Prosus expects annual e-commerce profit to beat $400 million guidance

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JOHANNESBURG (Reuters) -Dutch technology investor Prosus NV expects adjusted profit at its e-commerce business to exceed its guidance and reach $435 million this fiscal year, Chief Executive Fabricio Bloisi said on Thursday.

Last year, Prosus, majority-owned by South Africa’s Naspers, estimated adjusted earnings before interest and taxes (aEBIT) of $400 million for its e-commerce business in the 2025 financial year, compared with a trading profit of $38 million in the 2024 fiscal year.

“I am very happy to say we have exceeded our goal and will report more than $435 million for the year. For financial year 2026, I want to achieve at least the same level of incremental aEBIT,” Bloisi said in a letter sent to shareholders on Thursday and published on the company’s website.

The group will report its full-year results in June.

Revenue at Prosus-owned OLX, one of the largest classifieds companies globally, grew by nearly 20% in the year ended March 31, “faster than its peers with room for significant margin expansion,” Bloisi said. OLX’s aEBIT increased by over 50% to about $270 million.

Meanwhile, Prosus’ Latin American food delivery platform iFood grew its aEBIT by more than 100% in the year to more than $200 million, he added.

In India, where its Swiggy investment listed last year, bringing in almost $2.4 billion for the group, Prosus recently invested in Rapido, which is growing more than 100% year-on-year in ride hailing and doing more than 3 million rides per day, he said.

Bloisi re-affirmed India’s status as one of the Dutch group’s global priority markets alongside Brazil and Southeast Asia.

“We have invested $8.6 billion in India, we have seen a very good return already, and we continue to see a lot of opportunity in the region,” Bloisi said.

(Reporting by Nqobile Dludla; Editing by Susan Fenton)