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Investing.com -- Prosus (AS:PRX) on Monday reported a profit of $179 million for the year ended March 31, 2025, reversing a loss of $118 million a year earlier, driven by strong ecommerce performance and improved cost efficiency.
The group also generated $1 billion in free cash flow, marking its first period of positive free cash flow excluding Tencent (HK:0700) dividends, according to its full-year results presentation.
Ecommerce aEBIT rose to $443 million from $38 million the prior year. Revenue from ecommerce operations increased 21% to $6.2 billion, with margins expanding to 7% from less than 1% a year earlier.
On an aEBITDA basis, ecommerce earnings more than doubled to $655 million, with margins improving to 11%.
Group aEBITDA increased to $484 million from $228 million, while group aEBIT swung to a $179 million profit.
Core headline earnings rose 47% to $7.4 billion. Core headline earnings per share climbed 59%, helped by a 36% reduction in share count through ongoing share repurchases.
The group declared a dividend of 20 euro cents per share, up 100% from the previous year.
Total (EPA:TTEF) capital returned through its open-ended buyback program and previous repurchases reached $50 billion.
The Amsterdam-based company said it has acquired 1.2 billion shares of Prosus and Naspers to date, equal to 36% of Prosus’s free float.
iFood, its food delivery platform in Brazil, delivered 31% revenue growth and posted a 17% aEBIT margin. aEBIT rose 2.4 times year-over-year.
The platform exceeded 120 million monthly orders in March 2025. Core food delivery achieved a 28% margin.
OLX reported 18% revenue growth and a 35% aEBIT margin, driven by the motors and real estate categories.
PayU India grew revenue by 24%, despite a negative 7% aEBIT margin. Its payments margin improved by 3 percentage points in the second half of the year.
eMAG reached profitability for the first time, with 12% revenue growth and a 3% aEBIT margin.
Revenue in Romania rose 18%, while other regional units grew 30%. Edtech revenue increased 17%, and aEBIT losses narrowed from $57 million to $22 million.
The company completed $7.8 billion in acquisitions during the year, including Despegar (NYSE:DESP), which closed in May 2025.
The acquisition of Just Eat Takeaway remained pending. Proceeds from disposals over the same period totaled $2.6 billion. Divestments included Trip.com and PayU’s Africa and Latin America units.
Tencent contributed $5.7 billion to equity-accounted profit, up 20% year-over-year. Its share of core headline earnings rose 42% to $7 billion.
Prosus reported net cash of $1.9 billion as of March 31, 2025. Gross loan-to-value stood at 8.6%, with an interest cover ratio of 3.8 times.
The company is targeting ecommerce aEBIT above $800 million for fiscal 2026, including contributions from Despegar.