11/23/2022 | Press release | Distributed by Public on 11/23/2022 02:17
Prosus Group Economic Interest results1 | |||||||
US$'m | 1H FY20 | 1H FY21 | 1H FY22 | 1H FY23 | FY20 | FY21 | FY22 |
Continuing operations | |||||||
Ecommerce | |||||||
Revenue | 1,687 | 2,422 | 3,858 | 5,217 | 3,806 | 5,815 | 9,194 |
% YoY growth US$ | 2% | 44% | 59% | 35% | 18% | 53% | 58% |
% YoY growth LC, ex M&A | 29% | 57% | 52% | 41% | 34% | 58% | 51% |
Adjusted EBITDA | (414) | (231) | (439) | (879) | (862) | (467) | (1,135) |
% EBITDA margin | (25%) | (10%) | (11%) | (17%) | (23%) | (8%) | (12%) |
Trading Profit | (456) | (294) | (522) | (998) | (963) | (597) | (1,330) |
% TP margin | (27%) | (12%) | (14%) | (19%) | (25%) | (10%) | (14%) |
Classifieds | |||||||
Revenue | 394 | 442 | 988 | 1,339 | 889 | 1,184 | 2,344 |
% YoY growth US$ | 68% | 12% | 124% | 36% | 66% | 33% | 98% |
% YoY growth LC, ex M&A | 50% | (10%) | 115% | 60% | 46% | 16% | 106% |
Adjusted EBITDA | (61) | (35) | (22) | (133) | (138) | (123) | (150) |
% EBITDA margin | (15%) | (8%) | (2%) | (10%) | (16%) | (10%) | (6%) |
Trading Profit | (73) | (51) | (42) | (159) | (166) | (159) | (194) |
% TP margin | (19%) | (12%) | (4%) | (12%) | (19%) | (13%) | (8%) |
Food Delivery | |||||||
Revenue | 306 | 610 | 1,261 | 1,911 | 751 | 1,486 | 2,992 |
% YoY growth US$ | 69% | 99% | 107% | 52% | 99% | 98% | 101% |
% YoY growth LC, ex M&A | 69% | 141% | 86% | 52% | 105% | 127% | 77% |
Adjusted EBITDA | (273) | (168) | (281) | (333) | (596) | (313) | (651) |
% EBITDA margin | (89%) | (28%) | (22%) | (17%) | (79%) | (21%) | (22%) |
Trading Profit | (283) | (189) | (312) | (381) | (624) | (355) | (724) |
% TP margin | (92%) | (31%) | (25%) | (20%) | (83%) | (24%) | (24%) |
Payments & Fintech | |||||||
Revenue | 199 | 252 | 359 | 480 | 428 | 577 | 796 |
% YoY growth US$ | 16% | 27% | 42% | 34% | 19% | 35% | 38% |
% YoY growth LC, ex M&A | 20% | 29% | 44% | 55% | 21% | 36% | 45% |
Adjusted EBITDA | (35) | (27) | (27) | (93) | (60) | (59) | (52) |
% EBITDA margin | (18%) | (11%) | (8%) | (19%) | (14%) | (10%) | (7%) |
Trading Profit | (38) | (31) | (31) | (97) | (67) | (68) | (60) |
% TP margin | (19%) | (12%) | (9%) | (20%) | (16%) | (12%) | (8%) |
Edtech | |||||||
Revenue | 28 | 51 | 120 | 334 | 68 | 115 | 425 |
% YoY growth US$ | - | 82% | 135% | 178% | - | 69% | 270% |
% YoY growth LC, ex M&A | - | 54% | 51% | 38% | - | 56% | 55% |
Adjusted EBITDA | (5) | (11) | (42) | (167) | (18) | (11) | (100) |
% EBITDA margin | (18%) | (22%) | (35%) | (50%) | (26%) | (10%) | (24%) |
Trading Profit | (6) | (13) | (48) | (178) | (19) | (14) | (117) |
% TP margin | (21%) | (25%) | (40%) | (53%) | (28%) | (12%) | (28%) |
Etail | |||||||
Revenue | 525 | 965 | 1,029 | 852 | 1,363 | 2,250 | 2,259 |
% YoY growth US$ | (38%) | 84% | 7% | (17%) | (11%) | 65% | 0% |
% YoY growth LC, ex M&A | 13% | 70% | 4% | (4%) | 16% | 54% | 3% |
Adjusted EBITDA | (1) | 40 | 10 | (14) | 8 | 102 | 12 |
% EBITDA margin | (0%) | 4% | 1% | (2%) | 1% | 5% | 1% |
Trading Profit | (15) | 24 | (11) | (38) | (20) | 68 | (35) |
% TP margin | (3%) | 2% | (1%) | (4%) | (1%) | 3% | (2%) |
Travel | |||||||
Revenue | 146 | - | - | - | 146 | - | - |
% YoY growth US$ | 7% | - | - | - | (38%) | - | - |
% YoY growth LC, ex M&A | 4% | - | - | - | 8% | - | - |
Adjusted EBITDA | (19) | - | - | - | (19) | - | - |
% EBITDA margin | (13%) | - | - | - | (13%) | - | - |
Trading Profit | (21) | - | - | - | (22) | - | - |
% TP margin | (14%) | - | - | - | (15%) | - | - |
Other2 | |||||||
Revenue | 117 | 102 | 101 | 301 | 229 | 203 | 378 |
% YoY growth US$ | 24% | (13%) | (1%) | 198% | 5% | (11%) | 86% |
% YoY growth LC, ex M&A | 26% | 29% | 82% | 117% | 21% | 26% | 141% |
Adjusted EBITDA | (25) | (30) | (77) | (139) | (57) | (63) | (194) |
% EBITDA margin | (21%) | (29%) | (76%) | (46%) | (25%) | (31%) | (51%) |
Trading Profit | (26) | (34) | (78) | (145) | (64) | (69) | (200) |
% TP margin | (22%) | (33%) | (77%) | (48%) | (28%) | (34%) | (53%) |
Social and internet platforms | |||||||
Revenue | 8,017 | 10,082 | 12,463 | 11,309 | 17,189 | 22,526 | 25,794 |
% YoY growth US$ | 14% | 26% | 24% | (9%) | 17% | 31% | 15% |
% YoY growth LC, ex M&A | 18% | 28% | 23% | (1%) | 21% | 28% | 16% |
Adjusted EBITDA | 2,682 | 3,464 | 4,012 | 3,142 | 5,455 | 7,229 | 7,623 |
% EBITDA margin | 33% | 34% | 32% | 28% | 32% | 32% | 30% |
Trading Profit | 2,334 | 2,983 | 3,385 | 2,497 | 4,699 | 6,154 | 6,319 |
% TP margin | 29% | 30% | 27% | 22% | 27% | 27% | 24% |
Associate | Tencent | ||||||
