Prosus (PRX) AGM 2026 summary

Opening remarks and agenda

• The meeting was held in a hybrid format in Amsterdam, with strong in-person and online attendance, and began with a tribute to a long-serving colleague.

• Board members and executive directors from around the world were introduced, and the meeting was declared properly constituted for valid resolutions.

• Voting and Q&A procedures were explained, allowing both in-person and virtual shareholder participation.

Financial performance review

• FY 2026 revenue reached $10.8 billion, with Adjusted EBITDA at $1.3 billion and free cash flow (excluding Tencent) at $275 million, the highest ever.

• Group revenue grew 57% to $9.7 billion, driven by acquisitions and strong organic growth from iFood and OLX.

• Core headline earnings rose to $8.3 billion, up 13%, with operational improvements and share buybacks contributing.

• The balance sheet remains strong, with EUR 9.5 billion in cash and EUR 15.9 billion in debt; 2027 maturities were refinanced.

• $49 billion has been returned to shareholders since June 2022 via dividends and buybacks, with $5 billion more planned this year.

Board and executive committee updates

• Leadership changes included the confirmation of the CEO and CFO, retirement of long-serving directors, and new appointments bringing technology expertise.

• Pedro Arnt and Arnold Goldberg were appointed as independent non-executive directors, with Arnt's formal confirmation scheduled for the next AGM.