Naspers (NPN) Trading Update summary

Financial performance highlights

• Core headline earnings per share for continuing operations expected to rise 53.9%–63.2% year-on-year, driven by accelerated growth and improved profitability in Ecommerce and equity-accounted investments, especially Tencent.

• Headline earnings per share for continuing operations anticipated to increase 90.9%–100.0%, reflecting improved profitability and lower impairment charges.

• For total operations, earnings per share are expected to increase 98.4%–107.8%, with headline earnings per share up 98.4%–107.9%.

• Core headline earnings per share for total operations projected to rise 57.1%–66.7%.

• Both Tencent and the Ecommerce segment contributed positively, with Ecommerce exceeding profitability targets.

Strategic outlook and operational focus

• The group plans to build lifestyle ecommerce ecosystems in Latin America, India, and Europe.

• Focus will be on accelerating innovation and leveraging AI-driven technology for sustainable, profitable growth.

• Strategic investments and partnerships have strengthened operational performance.

• More detailed financial results will be published on 23 June 2025.