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Key Points
- Prosus aims to generate $400 million in adjusted e-commerce EBIT by March 2025, led by CEO Fabricio Bloisi's profitability push.
- The South African-Dutch tech giant tripled its adjusted e-commerce EBIT in the first half of fiscal 2024 under Bloisi’s leadership.
- Prosus raised $743 million from selling 14.5 million Trip.com shares to fund buybacks and invest in higher-growth sectors.
Prosus NV, the global consumer internet group led by South African billionaire Koos Bekker, aims to boost its e-commerce profits to $400 million by the end of its 2025 fiscal year.
According to CEO Fabricio Bloisi, the South African-Dutch tech giant plans to deliver adjusted earnings before interest and tax (EBIT) of $400 million from its e-commerce operations by March 2025, with expectations for sustained growth in the future.
“In fiscal year 2024, the group improved its e-commerce adjusted EBIT by more than $400 million, and our intent is to keep that pace up this year,” Bloisi said. “I do not expect this pace of improvement to slow down next year, either.”
Profitability milestones under new leadership
Since taking over as CEO, Bloisi has driven rapid growth. In the first half of fiscal 2024, Prosus tripled its adjusted e-commerce EBIT compared to the entire previous fiscal year, Bloisi noted. “It is critical that our core e-commerce business becomes a bigger source of profitability and free cash flow for the group,” he added.
Founded in 1997, Prosus operates as a division of Naspers and is one of the world’s largest technology investors. The group holds a diverse portfolio, with stakes in sectors such as fintech, social media, education technology, and food delivery.
Bekker, who owns 0.84 percent of Prosus—currently valued at $588 million—has spearheaded several strategic initiatives over the past year, including share buybacks and divestments to enhance shareholder value.
Divestments unlock value amid portfolio optimization
In line with its strategy to trim non-core assets, Prosus recently divested its shares in Chinese travel agency Trip.com, selling 14.5 million shares for $743 million. The sale aligns with the company’s efforts to focus on higher-growth sectors while unlocking liquidity for reinvestment.
While Trip.com has expanded its domestic travel business, it faces challenges stemming from China's uneven recovery from the COVID-19 pandemic. Prosus's divestment provides additional capital for its ongoing share-purchase program and future investments in areas with higher growth potential.
With a focus on digital transformation and profitability, Prosus continues to reallocate resources to strengthen its portfolio and deliver long-term value to shareholders.
