Prosus' strategy for Al-driven growth in global lifestyle and ecommerce markets

PROSUS has structured plans to increase earnings before interest, tax, depreciation, and amortisation (Ebitda) by 3.5 times in three years from the results reported this week, CEO of the Amsterdam based and JSE listed internet group, Fabricio Bloisi said Tuesday.

- EDWARD WEST

He said in a presentation at the Naspers subsidiary's Capital Markets Day that this target would likely also include some acquisitions. He stated that while this was not an overly "aggressive target", the world remained a place of many uncertainties at present, and they did not wish to provide a detailed description of their plans.

He also said that the share buybacks would continue. The group had already bought back 29% of its shares since it listed in 2019. "The discount (to net asset value) that the share is trading at is around 30% at present, a great opportunity, don't lose it," he told an auditorium of investment specialists and researchers, and staff, in Amsterdam.

He said that in the past financial year - the results were published Monday - the strong growth had been based on a 32% increase in dividend from the investment in China internet giant Tencent. The group's Ebitda had increased by more than 100%, group costs had increased by 10%, and the dividend was raised by 100%.