Grab Holdings Limited · NASDAQ:GRAB
Grab — Q3 2024 Earnings Presentation
24 slides from Grab's earnings presentation, Nov 11, 2024
Slide 1: Q3 2024 Earnings Call
Q3 2024 Earnings Call November 2024
Slide 2: Disclaimer: Non-IFRS Financial Measures
Disclaimer Non-IFRS Financial Measures This document and the investor webcast contain references to non-IFRS financial measures, including Adjusted EBITDA, Segment Adjusted EBITDA, Segment Adjusted EBITDA margin, Total Segment Adjusted EBITDA, Adjusted EBITDA margin and Adjusted Free Cash Flow. Grab
Slide 3: 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 U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contain
Slide 4: Agenda
1 Financial and Operational Highlights 2 Financial Results 3 Outlook 4 Non-IFRS Reconciliation 5 Appendix
Slide 5: Financial and Operational Highlights
Financial and Operational Highlights
Slide 6: Q3 2024 Financial Highlights
Q3 2024 Financial Highlights Revenue +17% YoY +20% YoY Constant Currency(4) On-Demand Gross Merchandise Value(1) +15% YoY +18% YoY Constant Currency(4) Group Adjusted EBITDA(2) $90M Profit for the Period was $15M Trailing 12-Months Adjusted Free Cash Flow(3) $76M +$348M YoY Note: 1. Gross Merchandis
Slide 7: Realizing synergies across Food and Mart
Financial and Operational Highlights Realizing synergies across Food and Mart 1.7x Higher YoY GMV growth in Mart vs Food (Q3 2024 vs Q3 2023) 4.9x Higher average order frequency among users who transacted in both Food and Mart (Q3 2024) 2.1x Higher retention rate(2) among users who transacted in bot
Slide 8: High Value Mobility rides continue to gain traction
Financial and Operational Highlights High Value Mobility rides continue to gain traction 30% YoY GMV growth from High Value Mobility rides (Q3 2024 vs Q3 2023) 2.4x Higher GMV per ride(1) on High Value Mobility rides (Q3 2024) 1.2x Higher Revenue margin(1,2) on High Value Mobility rides (Q3 2024) 3.
Slide 9: Robust growth in loan disbursals and bank deposits
Financial and Operational Highlights Robust growth in loan disbursals and bank deposits Total Loans Disbursed(1) +38% YoY (Q3 2024 vs Q3 2023) (Quarterly, in US$ millions) 567 483 500 443 Loan disbursals grew 38% YoY 410 to $567M, attributed to 350 ecosystem lending and higher 294 255 260 lending vo
Slide 10: Financial Results
Financial Results =
Slide 11: Q3 2024 Unaudited Results: Consolidated Group
Q3 2024 Unaudited Results Consolidated Group YoY% Change Q3 2024 Q3 2023 YoY% Change (Constant Currency(1)) $ in millions, unless otherwise stated Operating Metrics On-Demand GMV(2,3) 4,659 4,063 15% 18% Group MTU(4) (millions of users) 41.9 36.0 16% - On-Demand MTU (millions of users) 37.7 31.7 19%
Slide 12: Q3 2024 Unaudited Results: Net Cash Liquidity
Q3 2024 Unaudited Results Net Cash Liquidity As of Sep 30, As of Jun 30, As of Mar 31, As of Dec 31, 2024 2024 2024 2023 $ in millions, unless otherwise stated Cash & cash equivalents 2,885 2,447 2,113 3,138 Add: Other Long-term Investments 108 95 145 146 Add: Time deposits 2,079 2,365 2,083 1,752 A
Slide 13: Q3 2024 Unaudited Results: Deliveries
