Naspers Reports 20% Revenue Growth and 18x E-Commerce EBIT Surge in 2025

Technology investor Naspers has reported robust growth for the financial year ending 31 March 2025, driven by a strong performance across its e-commerce portfolio. Revenue climbed to $7.2 billion, a 20% year-on-year increase from $6.4 billion in 2024, while core headline earnings rose by 46% to $3.1 billion.

E-commerce Drives Financial Performance

The Group’s e-commerce segment was a key growth driver, with revenue up 21% to $7 billion. Adjusted EBIT (aEDBIT) for the segment grew 18-fold to $430 million, reflecting improved operating leverage and cost efficiency. 

Breakdown by segment: 

• Food delivery: Revenue hit $1.3 billion
• Classifieds: Revenue grew to $788 million
• Payments and Fintech: Up 34% to $1.3 billion
• Etail: Increased by 13% to $3.3 billion

Specific platform performance included: 

• iFood aEBIT: Up 178%
• OLX AEBIT: Gained 61%
• eMAG: Achieved profitability

Excluding Tencent, free cash flow improved by $263 million, while the group invested $7.8 billion to expand its artificial intelligence (AI)-native startup portfolio and strengthen regional tech ecosystems. 

Local Investment and Startup Support

In South Africa, NAspers has continued its strategic focus on investing in homegrown startups. To date, the group has invested R780 million in new local ventures, including companies such as Naked Insurance, Nile, and LifeCheq. Over the past 12 months, more than R1 billion was raised by portfolio companies, supported by Naspers’ active portfolio management and fundraising assistance. 

The company reiterated its long-term commitment to investing in sectors such as: 

• Online services marketplaces
• Agritech 
• Fintech 
• Edtech
• Insuretech
• AI

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Naspers Labs

Naspers Labs, the company’s youth development initiative, continues to invest in technology-driven training and employment. In FY25, the programme: 

• Trained over 1800 graduates
• Provided over 100 work opportunities in high-demand fields including Software development, cybersecurity, AI engineering and data science. 

Additionally, Naspers Labs supported two black female-led enterprises in the ICT sector to enhance their capacity to deliver digital skills training. 

Phuthi Mahanyele-Dabengwa, South Africa CEO and Executive Director at Naspers, commented: “Our South African businesses have delivered strong results. I’m proud of the progress we’ve made in building digital platforms that meet local needs, support small businesses, and create new digital career pathways. As South Africa continues its journey of economic renewal, Naspers remains a committed long-term partner in building a more inclusive, innovative digital economy.”