Advertisements
Home News Prosus Aims for $400 Million in E-commerce EBIT Amid Strong Growth

Prosus Aims for $400 Million in E-commerce EBIT Amid Strong Growth

by Barbara
Prosus NV is targeting $400 million in adjusted earnings before interest and tax (EBIT) from its e-commerce operations for the fiscal year ending in March, with expectations for further improvement in the future, according to Chief Executive Officer Fabricio Bloisi. In a letter reflecting on his first 100 days in the role, Bloisi stated, “In fiscal year 2024, the group improved its e-commerce adjusted EBIT by over $400 million, and our goal is to maintain that momentum this year, achieving $400 million in adjusted EBIT from our e-commerce operations.” He added that he does not anticipate a slowdown in this growth trajectory next year.

During the first half of the year, Prosus reported that revenue growth from its e-commerce segment accelerated compared to fiscal 2024, generating approximately three times the adjusted EBIT achieved throughout the entire previous year.

“It is critical that our core e-commerce business evolves into a more significant source of profitability and free cash flow for the group,” Bloisi emphasized.

Advertisements

Naspers Ltd., based in Cape Town and one of the largest technology investors worldwide, established its internet unit, Prosus, in Amsterdam about five years ago while retaining a single CEO for both companies. Bloisi is now addressing the complexities of a challenging business structure inherited from his predecessor, Bob van Dijk. This includes navigating the group’s substantial investment in Chinese tech giant Tencent Holdings Ltd. amid a difficult market landscape affecting many of Prosus’s internet ventures.

Advertisements
Advertisements

Related topics:

Advertisements

You may also like

Rckir is a comprehensive financial portal. The main columns include foreign exchange wealth management, futures wealth management, gold wealth management, stock wealth management, fund wealth management, insurance wealth management, trust wealth management, wealth management knowledge, etc.

【Contact us: [email protected]

© 2023 Copyright Rckir.com [[email protected]]