Netherlands' Prosus FY26 revenue rises 57% on iFood, OLX growth
Netherlands' Prosus FY26 revenue rises 57% on iFood, OLX growth
Overview
Netherlands technology investor's FY26 revenue rose 57% to $9.7 bln, driven by acquisitions and iFood, OLX growth
Core headline EPS increased 24%, with core headline earnings up 13% to $8.3 bln
Net income from continuing operations fell 7%, mainly due to lower Tencent disposal gains
Outlook
Prosus expects iFood FY27 aEBITDA to be between US$100m and US$150m
Company expects JET FY27 revenue of over US$3.6bn and aEBITDA above US$100m
Prosus says investments in food delivery and logistics will impact FY27 net revenues
Result Drivers
IFOOD AND OLX GROWTH - Strong revenue and profit growth driven by iFood in LatAm and OLX in Europe, with iFood expanding beyond food delivery and OLX leveraging AI-driven product innovation
ACQUISITIONS - Revenue boosted by the acquisitions of Just Eat Takeaway.com (JET) and Despegar, contributing to overall group growth
TENCENT CONTRIBUTION - Higher profit from equity accounted investments, notably Tencent, supported core headline earnings growth
Company press release: ID:nRSc0530Ka
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
FY Revenue |
| $9.71 bln |
|
FY EPS |
| $523 |
|
FY Net Income |
| $11.65 bln |
|
FY Operating Income |
| -$173 mln |
|
FY Pretax Profit |
| $11.78 bln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 16 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the online services peer group is "buy"
Wall Street's median 12-month price target for Prosus NV is €65.91, about 75.9% above its June 26 closing price of €37.48
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)