Naspers and Prosus Report Strong Growth with AI-Driven Strategy

Naspers Accelerates Growth, With 5X Improvement in Adjusted EBIT By Investing.com

CAPE TOWN, South Africa--(BUSINESS WIRE)--Naspers Limited (Naspers) (JSE: NPN): The first six months of the financial year have been a successful period for the Group. Our operations delivered topline growth of 24%, with consolidated Ecommerce revenue of US$3.3bn, and we increased Ecommerce adjusted EBIT by five times to US$169m. We recently celebrated the listing of Swiggy, valued at US$11.3bn, and sold US$2bn+ of assets, including a portion of our Swiggy stake and our Trip.com position. Our buyback has created US$36bn of value since launch, with 12% NAV per share accretion, and is the largest globally of any tech company as a portion of market capitalisation. We are actively exploring the immense AI opportunity for our more than 2 billion customers, to accelerate our growth and profitability, and we are confident in the impact and value it will bring. Fabricio Bloisi, Group CEO, said: Innovation and reinvention are in our DNA and essential to our success. We are embracing the massive opportunity we see in deploying AI to deliver exceptional products and services to our 2 billion customers. Our future growth will be driven by our AI-first mindset and disciplined investment into building world-class marketplaces, combined with greater collaboration across the ecosystem and our ability to build a winning culture. We are already showing signs of success, with peer-leading growth and rising profitability across our Ecommerce portfolio. AI is transforming the way we work and how we serve our customers. We have data from billions of transactions across our portfolio that allow us to train AI models to personalise the customer experience and better predict their needs. This is a competitive advantage of our technology ecosystems. I am excited about the huge potential for Naspers " our journey to the next US$100 billion of value is well under way. Ervin Tu, President and CIO, Prosus (OTC:PROSF) and Naspers, commented: In the past six months, we've made substantial progress delivering on our strategy. Our Group is profitable after corporate costs, and our ongoing share buyback programme continues to create meaningful shareholder value. With Swiggy's recent IPO, and by actively managing our portfolio through equity stake sales, we've highlighted significant pools of value, and we're confident there's even more ahead. With our strong and liquid balance sheet, we plan to grow and leverage our ecosystem, with an eye on the next wave of opportunity. We believe the combination of stronger-performing operating businesses, value creating M&A, and our open-ended share-repurchase programme will continue to drive shareholder returns. Directorate change After 29 years of exemplary leadership and service, Basil Sgourdos will retire as Group Chief Financial Officer, effective 30 November 2024. Nico Marais will assume the role of Interim Chief Financial Officer of Naspers and Prosus. The process to finalise the role of the Group Chief Financial Officer has begun and the market will be advised of this decision in due course. The board of directors has decided to nominate Mrs Phuti Mahanyele-Dabengwa for appointment as an executive director of Prosus at the next annual general meeting. Mrs Mahanyele-Dabengwa is currently the Chief Executive Officer of Naspers South Africa. She is also an independent nonexecutive director of Vodacom and Discovery (NASDAQ:WBD) Insure. She is a member of the United Nations Global Compact SA board and of the BRICS council. With effect from 1 April 2025, Mrs Mahanyele-Dabengwa is expected to be appointed as an executive director of Naspers Limited. Group performance Phuthi Mahanyele-Dabengwa, South Africa CEO, Naspers, commented: "We saw encouraging developments in South Africa's operating environment in the first half of this financial year, creating a more favourable backdrop for growth. Our South African businesses performed positively over the period and we expect them to accelerate their performance, through our strategy of driving innovation and adopting an artificial intelligence (AI) first mindset. We are also excited about delivering even greater value to consumers, offering them enhanced convenience and seamless experiences through our platform businesses. As digital platforms increasingly drive economic growth around the world, Naspers is proud to champion the digital platform economy in South Africa as a catalyst for economic development, innovation, and job creation. Peer-leading growth and accelerating profitability across Ecommerce portfolio Food Delivery: iFood reaches 100m order milestone4, achieves record profit and drives innovation and ecosystem expansion, and Swiggy's IPO delivers gain of US$2bn Classifieds " OLX Group: Strong performance, with continued growth and expanding margins Payments & Fintech " PayU: Strong overall performance, with significant revenue growth and improving margins Etail: Continued growth at Takealot Group and eMAG on track for overall profitability for FY25 Edtech: Improving performance, with a focus on profitability Media24: ongoing transition of news operations in an increasingly digital media landscape For full details of the Group's results, please visit www.naspers.com. _____ 1 All growth percentages shown here are in local currency terms, excluding the impact of acquisitions and disposals (M&A), unless otherwise stated. 2 Nominal basis 3 Excludes OLX Autos and OLX Autos financing business 4 iFood reported more than 100m orders in August 2024

