Prosus, the European-listed subsidiary of Naspers, has reported an 84% surge in full-year adjusted core profit. This milestone marks the first time the company’s consumer digital platforms have achieved simultaneous profitability across all operating regions.
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The company’s digital services and e-commerce portfolio delivered stellar growth across all key financial metrics:
- Core Earnings: Adjusted EBITDA jumped 84% to reach $1.3 billion.
- Top-Line Growth: Full-year revenue scaled up 57% to land at $9.7 billion.
- Liquidity & Dividends: Prosus generated a record $1.5 billion in free cash flow (up from $1 billion the previous year), prompting a 40% dividend increase to €0.28 per share.
While Prosus remains the largest shareholder in Chinese tech giant Tencent, these results highlight a successful two-year strategic pivot. The group has aggressively transitioned from a passive investment holding firm into an active operational heavyweight across global fintech, food delivery, and travel markets.
The path to global profitability was driven by massive operational turnarounds and major asset expansions across Europe, Latin America, and India:
- iFood (Latin America): The food delivery giant grew its adjusted EBITDA by an explosive 178%, contributing $400 million to the group’s core profits.
- OLX Marketplace (Europe): The online classifieds marketplace saw its adjusted EBITDA rise 61% to $481 million.
- Just Eat Takeaway.com (Europe): Acquired last year for €4.1 billion, the platform proved its strategic value by contributing $1.9 billion in revenue and $83 million in adjusted EBITDA.
The performance demonstrates that Prosus’s core e-commerce segments are no longer just expanding their footprints, but are successfully optimizing their cost structures to yield sustainable bottom-line returns.
