Dutch technology investor Prosus NV (XAMS-PRX) disclosed that its core headline earnings for the full year reached $7.4 billion, marking a 47% increase compared to the previous year and surpassing its financial goals, thanks to its growth in lifestyle e-commerce.
According to the company, e-commerce sales saw a 21% rise, totaling $6.2 billion, driven by advancements in artificial intelligence and other innovations, as it continued to extend its presence in regions like Latin America, Europe, and India.
Prosus, which is under the ownership of Naspers, a South African tech investor, is transforming itself from an investment firm into a lifestyle technology enterprise. This strategic change was emphasized by BofA in a note before the earnings announcement, as it could enhance financial returns and alter its investment outlook.
“We are progressing well with our acquisition of Just Eat Takeaway.com, which will lead to the establishment of a new AI-focused tech leader in Europe,” stated CEO Fabricio Bloisi.
In late February, Prosus revealed plans to acquire Just Eat Takeaway for 4.1 billion euros ($4.72 billion), with the goal of forming a dominant tech entity in Europe. For the first time ever, Prosus reported a positive free cash flow, excluding the dividend received from its stake in Tencent, increasing to $36 million from a negative $235 million in the prior financial year.
“Our expectations are that this positive trend will persist, aiming for an increase in adjusted EBIT by at least the same level by the end of 2026,” declared Chief Financial Officer Nico Marais in a statement.
