Prosus core earnings leap 84% as all regions post profit
Prosus’ logo is pictured on a smartphone in this illustration taken, December 4, 2021. REUTERS/Dado Ruvic/Illustration
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June 29 : Dutch digital services operator Prosus reported an 84 per cent leap in full-year adjusted core profit on Monday, with its consumer platforms profitable across all regions for the first time.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) across its digital services and e-commerce portfolio rose 84 per cent to $1.3 billion (€1.14 billion) on revenue up 57 per cent at $9.7 billion.
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.
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 per cent to 28 euro cents per share.
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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.
The company’s Latin American food delivery platform iFood grew adjusted EBITDA by 178 per cent to $400 million while European online marketplace OLX’s adjusted EBITDA rose 61 per cent to $481 million.
(1 euro = $1.1392)
($1 = 0.8775 euros)
Source: Reuters
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