Prosus achieves record revenue growth amid strong market performance
- Prosus N.V. reported a significant increase in revenues for the first half of fiscal year 2025, reaching US$3.0 billion.
- The company showcased a turnaround in adjusted EBIT, achieving US$60 million compared to a loss of US$110 million the previous year.
- With a strong focus on AI, Prosus is positioned to capitalize on growth opportunities, aiming to reach US$100 billion in value.
On December 2, 2024, in Amsterdam, Prosus N.V. announced its financial results for the first half of the fiscal year 2025. The company showcased a robust performance, achieving revenues of US$3.0 billion, up from US$2.5 billion in the previous year, representing a significant year-over-year growth of 26%. Additionally, the company reported an impressive turnaround in adjusted EBIT, moving to US$60 million from a loss of US$110 million the previous year. This notable performance aligns with Prosus's strategic focus on enhancing its e-commerce portfolio, which also saw substantial revenue increases across various sectors, such as food delivery and fintech. The e-commerce segment displayed strong resilience with revenues climbing to US$3.0 billion, and adjusted EBITDA rose dramatically to US$229 million from US$14 million the year prior. A particularly noteworthy highlight from the report is the performance of iFood, which achieved record profits with an adjusted EBIT of US$98 million, marking an astonishing increase of 387%. This reflects the growing demand for online food delivery and the company's effective business strategies. Furthermore, Prosus's focus on artificial intelligence and its commitment to leveraging this technology for growth has been emphasized by Ervin Tu, President and CIO of Prosus and Naspers. The company is optimistic about the potential AI holds for enhancing customer engagement and its overall growth trajectory. The confidence in AI as a transformative tool illustrates Prosus's forward-thinking approach as it contemplates its next steps towards achieving US$100 billion in value. As the company prepares for future growth, it has announced a transition in financial leadership, with Nico Marais stepping into the role of Interim Chief Financial Officer. This leadership change indicates Prosus's commitment to aligning its financial strategies with its ambitious growth targets. Prosus and Naspers have leveraged their strong balance sheet to explore new opportunities, reflecting their strategic vision in dynamically changing market conditions. Overall, the strong performance and strategic direction of Prosus suggest a promising future as it navigates the competitive landscape of the technology and e-commerce sectors.