM FPAUM Gross
Fund Vintage EURbn EURbn EURbn % Committed % Realised Multiple Expectation((6)
Flagship
Flagship
III (7) 2016 3.6 5.0 2.4 92% 43% 1.7x On plan
Flagship
IV 2019 6.5 10.9 5.2 87% 4% 1.5x On plan
Fund
III-B 2020 1.2 1.2 0.9 92% 31% 1.4x Below plan
Flagship
V 2022 10.2 12.3 10.2 58% 0% 1.3x On plan
Mid Cap
Mid Cap I 2021 2.2 2.5 1.3 80% 0% 1.5x On plan
NextGen
NextGen I 2021 1.2 1.4 1.2 66% 1% 1.1x On plan
(EURbn) COST OF INVESTMENTS VALUE OF INVESTMENTS
Fund
Fund Vintage size FPAUM Total Realised Remaining Total Realised Remaining
Flagship
Flagship
III (7) 2016 3.6 2.4 3.0 0.7 2.4 5.6 2.2 3.4
Flagship
IV 2019 6.5 5.2 5.2 - 5.2 7.8 0.3 7.5
Fund
III-B 2020 1.2 0.9 1.1 0.3 0.9 1.6 0.5 1.1
Flagship
V 2022 10.2 10.2 3.6 - 3.6 4.7 0.0 4.7
Mid Cap
Mid Cap I 2021 2.2 1.3 1.2 - 1.2 1.7 0.0 1.7
NextGen
NextGen I 2021 1.2 1.2 0.5 0.1 0.4 0.5 0.0 0.5
DEFINITIONS
Antin: Umbrella term for Antin Infrastructure Partners S.A.
Antin Funds: Investment vehicles managed by Antin Infrastructure Partners SAS or Antin Infrastructure Partners UK
Assets Under Management (AUM): Operational performance measure representing the assets managed by Antin from which it is entitled to receive management fees, undrawn commitments, the assets from co-investment vehicles which do not generate management fees or carried interest, and the net value appreciation on current investments
Carried Interest: A form of investment income that Antin and other carried interest investors are contractually entitled to receive directly or indirectly from the Antin Funds, which is inherently variable and fully dependent on the performance of the relevant Antin Fund(s) and its/their underlying investments
% Committed: Measures the share of a fund's total commitments that has been deployed. Calculated as the sum of (i) closed and/or signed investments (ii) any earn-outs and/or purchase price adjustments, (iii) funds approved by the Investment Committee for add-on transactions, (iv) less any expected syndication, as a % of a fund's committed capital at a given time
Committed Capital: The total amounts that fund investors agree to make available to a fund during a specified time period
Fee-Paying Assets Under Management (FPAUM): The portion of AUM from which Antin is entitled to receive management fees across all of the Antin Funds at a given time
Gross Exits: Value amount of realisation of investments through a sale or write-off of an investment made by an Antin Fund. Refers to signed realisations in a given period
Gross Inflow: New commitments through fundraising activities or increased investment in funds charging fees after the investment period
Gross Multiple: Calculated by dividing (i) the sum of (a) the total cash distributed to the Antin Fund from the portfolio company and (b) the total residual value (excluding provision for carried interest) of the Fund's investments by (ii) the capital invested by the Fund (including fees and expenses but excluding carried interest). Total residual value of an investment is defined as the fair market value together with any proceeds from the investment that have not yet been realised. Gross Multiple is used to evaluate the return on an Antin Fund in relation to the initial amount invested
Investments: Signed investments by an Antin Fund or by an affiliate of an Antin Fund
Realisations: Cost amount of realisation of investments through a sale or write-off of an investment made by an Antin Fund. Refers to signed realisations in a given period
% Realised: Measures the share of a fund's total value creation that has been realised. Calculated as realised value over the sum of realised value and remaining value at a given time
Realised Value / (Realised Cost): Value (cost) of an investment, or parts of an investment, that at the time has been realised
Remaining Value / (Remaining Costs): Value (cost) of an investment, or parts of an investment, currently owned by Antin Funds (including investments for which an exit has been announced but not yet completed)
Step-Downs: Normally resulting from the end of the investment period in an existing fund, or when a subsequent fund begins to invest
Underlying EBITDA: Earnings before interest, taxes, depreciation, and amortisation, excluding any non-recurring effects
Underlying Profit: Net profit excluding post-tax non-recurring effects
ABOUT ANTIN INFRASTRUCTURE PARTNERS
Antin Infrastructure Partners is a leading private equity firm focused on infrastructure. With over EUR33bn in Assets under Management across its Flagship, Mid Cap and NextGen investment strategies, Antin targets investments in the energy and environment, digital, transport and social infrastructure sectors. With offices in Paris, London, New York, Seoul, Melbourne and Luxembourg, Antin employs over 250 professionals dedicated to growing, improving and transforming infrastructure businesses while delivering long-term value to portfolio companies and investors. Majority owned by its partners, Antin is listed on compartment A of the regulated market of Euronext Paris (Ticker: ANTIN -- ISIN: FR0014005AL0)
https://www.antin-ip.com/shareholders
FINANCIAL CALENDAR 3Q 2026 Activity Update 5 November 2026 (1) Change in value between opening and closing balances, excluding any added or realised capital during the period (2) Subject to shareholder approval at the 2027 AGM (3) "On plan" refers to funds with an expected final Gross Multiple between 1.7x and 2.2x, at or above 2.2x funds are defined as "above plan" and below 1.7x funds are defined as "below plan" (4) Change in value between opening and closing balances, excluding any added or realised capital during the period (5) Excluding catch-up fees and management fees for Fund III-B (6) "On plan" refers to funds with an expected final Gross Multiple between 1.7x and 2.2x, at or above 2.2x funds are defined as "above plan" and below 1.7x funds are defined as "below plan" (7) % realised, cost and value of investments include the partial sale of portfolio companies from Flagship III to Fund III-B
View source version on businesswire.com: https://www.businesswire.com/news/home/20260908287607/en/
CONTACT: Shareholder Relations
Ludmilla Binet
Head of Shareholder Relations
Email:
shareholders@antin-ip.com
Media
Thomas Kamm
Partner - Head of Communications
Nicolle Graugnard
Communication Director
Email:
media@antin-ip.com
Brunswick
Email:
antinip@brunswickgroup.com
Tristan Roquet Montegon
+33 (0) 6 37 00 52 57