Internet business performance

Internet performance review

PDF 3MB

Note

  • (1) Presented on an economic-interest basis.

Internet revenues grew 50% (51%) to

US$15.9bn(1)

fuelled by ecommerce and Tencent’s remarkable results

Trading profit rose 50% (56%) to

US$3.1bn(1)

The internet segement now contributes

79%

of group revenue, up from 73% last year

We increased our focus on and investment in

key high-growth areas

such as food delivery

Highlights of the year

Classified

OLX continued to grow around the world and turned profitable and free cash flow positive in the year (excluding letgo).

logos

Payments

PayU enjoyed healthy growth, with total payments volume exceeding US$25bn, and made key investments in Kreditech and Remitly.

logos

Online food delivery

We continued to invest in this promising sector, including a 22% stake in Swiggy and 23% stake in Delivery Hero. Revenue for iFood was up 121% year on year.

logos

Etail

We achieved strong growth across all our etail businesses and eMAG’s Romanian business became profitable. (Post year-end we signed an agreement to sell our stake in Flipkart for US$2.2bn, representing an internal rate of return (IRR) of 32%).

logos

Travel

MakeMyTrip strengthened its leadership in India. In its third quarter, MakeMyTrip delivered 94% year-on-year growth on revenue less service costs, while improving operational efficiencies.

logos

Ventures

We continued to invest in key opportunities such as edtech. Post year-end we invested US$35m in Honor, a mid-stage home-care company that helps older adults live safely and comfortably in their own home by enabling reliable and high-quality care.

logos

Social and internet platforms

Tencent continued to excel in China.

Mail.ru strengthened its position as Russia’s number 1 internet group.

logos

Case studies

Other business segments

Group of people

Video entertainment

We are building Africa’s leading video-entertainment business. The key to our growth and success is to offer our customers great entertainment anywhere, anytime across platforms, including digital terrestrial television, direct-to-home and subscription video-on-demand services.

Video performance
Woman on phone

Media

In our media segment, Media24 is building communities through content, technology and commerce. We are focusing on building a more diversified media player with market-leading mobile content and a portfolio of ecommerce solutions, including efashion, efulfilment and online job classifieds.

Media performance