Wrap Text
Trading statement
Prosus N.V.
(Incorporated in the Netherlands)
(Legal Entity Identifier: 635400Z5LQ5F9OLVT688)
AEX and JSE Share Code: PRX ISIN: NL0013654783
("Prosus")
Trading statement
Shareholders are advised that the Prosus group ("the Group") is finalising its consolidated financial statements for the
year ended 31 March 2026.
Prosus N.V. ("Prosus") is a subsidiary of Naspers Limited ("Naspers"), a company incorporated in South Africa and listed
on the Johannesburg Stock Exchange ("JSE") in South Africa.
For context, in terms of the JSE Listings Requirements, South African listed entities with a primary listing on the
exchange issue a trading statement under certain conditions. Naspers has released a statement in anticipation of its
financial results to be released on Monday, 29 June 2026.
The financial results of Prosus almost completely account for Naspers's results. To ensure that shareholders of Prosus
are provided with equivalent information simultaneously, Prosus is issuing this voluntary trading statement.
The financial year ended March 2026, marked a milestone for Prosus: we delivered on our ambitious targets, generating
over US$7.3 billion in revenue and US$1.1 billion in Ecosystem(formerly called Ecommerce) adjusted EBITDA. Every one
of our ecosystems is now profitable, and our free cash flow — excluding Tencent — continues to grow. We have
completed our transformation from a traditional holding company into an active operator of AI-driven lifestyle
ecosystems across Latin America, Europe and India.
Core headline earnings per ordinary share N for continuing operations for the period are expected to increase between
19.0%-28.0%. The board considers core headline earnings a useful indicator of the operating performance of the Group,
as it adjusts for non-operational items.
Headline earnings per ordinary share N for continuing operations will rise between 6.7%-15.7%.
Both of the above measures are driven by strong growth in revenue and profitability of our consolidated businesses
and equity accounted investments, most notably Tencent. Core headline earnings per share outpaced headline
earnings, as the core measure excludes fair value investment losses recognised in Tencent's earnings.
Earnings per ordinary share N for continuing operations during the period is expected to range between (2.6%)-6.4%.
This is primarily driven by the Group's improved overall profitability across consolidated businesses in LatAm, Europe
and India as well as stronger equity accounted results, primarily from Tencent. This was offset by a lower gain from the
sale of our Tencent shareholding - reflecting fewer shares sold in the period - and increased unrealised foreign currency
losses on translation of the euro-denominated bonds to the group's US dollar reporting currency.
Illustrated below are the anticipated changes in earnings, headline earnings and core headline earnings per share for
continuing operations for the year ended 31 March 2026 as compared to 31 March 2025 for continuing and total
operations:
31 March 2025 31 March 2026 Expected
Continuing operations US cents expected increase increase
US cents %
Earnings per ordinary share N(1) 519 (13)-33 (2.6%)-6.4%
Headline earnings***per ordinary share N(1) 258 17-41 6.7%-15.7%
Core headline earnings**** per ordinary share N(1) 306 58-86 19.0%-28.0%
31 March 2025 31 March 2026 Expected
Total operations US cents expected increase increase
US cents %
Earnings per ordinary share N(1) 514 (8)-38 (1.5%)-7.4%
Headline earnings***per ordinary share N(1) 256 19-43 7.6%-16.7%
Core headline earnings**** per ordinary share N(1) 304 60-88 19.8%-28.8%
More details will be published with the consolidated financial statements on Monday, 29 June 2026.
Financial information on which this trading statement is based has not been subject to an independent audit or review
by the Group's auditors.
*** Headline earnings represents net profit for the year attributable to the Group's equity holders, excluding certain
defined separately identifiable remeasurements relating to, amongst others, impairments of tangible assets, intangible
assets (including goodwill) and equity-accounted investments, gains and losses on acquisitions and disposals of
investments as well as assets, dilution gains and losses on equity-accounted investments, remeasurement gains and
losses on disposal groups classified as held for sale and remeasurements included in equity-accounted earnings, net of
related taxes (both current and deferred) and the related non-controlling interests. These remeasurements are
determined in accordance with Circular 1/2023, headline earnings, as issued by the South African Institute of Chartered
Accountants, at the request of the JSE Limited in relation to the calculation of headline earnings and disclosure of a
detailed reconciliation of headline earnings to the earnings numbers used in the calculation of basic earnings per share
in accordance with the requirements of IAS 33 – Earnings per Share, under the JSE Listings Requirements.
**** Core headline earnings, a non-IFRS performance measure, represents headline earnings, excluding certain non-
operating items. Specifically, headline earnings are adjusted for the following items to derive core headline earnings: (i)
equity-settled share-based payment expenses on transactions where there is no cash cost to the group. These include
those relating to share-based incentive awards settled by issuing treasury shares as well as certain share-based
payment expenses that are deemed to arise on shareholder transactions; (ii) subsequent fair value remeasurement of
cash-settled share-based incentive expenses; (iii) cash-settled share-based compensation expenses deemed to arise
from shareholder transactions by virtue of employment; (iv) deferred taxation income recognised on the first-time
recognition of deferred tax assets as this generally relates to multiple prior periods and distorts current-period
performance; (v) fair value adjustments on financial instruments and unrealised currency translation differences, as
these items obscure the group's underlying operating performance; (vi) gains, losses and restructuring expenses
(including acquisition-related costs) resulting from acquisitions and disposals of businesses as these items relate to
changes in the group's composition and are not reflective of the group's underlying operating performance; and (vii) the
amortisation of intangible assets recognised in business combinations and acquisitions as these expenses are not
considered operational in nature. These adjustments are made to the earnings of businesses controlled by the group as
well as the group's share of earnings of associates and joint ventures, to the extent that the information is available.
(1) Per share information is based on the net number of N ordinary shares in issue during the respective periods. The A
ordinary shareholders and B ordinary shareholders share 1/5 th and 1/1 000 000th respectively of the earnings
attributable to the external N shareholders as at 31 March 2026. The earnings will be expected to increase in the same
ratio as N ordinary shareholders.
19 June 2026
Symphony Offices
Gustav Mahlerlaan 5
1082 MS Amsterdam
The Netherlands
Sponsor:
Investec Bank Limited
Date: 19-06-2026 08:07:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
