Prosus posts standout FY26 as strategy delivers at scale

FY26 was a year of delivery: strong results, disciplined capital allocation, and accelerating AI innovation. Prosus delivered across its AI-powered Lifestyle Ecosystem of delivery, finance and experiences, with all regional ecosystems profitable. Our businesses are increasingly interconnected, driving higher engagement, stronger cross-selling and accelerating network effects. AI is embedded at every layer, from agents that run operations to life assistants that serve customers directly. ToqanClaw, our agentic AI platform, is already available to our 5-million-plus restaurant partners, building the intelligent systems that define the next phase of commerce.

Highlights

• 57% growth in Ecosystem2 revenue, to $9.7bn
• 84% increase in Ecosystem aebitda to $1.3bn
• Record free cash flow generation of $1.5bn
• 24% growth in core headline earnings per share
• $46bn returned through buybacks, driving 16pp NAV accretion
• 40% increase in total Prosus full-year dividend, to euro 28c
• $2bn of non-core asset sales
• ToqanClaw, Prosus agentic platform, available to 5-million-plus partners globally

Fabricio Bloisi, CEO of Prosus, said:

“At Prosus we are building something fundamentally different, an AI-powered Lifestyle Ecosystem that gets smarter and stronger with every interaction. Eighteen months ago, this was a vision. Today the integrated ecosystem is a reality, and it’s scaling fast. The more we grow, the greater the opportunity ahead.

“Our AI capabilities are live, scaling and delivering real competitive advantage. We are moving from reactive platforms to intelligent systems that predict, personalise and execute, based on proprietary data. The Large Commerce Model, our agentic platform Toqan and our life assistants are changing how our customers and partners experience the digital economy. We said we would deliver results, innovation and discipline. We delivered all three. Prosus is much more than it was a year ago – and we are just getting started.”

Nico Marais, CFO of Prosus, said:

“FY26 was a landmark year for Prosus. We delivered strong free cash flow, tripled our ecosystem aebitda in two years, and achieved profitability across all three regional ecosystems. These results reflect the discipline of our teams and the compounding effect of consistent execution. Looking ahead, we are deploying capital by investing in iFood and JET to strengthen our food ecosystem, continuing our buyback programme, and actively building Prosus Plus. Our fundamentals are strong, our strategy is clear, and we are confident in our ability to keep delivering value for shareholders.”

Ecosystem progress

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

In Latin America, we are building an integrated ecosystem of operations, investments and partnerships. iFood, iFood Pago and Despegar are already generating cross-platform synergies, powered by the LCM and connected by Life Assistants.

iFood

• iFood expanded its market leadership, growing beyond food delivery, with loyalty, fintech and new categories all gaining meaningful traction
• Revenue grew 40% (28%), with aebitda up 56% (49%) to $400m and aebit up 58% (51%) to $358m
• Core food delivery grew orders by 8% and GMV by 17% (12%), with Clube loyalty accounting for 45% of total food delivery volume by March
• iFood Pago scaled strongly, with revenue up 219% (93%) to $463m, now accounting for approximately 25% of iFood total revenues; aebitda turned positive at $38m
• Broader categories (grocery, pharmacy, convenience) continued to scale, with revenue up 34% in local currency, excluding M&A, GMV up 47% and improving aebitda margins

Despegar

• Integration with iFood delivered strong results, with 21% of Brazil’s B2C net revenues generated by iFood customers
• Gross bookings grew 29% to $5.9bn, driving revenue of $804m and aebitda of $131m, with a 16% aebitda margin
• Orders increased by 44%, with Brazil growing revenue at over 40% (29%), outpacing the broader market

India (PayU + investment portfolio, including Swiggy, Meesho, ixigo and Rapido)

Our Indian ecosystem is evolving through better execution and acquisitions of high-potential businesses, with new investments in Rapido and ixigo. PayU is increasingly connected across this ecosystem, adding new partnerships and driving measurable cross-platform synergies.

PayU

• Revenue grew 13% (11%) to $781m, with aebitda turning positive at $18m for the first time – a significant milestone
• Processed $90bn of TPV, with payments revenue up (10%) 6% to $577m and aebitda of $12m
• Credit pivoted to profitability, with aebitda of $6m

Europe (OLX, Just Eat Takeaway.com)

With category-leading businesses delivering AI-powered best-in-class consumer experiences, we see huge potential for value creation in this important market.

OLX

• A strong performance across all verticals, with revenue growing 28% (16%) to $992m and aebitda up 53% (38%) to $481m, with an 8pp margin expansion to 48%
• Motors delivered an exceptional performance, growing revenue 42% (20%) to $429m and expanding aebitda margins to 59%
• Real estate showed strong growth, with revenue up 26% (24%) to $185m and an aebitda margin of 46%
• Jobs delivered steady revenue growth of 14% (7%) to $87m, sustaining a strong aebitda margin of 43% despite a challenging market

Just Eat Takeaway.com

• Operational turnaround focused on three priorities: cultural shift to The Prosus Way, accelerating technology and innovation, and sharpening market focus
• For the six-month post-acquisition period, JET delivered revenue of $1.9bn, aebitda of $83m and aebit of $8m
• Early pilot results in selected cities show order growth of up to 25%, validating the transformation approach