Grab Holdings Limited · NASDAQ:GRAB
Grab — SPAC Merger (November 2021)
35 slides from Grab's SPAC merger presentation, Nov 12, 2021
Slide 1: Q3 2021 Earnings Call
Q3 2021 Earnings Call November 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: Operating Metrics
Disclaimer Operating Metrics Gross Merchandise Value (GMV) is an operating metric representing the sum of the total dollar value of transactions from Grab’s services, including any applicable taxes, tips, tolls and fees, over the period of measurement. GMV is a metric by which Grab understands, eval
Slide 4: Business Update, Q3 2021 Results, Strategy Update, Non-IFRS Reconciliation
1 Business Update 2 Q3 2021 Results 3 Strategy Update 4 Non-IFRS Reconciliation 4
Slide 5: Our Key Business Priorities
Our Key Business Priorities Winning hearts & minds Invest for growth Reduce cost to serve Further strengthen our category Continue to drive growth across Rapidly expand our ecosystem with position across our key markets our core categories our Superapp flywheel 5
Slide 6: Business Update
Business Update 6
Slide 7: Strong, resilient top-line growth in Q3 2021
Strong, resilient top-line growth in Q3 2021 Gross Merchandise Value (1) Deliveries Gross +63 Merchandise Value (1) +32% YoY YoY % (Q3 2021 vs. Q3 2020) (Q3 2021 vs. Q3 2020) Note: 1. GMV means gross merchandise value, an operating metric representing the sum of the total dollar value of transaction
Slide 8: Resilience amidst greater volatility
Resilience amidst greater volatility Strong in Deliveries execution lockdowns Easing of Mobility continues recovery in Q4 Achieving strong GMV growth for Gradual reopening of economies Vietnam, Malaysia, Indonesia bouncing Deliveries in Q3 2021 providing tailwinds to our business back strongly 8
Slide 9: Vietnam Mobility GMV erased by lockdowns
Business Update Vietnam Mobility GMV erased by lockdowns Vietnam Mobility GMV(1) index Sharp recovery entering Q4 as restrictions ease (Indexed to 100% Week Beginning 28 Jun 2021) 100 105 0 28 Jun 2021 12 Jul 2021 26 Jul 2021 9 Aug 2021 23 Aug 2021 6 Sep 2021 20 Sep 2021 4 Oct 2021 18 Oct 2021 Note:
Slide 10: Monthly Transacting Users impacted by Vietnam
Business Update Monthly Transacting Users impacted by Vietnam Monthly Transacting Users(1) (in millions MTUs) 24.8 23.9 Notwithstanding Vietnam, MTUs would have grown 22.1 Reaffirms conviction in our Superapp strategy Q3 2020 Q3 2021 Q3 2021 (Reported Group MTU) (Reported Group MTU) (Normalized Grou
Slide 11: Mobility recovery as lockdowns ease
Business Update Mobility recovery as lockdowns ease Mobility GMV (1) Growth (4 weeks beginning 4 Oct 2021 vs. 4 weeks beginning 5 Jul 2021) Group Malaysia Indonesia +26% +106% +109% Note: 1. GMV means gross merchandise value, an operating metric representing the sum of the total dollar value of tran
Slide 12: Continued reopening with higher vaccinations
Business Update Continued reopening with higher vaccinations Malaysia (MY) Thailand (TH) Resumption of interstate travel Reopened to vaccinated tourists 78% 60% Singapore (SG) Vietnam (VN) Implemented Vaccination Travel Lanes Gradual easing of restrictions 81% 58% Indonesia (ID) Philippines (PH) Gra
Slide 13: Strengthening our leadership team
Business Update Strengthening our leadership team Anthony Tan Hooi Ling Tan Ming Maa Peter Oey Chin Yin Ong Alex Hungate CEO & Co-Founder Co-Founder President Chief Financial Officer Chief People Officer Chief Operating Officer Commencing 4 Jan 2022 13
Slide 14: Q3 2021 Results
Q3 2021 Results 14
Slide 15: Consolidated group: GMV, GMV per MTU, Gross Billings
Q3 2021 Results Consolidated group Gross Merchandise Value (1) GMV per Monthly Transacting User (2) Gross Billings(3) (US$M) (US$/MTU) (US$M) 4,038 183 +32% YoY +43% YoY 616 +41% YoY 3,061 128 436 Q3 2020 Q3 2021 Q3 2020 Q3 2021 Q3 2020 Q3 2021 Note: 1. GMV means gross merchandise value, an operatin
Slide 16: Consolidated group: Adjusted EBITDA
Q3 2021 Results Consolidated group (Cont.) Total Segment Adjusted EBITDA (1,3) Adjusted EBITDA (2,3) (US$M) (US$M) %of GMV 0.3% (0.8%) %of GMV (4.2%) (5.3%) 10 (128) (212) (33) -US$85M -US$43M Q3 2020 Q3 2021 Q3 2020 Q3 2021 Note: 1. Total Segment Adjusted EBITDA is defined as the Adjusted EBITDA ex
Slide 17: Corporate cost margins improved
Q3 2021 Results Corporate cost margins improved As of Q3 2021 (US$M) Q3 2021: -4% of GMV YoY increase in Q3 2021 driven Q3 2020: -5% of GMV by non-cash expenses (33) (86) (179) (212) Depreciation/ Amortization (472) Interest Expense (217) Others (988) Total Segment Less: Regional Adjusted Less: Othe
