Prosus

Accounting method

US$'m

1H FY19

1H FY20

1H FY212

FY19

FY20

FY21

Ecommerce

Revenue

1 840

1 908

2 608

3 596

4 266

6 230

% YoY growth US$

25%

4%

37%

8%

19%

46%

% YoY growth LC, ex M&A

29%

28%

51%

26%

33%

54%

Adjusted EBITDA

(144)

(299)

(140)

(408)

(660)

(277)

% EBITDA margin

(8%)

(16%)

(5%)

(11%)

(15%)

(4%)

Trading Profit

(169)

(352)

(214)

(454)

(782)

(429)

% TP margin

(9%)

(18%)

(8%)

(13%)

(18%)

(7%)

Classifieds

Revenue

396

587

628

857

1 281

1 599

% YoY growth US$

40%

48%

7%

40%

49%

25%

% YoY growth LC, ex M&A

38%

38%

(3%)

37%

37%

18%

Adjusted EBITDA

50

59

56

10

82

67

% EBITDA margin

13%

10%

9%

1%

6%

4%

Trading Profit

42

37

29

(6)

34

9

% TP margin

11%

6%

5%

(1%)

3%

1%

Food Delivery

Revenue

181

306

610

377

751

1 486

% YoY growth US$

223%

69%

99%

127%

99%

98%

% YoY growth LC, ex M&A

79%

69%

141%

57%

105%

127%

Adjusted EBITDA

(39)

(273)

(168)

(162)

(596)

(313)

% EBITDA margin

(22%)

(89%)

(28%)

(43%)

(79%)

(21%)

Trading Profit

(41)

(283)

(189)

(171)

(624)

(355)

% TP margin

(23%)

(92%)

(31%)

(45%)

(83%)

(24%)

Payments & Fintech

Revenue

171

199

252

360

428

577

% YoY growth US$

36%

16%

27%

22%

19%

35%

% YoY growth LC, ex M&A

33%

20%

29%

28%

21%

36%

Adjusted EBITDA

(22)

(35)

(27)

(39)

(60)

(59)

% EBITDA margin

(13%)

(18%)

(11%)

(11%)

(14%)

(10%)

Trading Profit

(24)

(38)

(31)

(43)

(67)

(68)

% TP margin

(14%)

(19%)

(12%)

(12%)

(16%)

(12%)

Etail

Revenue

849

525

965

1 529

1 363

2 250

% YoY growth US$

5%

(38%)

84%

(17%)

(11%)

65%

% YoY growth LC, ex M&A

23%

13%

70%

19%

16%

54%

Adjusted EBITDA

(74)

(1)

40

(87)

8

102

% EBITDA margin

(9%)

(0%)

4%

(6%)

1%

5%

Trading Profit

(83)

(15)

24

(101)

(20)

68

% TP margin

(10%)

(3%)

2%

(7%)

(1%)

3%

Travel

Revenue

137

146

-

234

146

-

% YoY growth US$

43%

7%

-

11%

(38%)

-

% YoY growth LC, ex M&A

25%

4%

-

20%

8%

-

Adjusted EBITDA

(17)

(19)

-

(36)

(19)

-

% EBITDA margin

(12%)

(13%)

-

(15%)

(13%)

-

Trading Profit

(19)

(21)

-

(37)

(22)

-

% TP margin

(14%)

(14%)

-

(16%)

(15%)

-

Other1

Revenue

106

145

153

239

297

318

% YoY growth US$

4%

37%

6%

9%

24%

7%

% YoY growth LC, ex M&A

19%

25%

35%

19%

23%

34%

Adjusted EBITDA

(42)

(30)

(41)

(94)

(75)

(74)

% EBITDA margin

(40%)

(21%)

(27%)

(39%)

(25%)

(23%)

Trading Profit

(44)

(32)

(47)

(96)

(83)

(83)

% TP margin

(42%)

(22%)

(31%)

(40%)

(28%)

(26%)