Revenue | 7,800 | 9,912 | 12,250 | 11,309 | 16,779 | 22,155 | 25,261 |
% YoY growth US$ | 13% | 27% | 24% | (8%) | 16% | 32% | 14% |
% YoY growth LC, ex M&A | 18% | 28% | 23% | (1%) | 21% | 28% | 16% |
Adjusted EBITDA | 2,599 | 3,426 | 3,969 | 3,142 | 5,328 | 7,151 | 7,502 |
% EBITDA margin | 33% | 35% | 32% | 28% | 32% | 32% | 30% |
Trading Profit | 2,264 | 2,968 | 3,373 | 2,497 | 4,601 | 6,126 | 6,273 |
% TP margin | 29% | 30% | 28% | 22% | 27% | 28% | 25% |
Associate | VK3 | ||||||
Revenue | 217 | 170 | 213 | - | 410 | 371 | 533 |
% YoY growth US$ | 60% | (22%) | 25% | - | 43% | (10%) | 44% |
% YoY growth LC, ex M&A | 22% | 20% | 28% | - | 26% | 21% | 25% |
Adjusted EBITDA | 83 | 38 | 43 | - | 127 | 78 | 121 |
% EBITDA margin | 38% | 22% | 20% | - | 31% | 21% | 23% |
Trading Profit | 70 | 15 | 12 | - | 98 | 28 | 46 |
% TP margin | 32% | 9% | 6% | - | 24% | 8% | 9% |
Corporate | |||||||
Revenue | - | - | - | - | - | - | - |
Adjusted EBITDA | (56) | (36) | (75) | (78) | (134) | (104) | (160) |
Trading Profit | (64) | (40) | (78) | (81) | (140) | (110) | (167) |
Economic interest from continuing operations | |||||||
Revenue | 9,704 | 12,504 | 16,321 | 16,526 | 20,995 | 28,341 | 34,988 |
% YoY growth US$ | 12% | 29% | 31% | 1% | 17% | 35% | 23% |
% YoY growth LC, ex M&A | 20% | 32% | 29% | 9% | 23% | 33% | 24% |
Adjusted EBITDA | 2,212 | 3,197 | 3,498 | 2,185 | 4,459 | 6,658 | 6,328 |
% EBITDA margin | 23% | 26% | 21% | 13% | 21% | 23% | 18% |
Trading Profit | 1,814 | 2,649 | 2,785 | 1,418 | 3,596 | 5,447 | 4,822 |
% TP margin | 19% | 21% | 17% | 9% | 17% | 19% | 14% |
Less: Equity-accounted investments | |||||||
Revenue | (8,480) | (10,517) | (13,568) | (13,286) | (18,057) | (23,640) | (28,751) |
Adjusted EBITDA | (2,464) | (3,277) | (3,767) | (2,654) | (5,003) | (6,901) | (6,985) |
Trading Profit | (2,100) | (2,770) | (3,103) | (1,949) | (4,217) | (5,778) | (5,589) |
Consolidated from continuing operations | |||||||
Revenue | 1,224 | 1,987 | 2,753 | 3,240 | 2,938 | 4,701 | 6,237 |
Adjusted EBITDA | (252) | (80) | (269) | (469) | (544) | (243) | (657) |
Trading Profit | (286) | (121) | (318) | (531) | (621) | (331) | (767) |
Discontinued operations4 | |||||||
Revenue | 193 | 186 | 312 | 540 | 392 | 415 | 629 |
Adjusted EBITDA | 120 | 91 | 164 | 218 | 220 | 190 | 246 |
Trading Profit | 110 | 80 | 151 | 210 | 200 | 168 | 220 |
Total group consolidated | |||||||
Revenue | 1,417 | 2,173 | 3,065 | 3,780 | 3,330 | 5,116 | 6,866 |
Adjusted EBITDA | (132) | 11 | (105) | (251) | (324) | (53) | (411) |
Trading Profit | (176) | (41) | (167) | (321) | (421) | (163) | (547) |
Notes | |||||||
1. | Results reported on an economic interest basis, i.e. equity-accounted investments (Associates and JV's) are proportionally consolidated within reportable segments. | ||||||
2. | Edtech became a segment from 1 April 2021 and is excluded from Other for all periods represented. | ||||||
3. | At the end of FY22 we discontinued equity accounting VK, as our directors resigned from the VK Board. | ||||||
4. | Avito is treated as a discontinued operation for 1H FY23 and prior year numbers have been adjusted. We completed its sale in October 2022. |
Prosus Group Consolidated results1 | ||||||||
US$'m | 1H FY20 | 1H FY21 | 1H FY22 | 1H FY23 | FY20 | FY21 | FY22 | |
Continuing operations | ||||||||
Ecommerce | ||||||||
Revenue | 1,224 | 1,987 | 2,753 | 3,240 | 2,938 | 4,701 | 6,237 | |
% YoY growth US$ | 17% | 62% | 39% | 18% | 26% | 60% | 33% | |
% YoY growth LC, ex M&A | 25% | 53% | 39% | 33% | 27% | 57% | 37% | |
Adjusted EBITDA | (196) | (44) | (194) | (391) | (410) | (139) | (497) | |
% EBITDA margin | (16%) | (2%) | (7%) | (12%) | (14%) | (3%) | (8%) | |
Trading Profit | (222) | (81) | (240) | (450) | (481) | (221) | (600) | |
% TP margin | (18%) | (4%) | (9%) | (14%) | (16%) | (5%) | (10%) | |
Classifieds | ||||||||
Revenue | 291 | 401 | 890 | 1,218 | 691 | 1,061 | 2,139 | |
% YoY growth US$ | 44% | 38% | 122% | 37% | 55% | 54% | 102% | |
% YoY growth LC, ex M&A | 41% | (11%) | 123% | 64% | 34% | 17% | 115% | |
Adjusted EBITDA | (46) | (29) | (23) | (134) | (118) | (100) | (130) | |
% EBITDA margin | (16%) | (7%) | (3%) | (11%) | (17%) | (9%) | (6%) | |
Trading Profit | (57) | (44) | (40) | (154) | (142) | (132) | (165) | |
% TP margin | (20%) | (11%) | (4%) | (13%) | (21%) | (12%) | (8%) | |
Food Delivery | ||||||||
Revenue | 129 | 323 | 464 | 663 | 311 | 737 | 991 | |
% YoY growth US$ | 72% | 150% | 44% | 43% | 94% | 137% | 34% | |
