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Prosus Expects E-Commerce Profit to Surpass $435 Million, Driven by OLX, iFood and Indian Growth

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Dutch technology investment giant Prosus NV announced that its e-commerce business will surpass prior expectations with adjusted EBIT (aEBIT) exceeding $435 million for fiscal year 2025, up from its previous forecast of $400 million.

Key Financial Highlights:

  • E-Commerce Growth: aEBIT has surged from $38 million in FY2024 to over $435 million in FY2025.

  • OLX Group: Classifieds platform OLX posted 20% revenue growth and saw aEBIT rise over 50% to $270 million.

  • iFood in Latin America: aEBIT doubled to more than $200 million, driven by efficiency and market expansion.

  • India Focus: Investments in Swiggy and ride-hailing app Rapido reinforce India’s role as a core growth market. Rapido is reportedly completing over 3 million rides per day and growing at over 100% year-on-year.

CEO Fabricio Bloisi’s Outlook:

  • FY2026 Target: He aims to deliver at least the same level of incremental aEBIT next year.

  • Regional Strategy: Prosus will continue prioritizing India, Brazil, and Southeast Asia, where the company sees strong potential and healthy returns.

  • Indian Investment: Prosus has invested $8.6 billion in India so far and generated significant returns from the Swiggy IPO, which added nearly $2.4 billion to Prosus’ books.

Prosus is set to release its full-year financial results in June.

Equinix Malaysia Explores Alternative Energy Ahead of July Tariff Hike Amid Data Center Expansion

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Equinix Malaysia, the local arm of global data center operator Equinix, is evaluating alternative energy providers to mitigate the impact of a 14.2% electricity tariff increase set to take effect in July, the company said on Wednesday. The tariff hike is expected to significantly raise operational costs, especially for energy-intensive data center operations.

Cheam Tat Inn, managing director of Equinix Malaysia, stated during a media walkabout at the Cyberjaya data center—now completing its second phase—that the company is actively engaging with renewable energy providers, although specific sources and timelines have not been disclosed.

Equinix currently operates two facilities in Malaysia:

  • Cyberjaya with a capacity of 4.8 megawatts (MW)

  • Johor with 2.4 MW, which is fully subscribed following its launch in May 2023.

Cheam added that customer occupancy at the Cyberjaya site is rising rapidly, underscoring strong regional demand for digital infrastructure.

Malaysia is in the midst of a data center boom, with forecasts projecting a fourfold increase in facilities over the next decade from the current 18, collectively demanding over 800MW of electricity. The surge is largely driven by the growing demand for AI and cloud services, with tech giants such as Microsoft, Nvidia, Google, ByteDance, and Oracle investing billions in the country.

Equinix has also been aggressively expanding across Southeast Asia, acquiring three data centers in the Philippines last year and maintaining operations in Indonesia, Malaysia, and Singapore as it positions itself to tap into the region’s digital growth trajectory.