Social and internet platforms

Revenue

7 041

8 017

10 082

14 744

17 189

22 526

% YoY growth US$

31%

14%

26%

20%

17%

31%

% YoY growth LC, ex M&A

38%

18%

28%

31%

21%

28%

Adjusted EBITDA

2 236

2 682

3 464

4 369

5 455

7 229

% EBITDA margin

32%

33%

34%

30%

32%

32%

Trading Profit

2 055

2 334

2 983

3 952

4 699

6 154

% TP margin

29%

29%

30%

27%

27%

27%

Associate

Tencent

Revenue

6 905

7 800

9 912

14 457

16 779

22 155

% YoY growth US$

32%

13%

27%

20%

16%

32%

% YoY growth LC, ex M&A

39%

18%

28%

31%

21%

28%

Adjusted EBITDA

2 213

2 599

3 426

4 324

5 328

7 151

% EBITDA margin

32%

33%

35%

30%

32%

32%

Trading Profit

2 043

2 264

2 968

3 929

4 601

6 126

% TP margin

30%

29%

30%

27%

27%

28%

Associate

Mail.ru

Revenue

136

217

170

287

410

371

% YoY growth US$

17%

60%

(22%)

12%

43%

(10%)

% YoY growth LC, ex M&A

30%

22%

20%

27%

26%

21%

Adjusted EBITDA

23

83

38

45

127

78

% EBITDA margin

17%

38%

22%

16%

31%

21%

Trading Profit

12

70

15

23

98

28

% TP margin

9%

32%

9%

8%

24%

8%

Corporate1

Revenue

-

-

-

-

-

-

Adjusted EBITDA

(49)

(56)

(23)

(111)

(134)

(104)

Trading Profit

(51)

(64)

(26)

(121)

(140)

(110)

Economic interest

Revenue

8 881

9 925

12 690

18 340

21 455

28 756

% YoY growth US$

30%

12%

28%

17%

17%

34%

% YoY growth LC, ex M&A

36%

20%

32%

30%

23%

33%

Adjusted EBITDA

2 043

2 327

3 301

3 850

4 661

6 848

% EBITDA margin

23%

23%

26%

21%

22%

24%

Trading Profit

1 835

1 918

2 743

3 377

3 777

5 615

% TP margin

21%

19%

22%

18%

18%

20%

Less: Equity-accounted investments

Revenue

(7 670)

(8 508)

(10 517)

(15 685)

(18 125)

(23 640)

Adjusted EBITDA

(2 101)

(2 459)

(3 277)

(4 115)

(4 985)

(6 901)

Trading Profit

(1 909)

(2 094)

(2 771)

(3 683)

(4 198)

(5 778)

Consolidated

Revenue

1 211

1 417

2 173

2 655

3 330

5 116

Adjusted EBITDA

(58)

(132)

24

(265)

(324)

(53)

Trading Profit

(74)

(176)

(28)

(306)

(421)

(163)

Notes

  1. Corporate costs, previously disclosed in Ecommerce Other, are now included in Corporate.
  2. Unaudited 1H FY21 adjusted EBITDA and trading profit (TP) adjusted to exclude the remeasurement of cash-settled SARs in line with disclosure adopted in October 2021.

Classifieds

Accounting method

US$'m

1H FY19

1H FY20

1H FY218

FY19

FY20

FY21

Prosus Classifieds

Revenue

396

587

628

857

1 281

1 599

% YoY growth US$

40%

48%

7%

40%

49%

25%

% YoY growth LC, ex M&A

38%

38%

(3%)

37%

37%

18%

Trading Profit

42

37

29

(6)

34

9

% TP margin

11%

6%

5%

(1%)

3%

1%

Classifieds

MAU ('m)1,2

306

300

318

321

300

322

% YoY growth

(1%)

(2%)

6%

(1%)

(6%)

7%

Paying listers ('m)1,2

2.92

3.76

3.94

2.83

3.78

4.13

% YoY growth

29%

29%

5%

13%

34%

9%

Revenue

371

441

422

754

888

973

% YoY growth US$3

32%

19%

(4%)

24%

18%

10%

% YoY growth LC, ex M&A3

38%

22%

4%

32%

20%

13%

Trading Profit

46

63

70

14

104

106

% TP margin

12%

14%

17%

2%

12%

11%

Transactions4

# of cars transacted ('000)

-

51

37

43

112

100

% YoY growth

-

-

(28%)

-

162%

(10%)

# of inspection centres5

-

-

445

292

518

535

% YoY growth

-

-

-

-

77%

3%

Average selling price (US$'000)

-

-

-

-

5.8

6.7

% YoY growth

-

-

-

-

-

16%

Revenue

25

146

206

103

393

626

% YoY growth US$

-

484%

41%

-

282%

59%

% YoY growth LC, ex M&A

-

276%

(23%)

