Prosus expects annual e-commerce profit to beat $400 million guidance
FILE PHOTO: Prosus' logo is pictured on a smartphone in this illustration taken, December 4, 2021. REUTERS/Dado Ruvic/Illustration/File photo
JOHANNESBURG :Dutch technology investor Prosus NV expects adjusted profit at its e-commerce business to exceed its guidance and reach $435 million this fiscal year, Chief Executive Fabricio Bloisi said on Thursday.
Last year, Prosus, majority-owned by South Africa's Naspers, estimated adjusted earnings before interest and taxes (aEBIT) of $400 million for its e-commerce business in the 2025 financial year, compared with a trading profit of $38 million in the 2024 fiscal year.
"I am very happy to say we have exceeded our goal and will report more than $435 million for the year. For financial year 2026, I want to achieve at least the same level of incremental aEBIT," Bloisi said in a letter sent to shareholders on Thursday and published on the company's website.
The group will report its full-year results in June.
Revenue at Prosus-owned OLX, one of the largest classifieds companies globally, grew by nearly 20 per cent in the year ended March 31, "faster than its peers with room for significant margin expansion," Bloisi said. OLX’s aEBIT increased by over 50 per cent to about $270 million.
Meanwhile, Prosus' Latin American food delivery platform iFood grew its aEBIT by more than 100 per cent in the year to more than $200 million, he added.
In India, where its Swiggy investment listed last year, bringing in almost $2.4 billion for the group, Prosus recently invested in Rapido, which is growing more than 100 per cent year-on-year in ride hailing and doing more than 3 million rides per day, he said.
Bloisi re-affirmed India's status as one of the Dutch group's global priority markets alongside Brazil and Southeast Asia.
"We have invested $8.6 billion in India, we have seen a very good return already, and we continue to see a lot of opportunity in the region," Bloisi said.
