Prosus/OLX H1 2025: Overall Revenues up 20% as Real Estate Revenues Jump 21% YoY

December 4, 2024
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OLX's real estate revenues increased by 21% year-on-year according to Prosus' H1 2025 financial statement released this week.

Highlights include:

  • Overall Prosus revenues increased 20% YoY to $399 million
  • OLX's real estate segment continued its healthy revenue increases by 21% to $73 million
  • Real estate margins increase to 36%
  • Group EBIT improves from a loss of $113m in H1 2024 to a profit of $60m in H1 2025
  • Owner Naspers records revenue increased of 23% YoY, to US$3.4 billion.

Prosus, owned by Naspers, operates a highly diversified set of marketplace businesses across horizontals including food, e-commerce, automotive and real estate in Europe, South Africa and Brazil. The company also has a 38% stake in the Dubizzle Group.

Prosus Classifieds Assets

It was a strong set of results for Prosus, highlighting increased profitability, early-stage investment in AI technologies, improved cash flow and cash reserves, and a claim that the business is ready to create "the next $100 billion in value".

Prosus noted how real estate and motors are the fastest-growing segments and the segments with the highest growth potential in the future.

OLX real estate, driven by Otodom in Poland and Property24 in South Africa, generated revenues of $73 million in H1 FY2025, up from $59 million in the same period last year before increasing to $62 million in the second half of the year.

In other words, half-year to half-year revenues increased by 5% from H1 to H2 2024, and 18% from H2 2024 to H1 2025.

Meanwhile, monthly ARPA continues to achieve double-digit growth year over year, at 11% for the half-year. However, this is slightly lower than recent half-year results (17%, 22%, and 12%, respectively, in H1 2022, 2023, and 2024).

Overall OLX listing revenues increased 230% YoY, though this includes non-real estate assets, namely automotive classifieds websites like AutoTrader.

OLX Brazil recently announced that it is introducing a buyer-paid model for its (non-real estate) horizontal marketplace.

December 4, 2024
Harvey is an experienced property journalist and copywriter. He has written about the property industry since 2015, starting at The Property Franchise Group in the UK, before moving to Spain to work for Spotahome. He has blogged for the private rented sector, ghostwritten for UK property experts and written case studies for franchise owners around the UK. Harvey joined Online Marketplaces as a News Editor in 2022.

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