-

164%

28%

Trading Profit

(4)

(26)

(41)

(20)

(70)

(97)

% TP margin

(16%)

(18%)

(20%)

(19%)

(18%)

(15%)

Subsidiary

Avito (RUB'bn)

App MAU2 % YoY growth

19%

28%

24%

23%

23%

25%

Paying listers2 % YoY growth

20%

25%

6%

21%

25%

10%

Revenue

10

12

14

21

26

31

% YoY growth LC, ex M&A

31%

21%

10%

28%

22%

20%

Trading Profit

6

7

5

12

13

13

% TP margin

62%

57%

37%

57%

51%

41%

OLX Europe (US$'m)

App MAU2 % YoY growth

-

16%

11%

-

14%

10%

Paying listers2 % YoY growth

-

25%

6%

-

19%

12%

Revenue

-

156

158

-

311

351

Europe

% YoY growth US$

-

-

1%

-

-

13%

% YoY growth LC, ex M&A

-

-

(3%)

-

-

11%

Trading Profit

-

59

68

-

100

114

% TP margin

-

38%

43%

-

32%

32%

Subsidiary

OLX Poland (PLN'm)

App MAU2 % YoY growth

38%

15%

10%

13%

13%

11%

Paying listers2 % YoY growth

22%

19%

2%

47%

18%

6%

Revenue

288

367

358

596

719

772

Poland

% YoY growth LC, ex M&A

45%

27%

(3%)

40%

21%

5%

Trading Profit6

133

172

199

207

304

329

% TP margin

46%

47%

56%

35%

42%

43%

Subsidiary

OLX Autos (US$'m)

Revenue

-

167

219

-

402

649

% YoY growth US$

-

-

31%

-

-

61%

% YoY growth LC, ex M&A

-

-

(25%)

-

-

21%

Trading Profit

-

(44)

(56)

-

(127)

(118)

% TP margin

-

(26%)

(26%)

-

(32%)

(18%)

Joint venture (equity accounted)

OLX Brazil (BRL'm)

App MAU2 % YoY growth

19%

5%

21%

11%

4%

19%

Paying listers2 % YoY growth

29%

19%

(26%)

40%

7%

(12%)

Revenue7

69

87

84

149

179

242

% YoY growth LC, ex M&A

54%

25%

(5%)

44%

20%

2%

Trading Profit

11

(19)

17

23

(6)

(8)

% TP margin

16%

(22%)

20%

15%

(3%)

(3%)

Notes

  1. Decreasing MAU's in 1H FY19, FY19, 1H FY20 and FY20 can be ascribed to certain markets not being included in subsequent years due to M&A activities. These markets Bolivia, Chile, Croatia, Czech Republic, Egypt, Ghana, Kenya, Lebanon, Mexico, Nigeria, Oman, Pakistan, Philippines, Slovakia, Slovenia, UAE (Dubizzle), Uruguay and the US (letgo).
  2. Data reflects full-year averages at 100% of controlled entities and proportionate share of equity-accounted investments (data does not include EMPG, OfferUp). Data in 1H FY21 and FY21 impacted by the Covid-19 lockdowns.
  3. The traditional Classifieds markets revenue growth trend can be ascribed to more of OLX's markets reaching a mature stage, and also focussing on profitability, while 1H FY21 and FY21 was impacted by the Covid-19 pandemic's lockdowns.
  4. We made a minority investment in FCG in May 2018 and accounted for our stake on an economic interest basis. In December 2019 we stepped up and invested for a controlling stake resulting in 100% of revenues and trading losses included in our numbers since December 2019. Transactions measured from FY19.
  5. Covid-19lockdowns forced the temporary closure of some inspection centres in FY21.
  6. 1H19, 1H20, FY19, FY20 TP for OLX Poland restated to illustrate the application of the same technology cost allocation methodology applied in 1H FY21 and FY21.
  7. OLX Brazil acquired Grupo ZAP in October 2020 and Grupo ZAP's revenue (BRL58m) and trading profit (BRL12m) were included in OLX Brazil's from October 2020.
  8. Unaudited 1H FY21 adjusted EBITDA and trading profit (TP) adjusted to exclude the remeasurement of cash-settled SARs in line with disclosure adopted in October 2021.