Prosus Accelerates Growth, with 5X Improvement in Adjusted EBIT By Investing.com

AMSTERDAM--(BUSINESS WIRE)--Prosus N.V. (Prosus (OTC:PROSF)) (AEX and JSE: PRX): The first six months of the financial year have been a successful period for the Group. Our operations delivered topline growth of 26%, with consolidated Ecommerce revenue of US$3.0bn, and we increased Ecommerce adjusted EBIT by five times to US$181m. We recently celebrated the listing of Swiggy, valued at US$11.3bn, and sold US$2bn+ of assets, including a portion of our Swiggy stake and our Trip.com position. Our buyback has created US$36bn of value since launch, with 10% NAV per share accretion, and is the largest globally of any tech company as a portion of market capitalisation. We are actively exploring the immense AI opportunity for our more than 2 billion customers, to accelerate our growth and profitability, and we are confident in the impact and value it will bring. Fabricio Bloisi, Group CEO, said: Innovation and reinvention are in our DNA and essential to our success. We are embracing the massive opportunity we see in deploying AI to deliver exceptional products and services to our 2 billion customers. Our future growth will be driven by our AI-first mindset and disciplined investment into building world-class marketplaces, combined with greater collaboration across the ecosystem and our ability to build a winning culture. We are already showing signs of success, with peer- leading growth and rising profitability across our Ecommerce portfolio. AI is transforming the way we work and how we serve our customers. We have data from billions of transactions across our portfolio that allow us to train AI models to personalise the customer experience and better predict their needs. This is a competitive advantage for our technology ecosystem. I am excited about the huge potential for Prosus " our journey to the next US$100 billion of value is well under way. Ervin Tu, President and CIO, Prosus and Naspers, commented: In the past six months, we've made substantial progress delivering on our strategy. Our Group is profitable after corporate costs, and our ongoing share buyback programme continues to create meaningful shareholder value. With Swiggy's recent IPO, and by actively managing our portfolio through equity stake sales, we've highlighted significant pools of value and we're confident there's even more ahead. With our strong and liquid balance sheet, we plan to grow and leverage our ecosystem, with an eye on the next wave of opportunity. We believe the combination of stronger-performing operating businesses, value creating M&A, and our open-ended share-repurchase programme will continue to drive shareholder returns. Directorate change After 29 years of exemplary leadership and service, Basil Sgourdos will retire as Group Chief Financial Officer, effective 30 November 2024. Nico Marais will assume the role of Interim Chief Financial Officer of Naspers and Prosus. The process to finalise the role of the Group Chief Financial Officer has begun and the market will be advised of this decision in due course. The board of directors has decided to nominate Mrs Phuti Mahanyele-Dabengwa for appointment as an executive director of Prosus at the next annual general meeting. Mrs Mahanyele-Dabengwa is currently the Chief Executive Officer of Naspers South Africa. She is also an independent nonexecutive director of Vodacom and Discovery (NASDAQ:WBD) Insure. She is a member of the United Nations Global Compact SA board and of the BRICS council. With effect from 1 April 2025, Mrs Mahanyele-Dabengwa is expected to be appointed as an executive director of Naspers Limited. Group performance Peer-leading growth and accelerating profitability across Ecommerce portfolio Food Delivery: iFood reaches 100m order milestone4, achieves record profit and drives innovation and ecosystem expansion, and Swiggy's IPO delivers gain of US$2bn Classifieds " OLX Group: Strong performance, with continued growth and expanding margins Payments & Fintech " PayU: Strong overall performance, with significant revenue growth and improving margins Etail: Improving sales trajectory, with eMAG on track for overall profitability for FY25 Edtech: Improving performance, with a focus on profitability For full details of the Group's results, please visit www.prosus.com.