Pt Goto Gojek Tokopedia Tbk · IDX:GOTO
Pt Goto Gojek Tokopedia Tbk — GoTo Gojek Tokopedia PT — Q4 2024 Earnings Presentation
37 slides from Pt Goto Gojek Tokopedia Tbk's earnings presentation, Mar 12, 2025
Slide 1: 4Q 2024 & FY 2024 Results
4Q 2024 & FY 2024 Results March 2025
Slide 2: Disclaimer & Cautionary Statements
Disclaimer & Cautionary Statements Forward-Looking Statements This document may contain forward-looking information or forward-looking statements including, but not limited to discussions of strategy, future plans and indicative financial performance (collectively, “forward-looking information”). Fo
Slide 3: Key Strategic Focus, Financial and Operating Highlights
Key Strategic Focus Financial and Operating Highlights Summary Financials Non-IFAS Reconciliations 4Q 1Q 2024 & FY 2024
Slide 4: Key Results in 4Q24
Key Results in 4Q241 Gross Revenue2,5 Contribution Margin3 Adj. EBITDA4 5.0 1.8IDR Trillion 399 IDR Billion IDR Trillion +28%(4Q23 vs 4Q24) +50%(4Q23 vs 4Q24) +348% (4Q23 vs 4Q24) Notes: 1. Figures are on a pro forma basis which assumes that Tokopedia and its related delivery and fulfillment busines
Slide 5: Record-Breaking Performance in 2024
Record-Breaking Performance in 2024 Group GTV1,2 Group Gross Revenue1 Group Adjusted EBITDA1 +29% +30% +63bps Year on Year Year on Year Year on Year Growth Growth Growth (IDR trillions) 519.8 (IDR trillions) 18.1 (IDR billions) 386 0.1 402.1 14.0 Core GTV3 268.2 Core GTV (0.6) Core GTV3 +58% 169.9 (
Slide 6: Group Profitability Beat Guidance
Group Profitability Beat Guidance Group Adjusted EBITDA by Quarter Group Adjusted EBITDA - FY23 vs FY24 4Q23 1Q24 2Q24 3Q24 4Q24 FY23 FY24 (IDR billions) (IDR billions) 399 386 (2,253) 137 89 (102) (48) As % of As % of 0.1% (0.1)% (0.0)% 0.1% 0.3% GTV (0.6)% 0.1% GTV Group Adjusted EBITDA Adjusted E
Slide 7: Ecosystem Synergy Led to Record Results
Ecosystem Synergy Led to Record Results Group Gross Group MTUs1,2 Group Core GTV1,3 Revenue1,4 4Q24 4Q24 4Q24 +22% Year on Year +66% Year on Year +28% Year on Year Growth Growth Growth FY24 FY24 FY24 +16% Year on Year +58% Year on Year +30% Year on Year Growth Growth Growth 1 Figures are on a pro fo
Slide 8: Acceleration in Fintech Profitability
Acceleration in Fintech Profitability Fintech Adjusted EBITDA by Quarter Fintech Adjusted EBITDA - FY23 vs FY24 4Q23 1Q24 2Q24 3Q24 4Q24 FY23 FY24 (IDR billions) (IDR billions) 14 (168) (248) (168) (65) (1,580) (467) As % of As % of (0.2)% (0.2)% (0.1)% (0.0)% 0.0% GTV (0.4)% (0.1)% GTV Fintech Adju
Slide 9: GoPay: Enabling Financial Access for Every Indonesian
GoPay: Enabling Financial Access for Every Indonesian GoPay App +35% Year on Year Fintech Monthly Transacting User Growth (4Q23 vs 4Q24) 20.2 Mn Fintech Monthly Transacting Users (4Q24) +18% Year on Year Fintech Average Monthly Transactions per User (4Q23 vs 4Q24) 4Q 2024 & FY 2024 9
Slide 10: Accelerating Loan Growth with Strong Fundamentals
Accelerating Loan Growth with Strong Fundamentals GoPay Later Consumer Lending Total Loans Outstanding, in IDR trillions 5.2 +172% 4.3 Year on Year Growth (4Q23 vs 4Q24) 3.5 Guidance: 2.7 >IDR 8 Tn 1.9 By the End of 2025 4Q23 1Q24 2Q24 3Q24 4Q24 4Q 2024 & FY 2024 10
Slide 11: Highest-ever ODS Adjusted EBITDA
Highest-ever ODS Adjusted EBITDA ODS Adjusted EBITDA by Quarter ODS Adjusted EBITDA - FY23 vs FY24 4Q23 1Q24 2Q24 3Q24 4Q24 FY23 FY24 (IDR billions) (IDR billions) 679 239 267 166 156 Z 90 (219) As % of As % of 1.7% 1.2% 0.6% 0.9% 1.6% GTV (0.4)% 1.1% GTV ODS Adjusted EBITDA Adjusted EBITDA as % of
Slide 12: ODS: Expanding Premium Services
ODS: Expanding Premium Services Food Express Food Express Contributed 28% of total Food GTV in 4Q24 after 1 year since launch 4Q 2024 & FY 2024 12