Food Delivery

Accounting method

US$'m

1H FY19

1H FY20

1H FY215

FY19

FY20

FY21

Prosus Food Delivery

Order1 % YoY growth

77%

110%

53%

100%

102%

52%

GMV1 % YoY growth US$

46%

73%

51%

55%

67%

64%

GMV1 % YoY growth fx neutral

50%

81%

69%

65%

76%

70%

Revenue

181

306

610

377

751

1 486

% YoY growth US$

223%

69%

99%

127%

99%

98%

% YoY growth LC, ex M&A

79%

69%

141%

57%

105%

127%

Trading Profit

(41)

(283)

(189)

(171)

(624)

(355)

% TP margin

(23%)

(92%)

(31%)

(45%)

(83%)

(24%)

Subsidiary 2

iFood

Orders ('m)1

54

121

254

141

276

553

% YoY growth

96%

122%

111%

107%

95%

100%

% 1P orders

5%

22%

35%

10%

25%

35%

GMV1

662

1 227

2 261

1 617

2 611

5 015

% YoY growth US$

53%

85%

84%

56%

62%

92%

% YoY growth fx neutral

83%

92%

152%

84%

82%

148%

Restaurants

57 097

131 956

258 363

81 242

164 306

284 008

Delivery partners (Brazil)

-

83 521

138 846

-

170 347

209 151

Cities (Brazil)

-

822

1 137

500

975

1 258

Revenue

76

132

323

162

315

736

% YoY growth US$

55%

74%

145%

38%

94%

134%

% YoY growth LC, ex M&A

86%

78%

234%

63%

113%

205%

Associate

Delivery Hero

Orders ('m)1,3

167

269

519

369

666

1 304

% YoY growth

50%

61%

93%

49%

80%

96%

% 1P orders3

11%

28%

57%

15%

37%

61%

GMV (€'m)1,3

2 012

3 192

5 146

4 454

7 436

12 361

% YoY growth €

42%

59%

61%

42%

67%

66%

% YoY growth fx neutral

57%

60%

63%

55%

67%

74%

Revenue (US$'m, proportionate share)

91

126

234

174

305

615

% YoY growth US$

1417%

38%

86%

305%

75%

102%

% YoY growth LC, ex M&A

17%

49%

87%

12%

85%

99%

Trading Profit (US$'m, proportionate share)

(23)

(57)

(100)

(50)

(143)

(195)

% TP margin

(25%)

(45%)

(43%)

(29%)

(47%)

(32%)

Associate

Swiggy4

Order1 % YoY growth

319%

165%

-35%

320%

145%

-42%

GMV1 % YoY growth US$

247%

134%

-31%

238%

121%

-31%

GMV1 % YoY growth fx neutral

272%

137%

-27%

265%

125%

-28%

Restaurants

42 579

130 000

148 824

85 000

>160 000

155 036

Delivery partners4

-

204 076

89 460

-

179 194

164 317

Cities4

-

500

498

130

523

489

Revenue (proportionate share)

15

48

54

41

132

135

% YoY growth US$

1400%

220%

13%

583%

222%

2%

% YoY growth LC, ex M&A

200%

170%

17%

267%

182%

3%

Notes

  1. Orders and GMV are 100% for all companies. Investee companies' KPIs are aligned with 3-month reporting lag period (January - December).
  2. iFood Brazil and Columbia are subsidiaries.
  3. As reported by Delivery Hero on a three month lag basis. Including Woowa Group on a pro-forma basis brings own delivery order penetration to 45% for 2020 (Prosus's FY21).
  4. Swiggy was impacted by the Covid-19 pandemic in 1HFY21. Delivery partners and enabled restaurants reduced due to the strict lockdown restrictions imposed. Most of the delivery partners and restaurants have come back onto the platform by end of March 2021.
  5. Unaudited 1H FY21 adjusted EBITDA and trading profit (TP) adjusted to exclude the remeasurement of cash-settled SARs in line with disclosure adopted in October 2021.

