Naspers unit Prosus has exceeded its earnings target for its e-commerce portfolio for the 2025 financial year, and is expecting to report more than $435 million for the year, when its year-end results are announced in June.
In an update to shareholders today, Prosus and Naspers CEO Fabricio Bloisi, who is 10 months into the role, says Prosus’s 2025 financial year has closed and the company has completed its strategic planning and started the 2026 financial year.
Over the past year, it has made good progress in its e-commerce business, the acquisition of two companies and implementing the “Prosus Way” strategy, which focuses on entrepreneurship, results, innovation, people and impact, he notes.
“In October, I set a goal of delivering $400 million in adjusted earnings before interest and taxes (aEBIT) for our e-commerce portfolio in FY 2025. I am very happy to say we have exceeded our goal and will report more than $435 million for the year. For FY 2026, I want to achieve at least the same level of incremental aEBIT.
“We are on our way, building a lifestyle e-commerce company in Europe, India and Latin America. We will announce our full results in June and you will see that Prosus continues to grow revenue and profitability strongly.”
According to Bloisi, Prosus’s e-commerce businesses − OLX, Swiggy and iFood − have delivered good results and he will provide more future-related plans next month.
Classifieds business OLX has grown its revenue to close to 20%, while iFood has already delivered over 120 million orders in a month and continues to grow its credit and payments business, he notes.
“OLX’s aEBIT increased by over 50% this year, to about $270 million, and we believe the runway for further growth is long and that the business’s performance will only continue to improve. iFood grew its aEBIT by more than 100% this year, to more than $200 million, and I expect further significant improvement next year. Its subscription product, Clube, is already delivering over 40 million orders per month with increased frequency and retention.”
In late 2024, Indian online food ordering and delivery company Swiggy achieved a milestone by going public, he adds.
With roots in SA, Prosus says it is a global consumer internet group and one of the largest technology investors and operators in the world.
It recently invested in Rapido, which is growing more than 100% year-on-year in ride-hailing, with more than three million rides per day.
The acquisition of two companies − online travel agency Despegar and JustEatTakeaway − will see Prosus strengthen its ecosystems in Latin America and Europe.
“I am very excited to bring both companies into Prosus. The team is working hard on the regulatory approvals to close the transactions as soon as possible. Rather than invest in many new things, my clear priority now is to bring both companies into Prosus and grow them strongly,” comments Bloisi.
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