Grab Holdings Limited · NASDAQ:GRAB
Grab — SPAC Merger (August 2021)
34 slides from Grab's SPAC merger presentation, Aug 2, 2021
Slide 1: Grab Q1 2021 Earnings Call August 2021
Grab Q1 2021 Earnings Call August 2021
Slide 2: Disclaimer: Forward-Looking Statements
Disclaimer Forward-Looking Statements This presentation (this “Presentation”) contains forward-looking statements regarding Grab Holdings Inc.’s (the “Company”) future business expectations which involve risks and uncertainties. Actual results may differ materially from the results predicted, and re
Slide 3: Disclaimer: Use of Historical Financial Information and Non-IFRS Financial Measures
Disclaimer Use of Historical Financial Information and Non-IFRS Financial Measures The Company’s unaudited selected financial data for the three months ended March 31, 2021 and 2020 included in this Presentation is based on financial data derived from the Company’s management accounts that have not
Slide 4: Agenda
Business Update 1 2021 Q1 Results 2 Update on Public Listing Process 3 COVID-19 Update & Grab Initiatives 4 Non-IFRS Reconciliations 5 4Business Update 1 2021 Q1 Results 2 Update on Public Listing Process 3 COVID-19 Update & Grab Initiatives 4 Non-IFRS Reconciliations 5 4
Slide 5: Business Update
Business Update 5Business Update 5
Slide 6: Grab Continues to Demonstrate Category Leadership in 2020
Grab Continues to Demonstrate Category Leadership in 2020 Online food delivery Ride hailing E-wallet (1) Category share in Southeast Asia 50% 72% 23% Category share relative to next largest competitor in 2.5x 4.8x 1.6x (1) Southeast Asia Source: Euromonitor International Note: 1. Southeast Asia refe
Slide 7: Strong 2021 Q1 Top-Line Growth Reaffirms Our Superapp Strategy
Strong 2021 Q1 Top-Line Growth Reaffirms Our Superapp Strategy +31% +96% +39% YoY YoY YoY (2)(3) Growth in Deliveries Segment Adjusted Net Growth in Adjusted Net Sales Growth in GMV per MTU (1) (2021 Q1 vs. 2020 Q1) (2021 Q1 vs. 2020 Q1) Sales (2021 Q1 vs. 2020 Q1) Driven by increases in both the nu
Slide 8: Our Board of Directors
(1) Our Board of Directors New New Addition Addition Dara Anthony Tan Tan Hooi Ling Ng Shin Ein Oliver Jay Rich Barton Khosrowshahi Co-founder, CEO and Co-founder, COO & Non- Independent Director Independent Director Independent Director Chairman Independent Director Independent Director Co-founder,
Slide 9: 2021 Q1 Results
2021 Q1 Results 92021 Q1 Results 9
Slide 10: 2021 Q1 Results: Consolidated Group
2021 Q1 Results Consolidated Group GMV per (3) (1) (2) Monthly Transacting User Gross Merchandise Value Adjusted Net Sales (US$M) (US$M) (US$/MTU) 3, 644 +5% YoY 507 153 +39% YoY +31% YoY 3,464 117 367 2020 Q1 2021 Q1 2020 Q1 2021 Q1 2020 Q1 2021 Q1 Note: 1. Gross Merchandise Value (GMV) is defined
Slide 11: 2021 Q1 Results: Consolidated Group (Cont)
2021 Q1 Results Consolidated Group (Cont) (1) (2) Total Segment Adjusted EBITDA Adjusted EBITDA (US$M) (US$M) %of %of (5.7%) 1.0% (9.9%) (3.1%) GMV GMV 35 +US$231M (111) +US$233M (196) (344) 2020 Q1 2021 Q1 2020 Q1 2021 Q1 Note: 1. Total Segment Adjusted EBITDA is defined as the Adjusted EBITDA excl
Slide 12: 2021 Q1 Results: Consolidated Group (IFRS Financials)
2021 Q1 Results (1) Consolidated Group (IFRS Financials) (3) (2) Cash and Cash Equivalents Net Loss Revenue (US$M) (US$M) (US$M) %of %of 0.0% 5.9% (22.2%) (17.9%) GMV GMV 4,945 216 +US$1,490M +US$215M 3,455 (652) +US$119M (771) 1 2020 Q1 2021 Q1 2020 Q1 2021 Q1 2020 Q4 2021 Q1 Note: 1. These are una
