Pt Goto Gojek Tokopedia Tbk · IDX:GOTO
Pt Goto Gojek Tokopedia Tbk — GoTo Gojek Tokopedia PT — Q3 2024 Earnings Presentation
26 slides from Pt Goto Gojek Tokopedia Tbk's earnings presentation, Oct 30, 2024
Slide 1: 3Q 2024 Results
e Go Together, Go Far 3Q 2024 Results October 2024
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
Key Strategic Focus Financial and Operating Highlights Summary Financials Non-IFAS Reconciliations 3Q 1Q 2024
Slide 4: Key Results in 3Q24
Key Results in 3Q241 Gross Revenue2,5 Contribution Margin3 Adj. EBITDA4 4.7 1.5IDR Trillion 137 IDR Billion IDR Trillion +34%(3Q23 vs 3Q24) +79%(3Q23 vs 3Q24) +66bps (3Q23 vs 3Q24) As % of GTV Notes: 1. Figures are on a pro forma basis which assumes that Tokopedia and its related delivery and fulfil
Slide 5: Profitability with continuous growth acceleration
Profitability with continuous growth acceleration Group MTUs1,2 Group Core GTV1,3 Group Gross Revenue1,4 Group Adj EBITDA1 +21% +74% +34% +66bps Year on Year Year on Year Year on Year As % of GTV Growth Growth Growth Year on Year Growth 3Q23 3Q24 3Q23 3Q24 3Q23 3Q24 3Q23 3Q24 1 Figures are on a pro
Slide 6: Significant loan growth driven by ecosystem
Significant loan growth driven by ecosystem Consumer Lending Total Loans Outstanding (IDR trillions) Consumer Lending Penetration ~3x YoY App 4.3 ~ 15% 45% ~ 1 ~40% 2 3Q23 3Q24 1 3Q 1Q 2024 44% of Consumer Lending’s total loan outstanding is originated from Tokopedia app and Tiktok app 6 2 41% of Co
Slide 7: Growing top line with significant operating leverage
Growing top line with significant operating leverage Fintech MTU Fintech Core GTV1 Fintech Gross Revenue Fintech Recurring Cash Fixed Cost2 +35% +82% +128% +26% YoY YoY YoY YoY 3Q23 3Q24 3Q23 3Q24 3Q23 3Q24 3Q23 3Q24 1 Fintech Core GTV excludes merchant payment gateway GTV 2 3Q 1Q 2024 Recurring Cas
Slide 8: Accelerated profitability with additional upside for loans
Accelerated profitability with additional upside for loans Gopay and Gojek Fintech transacting users over Positive 1 out of 7 the last 12 months applied for credit Adjusted EBITDA Loans outstanding 4Q 2024 2x balance by end of 2025 vs. Sept 2024 3Q 1Q 2024 8
Slide 9: User growth initiatives drive top line performance
User growth initiatives drive top line performance ODS Orders1 ODS GTV1,2 +30% +25% Year on Year Year on Year Growth Growth 3Q23 3Q24 3Q23 3Q24 1 3Q 1Q 2024 Figures are on a pro forma basis which assumes that On-Demand Services Vietnam business was deconsolidated on the stated period 2 9 If we assum
Slide 10: Deepening wallet share through Premium offerings and Advertising
Deepening wallet share through Premium offerings and Advertising Advertising Food Express 96% 22% 1 Ads revenue growth YoY of total Food GTV 1.3% 2 Ads revenue of total Food GMV 1 Food Express GTV contributed to 22% of total Food ID GTV 2 3Q 1Q 2024 Advertising revenue is 1.3% of total Food ID GMV 1
Slide 11: Financial and Operating Highlights
Key Strategic Focus Financial and Operating Highlights Summary Financials Non-IFAS Reconciliations 3Q 1Q 2024
Slide 12: Key operating metrics
Key Group GTV1,2 Group Gross Revenue1,4 operating metrics +37% +34% Year on Year Year on Year Growth Growth In IDR Trillions 137.4 4.7 100.0 3.5 Core GTV3 +74% Core GTV3 Core GTV3 41.4 72.0 3Q23 3Q24 3Q23 3Q24 As % 3.5% 3.4% of GTV 1 Figures are on a pro forma basis which assumes that Tokopedia and
Slide 13: Cost discipline and profitability improvement
Cost discipline and profitability improvement In IDR Trillions Recurring Cash Fixed Costs1,2 Group Corporate Cost Group Adjusted EBITDA1 -3% -37% 0.1 1.4 1.4 0.3 0.2 (0.6) +66 bps As % of GTV 3Q23 3Q23 3Q23 3Q24 3Q23 3Q24 (0.6)% 0.1% 1 Figures are on a pro forma basis which assumes that Tokopedia an