% YoY growth LC, ex M&A | 76% | 242% | 38% | 39% | 114% | 208% | 29% | |
Adjusted EBITDA | (113) | (20) | (105) | (64) | (242) | (58) | (209) | |
% EBITDA margin | (88%) | (6%) | (23%) | (10%) | (78%) | (8%) | (21%) | |
Trading Profit | (115) | (22) | (108) | (70) | (247) | (63) | (216) | |
% TP margin | (89%) | (7%) | (23%) | (11%) | (79%) | (9%) | (22%) | |
Payments & Fintech | ||||||||
Revenue | 177 | 225 | 309 | 412 | 386 | 515 | 686 | |
% YoY growth US$ | 21% | 27% | 37% | 33% | 23% | 33% | 33% | |
% YoY growth LC, ex M&A | 23% | 25% | 40% | 57% | 21% | 32% | 41% | |
Adjusted EBITDA | (23) | (20) | (24) | (76) | (37) | (46) | (39) | |
% EBITDA margin | (13%) | (9%) | (8%) | (18%) | (10%) | (9%) | (6%) | |
Trading Profit | (27) | (24) | (27) | (80) | (44) | (55) | (46) | |
% TP margin | (15%) | (11%) | (9%) | (19%) | (11%) | (11%) | (7%) | |
Edtech2 | ||||||||
Revenue | - | - | 23 | 63 | - | - | 84 | |
% YoY growth US$ | - | - | - | 174% | - | - | - | |
% YoY growth LC, ex M&A | - | - | - | 30% | - | - | - | |
Adjusted EBITDA | - | (4) | (14) | (66) | (1) | (10) | (50) | |
% EBITDA margin | - | - | (61%) | (105%) | - | - | (60%) | |
Trading Profit | - | (4) | (15) | (68) | (1) | (10) | (55) | - |
% TP margin | - | - | (65%) | (108%) | - | - | (65%) | |
Etail | ||||||||
Revenue | 524 | 963 | 1,026 | 843 | 1,360 | 2,244 | 2,249 | |
% YoY growth US$ | (2%) | 84% | 7% | (18%) | 12% | 65% | 0% | |
% YoY growth LC, ex M&A | 13% | 70% | 4% | (4%) | 16% | 54% | 3% | |
Adjusted EBITDA | - | 40 | 10 | (13) | 8 | 102 | 11 | |
% EBITDA margin | 0% | 4% | 1% | (2%) | 1% | 5% | 0% | |
Trading Profit | (13) | 24 | (11) | (37) | (20) | 68 | (35) | |
% TP margin | (2%) | 2% | (1%) | (4%) | (1%) | 3% | (2%) | |
Other | ||||||||
Revenue | 103 | 75 | 41 | 41 | 190 | 144 | 88 | |
% YoY growth US$ | 18% | (27%) | (45%) | 0% | (5%) | (24%) | (39%) | |
% YoY growth LC, ex M&A | 21% | 22% | 78% | 58% | 14% | 21% | 97% | |
Adjusted EBITDA | (14) | (11) | (38) | (38) | (20) | (27) | (80) | |
% EBITDA margin | (14%) | (15%) | (93%) | (93%) | (11%) | (19%) | (91%) | |
Trading Profit | (10) | (11) | (39) | (41) | (27) | (29) | (83) | |
% TP margin | (10%) | (15%) | (95%) | (100%) | (14%) | (20%) | (94%) | |
Corporate | ||||||||
Revenue | - | - | - | - | - | - | - | |
Adjusted EBITDA | (56) | (36) | (75) | (78) | (134) | (104) | (160) | |
Trading Profit | (64) | (40) | (78) | (81) | (140) | (110) | (167) | |
Consolidated from continuing operations | ||||||||
Revenue | 1,224 | 1,987 | 2,753 | 3,240 | 2,938 | 4,701 | 6,237 | |
Adjusted EBITDA | (252) | (80) | (269) | (469) | (544) | (243) | (657) | |
Trading Profit | (286) | (121) | (318) | (531) | (621) | (331) | (767) | |
Discontinued operations3 | ||||||||
Revenue | 193 | 186 | 312 | 540 | 392 | 415 | 629 | |
Adjusted EBITDA | 120 | 91 | 164 | 218 | 220 | 190 | 246 | |
Trading Profit | 110 | 80 | 151 | 210 | 200 | 168 | 220 | |
Total group consolidated | ||||||||
Revenue | 1,417 | 2,173 | 3,065 | 3,780 | 3,330 | 5,116 | 6,866 | |
Adjusted EBITDA | (132) | 11 | (105) | (251) | (324) | (53) | (411) | |
Trading Profit | (176) | (41) | (167) | (321) | (421) | (163) | (547) | |
Notes | ||||||||
1. | Results from owned and managed, consolidated businesses, i.e. excluding associates and JV's. | |||||||
2. | Edtech became a segment from 1 April 2021 and is excluded from Other for all periods represented. | |||||||
3. | Avito is treated as a discontinued operation for 1H FY23 and prior year numbers have been adjusted. We completed its sale in October 2022. |
Classifieds | |||||||
US$'m | 1H FY20 | 1H FY21 | 1H FY22 | 1H FY23 | FY20 | FY21 | FY22 |
Economic interest1 | Prosus Classifieds2 | ||||||
Revenue | 394 | 442 | 988 | 1,339 | 889 | 1,184 | 2,344 |
% YoY growth US$ | 68% | 12% | 124% | 36% | 66% | 33% | 98% |
% YoY growth LC, ex M&A | 50% | (10%) | 115% | 60% | 46% | 16% | 106% |
Trading Profit | (73) | (51) | (42) | (159) | (166) | (159) | (194) |
% TP margin | (19%) | (12%) | (4%) | (12%) | (19%) | (13%) | (8%) |
Classifieds2,3 | |||||||
MAU ('m)2 | 226 | 236 | 317 | 300 | 322 | 314 | |
% YoY growth | 5% | 34% | (100%) | (6%) | 7% | (3%) | |
App MAU ('m)4 | 67 | 79 | 82 | 80 | 69 | 81 | 81 |
% YoY growth | - | 18% | 4% | (2%) | - | 19% | (0%) |
ARPIU | |||||||
% YoY growth US$ | |||||||
% YoY growth LC, ex M&A | |||||||
Paying listers ('m)4 | 1.7 | 1.8 | 2.1 | 2.1 | 1.7 | 1.9 | 2.1 |
% YoY growth | - | 5% | 16% | (2%) | - | 10% | 8% |
Active listings ('m)4 | - | 85 | 88 | 89 | - | 86 | 90 |
% YoY growth | - | - | 3% | 2% | - | - | 5% |
