Prosus NV, the South African-Dutch tech powerhouse, is setting ambitious goals for its e-commerce division, targeting $400 million in adjusted earnings before interest and tax (EBIT) for the fiscal year ending March 2025. CEO Fabricio Bloisi shared this vision in a recent letter marking his first 100 days in charge.
“We made significant strides in fiscal year 2024, boosting our e-commerce adjusted EBIT by over $400 million,” Bloisi noted, expressing confidence in maintaining this momentum in the coming year. He highlighted that e-commerce revenue growth in the first half of the year was three times greater than the total EBIT from the previous year, underscoring a strong upward trajectory.
Bloisi emphasized the importance of transforming the e-commerce sector into a major contributor to profitability and free cash flow for the group.
Naspers Ltd., Prosus’s parent company and a leading global tech investor, listed Prosus in Amsterdam about five years ago, maintaining a unified leadership structure. Bloisi now faces the challenge of navigating a complex business legacy, including significant investments in Chinese tech giant Tencent and the tough market conditions affecting various internet businesses under the Prosus umbrella.
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