Improving our everyday life and our impact
PATH TO PROFITABILITY
We have a long history of investing and building businesses, then highlighting value.
It is in our DNA to look for new opportunities, see the potential others are not seeing and then to do the hard work of building and bringing businesses to scale and profitability. This is the case for our Ecommerce portfolio, which houses our focus segments Food Delivery, Classifieds, Payments and Fintech, and Edtech.
As expected, FY23 was the peak of our investment in ecommerce. Pleasingly, our FY24 results reflect aggregate Ecommerce profitability and cash flow generation, six months ahead of our stated timeline. Our strong balance sheet and liquidity remain key advantages in the current climate, underpinned by our disciplined approach to investing and commitment to maintain our investment-grade rating.
Progress since listing Prosus in 2019
Built valuable growth extensions
Continued investment of US$428m in extensions in high-conviction growth areas
Consolidated Ecommerce profitability
Delivering consolidated Ecommerce trading profit
Structural improvement
Simplified corporate structure by removing the crossholding between Naspers and Prosus
Enhanced disclosure
Financial, sustainability and remuneration reports
Strengthened shareholder engagement
Value creation, structural action, compensation, sustainability
Unlocked value for shareholders
US$30bn value delivered from buybacks since June 2022