By Nina Kienle
Technology investor Prosus said it would accelerate investments in iFood after hitting its targets for fiscal 2026.
The Amsterdam-listed company said it hit targets of more than $7.3 billion in revenue and more than $1.1 billion in adjusted earnings before interest, taxes, depreciation, and amortization in ecommerce for the year ended March 31.
All businesses are now profitable, Chief Executive Fabricio Bloisi said in a letter to partners on Tuesday.
Food ordering and delivery platform iFood delivered its full-year targets in a highly competitive market and will see an acceleration in investments to build out and expand products, Bloisi said. The investment will reduce adjusted Ebitda in fiscal 2027 to range between $100 million to $150 million, he added.
Bloisi expects Just Eat Takeaway to return to orders and revenue growth by the end of the year, after four years of decline. More than $3.6 billion in revenue and more than $100 million in adjusted Ebitda is targeted, setting a new baseline, he said.
Looking forward, Prosus will increase investment to compete more aggressively, and accelerate product deployment, Bloisi said.
The group continues to repurchase shares at an around $5 billion annual run rate, he said.
Full-year results are expected to be published in June.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
05-12-26 0306ET
