Prosus core earnings leap 84% as all regions post profit
Prosus Reports Strong Financial Performance Across All Regions
June 29 (Reuters) - Dutch digital services operator Prosus reported an 84% leap in full-year adjusted core profit on Monday, with its consumer platforms profitable across all regions for the first time.
Financial Highlights
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) across its digital services and e-commerce portfolio rose 84% to $1.3 billion (€1.14 billion) on revenue up 57% at $9.7 billion.
Transformation and Business Expansion
Majority owned by South Africa's Naspers , Prosus is the biggest shareholder in Chinese technology conglomerate Tencent but has spent the past two years transforming from a passive investment holding company into an operator of consumer digital services spanning food delivery, travel and fintech across Europe, Latin America and India.
Cash Flow and Dividend Growth
Prosus posted record free cash flow of $1.5 billion, up from $1 billion a year earlier, and raised its full-year dividend by 40% to 28 euro cents per share.
Regional Performance Breakdown
European Food Delivery
Its European food delivery platform Just Eat Takeaway.com, acquired for €4.1 billion ($4.7 billion) last year, contributed $1.9 billion in revenue and $83 million in adjusted EBITDA.
Latin American and European Marketplaces
Latin America: iFood
The company's Latin American food delivery platform iFood grew adjusted EBITDA by 178% to $400 million while European online marketplace OLX's adjusted EBITDA rose 61% to $481 million.
Europe: OLX
(1 euro = $1.1392)
($1 = 0.8775 euros)
Reporting Credits
(Reporting by Leo Marchandon in GdanskEditing by David Goodman)
