Jack Ma-backed Ant Group’s international division generated nearly US$3 billion in revenue for 2024, according to people familiar with the matter, setting the stage for a spin-off after the unit set up its own board last year.
Ant International, which is headquartered in Singapore, has also produced two consecutive years of adjusted profit, the people said, requesting not to be named because the information is not public.
It is not clear how the company calculates its adjusted Ebitda – earnings before interest, taxes, depreciation and amortisation – but the metric typically strips out non-recurring costs, restructuring charges and other items.
The fintech group as a whole grew its profit by 61 per cent in 2024 to 38.3 billion yuan (US$5.3 billion), according to Bloomberg calculations based on filings from its affiliate Alibaba Group Holding, owner of the South China Morning Post. Its latest revenue was not disclosed.
Hangzhou-based Ant Group owns Alipay, a widely used digital payments app and financial services provider in China.
Ant Group did not immediately respond to an emailed request for comment.
Ant International has been making inroads into Southeast Asia and expanding its business scope. It has been a key unit for Ant Group, which has been trying to bolster revenue growth by investing heavily into artificial intelligence (AI) and overseas markets.