Slide 18: Consolidated group (IFRS Financials)
Q3 2021 Results Consolidated group (IFRS Financials)(1) Revenue Net Loss Cash Liquidity(2) (US$M) (US$M) (US$M) 5,187 %of GMV 5.6% 3.9% %of GMV (20.3%) (24.5%) +US$1,482M 172 157 -9% 3,705 (621) (988) -US$366M Q3 2020 Q3 2021 Q3 2020 Q3 2021 Q4 2020 Q3 2021 Note: 1. These are unaudited IFRS financia
Slide 19: Deliveries
Q3 2021 Results Deliveries Gross Merchandise Value (1) Gross Billings(2) Segment Adjusted EBITDA (3) (US$M) (US$M) (US$M) 2,318 422 %of GMV (1.6%) (0.9%) +63% YoY +74% YoY 1,420 242 (23) (22) +US$1M Q3 2020 Q3 2021 Q3 2020 Q3 2021 Q3 2020 Q3 2021 Note: 1. GMV means gross merchandise value, an operat
Slide 20: GrabMart's strong growth continues
Deliveries GrabMart’s strong growth continues GrabMart GMV increase GMV growth trajectory continues GrabSupermarket 380% YoY | 78% QoQ Now in 4 countries GrabMart GMV Q1 2020 Q3 2020 Q1 2021 Q3 2021 20
Slide 21: Mobility
Q3 2021 Results Mobility Gross Merchandise Value (1) Gross Billings(2) Segment Adjusted EBITDA(3) (US$M) (US$M) (US$M) 754 %of GMV 11.4% 12.0% 529 162 86 -30% YoY 126 64 -22% YoY -26% YoY Q3 2020 Q3 2021 Q3 2020 Q3 2021 Q3 2020 Q3 2021 Note: 1. GMV means gross merchandise value, an operating metric
Slide 22: Financial services
Q3 2021 Results Financial services Total Payments Volume (Pre-InterCo)(1) Gross Billings(2) Segment Adjusted EBITDA(3) (US$M) (US$M) (US$M) 3,140 28 +44% YoY %of TPV (2.7%) (2.4%) +17% YoY 2,186 24 1,990 1,272 (58) 914 1,150 On-Grab (76) Off-Grab -US$17M Q3 2020 Q3 2021 Q3 2020 Q3 2021 Q3 2020 Q3 20
Slide 23: Enterprise and New Initiatives
Q3 2021 Results Enterprise and New Initiatives Gross Merchandise Value(1) Gross Billings(2) Segment Adjusted EBITDA(3) (US$M) (US$M) (US$M) 41 39 +351% YoY +414% YoY %of GMV 60.3% 2.1% 9 8 5 1 -84% YoY Q3 2020 Q3 2021 Q3 2020 Q3 2021 Q3 2020 Q3 2021 Note: 1. GMV means gross merchandise value, an ope
Slide 24: Revenue by segment (IFRS Financials)
Q3 2021 Results Revenue by segment (IFRS Financials) 172 157 11 -9% YoY 12 7 14 118 88 Enterprise 49 Financial Services 31 Mobility Deliveries Q3 2020 Q3 2021 24
Slide 25: Public Listing Process Update
Public Listing Process Update 25
Slide 26: Strategy Updates
Strategy Updates 26
Slide 27: Strong growth outlook across Deliveries
Deliveries Strong growth outlook across Deliveries Value and convenience via online Food Delivery 12% Penetration rate GrabFood in 2020(1) 68 Close gaps via Kitchens & Private Labels Kitchens Across Kitchens bels SE Asia US$171B Address offline via Dine-in & Takeaway Takeaway Dine-in TAM by 2025(2)
Slide 28: Grab increasing its ownership of OVO
Financial Services Grab increasing its ownership of OVO OVO is a leading e-wallet in Indonesia(1) Open ecosystem platform, with a wide range of acceptance points Strong potential to be the most widely accepted online payments platform Note: 1. According to surveys conducted by NielsenIQ and Kadence
Slide 29: Mastercard x Grab: Advancing digital upskilling
Mastercard x Grab Advancing digital upskilling Provide millions with access to bespoke training tools from Mastercard x Grab In 2020, >1.7m driver-partners completed training programs facilitated by Grab 29
Slide 30: Tech for Good Institute
Tech for Good Institute Driving thought leadership in Southeast Asia Launched Tech for Good Institute to drive positive impact of tech on society Thought leadership platform for the public and private sector 30
Slide 31: Our Key Business Priorities
Our Key Business Priorities Winning hearts & minds Invest for growth Reduce cost to serve Further strengthen our category Continue to drive growth across Rapidly expand our ecosystem with position across our key markets our core categories our Superapp flywheel 31
Slide 32: Non-IFRS Reconciliation
Non-IFRS Reconciliation 32
Slide 33: Adjusted EBITDA to IFRS Net Loss Reconciliation
Adjusted EBITDA to IFRS Net Loss Reconciliation Q3 2021 Q3 2020 $ in billions Loss for the period (1.0) (0.6) Reconciling items: Interest expense from RCPS 0.4 0.4 Depreciation and amortization expense 0.1 0.1 Others 0.3 0.0 Adjusted EBITDA (0.2) (0.1) Note: 1. Q3 2021 and Q3 2020 are based on unaud
Slide 34: Appendix
Appendix 34
Slide 35: Incentives
Incentives $ In millions As of Q3 2020 As of Q3 2021 Base (1) Excess (2) Consumer (3) Base (1) Excess (2) Consumer (3) Incentives Incentives Incentives Incentives Incentives Incentives Deliveries 16.9 90.0 104.6 25.7 138.7 209.2 Mobility 19.3 6.1 18.9 11.1 11.8 15.2 Financial Services 0.0 0.1 12.0 0