Slide 13: Special Delivery Fleet Program
Special Delivery Fleet Program: Enhancing Driver-partners Earnings and Delivery Cost Special Delivery Fleet More affordable delivery for consumers Higher average earnings for driver-partners Improves profitability 4Q 2024 & FY 2024 13
Slide 14: Advertising: Becoming Significant Driver of Profitability
Advertising: Becoming Significant Driver of Profitability Advertising Advertising Revenue +92% YoY in FY24 1.6% Ads revenue of total Food GMV1 in 4Q24 vs 1.1% in 4Q23 Advertising revenue is targeted to grow faster than Food GMV1 in 2025 4Q 2024 & FY 2024 1 GMV: Gross Transaction Value less delivery
Slide 15: Merchant Funded Promotions: Increased Participation & Merchants Investment
Merchant Funded Promotions: Increased Participation & Merchants Investment Merchant Funded Promotions Enhanced targeting and segmentation for better customer reach Merchants’ total spend increased +190% YoY in 2024 Reduction in GoTo-funded Incentives More relevant offers improving customer experienc
Slide 16: AI's Pivotal Role Across Our Ecosystem
AI’s Pivotal Role Across Our Ecosystem Open-source Large Language Models (LLMs) designed to understand the local context, empowering the development of AI-based applications and services uniquely tailored to Indonesia. 4Q 2024 & FY 2024 16
Slide 17: Guidance
To be updated Guidance FY25 Group Adjusted EBITDA IDR 1.4 - 1.6 Trillion 4Q 2024 & FY 2024 17
Slide 18: Key Strategic Focus, Financial and Operating Highlights
Key Strategic Focus Financial and Operating Highlights Summary Financials Non-IFAS Reconciliations 4Q 1Q 2024 & FY 2024
Slide 19: Financial Updates
Financial Updates Cash Balance1: Buyback: E-commerce IDR 21 Trillion IDR 1.5 Trillion Service Fee3: 2 or USD 1.3 Billion or USD 91 Million 4Q24 As of end of Dec 2024 As of end of Feb 2025 IDR 183 Billion (up to USD 200 Million following or USD 11 Million Shareholders approval in June 2024) FY24 IDR
Slide 20: 4Q24 Key Operating Metrics
4Q24 Group GTV1 Group Gross Revenue1,2 Key operating +32% +28% Year on Year Year on Year Growth Growth metrics 144.5 5.0 In IDR Trillions 3.9 109.1 Core GTV 79.2 Core GTV Core GTV +66% 47.8 4Q23 4Q24 4Q23 4Q24 As % 3.5% 3.4% of GTV 1 4Q 2024 & FY 2024 Figures are on a pro forma basis which assumes t
Slide 21: FY24 Key Operating Metrics
FY24 Group GTV1 Group Gross Revenue1,2 Key operating +29% +30% Year on Year Year on Year Growth Growth metrics 519.8 18.1 In IDR Trillions 402.1 14.0 Core GTV Core GTV 268.2 +58% Core GTV 169.9 FY23 FY24 FY23 FY24 As % 3.5% 3.5% of GTV 1 4Q 2024 & FY 2024 Figures are on a pro forma basis which assum
Slide 22: Improving Profitability in 4Q24
Improving Profitability in 4Q24 In IDR Trillions Recurring Cash Fixed Costs1,2 Group Corporate Cost Group Adjusted EBITDA1 +31% -23% +348% 0.40 0.1 1.5 0.24 1.1 0.18 0.09 4Q23 4Q24 4Q23 4Q24 4Q23 4Q24 As % 0.1% 0.3% of GTV 1 Figures are on a pro forma basis which assumes that Tokopedia and its relat
Slide 23: Improving Profitability in FY24
Improving Profitability in FY24 In IDR Trillions Recurring Cash Fixed Costs1 Group Corporate Cost Group Adjusted EBITDA1 -3% -34% 0.39 0.1 5.5 5.3 1.2 0.77 (0.6) (2.3) +63 bps As % of GTV FY23 FY24 FY23 FY24 FY23 FY24 As % (0.6)% 0.1% of GTV 1 Figures are on a pro forma basis which assumes that Toko
Slide 24: 4Q24 Financial Technology
GTV1 Gross Revenue1 4Q24 +33% +95% Financial Year on Year 137.7 Year on Year 1.2 103.2 Technology 0.61 In IDR Trillions Core GTV 71.6 Core GTV Core GTV 41.8 +71% 4Q23 4Q24 4Q23 4Q24 0.6% 0.9% As % of GTV Contribution Margin1 Adjusted EBITDA1 +208% +17bps Year on Year 0.67 As % of GTV Year on Year 0.
