Naspers Ltd S/Adr

Hello, partners. How are you? Welcome to our results call. I hope you received and you enjoyed our results today. I'm quite excited to what we shared today. At the same time, we could share a little more about our growth. Not only that we are growing 20%, but even more important, that our ecosystem thesis is working. So I enjoyed very much to share the numbers of Despegar. It's not only 5% of Despegar revenue coming from the iPhone ecosystem, but we share the data week by week. You can see a very strong growth. I'm quite confident we'll get to 10%, 15% in the short term. So this is the base of our thesis, our ecosystem thesis. We are growing very fast in iPhone, but we're pushing Despegar to grow together At the same time, we could share a little of our numbers in terms of results. You saw it grow 70% to $530 million. I think it's great to share this number with you. One year ago, I told you I expect us to have more profit than a decent dividend, and I expect us to get to multiple billion dollars of profit. And many people said, I can't see process doing that. So hope you can see profits doing that today. We are going to get between $1.1 to $1.2 billion in profits in EBITDA this year, excluding JET and Nascent Val. So we can expect $1.2, $1.3, $1.4 billion of EBITDA this year. And fourth floor, total billion dollars of profits in the next few years. So I'm quite excited about our numbers in terms of results. We keep the discipline. We sold 1.2 billion, but we are on track to sell at least $2 billion these years of our assets. We keep our buyback. Now we bought back more than $40 billion, generated more than $60 billion in results. So I think we keep the discipline, we keep the growth, but I want to reinforce, all of that is the foundation to how we are going to build a much bigger company. So innovation is growing amazingly with our process. I wanted to do a bigger session on innovation now, but because of the timing, we decided to focus on numbers today. But in a few weeks, by December 15, maybe January 15, we are going to make a much longer presentation on how AI is changing our lives in terms of life and commerce models, in terms of assistance. You saw we had 20,000 assists already. So I could talk a lot about innovation. I hope you'll make questions about that. It's quite exciting. So, our moment now is execution, execution, execution. We have some discipline also in M&As. A few M&As are focusing growth. For example, the Indian ones, Ixibo and Hapdo, they are growing, Hapdo is growing more than 120% year over year. We are very excited about that. A few M&As are increasing our profitability, like La Central, Jet, and Despedar. So I think the company is doing good. I'm excited about the results. Hope you have many exciting questions for us today. And my priority now is to execute both of those few billion dollars in results. We are just getting started. We really want to build at least $100 billion outside of Tencent and one of the best tech companies in the world. Let's talk more about that today. So let's go for our questions.

Mr. Owen, Ray and Gaida, speaking of just getting started, let's get started on the Q&A, shall we? Catherine, why don't you, if you could, remind the audience how to ask a question, please, and then I'll start off with a quick question. Please, Catherine.

Ladies and gentlemen, we will now begin our Q&A session. If you have a question, we ask that you please use the raise hand function at the bottom of your Zoom screen. Once called upon, please unmute your audio to ask your question. If you have joined via a phone line, please press star 9 to enter the queue and star 6 to unmute once called upon. For those of you watching on the webcast, if you would like to submit a written question, please type it in the Ask a Question tab to the right-hand side of the player. I will now hand back to your host, Owen Ryan, to take your questions.