Q3 2024 Unaudited Results Deliveries Revenue Gross Merchandise Value(1) Segment Adjusted EBITDA(2) ($ in millions) ($ in millions) ($ in millions) 380 2,965 % GMV(2) 1.3% 1.8% +13% YoY +12% YoY +16% YoY (CC(3)) 2,656 +16% YoY (CC(3)) 55 335 +60% YoY 34 Q3 2023 Q3 2024 Q3 2023 Q3 2024 Q3 2023 Q3 2024
Slide 14: Q3 2024 Unaudited Results: Mobility
Q3 2024 Unaudited Results Mobility Revenue Gross Merchandise Value(1) Segment Adjusted EBITDA(2) ($ in millions) ($ in millions) ($ in millions) 271 1,694 % GMV(2) 9.0% 8.8% +20% YoY +17% YoY +24% YoY (CC(3)) +20% YoY (CC(3)) 149 1,407 +18% YoY 231 127 Q3 2023 Q3 2024 Q3 2023 Q3 2024 Q3 2023 Q3 2024
Slide 15: Q3 2024 Unaudited Results: Financial Services
Q3 2024 Unaudited Results Financial Services Revenue Loan Portfolio(1) Segment Adjusted EBITDA(2) ($ in millions) ($ in millions) ($ in millions) 64 498 % Revenue (74.7)% (40.4)% +34% YoY +81% YoY +38% YoY (CC(3)) 48 275 (26) +$10M (36) Q3 2023 Q3 2024 Q3 2023 Q3 2024 Q3 2023 Q3 2024 Note: 1. Loan P
Slide 16: Q3 2024 Unaudited Results: Incentives
Q3 2024 Unaudited Results Incentives Q3 2024 Q3 2023 Partner Consumer Total Partner Consumer Total $ In millions Incentives(1) Incentives(2) Incentives Incentives(1) Incentives(2) Incentives Deliveries 121.6 207.8 329.4 109.6 165.2 274.8 Mobility 65.4 63.5 128.9 55.5 46.3 101.8 Financial Services 0.
Slide 17: Outlook
Outlook =
Slide 18: Outlook for 2024
Outlook Outlook for 2024 $2.76B - $2.78B 2024 Revenue 17% - 18% YoY(1) (Previous: $2.70B - $2.75B 14% - 17% YoY) 2024 Group Adjusted EBITDA(2) $308M - $313M (Previous: $250M - $270M) 2024 Adjusted Free Cash Flow(3) Positive for the full year (Unchanged) Note: 1. Our FY 2024 Revenue outlook assumes a
Slide 19: Non-IFRS Reconciliation
Non-IFRS Reconciliation =
Slide 20: Adjusted EBITDA to IFRS Loss for the Period Reconciliation
Adjusted EBITDA to IFRS Loss for the Period Reconciliation Three months ended Nine months ended September 30, September 30, 2024(1) 2023(1) 2024(1) 2023(1) $ in millions, unless otherwise stated Profit/(Loss) for the period 15 (99) (169) (496) Income tax expense/(credit) 32 16 63 22 Share of loss of
Slide 21: Adjusted EBITDA to Total Segment Adjusted EBITDA Reconciliation
Adjusted EBITDA to Total Segment Adjusted EBITDA Reconciliation Three months ended Nine months ended September 30, September 30, 2024(1) 2023(1) 2024(1) 2023(1) $ in millions, unless otherwise stated Total Segment Adjusted EBITDA 178 125 479 241 Deliveries 55 34 139 25 Mobility 149 127 416 338 Finan
Slide 22: Adjusted Free Cash Flow to Net Cash from Operating Activities Reconciliation
Adjusted Free Cash Flow to Net Cash from Operating Activities Reconciliation Three months ended Nine months ended September 30, September 30, 2024(1) 2023(1) 2024(1) 2023(1) $ in millions, unless otherwise stated Net cash from operating activities 338 322 599 112 Less: Capital expenditures (46) (47)
Slide 23: Appendix
Appendix _
Slide 24: Definition of Operating Metrics
Appendix Definition of Operating Metrics Gross Merchandise Value (GMV) is an operating metric representing the sum of the total dollar value of transactions from Grab’s products and services, including any applicable taxes, tips, tolls, surcharges and fees, over the period of measurement. GMV includ