Prosus, a global consumer internet group and technology investor, has reported strong progress in achieving its strategic objectives and is on track to achieve its profitability target. The company has seen sustained revenue growth across its core segments, outperforming its sector peers and delivering high growth. It has also taken significant steps to drive profitability, including streamlining operations and reducing costs. The ongoing open-ended buyback program has created significant value for shareholders. Prosus has increased confidence in achieving its profit ambition for the first half of 2025. The company’s balance sheet remains strong, providing a strategic advantage.

In terms of performance, Prosus has seen robust growth and strong execution across its Ecommerce portfolio. The group reported strong revenue growth of 36% across its four core segments, including Food Delivery, Classifieds, Payments and Fintech, and Edtech. However, core headline earnings reduced by 9% due to lower contribution from associates. The open-ended buyback program has unlocked $29 billion in shareholder value since its launch.

Prosus has also announced plans to simplify its ownership structure by removing the cross-holding between Naspers and Prosus. This will allow the share repurchase program to continue and provide greater flexibility for shareholders. The transaction will be effected by both Naspers and Prosus issuing capital in their own stocks to existing shareholders.

Basil Sgourdos, Group CFO of Prosus and Naspers, commented on the company’s performance, highlighting the strong momentum and commitment to delivering value for shareholders. Prosus’s Ecommerce businesses are scaling at pace, with sustained revenue growth well ahead of its peers. The company has reached a turning point in profitability, with several core businesses becoming profitable. Prosus’s strengthened balance sheet, liquidity, and improving free cash flow enable it to continue investing in high-growth opportunities.

Prosus has made significant progress in achieving its strategic objectives and is well-positioned for long-term value creation. The company’s strong performance across its core segments, open-ended buyback program, and simplified ownership structure highlight its commitment to delivering value for shareholders.