Slide 1: Naspers Limited Financial results for the year ended 31 March 2020
Naspers Limited Financial results for the year ended 31 March 2020
Slide 2: Important information
Important information This report contains forward-looking statements as defined in the United States Private Securities Litigation Reform Act of 1995 concerning our financial condition, results of operations and businesses. These forward-looking statements are subject to a number of risks and uncer
Slide 3: Strategic & Operational Update
3 STRATEGIC & OPERATIONAL UPDATE
Slide 4: 2020 was a transformative and value creating year
2020 was a transformative and value creating year Created Europe’s largest September 2019 January 2020 consumer internet company Created Europe’s largest Returned R22.4bn of capital consumer internet company to shareholders Listed Prosus, Naspers’s international internet asset portfolio, on Launched
Slide 5: Naspers today
Naspers today 72.5% International internet assets Note: Prosus is listed on the Euronext Amsterdam with a secondary inward listing on the Johannesburg Stock Exchange (JSE). Naspers owns 72.5% of Prosus. 5
Slide 6: Sustainable leadership positions
Sustainable leadership positions International South Africa #1 in South Africa US$113bn Market capitalisation1 #1 in South Africa #1 in South Africa Largest Consumer Internet Company in Europe 1 Source: Bloomberg, priced at 31 March 2020 6
Slide 7: Prosus: Accelerating growth across core segments
Prosus: Accelerating growth across core segments Strong financial Strong growth in Strategic M&A and performance core segments Corporate action 112k Listed Europe's largest consumer internet 23% YoY Revenue growth1 Classifieds +22% #cars sold at inspection company Paying listers centers 21% Social &
Slide 8: Takealot: Continued growth in ecommerce and food delivery
Takealot: Continued growth in ecommerce and food delivery GMV (US$m)1 35% (46%) General Fashion 603 447 Food delivery Logistics FY19 FY20 Trading loss (US$m)1 #1 ecommerce retailer in South Africa (50) (43) Marketplace GMV grew by 77% 14% (20%) FY19 FY20 Mr D grew orders up by 103% and GMV by 94%2 1
Slide 9: Media24: Strategic drive to sustainable digital media
Media24: Strategic drive to sustainable digital media Revenue (US$m)1 Online news Newspapers -17% (-6%) 326 272 Magazines Publishers FY19 FY20 Trading profit/(loss) (US$m)1 SA’s leading media Company +US$22m 19m average monthly unique browsers on digital 8 platforms (14) Netwerk24 is the largest pay
Slide 10: Supporting SA's entrepreneurs build tech companies
Supporting SA’s entrepreneurs build tech companies Invested R100m in Aerobotics Provider of early pest and disease detection for tree crops using AI and drone imagery Committed R1.4bn A South Africa-focused early-stage business funding initiative that helps talented and ambitious Naspers Foundry’s f
Slide 11: Enabling South Africa's youth
Enabling South Africa’s youth 2 030 young people graduated 956 young people achieved employment placements Invested R58,5m 1 Our flagship social impact project designed to Expanded the programme to include accredited transform and launch South Africa’s unemployed qualifications in Cyber Security, So
Slide 12: Supporting our people and South Africa during Covid-19
Supporting our people and South Africa during Covid-19 Prioritising the safety of employees across all businesses Enhanced hygiene practices for staff and contactless with remote working where possible and protective delivery and collection for our customers and drivers measures for our customer fac
Slide 13: Financial Review
FINANCIAL REVIEW NASPERS
Slide 14: Naspers Summary of Financials
Naspers Summary of Financials Summary financials (US$bn)1 1 Strong revenue growth and improved profitability from Prosus Revenue2 Trading profit2 17% (23%) 13% (17%) 2 Strong growth by Takealot with 5p.p margin improvement 22.1 3.4 3.7 19.0 3 Increased profitability by Media24, despite lower revenue
Slide 15: Composition of the Naspers Group
Composition of the Naspers Group Revenue EBITDA1 Trading profit FY19 FY20 FY19 FY20 FY19 FY20 Prosus Group 18 340 21 455 3 850 4 662 3 377 3 777 Takealot 318 392 (46) (29) (50) (43) Media 326 272 (7) 15 (14) 8 Corporate and other 6 17 (8) (10) (9) (17) Economic interest 18 990 22 136 3 789 4 638 3 3
Slide 16: Core headline earnings reconciliation
Core headline earnings reconciliation US$m FY19 FY20 Headline earnings from continuing operations 3 719 2 206 Equity-settled share-based payment expenses 561 494 Amortisation of other intangible assets 295 316 Retention option expense 11 42 Recognition of deferred tax assets (36) - Tax paid on cance
Slide 17: Prosus vs Naspers core headline earnings reconciliation
Prosus vs Naspers core headline earnings reconciliation US$m Naspers Prosus Difference Headline earnings from continuing operations 2 206 2 795 (589) Equity-settled share-based payment expenses 494 608 (114) Amortisation of other intangible assets 316 363 (47) Retention option expense 42 56 (14) Tax
Slide 18: Net cash profile
Net cash profile Net cash of US$4.8bn at 31 March 2020 252 3 515 Naspers cash Prosus cash Prosus interest bearing debt 8 022 Note: Naspers and Prosus cash includes short-term investments and overdraft. 18
Slide 19: Current assets and liabilities
Current assets and liabilities Current assets (US$m) FY19 FY20 Current liabilities (US$m) FY19 FY20 Inventory 209 260 Current portion of long-term debt 23 67 Trade receivables 172 139 Trade payables 287 322 Other receivables and loans 522 542 Accrued expenses & other current liabilities 1 261 1 760
Slide 20: Glossary
Glossary — ABB: Accelerated bookbuild — M&A: Mergers and acquisitions — EBITDA: Earnings before interest tax, depreciation and amortization — NAV: Net asset value — FCF: Free cash flow — SA: South Africa — FX: Foreign exchange — SARB: South African Reserve Bank — GMV: Gross merchandise value — TP: T
Slide 21: Naspers Group portfolio
Naspers Group portfolio Organogram depicts effective percentage holdings in major entities at 31 March 2020 for Prosus where applicable 1 OLX owns 50% of operations in Brazil and 66% of Indonesia 2 Movile holds 67% of iFood 3 The Dubizzle and EMPG merger completed in April 2020. Following the transa
Slide 22: Contact us
Contact us Eoin Ryan (Head of Investor Relations) InvestorRelations@Naspers.com https://www.naspers.com/ 22