Naspers, led by Koos Bekker, reports $3.4 billion in revenue for H1 2025

Feyisayo Ajayi -
Key Points
  • Naspers’ H1 2025 revenue soared to $3.4 billion, marking a 23% increase from last year, driven by robust performance across its eCommerce portfolio.
  • Group CEO Fabricio Bloisi highlights Naspers' focus on AI-driven innovation to enhance customer experience and profitability.
  • The company delivers $36 billion in value, achieving an unmatched 12% NAV accretion among global tech giants.

Naspers, the multinational internet and media group led by South African billionaire Koos Bekker, has reported a remarkable 23 percent revenue increase in the first half of its 2025 fiscal year compared to the same period in 2023. This highlights the group's strong financial performance and strategic execution under Bekker's leadership.

The company’s revenue surged to $3.4 billion, up from $2.9 billion in H1 2024, driven by a robust eCommerce portfolio and effective asset management strategies. Consolidated eCommerce revenue grew by 24 percent year-on-year, reflecting Naspers' focus on innovation and profitability. Additionally, adjusted EBIT quintupled to $169 million, underscoring the group's resilience and efficiency in navigating a competitive market.

Revenue surges amid five-fold rise in EBIT

Naspers’ revenue growth in the first half of 2025 was driven by strong performances in its U.S. operations and ecommerce portfolio. U.S. revenue rose 44 percent year-over-year to $499 million, with commercial revenue up 54 percent to $179 million and government revenue increasing 40 percent to $320 million. The ecommerce division saw a 24 percent revenue increase, totaling $3.3 billion, further solidifying its role as a key growth driver.

Naspers' food delivery segment led revenue growth with a 30 percent rise to $674 million, driven by platforms like iFood, which achieved record profitability, and Swiggy, valued at $11.3 billion ahead of its IPO. Asset sales exceeding $2 billion, including stakes in Swiggy and Trip.com, showcased Naspers' ability to create shareholder value. The classifieds arm, led by OLX Group, reported a 20 percent revenue increase, while PayU's payments and fintech operations surged 45 percent to $636 million. The eTail segment, featuring eMAG and Takealot, grew 16 percent, boosted by expanding GMV across platforms.

Group CEO Fabricio Bloisi highlighted the transformative role of artificial intelligence (AI) in enhancing customer experience and operational efficiency. “Innovation is core to Naspers. By harnessing AI, we aim to deliver exceptional products to over 2 billion customers, driving future growth and profitability,” he stated.

Naspers reaches new heights with unmatched NAV

Naspers, a South African multinational with a global internet, media, and technology presence, boasts a diversified portfolio spanning online retail, publishing, and venture capital, operating across five continents and serving over two billion customers.

Under the leadership of Koos Bekker, the company has evolved from its roots in publishing to a dominant force in e-commerce and cable TV. Despite holding a relatively modest 0.85 percent stake (1,687,887 shares), Bekker plays a pivotal role in shaping Naspers' strategic direction.

The company is now focused on harnessing AI opportunities, sustaining key investments, and optimizing operations to drive long-term growth. Since launching its buyback programme, Naspers has generated $36 billion in value, achieving 12 percent net asset value (NAV) accretion per share—the highest among tech companies globally by market capitalization.