Pt Goto Gojek Tokopedia Tbk · IDX:GOTO
Pt Goto Gojek Tokopedia Tbk — GoTo Gojek Tokopedia PT — Q2 2024 Earnings Presentation
24 slides from Pt Goto Gojek Tokopedia Tbk's earnings presentation, Jul 30, 2024
Slide 1: 2Q 2024 Results
e Go Together, Go Far 2Q 2024 Results July 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”). Al
Slide 3: Key Strategic Focus
Key Strategic Focus Financial and Operating Highlights Summary Financials Non-IFAS Reconciliations 2Q 1Q 2024
Slide 4: Key Results in 2Q24
Key Results in 2Q241 Gross Revenue2,5 Contribution Margin3 Adj. EBITDA4 4.3 1.2IDR Trillion -48IDR Billion IDR Trillion +39%(2Q23 vs 2Q24) +145% (2Q23 vs 2Q24) +95%(2Q23 vs 2Q24) Notes: 1. Figures are on a pro forma basis which assumes that Tokopedia and its related delivery and fulfillment business
Slide 5: Accelerated growth with improved profitability
Accelerated growth with improved profitability Group MTUs1,3 Group Core GTV2,3 Group Adj EBITDA3 +20% +54% +95% Year on Year Year on Year Year on Year Growth Growth Growth 2Q23 2Q24 2Q23 2Q24 2Q23 2Q24 1 Group MTUs means Monthly Transacting Users who are using On-Demand Services products (in ID, SG,
Slide 6: ODS mass market strategy beginning to yield results
ODS mass market strategy beginning to yield results ODS Orders1,3 ODS GTV2,3 +20% +14% Year on Year Year on Year Growth Growth 2Q23 2Q24 2Q23 2Q24 1 ODS Orders means completed orders in On-Demand Services (in ID, SG, VN) over the stated period 2 2Q 1Q 2024 If we assume the change in definition start
Slide 7: Product strategy driving growth and engagement
Product strategy driving growth and engagement Mass-market products Subscriptions of ODS new and higher spending vs ~25%1 reactivated users were mass market product users ~3x2 non-subscribers Higher monthly transactions number of subscribers for people using both mass market and affluent 2x3 since t
Slide 8: Strong growth in payments and lending
Strong growth in payments and lending GTF Core GTV1 GoPay app2 Consumer Lending Core GTV (IDR trillions) Cumulative Downloads1 Total Loans Outstanding (IDR trillions) +65% ~3.5x YoY YoY 56.2 >30m 3.5 2Q23 2Q24 Jul ‘23 Jun ‘24 2Q23 2Q24 1 GTF Core GTV excludes merchant payment gateway GTV 2 2Q 1Q 202
Slide 9: Stronger and more sustainable position vs a year ago
Stronger and more sustainable position vs a year ago Adjusted EBITDA positive in 4Q23 Significant cut in expenses leading to reduction of IDR 12.3 Tn Adj. EBITDA losses1 Reduce cash burn E-commerce cash-generating and growing again via TikTok partnership Expanded availability of affordable products
Slide 10: Financial and Operating Highlights
Key Strategic Focus Financial and Operating Highlights Summary Financials Non-IFAS Reconciliations 2Q 1Q 2024
Slide 11: Key operating metrics
Key Group GTV1,2 Group Gross Revenue1,4 operating metrics +26% +39% Year on Year Year on Year Growth Growth In IDR Trillions 121.5 4.3 96.0 3.1 Core GTV3 Core GTV3 +54% Core GTV3 41.0 63.2 2Q23 2Q24 2Q23 2Q24 As % 3.2% 3.5% of GTV 1 Figures are on a pro forma basis which assumes that Tokopedia and i
Slide 12: Cost discipline and profitability improvement