Slide 13: 2021 Q1 Results: Deliveries
2021 Q1 Results Deliveries (3) (1) (2) Segment Adjusted EBITDA Gross Merchandise Value Adjusted Net Sales (US$M) (US$M) (US$M) %of (13.2%) (0.2%) GMV 1,702 293 +49% YoY +96% YoY (4) +US$147M 1,141 149 (151) 2020 Q1 2021 Q1 2020 Q1 2021 Q1 2020 Q1 2021 Q1 Note: 1. Gross Merchandise Value (GMV) is def
Slide 14: Deliveries: GrabMart Demonstrating Strong Potential
Deliveries GrabMart Demonstrating Strong Potential GrabMart GMV (ex Ads) GrabMart Orders Continuing to scale GrabMart across 2021 Q1 vs 2020 Q1 our markets with strong take-up by 36x increase in GMV customers and merchants GrabMart’s GMV demonstrated strong growth, growing 36x YoY & 1.2x QoQ Jan 20
Slide 15: 2021 Q1 Results: Mobility
2021 Q1 Results Mobility (3) (1) (2) Segment Adjusted EBITDA Gross Merchandise Value Adjusted Net Sales (US$M) (US$M) (US$M) %of 6.4% 14.3% GMV 1,266 115 808 167 +US$34M 195 (36%) YoY (14%) YoY 81 2020 Q1 2021 Q1 2020 Q1 2021 Q1 2020 Q1 2021 Q1 Note: 1. Gross Merchandise Value (GMV) is defined as th
Slide 16: 2021 Q1 Results: Financial Services
2021 Q1 Results Financial Services Total Payments Volume (3) (1) (2) Segment Adjusted EBITDA (Pre-InterCo) Adjusted Net Sales (US$M) (US$M) (US$M) Off-Grab %of (5.1%) (2.9%) TPV On-Grab 2,727 23 +18% YoY +31% YoY 2,308 251 1,220 1,592 17 (78) +US$39M 1,088 1,134 (117) 2020 Q1 2021 Q1 2020 Q1 2021 Q1
Slide 17: Financial Services: Partnerships with Adyen and Stripe
Financial Services Partnerships with Adyen and Stripe +15% increase +20% increase in users using GrabPay to in online transactions after complete a purchase after Zalora GrabPay made available as a introduced PayLater by Grab payment method via Stripe in Malaysia since October via Adyen on May 1, 20
Slide 18: 2021 Q1 Results: Enterprise Services
2021 Q1 Results Enterprise Services (3) (1) (2) Segment Adjusted EBITDA Gross Merchandise Value Adjusted Net Sales (US$M) (US$M) (US$M) %of 26 (131.7%) 8.2% GMV +258% YoY 25 2 +388% YoY +US$12M 7 5 (10) 2020 Q1 2021 Q1 2020 Q1 2021 Q1 2020 Q1 2021 Q1 Note: 1. Gross Merchandise Value (GMV) is defined
Slide 19: 2021 Q1 Results: Revenue by Segment (IFRS Financials)
2021 Q1 Results Revenue by Segment (IFRS Financials) 216 +US$215M 10 8 1 145 Deliveries Mobility 123 Financial Services 53 Enterprise (99) (21) (2) 2020 Q1 2021 Q1 132021 Q1 Results Revenue by Segment (IFRS Financials) 216 +US$215M 10 8 1 145 Deliveries Mobility 123 Financial Services 53 Enterprise
Slide 20: Update on Public Listing Process
Update on Public Listing Process 20Update on Public Listing Process 20
Slide 21: Update on Public Listing Process: Form F-4 Registration Document Filed
Update on Public Listing Process Form F-4 Registration Document Filed with the US Securities & Exchange Commission 1 ‘Adjusted Net Revenues’ relabelled as ‘Adjusted Net Sales’ 2 Update on IFRS Revenue presentation 3 21Update on Public Listing Process Form F-4 Registration Document Filed with the US
Slide 22: Grab's IFRS Revenue Presentation
Grab’s IFRS Revenue Presentation Financials (For Illustration) Consumer Incentives Deemed as a Contra- Revenue Item GMV Gross billing Less driver / Adjusted net sales Less driver / Revenue Less Less other costs Adjusted merchant (“ANS”) merchant (IFRS) consumer EBITDA base incentives excess incentiv
Slide 23: COVID-19 Update & Grab Initiatives
