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Prosus N.V. Today Announced Its First Set of Results for the Six Months Ended 30 September 2019

November 22, 2019 GMT

AMSTERDAM--(BUSINESS WIRE)--Nov 22, 2019--

PROSUS (AEX: PRX) DELIVERS SOLID RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2019. GROUP REVENUES, TRADING PROFIT AND CORE HEADLINE EARNINGS GREW OVER THE PERIOD, WHILE THE GROUP CONTINUED TO INVEST IN FUTURE GROWTH

Group highlights for the period
See “Notes” section for an explanation of the numbers

Basil Sgourdos, Group Chief Financial Officer, said:

“We executed well during the first six months of the year, growing revenue 20% to US$9.9bn, and trading profit 7% to US$1.9bn. All key segments made good progress against financial and strategic objectives. The Classifieds and Payments & Fintech segments have reached profitability at their core and continue to grow strongly, while investing to drive future growth. Food Delivery remains the largest investment area for the group this year, underscoring our confidence in the strong underlying unit economics of this business. We end the period with a strong net cash position of US$5.4bn, which positions us well to pursue further growth.”

Bob van Dijk, Group Chief Executive, added:

“The successful listing of Prosus on Euronext Amsterdam in September created a new global consumer internet company headquartered in Europe, opening up investor access to our unique portfolio of international internet assets and positioning us well for future growth. For the six months ended 30 September, our first reporting period for Prosus, we delivered solid results and good progress in our core segments, which are growing fast and scaling well.”

Key metrics

HY20

HY19

 

US$’m

US$’m

Revenue

9 925

8 881

Trading profit

1 918

1 835

Core headline earnings

1 713

1 603

Free cash inflow

14

96

* All numbers shown are from continuing operations

The complete results are available at www.prosus.com/investors

NOTES

The numbers

Looking ahead – Prosus cash offer for Just Eat plc

For more information please visit www.prosus.com/investors/justeat

About Prosus

Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities.

The group is focused on building meaningful businesses in the online classifieds, payments and fintech, and food delivery sectors in markets including India, Russia and Brazil. Through its ventures team investments, in areas including edtech and health, Prosus actively seeks new opportunities to partner with exceptional entrepreneurs who are using technology to address big societal needs.

Every day, millions of people use the products and services of companies that Prosus has invested in, acquired or built, including Avito, Brainly, BYJU’S, Codecademy, eMAG, Honor, iFood, LazyPay, letgo, Meesho, Movile, OLX, PayU, Red Dot Payments, Remitly, SimilarWeb, SoloLearn, Swiggy, and Udemy.

Hundreds of millions of people have made the platforms of its associates a part of their daily lives. For listed companies where we have an interest, please see: Tencent ( www.tencent.com; SEHK:00700), Mail.ru ( www.corp.mail.ru; LSE:MAIL), Ctrip.com International Limited (“Ctrip”) (NASDAQ:CTRP), and DeliveryHero ( www.deliveryhero.com; Xetra:DHER).

Today, Prosus companies and associates help improve the lives of around a fifth of the world’s population.

Prosus has a primary listing on Euronext Amsterdam (AEX:PRX) and a secondary listing on the Johannesburg Stock Exchange (XJSE:PRX), and is majority owned by Naspers.

For more information, please visit www.prosus.com

IMPORTANT INFORMATION

This report contains forward-looking statements as defined in the United States Private Securities Litigation Reform Act of 1995. Words such as “believe”, “anticipate”, “intend”, “seek”, “will”, “plan”, “could”, “may”, “endeavor” and similar expressions are intended to identify such forward looking statements, but are not the exclusive means of identifying such statements.

By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and should be considered in light of various important factors. While these forward-looking statements represent our judgments and future expectations, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations.

The key factors that could cause our actual results performance, or achievements to differ materially from those in the forward-looking statements include, among others, changes to IFRS and the interpretations, applications and practices subject thereto as they apply to past, present and future periods; ongoing and future acquisitions, changes to domestic and international business and market conditions such as exchange rate and interest rate movements; changes in the domestic and international regulatory and legislative environments; changes to domestic and international operational, social, economic and political conditions; the occurrence of labour disruptions and industrial action and the effects of both current and future litigation.

We are not under any obligation to (and expressly disclaim any such obligation to) revise or update any forward-looking statements contained in this report, whether as a result of new information, future events or otherwise. We cannot give any assurance that forward-looking statements will prove to be correct and investors are cautioned not to place undue reliance on any forward-looking statements contained herein.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191122005257/en/

CONTACT: For more information on our half year results please contact:

Eoin Ryan

Head of Investor Relations

Tel: +1 347-210-4305

Email:eoin.ryan@prosus.comSarah Ryan

Media Relations, International

Mobile: +31 6 297 21038

Email:sarah.ryan@prosus.comShamiela Letsoalo

Media Relations, South Africa

Mobile: +27 78 802 6310

Email:shamiela.letsoalo@prosus.com

KEYWORD: NETHERLANDS EUROPE

INDUSTRY KEYWORD: OTHER RETAIL INTERNET FINANCE CONSULTING PROFESSIONAL SERVICES TECHNOLOGY ONLINE RETAIL RETAIL

SOURCE: Prosus N.V.

Copyright Business Wire 2019.

PUB: 11/22/2019 08:23 AM/DISC: 11/22/2019 08:23 AM

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