Prosus, led by South African billionaire Koos Bekker, targets $3.6 billion Just Eat revenue

Prosus N.V., the global internet investor led by South African billionaire Prosus N.V., is aiming to generate about $3.6 billion in annual revenue from Just Eat Takeaway.com within a year, as it works to steady and simplify operations in its European food delivery business.

The target was outlined by CEO Fabricio Bloisi in a shareholder letter released Tuesday. He said the group also expects Just Eat Takeaway.com to reach about $100 million in adjusted EBITDA by the end of its 2027 financial year, which closes in March. The outlook comes as the food delivery sector continues to consolidate across Europe, with companies under pressure to control costs and stabilize order volumes after several years of uneven demand.

Bloisi said Prosus expects Just Eat to return to revenue and order growth by the end of this year. He cited internal market tests showing that in some cities order volumes have grown at more than 25% annually when operations are adjusted under Prosus commerce model. Prosus is betting that tighter integration across platforms will reduce duplication and improve execution.

Prosus reports $7.3 billion revenue

For its 2026 financial year, Prosus reported $7.3 billion in revenue and $1.1 billion in e-commerce-adjusted EBITDA, excluding contributions from Just Eat and French online auto marketplace La Centrale. La Centrale is expected to feed into OLX, Prosus’ classifieds business, which reached more than $450 million in adjusted Ebitda during the period.

Prosus acquired Just Eat last year, expanding its presence in European food delivery markets including the United Kingdom, Germany, and the Netherlands. The deal also came with regulatory conditions. As part of commitments made to the European Commission, Prosus agreed to reduce its stake in rival Delivery Hero to address competition concerns.

The company has since been trimming that position. It recently sold 5 percent of its stake in Delivery Hero to Hong Kong-based Aspex Management for €335 million ($394 million), following an earlier sale of 4.5 percent to Uber Technologies for €270 million ($318.5 million). The deals were completed at premiums to recent trading levels, according to Prosus disclosures.

Prosus $5 billion annual buybacks

At the same time, Prosus continues to return capital to shareholders through buybacks running at an annual pace of about $5 billion, part of a broader program that the company says will distribute up to $50 billion over time across Prosus and its parent company Naspers Limited.

The group is also increasing investment in Brazil-based iFood, one of its key food delivery assets. Bloisi said the business will now see adjusted Ebitda guidance reduced to between $100 million and $150 million for the 2027 year, reflecting higher spending as it expands.

Prosus, founded in 1997 and chaired by Koos Bekker, who also holds a stake worth more than $500 million, has built a portfolio spanning fintech, online retail, education technology and food delivery. Over the past year, it has also sold about $2 billion in non-core assets, alongside additional proceeds from its reduced holding in Delivery Hero.