COVID-19 Update & Grab Initiatives 23COVID-19 Update & Grab Initiatives 23
Slide 24: Covid-19 Update: Sharp Spikes in New Cases Across The Region
Covid-19 Update Sharp Spikes in New Cases Across The Region Malaysia (MY) Thailand (TH) Vaccination rate: 42% Vaccination rate: 18% Movement restrictions in place COVID-19 measures in place Singapore (SG) Vietnam (VN) Vaccination rate: 73% Vaccination rate: 5% Returned to Phase 2 (Heightened Alert)
Slide 25: Covid-19 Update: Recovery Progressing Steadily
Covid-19 Update Recovery Progressing Steadily Consolidated Group GMV Re-emergences Increase of new cases in (Indexed to 100% Month of Apr-2020) in Thailand and Sharp increase of new Indonesia and Malaysia cases in Philippines Vietnam 172% 168% 152% 152% 131% 100% Apr-20 Jun-20 Aug-20 Oct-20 Dec-20 F
Slide 26: Launched First ESG Report
(1) Launched First ESG Report Committed to building a business with a double bottom line …and protecting our environment Making a positive socio-economic impact… Reduced waste of $7.1B ~600k $200M+ 380M earned by our driver-and small businesses signed invested for electric / hybrid sets of single-us
Slide 27: Covid-19 Support: Economic Empowerment
Covid-19 Support Economic Empowerment Providing an uplift to those in vulnerable economic positions as a result of the pandemic Created income opportunities for >370,000 people who signed up to become our driver-partners in 2020 (1) 33% of GrabFood merchant-partners went online for the first time wi
Slide 28: Covid-19 Support: Providing Social Support
Covid-19 Support Providing social support Launched initiatives to support our partners, communities and governments Committed >US$40M to partner relief efforts and launched >100 initiatives to mitigate impact of the pandemic on our stakeholders in 2020 > 470,000 meals for our driver-partners have be
Slide 29: Covid-19 Support: Working Closely with Governments
Covid-19 Support Grateful for the opportunity to work closely with Governments Facilitate national vaccination efforts Supporting local healthcare needs Help affected businesses go online (1) Working with the Indonesian Ministry of Health and Good Doctor Launched GrabCare, a dedicated offering to en
Slide 30: Closing Remarks
Closing Remarks 30Closing Remarks 30
Slide 31: Non-IFRS Reconciliations
Non-IFRS Reconciliations 31Non-IFRS Reconciliations 31
Slide 32: P&L Bridge to Adjusted EBITDA
P&L Bridge to Adjusted EBITDA (1) 2020 financials (US$B) – PIPE 12.5 1.8 (0.2) 1.6 (0.4) (0.5) (1.5) 1.2 (0.8) GMV Gross billing Less driver / Adjusted net sales Less driver / Revenue Less Less other costs Adjusted merchant (“ANS”) merchant (IFRS) consumer EBITDA base incentives excess incentives in
Slide 33: GMV to IFRS Revenue Reconciliations
GMV to IFRS Revenue Reconciliations 2019A 2020A Q1 21 (1) $B PIPE Final PIPE Final Final GMV 12.2 12.3 12.5 12.5 3.6 Growth 115% 115% 2% 2% 5% Gross billings 1.7 1.7 1.8 1.8 0.5 Less OVO restatement - (0.2) - (0.1) - Gross billings (adjusted for OVO restatement) 1.7 1.5 1.8 1.7 0.5 Growth 173% 156%
Slide 34: Adjusted EBITDA to IFRS Net Loss Reconciliation
Adjusted EBITDA to IFRS Net Loss Reconciliation 2019A 2020A Q1 21 (1) (1) $B PIPE Final PIPE Final Final Adjusted EBITDA (2.3) (2.2) (0.8) (0.8) (0.1) Reconciling items: Other income / expense - (0.1) - (0.2) - Interest expense from RCPS (1.1) (1.0) (1.4) (1.4) (0.4) Depreciation / amortization (0.7