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:

Key Details

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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