Revenue5 | 257 | 242 | 371 | 353 | 527 | 557 | 725 |
% YoY growth US$ | 27% | (6%) | 53% | (5%) | 25% | 6% | 30% |
% YoY growth LC, ex M&A | 25% | 4% | 28% | 16% | 22% | 7% | 25% |
Trading Profit6 | (10) | 19 | 51 | 47 | (37) | 10 | 49 |
% TP margin | (4%) | 8% | 14% | 13% | (7%) | 2% | 7% |
OLX Autos7 | |||||||
# of inspection centres2 | - | 458 | 513 | 518 | 492 | 528 | |
% YoY growth | - | - | 12% | 77% | (5%) | 7% | |
# of cars transacted ('000)8 | 51 | 35 | 71 | 114 | 112 | 98 | 175 |
% YoY growth | - | (32%) | 103% | 60% | 162% | (12%) | 79% |
B2C mix8,9 | - | - | 20% | 42% | - | 13% | 29% |
Average selling price (US$'000)8 | 5.9 | 6.2 | 8.9 | 8.7 | 5.8 | 6.9 | 9.3 |
% YoY growth | - | 4% | 44% | (2%) | - | 18% | 36% |
Gross profit per unit (US$)8 | - | - | 995 | 638 | - | 746 | 895 |
% YoY growth | - | - | - | (36%) | - | - | 20% |
Revenue | 137 | 200 | 617 | 986 | 362 | 627 | 1,619 |
% YoY growth US$ | 328% | 46% | 209% | 60% | 215% | 73% | 158% |
% YoY growth LC, ex M&A | 209% | (32%) | 218% | 84% | 135% | 27% | 173% |
Trading Profit6 | (63) | (70) | (93) | (206) | (129) | (169) | (243) |
% TP margin | (46%) | (35%) | (15%) | (21%) | (36%) | (27%) | (15%) |
Top markets | |||||||
OLX Europe (US$'m) | |||||||
App MAU % YoY growth4 | 16% | 11% | 6% | 2% | 14% | 10% | 6% |
Paying listers % YoY growth4 | 25% | 6% | 15% | (3%) | 19% | 12% | 4% |
Revenue | 156 | 156 | 218 | 210 | 311 | 341 | 432 |
% YoY growth US$ | - | (0%) | 40% | (4%) | - | 10% | 27% |
% YoY growth LC, ex M&A | - | (3%) | 30% | 14% | - | 9% | 24% |
Trading Profit6 | 55 | 65 | 55 | 40 | 91 | 105 | 73 |
% TP margin | 35% | 42% | 25% | 19% | 29% | 31% | 17% |
Joint venture (equity accounted) | OLX Brasil (BRL'm) | ||||||
App MAU % YoY growth4 | 5% | 21% | -5% | -8% | 4% | 19% | -7% |
Paying listers % YoY growth4 | 19% | -26% | 60% | 2% | 7% | -12% | 50% |
Revenue (proportionate share)10 | 87 | 84 | 193 | 221 | 179 | 242 | 399 |
% YoY growth LC, ex M&A | 25% | (5%) | 40% | 15% | 20% | 2% | 27% |
Trading Profit (proportionate share)10 | (19) | 17 | 44 | 26 | (6) | (8) | 24 |
% TP margin | (22%) | 20% | 23% | 12% | (3%) | (3%) | 6% |
Consolidated11 | Prosus Classifieds2 | ||||||
Revenue | 291 | 401 | 890 | 1,218 | 691 | 1,061 | 2,139 |
% YoY growth US$ | 44% | 38% | 122% | 37% | 55% | 54% | 102% |
% YoY growth LC, ex M&A | 41% | (11%) | 123% | 64% | 34% | 17% | 115% |
Trading Profit | (57) | (44) | (40) | (154) | (142) | (132) | (165) |
% TP margin | (20%) | (11%) | (4%) | (13%) | (21%) | (12%) | (8%) |
Notes | |||||||
1. | Results reported on an economic interest basis, i.e. equity-accounted investments (Associates and JV's) are proportionally consolidated within reportable segments. | ||||||
2. | Avito was Classifieds as a discontinued operation for 1H FY23, and was subsequently sold in October 2022. Classifieds' revenue, trading profit and operational metrics in all comparative periods exclude Avito. | ||||||
3. | Classifieds includes markets where the predominant mix of business is online classifieds (Europe, Brazil, South Africa and other associates). | ||||||
4. | Operational metric data reflects 100% of controlled entities and equity-accounted investments (excluding OfferUp and EMPG). Numbers have been adjusted to reflect like-for-like | ||||||
due to changes in the markets within our portfolio. | |||||||
5. | ARPIU disclosure: We are migrating away from ARPIU since the relevance of the metric to the business has decreased as the business is focused on the monetisation of paying listers. | ||||||
Consequently, this will be the last time we report ARPIU. ARPIU grew 14% in 1H FY23 (fx neutral) to US$1.08 from US$0.95 in 1H FY22. | |||||||
6. | Trading profit in all comparative periods have been adjusted for the allocation of OLX shared services costs to the respective business units. | ||||||
7. | OLX Autos includes markets where autos transaction constitute predominant mix of business (LatAm, USA, India, Indonesia, Pakistan and Turkey). | ||||||
8. | Operational metric data reflects 100% of FCG (including Poland) and letgo Turkey. Numbers have been adjusted to reflect like-for-like due to changes in the markets within our portfolio,. | ||||||
9. | In markets where an established B2C model is operated, including Argentina, Colombia, Chile, Indonesia, Mexico, Poland and Turkey (letgo). | ||||||
10. | Grupo ZAP was consolidated from October 2020 - FY21 includes six months of revenue and trading profit while FY22 includes 12 months. | ||||||
