Dutch technology investor Prosus, a subsidiary of Naspers, said all its global iinternet businesses reached profitability in the year to March 31, 2026.
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Naspers subsidiary Prosus Group has reached a significant milestone by achieving profitability across all its ecosystems, while free cash flow — excluding its investment in China internet group Tencent — continues to grow.
Amsterdam-headquartered internet group Prosus announced in a trading statement on Friday that it had generated over $7,3 billion in revenue and $1,1bn in Ecosystem (formerly called Ecommerce) adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) for rhe year to March 31, 2026.
“We have completed our transformation from a traditional holding company into an active operator of AI-driven lifestyle ecosystems across Latin America, Europe, and India,” the group’s directors stated in the trading statement.
Core headline earnings per ordinary share N for continuing operations for the period are expected to increase between 19% and 28%. The board considers core headline earnings a useful indicator of the operating performance of the group, as it adjusts for non-operational items.
Headline earnings per share N for continuing operations were expected to rise between 6,7% and 15,7%.
The earnings growth was driven by strong revenue growth and profitability of the consolidated businesses, as well as equity accounted investments, most notably Tencent.
Earnings per ordinary share N for continuing operations is expected to range between -2,6% and 6,4%. This is mainly driven by the group's improved overall profitability across consolidated businesses in Latin America, Europe, and India, as well as stronger equity account results, primarily from Tencent.
This growth was offset by a lower gain from the sale of Tencent shareholding — reflecting fewer shares sold in the period — and increased unrealised foreign currency losses on the translation of the euro-denominated bonds to the group's US dollar reporting currency.
The annual results are expected to be released on June 29, 2026. The financial results of Prosus almost completely account for Naspers's results.
Naspers said its core headline earnings per share for continuing operations for the period are expected to increase between 20,8% and 27,8% from 364 cents the previous year. Headline earnings per share for continuing operations will rise between 8,3% and 15,3%.
Naspers completed a five-for-one share split in October 2025. The prior periods have been adjusted to enable comparability for earnings and diluted earnings per share.
In May, Prosus announced it was stepping up its investment in the Brazilian food delivery business iFood, which it said would reduce near-term profitability. Prosus’s target is to double its revenue to $12,5bn by 2028.
Prosus’s share price traded 0,04% lower at R740,65 on the JSE on Friday morning after the release of the trading statement, a price that was 22,3% lower than a year before.
Naspers’s share price was 0,23% lower at R843,04 on the JSE on Friday morning, a price that was 19,5% below the price a year before.
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