Payments & Fintech

Accounting method

US$'m

1H FY19

1H FY20

1H FY214

FY19

FY20

FY21

Prosus Payments & Fintech

TPV (US$'bn)

14

18

24

30

38

55

% YoY growth US$

22%

24%

34%

18%

26%

45%

% YoY growth LC, ex M&A

29%

30%

37%

29%

29%

51%

# transactions ('m)3

409

554

739

920

1 198

1 658

% YoY growth

35%

35%

33%

41%

30%

38%

% YoY growth, ex M&A

35%

35%

25%

41%

28%

32%

Revenue

171

199

252

360

428

577

% YoY growth US$

36%

16%

27%

22%

19%

35%

% YoY growth LC, ex M&A

33%

20%

29%

28%

21%

36%

Trading Profit

(24)

(38)

(31)

(43)

(67)

(68)

% TP margin

(14%)

(19%)

(12%)

(12%)

(16%)

(12%)

Core PSP1

Revenue

142

169

218

304

373

499

% YoY growth US$

20%

19%

29%

19%

23%

34%

Trading Profit

(1)

(5)

6

12

6

15

Margin

(1%)

(3%)

3%

4%

2%

3%

India Credit

Issuance volume2

49

94

36

95

222

134

Growth %

345%

92%

(61%)

215%

134%

(40%)

India Payments & Fintech

TPV (US$'bn)

7

9

11

15

19

27

% YoY growth US$

28%

34%

16%

25%

30%

37%

% YoY growth LC, ex M&A

37%

35%

24%

36%

32%

42%

# transactions ('m)3

218

305

355

495

624

792

% YoY growth

39%

39%

17%

51%

26%

27%

% YoY growth, ex M&A

39%

39%

17%

51%

26%

27%

Revenue % YoY growth US$

25%

41%

(1%)

27%

38%

15%

Revenue % YoY growth LC, ex M&A

34%

34%

5%

38%

31%

20%

GPO

TPV (US$'bn)

7

8

13

15

18

28

% YoY growth US$

17%

15%

55%

13%

22%

54%

% YoY growth LC, ex M&A

21%

25%

51%

23%

26%

51%

# transactions ('m)

191

250

384

426

574

865

% YoY growth

31%

31%

54%

31%

35%

51%

% YoY growth, ex M&A

31%

31%

34%

31%

30%

37%

Revenue % YoY growth US$

18%

5%

53%

14%

10%

49%

Revenue % YoY growth LC, ex M&A

31%

14%

48%

31%

13%

46%

Notes

  1. Core PSP includes India payments, GPO, Wibmo, Iyzico Zooz and Red Dot Payment. Prior periods have been adjusted to reflect like-for-like.
  2. Issuance volume includes PayU's own product volumes and 100% of PaySense.
  3. Transactions exclude Wibmo.
  4. Unaudited 1H FY21 adjusted EBITDA and trading profit (TP) adjusted to exclude the remeasurement of cash-settled SARs in line with disclosure adopted in October 2021.

Etail

Accounting method

US$'m

1H FY19

1H FY20

1H FY213

FY19

FY20

FY21

Subsidiary

Prosus Etail

GMV

602

663

1 160

1 423

1 660

2 675

% YoY growth US$

24%

10%

75%

17%

17%

61%

% YoY growth LC, ex M&A

24%

18%

62%

22%

18%

52%

Revenue1

849

525

965

1 529

1 363

2 250

% YoY growth US$

5%

(38%)

84%

(17%)

(11%)

65%

% YoY growth LC, ex M&A

23%

13%

70%

19%

16%

54%

Trading Profit1

(83)

(15)

24

(101)

(20)

68

% TP margin

(10%)

(3%)

2%

(7%)

(1%)

3%

Naspers Etail2

Subsidiary

Takealot

GMV

184

262

407

447

603

1 022

% YoY growth US$

55%

42%

56%

43%

35%

69%

% YoY growth LC, ex M&A

59%

54%

85%

53%

46%

84%

Revenue

135

169

238

318

392

606

% YoY growth US$

309%

25%

41%

69%

23%

55%

% YoY growth LC, ex M&A

31%

25%

66%

25%

28%

65%

Trading Profit

(23)

(22)

(6)

(50)

(43)

(7)

% TP margin

(17%)

(13%)

(3%)

(16%)

(11%)

(1%)

Notes

  1. Flipkart was disposed during FY19. Accordingly 7 months of Flipkart are included in 1H FY19, including a catch up of the 3-month lag period, and FY19.
  2. Naspers Etail includes Prosus Etail and Takealot, although the KPIs under Naspers are only for Takealot.
  3. Unaudited 1H FY21 adjusted EBITDA and trading profit (TP) adjusted to exclude the remeasurement of cash-settled SARs in line with disclosure adopted in October 2021.

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Prosus NV published this content on 21 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 June 2021 09:58:00 UTC.