11. | Results from owned and managed, consolidated businesses, i.e. excluding associates and JV's. |
Food Delivery | |||||||
US$'m | 1H FY20 | 1H FY21 | 1H FY22 | 1H FY23 | FY20 | FY21 | FY22 |
Economic interest1 | Prosus Food Delivery | ||||||
GMV2 | - | - | 23,784 | 27,108 | - | 31,846 | 50,965 |
% YoY growth US$ | 73% | 51% | 80% | 14% | 67% | 64% | 60% |
% YoY growth LC, ex M&A | 81% | 69% | 73% | 26% | 76% | 70% | 59% |
Revenue | 306 | 610 | 1,261 | 1,911 | 751 | 1,486 | 2,992 |
% YoY growth US$ | 69% | 99% | 107% | 52% | 99% | 98% | 101% |
% YoY growth LC, ex M&A | 69% | 141% | 86% | 52% | 105% | 127% | 77% |
Trading Profit | (283) | (189) | (312) | (381) | (624) | (355) | (724) |
% TP margin | (92%) | (31%) | (25%) | (20%) | (83%) | (24%) | (24%) |
Prosus core Food Delivery | |||||||
GMV1 | - | - | 22,784 | 24,814 | - | 31,092 | 48,310 |
% YoY growth US$ | - | - | - | 9% | - | - | 55% |
% YoY growth LC, ex M&A | - | - | - | 22% | - | - | 56% |
% of total GMV | - | - | 96% | 92% | - | 98% | 95% |
Prosus New initiatives3 | |||||||
GMV1 | - | - | 1,000 | 2,294 | - | 754 | 2,655 |
% YoY growth US$ | - | - | - | 129% | - | - | 252% |
% YoY growth LC, ex M&A | - | - | - | 110% | - | - | 208% |
% of total GMV | - | - | 4% | 8% | - | 2% | 5% |
Subsidiary4 | iFood | ||||||
Orders ('m)2 | 121 | 250 | 361 | 403 | 276 | 553 | 758 |
% YoY growth | 122% | 116% | 43% | 12% | 95% | 100% | 37% |
% 1P orders | 22% | 35% | 36% | 36% | 25% | 35% | 35% |
GMV2 | 1,227 | 2,232 | 3,531 | 4,501 | 2,611 | 5,015 | 7,383 |
% YoY growth US$ | 85% | 82% | 58% | 27% | 62% | 92% | 47% |
% YoY growth fx neutral, ex M&A | 92% | 156% | 50% | 22% | 82% | 148% | 41% |
Merchants (Brazil) | 116,235 | 237,988 | 294,257 | 323,344 | 159,613 | 272,380 | 317,418 |
Delivery partners (Brazil) | 83,521 | 138,846 | 182,969 | 236,481 | 170,347 | 209,151 | 232,418 |
Cities (Brazil) | 822 | 1,137 | 1,385 | 1,543 | 975 | 1,258 | 1,780 |
Revenue | 132 | 323 | 464 | 663 | 315 | 736 | 991 |
% YoY growth US$ | 74% | 145% | 44% | 43% | 94% | 134% | 35% |
% YoY growth LC, ex M&A | 78% | 234% | 38% | 39% | 113% | 205% | 29% |
Trading Profit | (112) | (17) | (100) | (59) | (247) | (43) | (206) |
% TP margin | (85%) | (5%) | (22%) | (9%) | (78%) | (6%) | (21%) |
iFood core Food Delivery | |||||||
Orders ('m)2 | - | - | 343 | 357 | - | 540 | 705 |
% YoY growth | - | - | - | 4% | - | - | 31% |
GMV2 | - | - | 3,185 | 3,787 | - | 4,812 | 6,514 |
% YoY growth US$ | - | - | - | 19% | - | - | 35% |
% YoY growth LC, ex M&A | - | - | - | 13% | - | - | 30% |
% of total GMV | - | - | 90% | 84% | - | 96% | 88% |
Revenue | - | - | 458 | 606 | - | 728 | 967 |
% YoY growth US$ | - | - | - | 32% | - | - | 33% |
% YoY growth LC, ex M&A | - | - | - | 29% | - | - | 28% |
Trading Profit | - | - | (6) | 45 | - | 1 | (13) |
% TP margin | - | - | - | 7% | - | 0% | (1%) |
iFood New initiatives3 | |||||||
Orders ('m)2 | - | - | 18 | 46 | - | 13 | 53 |
% YoY growth | - | - | - | 152% | - | - | 308% |
GMV2 | - | - | 346 | 715 | - | 203 | 869 |
% YoY growth US$ | - | - | - | 106% | - | - | 328% |
% YoY growth LC, ex M&A | - | - | - | 102% | - | - | 291% |
% of total GMV | - | - | 10% | 16% | - | 4% | 12% |
Revenue | - | - | 6 | 57 | - | 8 | 24 |
% YoY growth US$ | - | - | - | 850% | - | - | 200% |
% YoY growth LC, ex M&A | - | - | - | 833% | - | - | 150% |
Trading Profit5 | - | - | (94) | (104) | - | (44) | (193) |
% TP margin | - | - | (1567%) | (182%) | - | (550%) | (804%) |
Associate | Delivery Hero (DH) | ||||||
GMV (€'m)2,6 | 3,192 | 9,055 | 16,159 | 20,024 | 7,436 | 21,806 | 35,362 |
% YoY growth € | 59% | 64% | 78% | 24% | 67% | 72% | 62% |
% YoY growth fx neutral | 60% | 67% | 86% | 21% | 67% | 79% | 66% |
Revenue (US$'m, proportionate share) | 126 | 234 | 703 | 1,049 | 305 | 615 | 1,755 |
% YoY growth US$ | 39% | 86% | 200% | 49% | 75% | 102% | 185% |
% YoY growth LC, ex M&A | 49% | 87% | 157% | 54% | 85% | 99% | 137% |
Trading Profit (US$'m, proportionate share) | (57) | (100) | (160) | (152) | (143) | (195) | (343) |
% TP margin | (45%) | (43%) | (23%) | (14%) | (47%) | (32%) | (20%) |
DH Integrated Verticals | |||||||
GMV (€'m)2,6 | - | - | 441 | 849 | - | 371 | 1,099 |
% YoY growth € | - | - | - | 92% | - | - | 196% |
% YoY growth fx neutral | - | - | - | 85% | - | - | 209% |
% of total GMV | - | - | 3% | 4% | - | 2% | 3% |
Associate | Swiggy | ||||||
Order2,7 % YoY growth | 243% | (21%) | 31% | 52% | 160% | (33%) | 55% |
GMV2,7 % YoY growth US$ | 189% | (23%) | 62% | 61% | 124% | (25%) | 75% |