Slide 14: Financial Technology
GTV1 Gross Revenue1 Financial +38% +128% Technology Year on Year 130.6 Year on Year 1.0 In IDR Trillions 94.5 0.5 2 Core GTV 64.6 Core GTV2 Core GTV2 35.5 +82% 3Q23 3Q24 3Q23 3Q24 0.5% 0.8% As % of GTV Contribution Margin1 Adjusted EBITDA1 +553% 0.5 +83% Year on Year Year on Year (0.4) (0.1) 0.1 3Q2
Slide 15: On-Demand Services
GTV1 Gross Revenue1 On-Demand 21% (+25% if excl. VN) +22% (+15% if excl. VN and adj. for business model change) Services Year on Year Year on Year 16.6 3.7 13.8 3.0 In IDR Trillions 3Q23 3Q24 3Q23 3Q24 21.9% 22.0% As % of GTV Contribution Margin1 Adjusted EBITDA1 +24 % +129bps Year on Year As % of G
Slide 16: Guidance FY 2024
Guidance Adjusted EBITDA Breakeven FY 2024 3Q 2024 16
Slide 17: Summary Financials
Key Strategic Focus Financial and Operating Highlights Summary Financials Non-IFAS Reconciliations 3Q 1Q 2024
Slide 18: Summary operating & financial metrics - pro forma
Summary For Three Months Ended Sep 30 - Pro Forma1 For Nine Months Ended Sep 30 - Pro Forma1 operating & 2024 2023 2024 2023 financial Group GTV 137,363 99,996 375,320 293,044 metrics- Group Gross Revenue Take rate 4,703 3.4% 3,504 3.5% 13,136 3.5% 10,099 3.4% pro forma Incentives to customers Group
Slide 19: Summary operating & financial metrics - as reported
Summary For Three Months Ended Sep 30 - As Reported For Nine Months Ended Sep 30 - As Reported operating & 2024 2023 2024 2023 financial Group GTV 137,363 151,4944 393,736 444,0594 metrics- Group Gross Revenue Take rate 4,703 3.4% 5,977 3.9% 14,416 3.7% 17,791 4.0% as reported Incentives to customer
Slide 20: Non-IFAS Reconciliations
Key Strategic Focus Financial and Operating Highlights Summary Financials Non-IFAS Reconciliations 3Q 1Q 2024
Slide 21: Group Adjusted EBITDA reconciliation - pro forma
Group For Three Months Ended Sep 30 - Pro Forma1 For Nine Months Ended Sep 30 - Pro Forma1 Adjusted Loss before income tax 2024 (665) 2023 (1,485) 2024 (2,064) 2023 (6,959) EBITDA Add/(Deduct): Depreciation and amortization expenses 119 211 440 691 reconciliation Finance income (185) (123) (545) (37
Slide 22: Group Adjusted EBITDA reconciliation - as reported
Group For Three Months Ended Sep 30 - As Reported For Nine Months Ended Sep 30 - As Reported Adjusted Loss before income tax 2024 (1,704) 2023 (2,417) 2024 (4,602) 2023 (9,874) EBITDA Add/(Deduct): Depreciation and amortization expenses 119 659 606 2,038 reconciliation Finance income (185) (154) (55
Slide 23: Segment Adjusted EBITDA & Contribution Margin reconciliation
For Three Months Ended Sep 30, 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 loss from operations (41) 145 (207) -
Slide 24: Gross revenue adjusted for Vietnam and ODS business model change
Gross revenue Group 30 Sep 2024 For The Three Months Ended 30 Sep 2023 YoY growth adjusted for Gross revenue (pro forma)1 4,703 3,504 34% Vietnam and Adjusting for: ODS business Vietnam (58) (138) - Intercompany elimination 5 16 model change Gross revenue (pro forma1 - adjusted Vietnam) 4,650 3,382
Slide 25: GTV adjusted for Vietnam
GTV adjusted For The Three Months Ended for Vietnam Group 30 Sep 2024 30 Sep 2023 YoY growth In IDR Billions, GTV (pro forma)1 137,363 99,996 37% unless otherwise stated Adjusting for: Vietnam (260) (646) - GTV (pro forma1 - adjusted) 137,103 99,350 38% For The Three Months Ended On-Demand Services
Slide 26: Go Together, Go Far.
Go Together, Go Far. 3Q 1Q 2024
GoTo Gojek Tokopedia PT — Q3 2024 Earnings Presentation on 6ix