Prosus (Economic Interest)
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 (Consolidated)
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
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$0.95 in 1H FY22.
6. Trading profit in all comparative periods have been adjusted for the allocation of OLX shared services costs to the respective business units.
7. OLX Autos includes markets where autos transaction constitute predominant mix of business (LatAm, USA, India, Indonesia, Pakistan and Turkey).
8. Operational metric data reflects 100% of FCG (including Poland) and letgo Turkey. Numbers have been adjusted to reflect like-for-like due to changes in the markets within our portfolio,.
9. In markets where an established B2C model is operated, including Argentina, Colombia, Chile, Indonesia, Mexico, Poland and Turkey (letgo).
10. Grupo ZAP was consolidated from October 2020 - FY21 includes six months of revenue and trading profit while FY22 includes 12 months.
11. Results from owned and managed, consolidated businesses, i.e. excluding associates and JV's.
Food Delivery
Food Delivery
US$'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
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
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 -$1m). We discontinued equity accounting BYJU's and Udemy from September 2022.
3. Stack Overflow was included for 8 (2) months in FY22 (1H FY22). Operating metrics, revenue and trading profit reflect these inclusion periods.
4. ARR (annualized recurring revenue) represents annualized value of all subscription contracts at the end of the reporting period.
5. NDRR (net dollar retention rate) represents total ARR at the end of the period divided by the total ARR at the beginning of period for active customers at the beginning of the period.
6. Includes Stackoverflow.com and the tech-focused Stack Exchange sites.
1H FY23 is based on modelled data due to changes in Google Analytics platform, which is used to track the monthly unique visitors, during the period.
7. GoodHabitz was included for 10 (4) months in FY22 (1H FY22). Operating metrics, revenue and trading profit reflect these inclusion periods.
8. Skillsoft was included for 6 months in FY22. Revenue and trading profit reflect these inclusion periods while operating metrics reflect the full period.
9. Operational metrics are shown at 100% for all companies. Investee companies' operational and financial KPIs (Skillsoft disclosed here) are aligned with 3-month reporting lag period.
10. Relates to Skillsoft's Content platform. FY21 and FY22 were updated to align with this definition as reported by Skillsoft.
11. Results from owned and managed, consolidated businesses, i.e. excluding associates and JV's.
Etail
Etail
US$'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.

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Naspers Limited published this content on 23 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 November 2022 08:24:01 UTC.