GMV2,7 % YoY growth fx neutral | 194% | (20%) | 63% | 73% | 128% | (22%) | 76% |
Enabled restaurants | 118,482 | 148,824 | 156,189 | 262,600 | 152,970 | 132,503 | 196,571 |
Delivery partners | 204,076 | 89,460 | 192,408 | 298,843 | 242,122 | 158,010 | 291,078 |
Cities | 262 | 498 | 482 | 562 | 517 | 484 | 549 |
Revenue (proportionate share) | 48 | 54 | 87 | 150 | 132 | 135 | 212 |
% YoY growth US$ | 220% | 13% | 61% | 72% | 222% | 2% | 57% |
% YoY growth LC, ex M&A | 170% | 17% | 62% | 118% | 182% | 3% | 68% |
Trading Profit (proportionate share) | - | - | (34) | (105) | - | (88) | (100) |
% TP margin | - | - | (39%) | (70%) | - | (65%) | (47%) |
Consolidated8 | Prosus Food Delivery | ||||||
Revenue | 129 | 323 | 464 | 663 | 311 | 737 | 991 |
% YoY growth US$ | 72% | 150% | 44% | 43% | 94% | 137% | 34% |
% YoY growth LC, ex M&A | 76% | 242% | 38% | 39% | 114% | 208% | 29% |
Trading Profit | (115) | (22) | (108) | (70) | (247) | (63) | (216) |
% TP margin | (89%) | (7%) | (23%) | (11%) | (79%) | (9%) | (22%) |
Notes | |||||||
1. | Results reported on an economic interest basis, i.e. equity-accounted investments (Associates and JV's) are proportionally consolidated within reportable segments. | ||||||
2. | Orders and GMV are 100% for all companies. Investee companies' KPIs are aligned with 3-month reporting lag period (January - December). | ||||||
Growth in 1H FY20, FY20, 1H FY21 and FY21 are based on metrics excluding Woowa Group. | |||||||
3. | New initiatives includes grocery, meal vouchers and other initiatives. | ||||||
DH's Integrated Verticals (Dmarts and DH kitchens) are included in Prosus New initiatives | |||||||
Swiggy's Instamart and other initiatives are included in Prosus New Initiatives. | |||||||
4. | iFood Brazil is a subsidiary. iFood Colombia, which was a joint-venture with Delivery Hero, has been closed down and excluded from 1H FY23 operational metrics but still included in the prior periods. | ||||||
5. | New initiatives' trading losses includes iFood corporate costs. | ||||||
6. | As reported by Delivery Hero (DH) on a three-month lag basis. DH's metrics for 1H FY21, FY21 and 1H FY22 include Woowa Group on a pro-forma basis. | ||||||
7. | GMV: Completed order value plus delivery fees. Orders: Completed orders from all delivery businesses. | ||||||
8. | Results from owned and managed, consolidated businesses, i.e. excluding associates and JV's. |
Payments & Fintech | |||||||
US$'m | 1H FY20 | 1H FY21 | 1H FY22 | 1H FY23 | FY20 | FY21 | FY22 |
Economic interest1 | Prosus Payments & Fintech | ||||||
TPV (US$'bn) | 18 | 24 | 35 | 46 | 38 | 55 | 78 |
% YoY growth US$ | 25% | 34% | 49% | 32% | 26% | 45% | 43% |
% YoY growth LC, ex M&A | 30% | 37% | 48% | 49% | 29% | 46% | 47% |
# transactions ('m)2 | 554 | 739 | 1,075 | 1,256 | 1,198 | 1,658 | 2,257 |
% YoY growth | 35% | 33% | 45% | 17% | 30% | 38% | 36% |
% YoY growth, ex M&A | 35% | 25% | 45% | 17% | 28% | 32% | 36% |
Revenue | 199 | 252 | 359 | 480 | 428 | 577 | 796 |
% YoY growth US$ | 16% | 27% | 42% | 34% | 19% | 35% | 38% |
% YoY growth LC, ex M&A | 20% | 29% | 44% | 55% | 21% | 36% | 45% |
Trading Profit | (38) | (31) | (31) | (97) | (67) | (68) | (60) |
% TP margin | (19%) | (12%) | (9%) | (20%) | (16%) | (12%) | (8%) |
Core PSP3 | |||||||
Revenue | 169 | 218 | 294 | 363 | 373 | 499 | 643 |
% YoY growth US$ | 19% | 29% | 35% | 23% | 23% | 34% | 29% |
% YoY growth LC, ex M&A | 20% | 27% | 37% | 47% | 21% | 32% | 37% |
Trading Profit | (7) | 3 | 9 | (25) | (4) | 10 | 28 |
Margin | (4%) | 1% | 3% | (7%) | (1%) | 2% | 4% |
India Payments & Fintech | |||||||
TPV (US$'bn) | 9 | 11 | 19 | 28 | 19 | 27 | 44 |
% YoY growth US$ | 34% | 16% | 72% | 48% | 30% | 37% | 65% |
% YoY growth LC, ex M&A | 35% | 24% | 70% | 59% | 32% | 42% | 66% |
# transactions ('m)2 | 305 | 355 | 543 | 667 | 624 | 792 | 1,146 |
% YoY growth | 39% | 17% | 53% | 23% | 26% | 27% | 45% |
% YoY growth, ex M&A | 39% | 17% | 53% | 23% | 26% | 27% | 45% |
Revenue | - | - | 133 | 183 | - | 206 | 304 |
% YoY growth US$ | 41% | 2% | 56% | 38% | 38% | 18% | 48% |
% YoY growth LC, ex M&A | 34% | 5% | 55% | 48% | 31% | 20% | 49% |
GPO | |||||||
TPV (US$'bn) | 8 | 13 | 16 | 18 | 18 | 28 | 35 |
% YoY growth US$ | 15% | 55% | 28% | 12% | 22% | 54% | 22% |
% YoY growth LC, ex M&A | 25% | 51% | 29% | 38% | 26% | 51% | 30% |
# transactions ('m) | 250 | 384 | 532 | 589 | 574 | 865 | 1,112 |
% YoY growth | 31% | 54% | 39% | 11% | 35% | 51% | 28% |
% YoY growth, ex M&A | 31% | 34% | 39% | 11% | 30% | 37% | 28% |