Slide 25: FY24 Financial Technology
GTV1 Gross Revenue1 FY24 +30% +95% Financial Year on Year 379.7 494.6 Year on Year 3.7 Technology 1.9 In IDR Trillions Core GTV 240.8 Core GTV Core GTV 146.0 +65% FY23 FY24 FY23 FY24 0.5% 0.7% As % of GTV Contribution Margin1 Adjusted EBITDA1 +436% 1.7 +70% Year on Year Year on Year (1.6) (0.47) 0.3
Slide 26: 4Q24 On-Demand Services
GTV1 Gross Revenue1 4Q24 19% (+24% if excl. VN) +17% (+11% if excl. VN and adj. for business model change) On-Demand Year on Year Year on Year 17.1 3.8 14.4 3.2 Services In IDR Trillions 4Q23 4Q24 4Q23 4Q24 22.5% 22.2% As % of GTV Contribution Margin1 Adjusted EBITDA1 +16 % +12% Year on Year Year on
Slide 27: FY24 On-Demand Services
GTV1 Gross Revenue1 FY24 +13% (+17% if excl. VN) +17% (+10% if excl. VN and adj. for business model change) On-Demand Year on Year Year on Year 63.0 14.2 55.6 12.1 Services In IDR Trillions FY23 FY24 FY23 FY24 21.8% 22.5% As % of GTV Contribution Margin1 Adjusted EBITDA1 +28 % +147bps Year on Year 3
Slide 28: Key Strategic Focus, Financial and Operating Highlights
Key Strategic Focus Financial and Operating Highlights Summary Financials Non-IFAS Reconciliations 4Q 1Q 2024 & FY 2024
Slide 29: Summary operating & financial metrics - pro forma
Summary For Three Months Ended Dec 31 - Pro Forma1 For Twelve Months Ended Dec 31 - Pro Forma1 operating & 2024 2023 2024 2023 financial Group GTV 144,464 109,073 519,784 402,117 metrics- Group Gross Revenue Take rate 4,968 3.4% 3,870 3.5% 18,104 3.5% 13,969 3.5% pro forma Incentives to customers Gr
Slide 30: Summary operating & financial metrics - as reported
Summary For Three Months Ended Dec 31 - As Reported For Twelve Months Ended Dec 31 - As Reported operating & 2024 2023 2024 2023 financial Group GTV 144,464 163,3014 538,200 607,3614 metrics- Group Gross Revenue Take rate 4,968 3.4% 6,469 4.0% 19,384 3.6% 24,260 4.0% as reported Incentives to custom
Slide 31: Non-IFAS Reconciliations
Key Strategic Focus Financial and Operating Highlights Summary Financials Non-IFAS Reconciliations 4Q 1Q 2024 & FY 2024
Slide 32: Group Adjusted EBITDA reconciliation - pro forma
Group For Three Months Ended Dec 31 - Pro Forma1 For Twelve Months Ended Dec 31 - Pro Forma1 Adjusted Loss before income tax 2024 (804) 2023 (80,128) 2024 (2,868) 2023 (87,087) EBITDA Add/(Deduct): Depreciation and amortization expenses 138 193 578 884 reconciliation Finance income (184) (142) (729)
Slide 33: Group Adjusted EBITDA reconciliation - as reported
Group For Three Months Ended Dec 31 - As Reported For Twelve Months Ended Dec 31 - As Reported Adjusted Loss before income tax 2024 (674) 2023 (80,760) 2024 (5,276) 2023 (90,634) EBITDA Add/(Deduct): Depreciation and amortization expenses 138 633 744 2,671 reconciliation Finance income (184) (171) (
Slide 34: Segment Adjusted EBITDA & Contribution Margin reconciliation
For Three Months Ended Dec 31, 2024 Segment On-demand services E-commerce Financial technology All other segments Corporate costs Adjustment & elimination Total Consolidated - Excluding: Tokopedia & Total Consolidated Adjusted As Reported GTL - Pro Forma Segment profit/(loss) from operations 196 142
Slide 35: Gross Revenue adjusted for Vietnam and business model change
Gross Revenue Dec 31, For Three Months Ended Dec 31, YoY For Twelve Months Ended Dec 31, Dec 31, YoY Group adjusted for 2024 2023 growth 2024 2023 growth Gross revenue (pro forma)1 Vietnam and 4,968 3,870 28% 18,104 13,969 30% Adjusting for: ODS business Vietnam - (126) - (258) (601) - model change
Slide 36: GTV adjusted for Vietnam
GTV adjusted For The Three Months Ended For Twelve Months Ended for Vietnam Group Dec 31, 2024 Dec 31, 2023 YoY growth Dec 31, 2024 Dec 31, 2023 YoY growth In IDR Billions, GTV (pro forma)1 144,464 109,073 32% 519,784 402,117 29% unless otherwise stated Adjusting for: Vietnam 0 (570) - (1,166) (2,83
Slide 37: Go Together, Go Far.
Go Together, Go Far. 4Q 1Q 2024 & FY 2024
GoTo Gojek Tokopedia PT — Q4 2024 Earnings Presentation on 6ix