Prosus reports 84% profit surge as all regional units turn profitable

Prosus reported an 84% surge in full-year adjusted EBITDA to $1.3 billion, with all regional ecosystems turning profitable for the first time.

"We are building an AI-powered Lifestyle Ecosystem that gets smarter with every interaction," Fabricio Bloisi, chief executive officer of Prosus and Naspers, said.

Revenue across the company's ecosystem rose 53% to $9.7 billion in the year ended March 31, driven by strong performances in Latin America, India, Europe and South Africa. The company generated a record $1.5 billion in free cash flow and returned $46 billion through buybacks, delivering 16 percentage points of net asset value accretion.

The results mark a turning point for the Amsterdam-listed tech investor, which has spent years integrating its food delivery, payments and classifieds businesses into a unified digital ecosystem. Chief Financial Officer Nico Marais said the company is deploying capital into iFood and Just Eat Takeaway.com to strengthen its food ecosystem while continuing its buyback program.

In Latin America, iFood revenue grew 40% to $400 million in adjusted EBITDA, while its fintech arm iFood Pago saw revenue surge 219% to $463 million and turned EBITDA-positive at $38 million. Travel platform Despegar, integrated with iFood, generated gross bookings of $5.9 billion and revenue of $804 million.

In India, payments business PayU turned EBITDA-positive for the first time at $18 million, processing $90 billion in total payment volume. Revenue rose 13% to $781 million.

European classifieds platform OLX delivered revenue of $992 million, up 28%, with adjusted EBITDA rising 53% to $481 million and margins expanding to 48%. Just Eat Takeaway.com, acquired in the prior year, contributed $1.9 billion in revenue and $83 million in adjusted EBITDA over the six-month post-acquisition period.

South Africa's Takealot Group surpassed $1 billion in revenue, up 18%, with gross merchandise value reaching $2 billion. The group posted its first full-year operating profit of $11 million, with adjusted EBITDA up 60% to $78 million.

The company also sold $2 billion in non-core assets during the year and launched ToqanClaw, its agentic AI platform now available to more than 5 million restaurant partners globally.

The across-the-board profitability milestone validates Prosus's strategy of building interconnected regional ecosystems rather than operating standalone businesses. Investors will watch for further margin expansion as the company scales its AI platform and deepens cross-selling between iFood, iFood Pago and Despegar in Latin America, and as the turnaround at Just Eat Takeaway.com progresses in Europe.

This article is for informational purposes only and does not constitute investment advice.