Revenue | - | - | 163 | 181 | - | 294 | 341 |
% YoY growth US$ | 4% | 55% | 21% | 11% | 11% | 49% | 16% |
% YoY growth LC, ex M&A | 14% | 47% | 25% | 45% | 13% | 45% | 29% |
India Credit & other new initiatives | |||||||
Loan book at end of period | - | 81 | 76 | 279 | - | 64 | 151 |
% YoY growth | - | - | (7%) | 269% | - | - | 136% |
Issuance volume | - | 36 | 175 | 678 | - | 134 | 586 |
% YoY growth | - | - | 382% | 288% | - | - | 337% |
Customers ('m) | - | - | - | 3.9 | - | - | 3.1 |
Loss rate | - | - | - | 3.1% | - | - | 2.8% |
Revenue | - | - | 8 | 41 | - | 9 | 29 |
% YoY growth US$ | - | - | - | 413% | - | - | 222% |
% YoY growth LC, ex M&A | - | - | - | 438% | - | - | 233% |
Associate | Remitly4 | ||||||
Send volumes ('bn) | - | - | 9 | 13 | - | 12 | 20 |
% YoY growth | - | - | - | 41% | - | - | 70% |
Customers ('m) | - | - | 2.4 | 3.4 | - | 1.9 | 2.8 |
% YoY growth | - | - | 43% | - | - | 50% | |
Revenue (US$'m, proportionate share) | - | - | 49 | 67 | - | 57 | 109 |
% YoY growth US$ | - | - | - | 37% | - | - | 91% |
% YoY growth LC, ex M&A | - | - | - | 46% | - | - | 79% |
Trading Profit (US$'m, proportionate share) | - | - | (2) | (14) | - | - | (9) |
% TP margin | - | - | (4%) | (21%) | - | - | (8%) |
Consolidated5 | Prosus Payments & Fintech | ||||||
Revenue | 177 | 225 | 309 | 412 | 386 | 515 | 686 |
% YoY growth US$ | 21% | 27% | 37% | 33% | 23% | 33% | 33% |
% YoY growth LC, ex M&A | 23% | 25% | 40% | 57% | 21% | 32% | 41% |
Trading Profit | (27) | (24) | (27) | (80) | (44) | (55) | (46) |
% TP margin | (15%) | (11%) | (9%) | (19%) | (11%) | (11%) | (7%) |
Notes | |||||||
1. | Results reported on an economic interest basis, i.e. equity-accounted investments (Associates and JV's) are proportionally consolidated within reportable segments. | ||||||
2. | Transactions exclude Wibmo. | ||||||
3. | Core is made up of India payments and GPO (Global Payments Organisation relates to PayU's operations outside of India). | ||||||
4. | Operational metrics are shown at 100% for all companies. Investee companies' operational and financial KPIs (Remitly disclosed here) are aligned with 3-month reporting lag period. | ||||||
5. | Results from owned and managed, consolidated businesses, i.e. excluding associates and JV's. |
Edtech | |||||||
US$'m | 1H FY20 | 1H FY21 | 1H FY22 | 1H FY23 | FY20 | FY21 | FY22 |
Economic interest1 | Prosus Edtech | ||||||
Revenue2 | 28 | 51 | 120 | 334 | 68 | 115 | 425 |
% YoY growth US$ | - | 82% | 135% | 178% | - | 69% | 270% |
% YoY growth LC, ex M&A | - | 54% | 51% | 38% | - | 56% | 55% |
Trading Profit2 | (6) | (13) | (48) | (178) | (19) | (14) | (117) |
% TP margin | (21%) | (25%) | (40%) | (53%) | (28%) | (12%) | (28%) |
Subsidiary | Stack Overflow3 | ||||||
ARR4 (Teams business) | - | - | 30 | 50 | - | - | 42 |
NDRR5 (Teams business) | - | - | 112% | 116% | - | - | 115% |
Total Paying Teams | - | - | 1,220 | 1,262 | - | - | 1,270 |
Bookings (Total Business) | - | - | 17 | 55 | - | - | 65 |
Average monthly unique visitors ('m)6 | - | - | 110 | 93 | - | - | 108 |
Revenue | - | - | 12 | 45 | - | - | 54 |
% YoY growth US$ | - | - | - | 275% | - | - | - |
% YoY growth LC, ex M&A | - | - | - | 33% | - | - | - |
Trading Profit | - | - | (9) | (42) | - | - | (34) |
% TP margin | - | - | (75%) | (93%) | - | - | (63%) |
Subsidiary | GoodHabitz7 | ||||||
ARR4 | - | - | 37 | 38 | - | - | 40 |
Enterprise Customers | - | - | 1,910 | 2,447 | - | - | 2,257 |
Revenue | - | - | 11 | 18 | - | - | 29 |
% YoY growth US$ | - | - | - | 64% | - | - | - |
% YoY growth LC, ex M&A | - | - | - | 27% | - | - | - |
Trading Profit | - | - | (1) | (11) | - | - | (6) |
% TP margin | - | - | (9%) | (61%) | - | - | (21%) |
Associate | Skillsoft8,9 | ||||||
Bookings | - | - | - | 231 | - | 672 | 721 |
% YoY growth | - | - | - | - | - | - | 7% |
ARR4,10 | - | - | - | 336 | - | 317 | 321 |
% YoY growth | - | - | - | - | - | - | 1% |
NDRR5,10 | - | - | - | 98% | - | 93% | 97% |
Revenue (proportionate share)2 | - | - | - | 118 | - | - | 119 |
Trading Profit (proportionate share)2 | - | - | - | 10 | - | - | 11 |
% TP margin | - | - | - | 8% | - | - | 9% |
Consolidated11 | Prosus Edtech | ||||||
Revenue | - | - | 23 | 63 | - | - | 84 |
% YoY growth US$ | - | - | - | 174% | - | - | - |
% YoY growth LC, ex M&A | - | - | - | 30% | - | - | - |
Trading Profit | - | (4) | (15) | (68) | (1) | (10) | (55) |
% TP margin | - | - | (65%) | (108%) | - | - | (65%) |
Notes | |||||||
