Grab Holdings Limited · NASDAQ:GRAB
Grab — Q2 2023 Earnings Presentation
23 slides from Grab's earnings presentation, Aug 23, 2023
Slide 1: Q2 2023 Earnings Call
Q2 2023 Earnings Call August 2023
Slide 2: Disclaimer: Forward-Looking Statements
Disclaimer Forward-Looking Statements This document and the announced investor webcast contain “forward-looking statements" within the meaning of the “safe harbor” provisions of the US. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact containe
Slide 3: Disclaimer: Operating Metrics and Constant Currency
Disclaimer This document and the investor webcast also includes “PreinterCo” data that does not reflect elimination of intragroup transactions, which means such data includes earnings and other amounts from transactions between entities within the Grab group that are eliminated upon consolidation. S
Slide 4: Business Update, Financial Results, Outlook, Non-IFRS Reconciliation
Business Update Financial Results Outlook Non-IFRS Reconciliation
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Slide 6: Q2 2023 Financial Highlights
Q2 2023 Financial Highlights Mobility and Deliveries Improvement in Adjusted (1) Revenue Gross Merchandise Value’) EBITDA Loss‘) YoY YoY YoY Adjusted EBITDA margin) of (0.4)% % (4) % (4) EBITL +81% YoY Constant Currency| +14% YoY Constant Currency +424 Basis Points Improvement YoY
Slide 7: Deliveries Q2 GMV achieved a new all-time-high
Business Uedate Deliveries Q2 GMV achieved a new all-time-high Deliveries GMV™ (Quarterly, in $ millions) Deliveries GMV achieved a newall- time high in Q2 2023 Sequential growth continuing into Q3 2023, with July GMV growing MoM and YoY t | Q22023 Deliveries H GMV at all-time highs , 2,573 2,562 2,
Slide 8: Improving the health of our marketplace
Business Update Improving the health of our marketplace Continued focus on improving ..enables us to deepen ..while improving earnings affordability and efficiency... engagement with users... opportunities for our partners 460 +12% +9% Bps Reduction in % of Surged Rides") Increase in Mobility Transa
Slide 9: GrabAds drives value uplifts for top brands
Business Update GrabdAds drives value uplifts for top brands LOTTERIA amazon SI
Slide 10: Executing strongly on our path to profitability
Business Update Executing strongly on our path to profitability Group Adjusted EBITDA.) (ins millions) Q2 2022 Group Enterprise & Regional Q2 2023 Group { Target Group ' Adjusted EBITDA Mobility Deliveries Financial Services New Initiatives Corporate Costs Adjusted EBITDA t Adj. EBITDA 1 1 Breakeven
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Slide 12: Q2 2023 Results: Consolidated group
Q2 2023 Results Consolidated group YoY% Change Q2 2023) Q22022" YoY% Change (Constant Q2 2023 Q2 2022 Currency?) $ in millions, unless otherwise stated % of GMV Operating Metrics GMV®) 5,243 5,055 4% 6% - - MTU® (millions of users) 34.9 32.6 7% - - - GMV per MTU ($) 150 155 (3)% 0% - - Partner Incen
Slide 13: Segment Adjusted EBITDA to IFRS Net Loss
Q2 2023 Results Segment Adjusted EBITDA to IFRS Net Loss Q2 2023) Q2 2022) $ in millions, unless otherwise stated Total Segment Adjusted EBITDA(®) (non-IFRS) 172 (19) Regional Corporate Costs®) (192) (214) Adjusted EBITDA(4®) (non-IFRS) (20) (233) Nom-cash expenses (105) (317) Cash expenses (23) (22
Slide 14: Net Cash Liquidity
@2 2023 Results Net Cash Liquidity $ in millions, unless otherwise stated Cash & cash equivalents Add: Other Long-term Investments Add: Time deposits Add: Cash investments Cash Liquidity?) Less: Loans and borrowings Net Cash Liquidity As of Ju 2023) 2,282 135 2,534 683 5,634 (72) 4,862 As of Mar 31,
Slide 15: Deliveries Results
@2 2023 Deliveries Results Revenue") Gross Merchandise Value) Segment Adjusted EBITDA) 292 +118% YoY +126% YoY (CC) 134 Q2.2022 Q2.2023 2,573 2,476 +4% YoY +7% YoY (CC3)) Q2.2022 Q2.2023 % GMV?) (1.4%) 27% 69 +US$103M (34) Q2.2022 Q2.2023 Note: 1, Deliveries Revenues benefited in Q2 2023 due to a bu
Slide 16: Mobility Results
Q2 2023 Results Mobility Revenue Gross Merchandise Value Segment Adjusted EBITDA?) 208 1,320 % GM 12.1% 12.4% SA +29% YoY +30% YoY (CC3)) ow 2) 31% YoY (CC) 163 161 1,035 +31% YoY 125 Q2 2022 Q2 2023 Q2 2022 Q2 2023 Q2 2022 Q2 2023 Note: 1.Gross Merchandise Value is an operating metric representing
Slide 17: Financial Services Results
@2 2023 Results Financial Services Total Payments Volume Revenue (Pre-Interco)™ Segment Adjusted EBITDA?) 40 3,827 % TPVO (3.1%) (2.0)% KYO tn nen nn ee ene een en eee een e eee nne +223% YoY +4y 3 saab vow ince 3,778 sax yor (co) 13 (75) +40M YoY (115) Q2.2022 Q2.2023 Q2.2022 Q2.2023 Q2 2022 Q2.202
Slide 18: Enterprise and New Initiatives Results
Q2 2023 Results Enterprise and New Initiatives Revenue Gross Merchandise Value Segment Adjusted EBITDA?) 27 % GMO 97% 30.3% +95% YoY 0 +99% YoY (CC) 52 -3% YoY 0% YoY (CC®) 15 +203% YoY 14 5 Q2 2022 Q2 2023 Q2 2022 Q2 2023 Q2 2022 Q2 2023 5 made through offline seethe sectiontitled "NonFRS
Slide 19: Incentives
@2 2023 Results Incentives $ In millions Base Excess Consumer Total Base Excess Consumer Total Incentives” —_Incentives”)_Incentives® Incentives Incentives Incentives?) _Incentives®) Incentives Deliveries 77 95.5 173.4 286.5 12.0 147.8 221.0 380.7 Mobility 54.4 75 455 107.4 36.9 5S 26.2 787 Financia
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Slide 21: Outlook for 2023
Outlook Outlook for 2023 $2.20B - $2.30B 2023 Revenue 54% - 60% YoY (Unchanged) . $(30M) - $(40M) 2023 Group Adjusted EBITDA” (Previous: $(195M) - $(235M)) Q3 2023 (Previous: Q4 2023)
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Slide 23: Adjusted EBITDA to IFRS Loss for the Period Reconciliation
Adjusted EBITDA to IFRS Loss for the Period Reconciliation Three months ended Six months ended June 30, Net interest (income) / expenses (31) 18 (32) 45 Net other expenses / (income) 7 (1) 5 (3) Income tax (expense) / credit (5) 2 7 3 Depreciation and amortization 36 38 72 72 Share-based compensatio