Prosus drops as CEO letter signals FY27 earnings pressure from iFood, JET investment

Prosus NV

12/05/2026 09:40

Corrects index to AEX, not BEL 20, in bullet 1. Updates share move and milestone in bullets 1 and 6.

** Shares in Prosus PRX.AS fall 8.3% to the bottom of AEX .AEX index after the Dutch internet investment firm published on Tuesday an unexpected update signalling pressure on FY 2027 earnings, a more drawn-out JET recovery

** In a CEO letter to shareholders, the group deemed 2027 as an execution year

** It said it bought back 2 billion dollars worth of shares in FY 2026, and would continue its share buyback at about 5 billion dollars (4.26 billion euros) annual run rate

** Jefferies takes away from the letter that iFood is pushing back against rival Keeta at a cost, while JET's turnaround looks longer and pricier

** The broker notes that no guidance was provided, says that "given the delta to consensus on iFood and JET, all else being equal," current FY 2027 adjusted EBITDA consensus of 1.38 billion dollars is around 25% or 340 million dollars too high

** Shares are on track for their worst day since February 2025, one of the worst performers on Europe's STOXX 600 .STOXX index

($1 = 0.8513 euros)

(Reporting by Olivier Cherfan)

((olivier.cherfan@thomsonreuters.com))