1. | Results reported on an economic interest basis, i.e. equity-accounted investments (Associates and JV's) are proportionally consolidated within reportable segments. Edtech became a segment from 1 April 2021. | ||||||
2. | Results include one-off adjustments related to associates. i.e. BYJU's prior year accounting adjustment (Revenue -$18m, TP -$61m) and lag period adjustments | ||||||
for BYJU's, Udemy and Skillsoft (Revenue +$62m, TP -$1m). We discontinued equity accounting BYJU's and Udemy from September 2022. | |||||||
3. | Stack Overflow was included for 8 (2) months in FY22 (1H FY22). Operating metrics, revenue and trading profit reflect these inclusion periods. | ||||||
4. | ARR (annualized recurring revenue) represents annualized value of all subscription contracts at the end of the reporting period. | ||||||
5. | NDRR (net dollar retention rate) represents total ARR at the end of the period divided by the total ARR at the beginning of period for active customers at the beginning of the period. | ||||||
6. | Includes Stackoverflow.com and the tech-focused Stack Exchange sites. | ||||||
1H FY23 is based on modelled data due to changes in Google Analytics platform, which is used to track the monthly unique visitors, during the period. | |||||||
7. | GoodHabitz was included for 10 (4) months in FY22 (1H FY22). Operating metrics, revenue and trading profit reflect these inclusion periods. | ||||||
8. | Skillsoft was included for 6 months in FY22. Revenue and trading profit reflect these inclusion periods while operating metrics reflect the full period. | ||||||
9. | Operational metrics are shown at 100% for all companies. Investee companies' operational and financial KPIs (Skillsoft disclosed here) are aligned with 3-month reporting lag period. | ||||||
10. | Relates to Skillsoft's Content platform. FY21 and FY22 were updated to align with this definition as reported by Skillsoft. | ||||||
11. | Results from owned and managed, consolidated businesses, i.e. excluding associates and JV's. |
Etail | |||||||
US$'m | 1H FY20 | 1H FY21 | 1H FY22 | 1H FY23 | FY20 | FY21 | FY22 |
Economic interest1 | Prosus Etail | ||||||
eMAG Group ecommerce GMV | 663 | 1,160 | 1,233 | 1,032 | 1,660 | 2,675 | 2,697 |
% YoY growth US$ | 10% | 75% | 6% | (16%) | 17% | 61% | 1% |
% YoY growth LC, ex M&A | 18% | 62% | 4% | (3%) | 18% | 52% | 3% |
eMAG Genius subscribers ('000) | - | - | 197 | 395 | - | 120 | 335 |
% YoY growth | - | - | - | 101% | - | - | 174% |
Tazz Order % YoY growth, organic | - | - | 497% | 47% | - | 872% | 333% |
Tazz GMV % YoY growth LC, ex M&A | - | - | 563% | 59% | - | 923% | 335% |
Revenue | 525 | 965 | 1,029 | 852 | 1,363 | 2,250 | 2,259 |
% YoY growth US$ | (38%) | 84% | 7% | (17%) | (11%) | 65% | 0% |
% YoY growth LC, ex M&A | 13% | 70% | 4% | (4%) | 16% | 54% | 3% |
Trading Profit | (15) | 24 | (11) | (38) | (20) | 68 | (35) |
% TP margin | (3%) | 2% | (1%) | (4%) | (1%) | 3% | (2%) |
Consolidated2 | Prosus Etail | ||||||
Revenue | 524 | 963 | 1,026 | 843 | 1,360 | 2,244 | 2,249 |
% YoY growth US$ | (2%) | 84% | 7% | (18%) | 12% | 65% | 0% |
% YoY growth LC, ex M&A | 13% | 70% | 4% | (4%) | 16% | 54% | 3% |
Trading Profit | (13) | 24 | (11) | (37) | (20) | 68 | (35) |
% TP margin | (2%) | 2% | (1%) | (4%) | (1%) | 3% | (2%) |
Consolidated2 | Naspers Etail3 | ||||||
Takealot Group GMV | 262 | 407 | 702 | 700 | 603 | 1,022 | 1,493 |
% YoY growth US$ | 42% | 56% | 72% | (0%) | 34% | 69% | 46% |
% YoY growth LC, ex M&A | 54% | 85% | 44% | 15% | 46% | 84% | 34% |
Takealot.com GMV % YoY growth LC, ex M&A | 41% | 88% | 32% | 15% | 37% | 80% | 27% |
Superbalist GMV % YoY growth LC, ex M&A | 76% | 37% | 47% | 15% | 41% | 45% | 42% |
Mr.D Order % YoY growth | 111% | 90% | 88% | 9% | 103% | 107% | 51% |
Mr.D GMV % YoY growth LC, ex M&A | 103% | 101% | 78% | 13% | 91% | 117% | 51% |
Revenue | 169 | 238 | 388 | 383 | 392 | 606 | 827 |
% YoY growth US$ | 25% | 41% | 63% | (1%) | 23% | 55% | 36% |
% YoY growth LC, ex M&A | 25% | 66% | 36% | 13% | 28% | 65% | 27% |
Trading Profit | (22) | (6) | (2) | (13) | (43) | (7) | (7) |
% TP margin | (13%) | (3%) | (0%) | (3%) | (11%) | (1%) | (1%) |
Notes | |||||||
1. | Results reported on an economic interest basis, i.e. equity-accounted investments (Associates and JV's) are proportionally consolidated within reportable segments. | ||||||
2 | Results from owned and managed, consolidated businesses, i.e. excluding associates and JV's. | ||||||
3. | Naspers Etail includes Prosus Etail and Takealot, although the KPIs under Naspers are only for Takealot. |