Naspers Limited (Naspers) delivered a strong performance during a transformative year, as we build the leading lifestyle ecommerce company in Latin America, Europe and India, driven by AI and innovation.

• Ecommerce revenue growth of 21%, to US$7.0bn.
• Adjusted EBIT increased 18 times to US$430m.
• iFood aEBIT grew 178%, OLX aEBIT up 61% and eMAG achieved profitability.
• Free cash flow improved by US$263m, excluding Tencent.
• US$7.8bn1 invested to strengthen our regional ecosystems and expand our portfolio of AI-native startups.
• Buybacks returned over US$50bn2, driving 15% NAV per share accretion.

Fabricio Bloisi, Group CEO, Prosus and Naspers said: “Naspers is rapidly transforming into an operating technology company, focused on lifestyle ecommerce, and powered by innovation and collaboration. This past year, we announced two significant deals to strengthen our regional ecosystems. We completed the acquisition of Despegar in May 2025 and are already integrating its products into iFood’s Clube membership. We are making good progress with the purchase of Just Eat Takeaway.com, which will create a new AI-powered tech champion in Europe.

“I believe that truly great companies are shaped by their culture. Through ‘The Prosus Way’, we’ve implemented a cultural model that empowers our teams to deliver exceptional customer experiences through discipline, innovation and adopting an AI-first mindset. In the face of unprecedented technological disruption, we are now more connected and innovative than ever before. I’m confident that our enhanced culture and ecosystem approach will fuel our journey to create the next US$100bn in value.”

Nico Marais, Group CFO, Prosus and Naspers, commented: “The Group has delivered a strong financial performance over the past year, with topline growth in our operating businesses at double the rate of our peers. Ecommerce profitability has improved meaningfully from US$24m in FY24, to aEBIT of US$430m. We expect this momentum to continue, and to add at least the same level of incremental aEBIT in FY26. Free cash flow excluding the Tencent dividend improved by US$263m. As our financial position strengthens, we’re able to share more with our shareholders, and have proposed a 100% increase in the Prosus dividend, to €0.20. The Group’s disciplined capital allocation and strong balance sheet positions us well to execute on our ecosystem strategy.”