Prosus N.v. Class N · EURONEXT:PRX
Prosus N.v. Class N — Merger or Acquisition (February 2025)
15 slides from Prosus N.v. Class N's merger presentation, Feb 24, 2025
Slide 1: Prosus to Acquire Just Eat Takeaway.com
Prosus to Acquire Just Eat Takeaway.com Significantly enhancing the Prosus Food Ecosystem
Slide 2: Proposed transaction summary
Proposed transaction summary Prosus and Just Eat Takeaway.com (“JET”) have entered into a conditional agreement for 1 Prosus to acquire all outstanding shares of JET for an aggregate consideration of €4.1 billion1 €20.30 per share offer price represents a 49% premium to the 3M VWAP and a 22% premium
Slide 3: JET fits well with Prosus' strategy
JET fits well with Prosus’ strategy 1 2 3 Prosus has a strong track JET has strong positions Prosus has a clear plan record of innovation, and is profitable in key to accelerate JET’s growth and profitability markets with growth performance expressed through an potential ecosystem strategy 3
Slide 4: Prosus is building a strong global ecosystem
Prosus is building a strong global ecosystem Marketplaces Marketplace & Fintech mutually reinforcing each other Fintech Prosus Expertise & Investment in AI Re-imagine with (Gen)AI: Better Products; Better Companies 4
Slide 5: Underpinned by global food delivery leadership
Underpinned by global food delivery leadership Gross Transaction Value (€bn) 136 Prosus pro forma GTV includes proportionate ownership of fully and partially owned stakes #1 Outside of US and China 71 74 53 49 19 11 14 5 7 9 2 2 Prosus % Pro 25% 100% 28% 4% ownership Forma1 5 Source: Company filings
Slide 6: JET's geographic presence is highly complementary to Prosus' investment footprint
JET’s geographic presence is highly complementary to Prosus’ investment footprint Increased global presence With JET, Prosus will … Create a platform with €53bn in GTV and €10bn revenue1 Hold a leading position in ~60 markets2 Serve 100s of millions customers through >4m riders3 Empower millions of
Slide 7: JET is a leader in key markets with growth potential
JET is a leader in key markets with growth potential Key stats Overview of 3 largest markets €18.9bn 2024A GTV Position #1 #1 #1 €313m 2024A Adj. EBITDA1 1.7% Margin 2 653m Orders 38% Share 3 3 80% 83% 356,000 Partners Market size4 ~€19bn ~€5bn ~€4bn 61m Customers Online food penetration5 ~13% ~2% ~
Slide 8: JET has improved profitability, but growth has been challenged
JET has improved profitability, but growth has been challenged GTV in €bn Adj. EBITDA1 in €m Free cash flow2 in €m 1% Adj. EBITDA 1% 2% Cash 4% 32% Margin Conversion3 18.6 18.9 29ppt improvement 28% 313 101 245 9 2023A 2024A 2023A 2024A 2023A 2024A 8 Source: Company filings. Financials excluding Gru
Slide 9: Prosus' food playbook will accelerate growth at JET
Prosus’ food playbook will accelerate growth at JET 4 key delivery Tech/product Demand generation Offer quality Service level success drivers iFood has a proven track record Results Efficiency Loyalty Strong profitable topline growth Delivery cost2 Clube3 exponential growth Revenue (BRLm)1 15% Deliv
Slide 10: AI has powered growth at iFood and across Prosus' portfolio
AI has powered growth at iFood and across Prosus’ portfolio iFood AI Case Study iFood has a long history of investing in AI and embedding it in its workflows to: • acquire customers efficiently • reduce and prevent fraudulent activity across the platform • better and more efficiently serve and suppo
Slide 11: Creating the #1 ecommerce company in Europe
Creating the #1 ecommerce company in Europe JET further complements ... as the largest consumer internet company the European portfolio we are building… listed in Europe Market Cap (€bn) 107 FO IT OD RED C D E D LI AN VE T RY EN YM PA 56 13 10 CL 8 8 8 7 6 6 4 AS CE SI ER IE M F D S OM EC 11 Source:
Slide 12: As we are doing in LatAm
As we are doing in LatAm ▪ ~100M Customers1 PAYMENT AND ▪ ~$20B GMV FOOD DELIVERY CREDIT ▪ +$500M in ecommerce EBIT2 ▪ Strong synergies EVENTS ONLINE TRAVEL ▪ Opportunity to create an AI First offering in the region CLASSIFIEDS 12 Notes: 1 Estimated based on ~60M iFood customers, ~50 M OLX Brazil cu
Slide 13: JET fits well with Prosus' strategy
JET fits well with Prosus’ strategy 1 2 3 Prosus has a strong track JET has strong positions Prosus has a clear plan record of innovation, and is profitable in key to accelerate JET’s growth and profitability markets with growth performance expressed through an potential ecosystem strategy 13
Slide 14: Forward looking statements
Forward looking statements The information contained in this presentation may contain forward-looking statements, estimates and projections. Forward-looking statements involve all matters that are not historical and may be identified by the words “anticipate”, ”believe”, ”estimate”, ”expect”, ”inten
Slide 15: For further information
For further information Visit our website | www.prosus.com or www.naspers.com Email | InvestorRelations@prosus.com