Prosus FY26 Earnings Overview

Prosus announced that its full‑year adjusted core profit surged by 84% year‑on‑year, marking a landmark performance for the group. Adjusted EBITDA across its digital services and e‑commerce portfolio reached $1.3 billion, while total revenue climbed 57% to $9.7 billion, a rise attributed to recent acquisitions and robust growth at its food‑delivery platform iFood and classifieds business OLX.

Core headline earnings increased 13% to $8.3 billion, and core headline earnings per share rose 24%. However, net income from continuing operations declined 7%, primarily because gains from the disposal of shares in Chinese tech giant Tencent were lower than in the prior period.

Chief Financial Officer Nico Marais highlighted that FY26 was a “landmark year,” noting the tripling of ecosystem‑adjusted EBITDA over two years and the achievement of profitability across all three regional ecosystems.

FY27 Guidance and Shareholder Returns

Prosus provided forward‑looking guidance, projecting iFood’s adjusted EBITDA to fall between $100 million and $150 million for FY27. The company also expects its Just Eat Takeaway segment to generate revenue exceeding $3.6 billion with adjusted EBITDA above $100 million. In line with its previous commitments, Prosus reiterated a $5 billion share buyback programme for FY27 and left unchanged the outlook outlined in the chief executive’s May shareholder letter.

Analyst Commentary

Goldman Sachs analysts observed that the beat in e‑commerce EBITDA, especially from OLX, could drive a low‑ to mid‑single‑digit percentage upgrade to FY27 EBITDA, assuming other factors remain constant. They also noted that cash flow from operating assets slightly missed expectations and that the consensus on the buyback may be revised downward, although the $5 billion target was deemed reasonable.

Outlook Considerations

Prosus cautioned that continued investments in food‑delivery and logistics operations are likely to weigh on net revenues in the upcoming year, indicating that while top‑line growth remains strong, margin expansion may face short‑term pressure.