Naspers, the multinational internet and media group backed by South African billionaire Koos Bekker, delivered a strong financial performance in its 2026 fiscal year, underpinned by rapid growth in its AI-powered ecosystem and disciplined capital allocation.

The group reported a 53% increase in ecosystem revenue to $9.7 billion, while adjusted EBITDA rose 84% to $1.3 billion. Free cash flow reached a record $1.5 billion, highlighting improved operational efficiency and sustained profitability across its global platforms.

Core headline earnings per share climbed 24%, as Naspers returned $46 billion to shareholders through buybacks, contributing to a 16 percentage point net asset value (NAV) accretion. The company also generated $2 billion from non-core asset disposals, reinforcing its capital recycling strategy.

AI ecosystem drives growth and profitability

The group’s performance reflects its transition into an AI-powered lifestyle ecosystem spanning food delivery, fintech, classifieds, and online experiences. Chief Executive Officer Fabricio Bloisi emphasized that artificial intelligence is now embedded across operations, enabling predictive, personalized, and automated services.

Latin America emerged as a major growth engine, led by iFood, which expanded beyond food delivery into fintech and loyalty services. iFood recorded 40% revenue growth, while its fintech arm, iFood Pago, surged 219%, accounting for roughly a quarter of total revenues and reaching profitability. In India, fintech platform PayU achieved a key milestone, turning EBITDA-positive for the first time with revenue rising 13% to $781 million. The business processed approximately $90 billion in total payment volume, reflecting its growing scale in digital payments and credit.

Europe also contributed strongly, with OLX delivering 28% revenue growth and a 53% rise in EBITDA, supported by robust performance across motors, real estate, and jobs segments. Meanwhile, Just Eat Takeaway.com began showing early signs of recovery following its acquisition, with pilot programs delivering order growth of up to 25% in select markets.

South Africa operations reach profitability milestone

In South Africa, Naspers’ local ecosystem achieved a significant milestone as the Takealot Group recorded its first full-year EBIT profitability. Revenue rose 18% to $1 billion, while EBITDA increased 60% to $78 million.

The platform now serves more than 6.2 million active customers, processing over 60 million orders annually. Growth was supported by strong performance across Takealot.com, Mr D, and its logistics arm, Takealot Fulfilment Solutions, which nearly doubled revenue year-on-year.

Group Executive Director Phuthi Mahanyele-Dabengwa described the milestone as a defining moment for South Africa’s digital economy, highlighting the long-term impact of sustained investment in local technology platforms.

Strong outlook backed by capital discipline

Chief Financial Officer Nico Marais noted that Naspers has tripled its ecosystem EBITDA over two years while achieving profitability across all regional segments.

Looking ahead, the group plans to deepen investments in key assets such as iFood and Just Eat Takeaway.com, while continuing its share buyback program and expanding its AI capabilities through platforms like ToqanClaw.

With its ecosystem increasingly interconnected and powered by proprietary data and AI infrastructure, Naspers is positioning itself for sustained long-term growth, as it scales what it describes as the next phase of global digital commerce.

Naspers reaches new heights with unmatched NAV

Naspers, a South African multinational with a global internet, media, and technology presence, boasts a diversified portfolio spanning online retail, publishing, and venture capital, operating across five continents and serving over two billion customers.

Under the leadership of Koos Bekker, the company has evolved from its roots in publishing to a dominant force in e-commerce and cable TV. Despite holding a relatively modest 0.85% stake (1,687,887 shares), Bekker plays a pivotal role in shaping Naspers’ strategic direction.

The company is now focused on harnessing AI opportunities, sustaining key investments, and optimizing operations to drive long-term growth. Since launching its buyback programme, Naspers has generated $36 billion in value, achieving 12% net asset value (NAV) accretion per share, the highest among tech companies globally by market capitalization.