Prosus Ecommerce Sees 70% Surge in Profitability Amid Rapid Ecosystem Expansion

Prosus is making significant strides in its ecosystem strategy, showcasing robust growth and synergistic outcomes across Latin America, Europe, and India. With disciplined execution underpinning our achievements, all of our operated businesses have reached profitability.

We remain on target to fulfill our guidance of US$1.1 billion in adjusted EBITDA for the current fiscal year.

Recent investments, particularly in Just Eat Takeaway.com (JET) and La Centrale, will further propel our expansion, with an objective to unlock approximately US$2 billion from our portfolio this year.

In an era marked by rapid technological transformations, fostering innovation serves as our paramount priority. We are establishing Europe’s premier AI lab, augmenting our capabilities with 20,000 AI agents that are enhancing our operations. We are steadfastly committed to an AI-centric approach as we execute our ecosystem strategy.

Fabricio Bloisi, CEO of Prosus and Napers, stated, “Our promises are being realized through exceptional execution, discipline, and integration—cultivating deeper customer engagement and unveiling new revenue streams.

In Latin America, iFood is significantly contributing to our online travel business, Decolar, while astute execution and strategic acquisitions are enhancing our foothold in India.

Our investments in Europe, particularly in JET and La Centrale, are set to deliver superior AI-enhanced consumer experiences in a market rich with potential.”

“We are shaping the future with AI, and more than 20,000 AI agents are enabling us to scale expeditiously and make informed decisions. Our relentless focus on results and innovation, embedded in our Prosus Way culture, positions us favorably to attain our FY26 targets. Nevertheless, this is merely the commencement of our journey towards realizing an AI-first world for our 2 billion users.”

Nico Marais, CFO of Prosus and Napers, remarked, “We have reported a robust first half, marked by record revenue, profitability, and free cash flow, driven primarily by our most lucrative ventures.

With this momentum, I am optimistic about meeting our FY26 guidance. Our fortified balance sheet, complemented by improving cash flows, affords us the flexibility to strategically invest in the growth and acceleration of our regional ecosystems.

Continuous investment in our operations, through share repurchases, is generating substantial value for our shareholders. Moving forward, our priorities are explicit: sustain industry-leading growth alongside expanding profitability and free cash flow, and deploy capital judiciously through business investments, share repurchases, and opportunities to enhance our ecosystems.”

Ecosystem Progress

Latin America (iFood, iFood Pago, Despegar, OLX Brasil, and Sympla)

In Latin America, we are pioneering the establishment of integrated operations, investments, and partnerships, effectively connecting our flagship brands to facilitate deeper engagement and engender new revenue streams.

iFood

• Demonstrated substantial progress attributable to stellar execution in core food delivery, with growth in the Clube loyalty program and an expanding fintech offering, iFood Pago. Successful diversification efforts beyond food delivery through acquisitions and advancements in restaurant technology.
  
• Overall, achieved impressive revenue growth of 32% (35%), with adjusted EBITDA increasing 57% (64%) to US$184 million.
  
• Core food delivery experienced robust topline growth, with orders up 11%, GMV rising 15%, and revenue climbing 14% (24%).
  
• Core food delivery profitability improved by 27% (29%) to US$204 million, yielding an adjusted EBITDA margin of 32%.
  
• iFood Pago’s revenues surged 179% (96%), with adjusted EBITDA profitability anticipated by September 2025.

Despegar²

• Early integration with iFood is yielding positive results, with 3% of Decolar’s net revenue derived from iFood.
  
• Gross bookings escalated by 30%, driving an 18% (13%) growth in revenue.
  
• Achieved adjusted EBITDA of US$38 million, maintaining a 13% margin.

Europe (OLX, eMAG, iyzico, and Just Eat Takeaway.com)

In Europe, we aspire to replicate our success from Latin America, with the recent acquisitions of JET and La Centrale facilitating this ambition. Leveraging category-leading businesses, we are committed to delivering AI-powered, best-in-class consumer experiences, recognizing vast potential for value creation in this key market.

OLX

• Exhibited strong performance, particularly in the motors and real estate sectors.
  
• Revenue grew by 22% (17%), reaching US$473 million.
  
• Adjusted EBITDA soared 52% (44%) to US$231 million, achieving a 10pp margin increase to 49%.
  
• The motors segment delivered exceptional results, with revenue growth of 27% (23%) to US$191 million and expanding adjusted EBITDA margins to 60%.
  
• The real estate segment also performed well, with a 26% (23%) revenue increase to US$92 million, and adjusted EBITDA margins rising to 45%.
  
• The La Centrale acquisition is poised to enhance growth and profitability for OLX.
  
• Future focus will be on sustaining revenue growth and amplifying profit margins via monetization initiatives, AI innovations, and operational efficiencies.

eMAG

• Profitability has been bolstered despite mounting competition and a challenging macroeconomic landscape.
  
• Revenue remained stable at US$1.1 billion, while adjusted EBITDA increased 55% (23%) to US$45 million.

Iyzico

• Displayed strong growth and rapid scaling of core operations.
  
• Total Payment Volume (TPV) surged 65%, with revenue climbing 73% (50%) to US$207 million.
  
• Adjusted EBITDA remained stable at US$11 million.

Just Eat Takeaway.com

• JET was successfully acquired and delisted on 17 November 2025.
  
• JET is set to serve as the cornerstone of our European lifestyle e-commerce ecosystem as we endeavor to build a leading AI technology entity in Europe.

Our operations in India are evolving through enhanced execution and the acquisition of high-potential businesses, with recent investments in Rapido and ixigo.

PayU continues to strengthen its connectivity across this ecosystem, establishing new partnerships with Swiggy, Meesho, and PharmEasy, while presenting broader opportunities for synergies.

PayU

• Movement towards growth has resumed, propelled by efficient execution and improved methodologies, following the sanctioning of our payment aggregator license.
  
• Overall revenue increased by 20% (17%) to US$397 million.
  
• The adjusted EBITDA margin improved by 6pp in 1H26, achieving profitability in Q2 FY26.
  
• In payment services, revenue grew by 20% (16%) to US$301 million, with adjusted EBITDA at US$2 million.
  
• In credit services, revenue climbed by 17% (22%) to US$96 million, with the adjusted EBITDA margin surging by 17pp, reaching breakeven in Q2 FY26.

1. Unless stated otherwise, the growth rates in this report compare the first half of the fiscal year concluding on 31 March 2026 (1H26) to the first half of the fiscal year ending on 31 March 2025 (1H25).

The percentages/numbers in parentheses represent local currency growth, excluding the impact of acquisitions and disposals (M&A), providing a more lucid perspective of our businesses’ fundamental operational performance. Financial outcomes are presented based on continuing operations.

2. Year-on-year operational data for Despegar is presented for comparative purposes only. Despegar’s financials have been consolidated into Prosus since May 2025.

3. Acquired and subsequently delisted on 17 November 2025.

4. Transaction concluded on 17 November 2025.

Source link: Prosus.com.