Cost discipline and profitability improvement In IDR Trillions Recurring Cash Fixed Costs1,2 Group Contribution Margin1 Group Adjusted EBITDA1 -5% +145% 1.2 1.4 (0.0) 1.3 0.5 (0.9) +95% 2Q23 2Q24 2Q23 2Q24 2Q23 2Q24 As % of GTV 0.5% 1.0% (0.9)% (0.0)% 1 Figures are on a pro forma basis which assumes
Slide 13: On-Demand Services
GTV1,3 Gross Revenue2,3 On-Demand 14% +17% Services Year on Year Year on Year 15.5 3.4 13.6 2.9 In IDR Trillions 2Q23 2Q24 2Q23 2Q24 21.2% 21.8% As % of GTV Contribution Margin3 Adjusted EBITDA3 +24 % +179bps Year on Year As % of GTV Year on Year 0.8 0.6 0.1 (0.2) 2Q23 2Q24 2Q23 2Q24 4.6% 5.0% As %
Slide 14: Financial Technology
GTV1 Gross Revenue1 Financial +27% +97% Technology Year on Year 90.5 115.3 Year on Year 0.8 In IDR Trillions 0.4 Core GTV2 Core GTV2 Core GTV2 56.2 34.1 +65% 2Q23 2Q24 2Q23 2Q24 0.4% 0.7% As % of GTV Contribution Margin1 Adjusted EBITDA1 +26bps +67% Year on Year Year on Year 0.3 (0.5) (0.2) (0.0) 2Q
Slide 15: Guidance FY 2024
Guidance Adjusted EBITDA Breakeven FY 2024 2Q 2024 15
Slide 16: Summary Financials
Key Strategic Focus Financial and Operating Highlights Summary Financials Non-IFAS Reconciliations 2Q 1Q 2024
Slide 17: Summary operating & financial metrics - pro forma
Summary For Three Months Ended June 30 - Pro Forma1 For Six Months Ended June 30 - Pro Forma1 operating & 2024 2023 2024 2023 financial Group GTV 121,451 96,036 237,957 193,048 metrics- Group Gross Revenue Take rate 4,268 3.5% 3,072 3.2% 8,433 3.5% 6,595 3.4% pro forma Incentives to customers Group
Slide 18: Summary operating & financial metrics - as reported
Summary For Three Months Ended June 30 - As Reported For Six Months Ended June 30 - As Reported operating & 2024 2023 2024 2023 financial Group GTV 121,581 143,9464 256,373 292,5654 metrics- Group Gross Revenue Take rate 4,409 3.6% 5,833 4.1% 9,713 3.8% 11,814 4.0% as reported Incentives to customer
Slide 19: Non-IFAS Reconciliations
Key Strategic Focus Financial and Operating Highlights Summary Financials Non-IFAS Reconciliations 2Q 1Q 2024
Slide 20: Group Adjusted EBITDA reconciliation - pro forma
Group For Three Months Ended June 30 - Pro Forma1 For Six Months Ended June 30 - Pro Forma1 Adjusted Loss before income tax 2024 (971) 2023 (2,498) 2024 (1,399) 2023 (5,474) EBITDA Add/(Deduct): Depreciation and amortization expenses 142 223 321 480 reconciliation Finance income (180) (120) (360) (2
Slide 21: Group Adjusted EBITDA reconciliation - as reported
Group For Three Months Ended June 30 - As Reported For Six Months Ended June 30 - As Reported Adjusted Loss before income tax 2024 (1,938) 2023 (3,322) 2024 (2,898) 2023 (7,457) EBITDA Add/(Deduct): Depreciation and amortization expenses 147 673 487 1,379 reconciliation Finance income (180) (147) (3
Slide 22: Segment Adjusted EBITDA & Contribution Margin reconciliation
For Three Months Ended June 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 (33) 25 (306) 1
Slide 23: GTV impact from change in definition
GTV impact For The Three Months Ended1 from change Group 31 Dec 2023 30 Sep 2023 30 June 2023 31 Mar 2023 in definition for GTV (as reported)1 163,020 151,250 143,739 148,538 Adjusting for: On-Demand Change in definition 411 364 329 196 Services Intercompany elimination (130) (120) (122) (114) In ID
Slide 24: Go Together, Go Far.
Go Together, Go Far. 2Q 1Q 2024
GoTo Gojek Tokopedia PT — Q2 2024 Earnings Presentation on 6ix