Grab Holdings Limited · NASDAQ:GRAB
Grab — Q4 2024 Earnings Presentation
27 slides from Grab's earnings presentation, Feb 19, 2025
Slide 1: Q4 2024 Earnings Call
Q4 2024 Earnings Call February 2025
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 4
Slide 5: Financial and Operational Highlights
Financial and Operational Highlights
Slide 6: Q4 2024 Financial Highlights
Q4 2024 Financial Highlights Revenue +17% YoY +15% YoY Constant Currency(3) On-Demand Gross Merchandise Value(1) +20% YoY +19% YoY Constant Currency(3) Group Adjusted EBITDA(2) $97M Profit for the Period was $11M Adjusted Free Cash Flow(2) $61M +$60M YoY Note: 1. For the definition of Gross Merchand
Slide 7: FY 2024 Financial Highlights
FY 2024 Financial Highlights Revenue +19% YoY +21% YoY Constant Currency(3) On-Demand Gross Merchandise Value(1) +16% YoY +19% YoY Constant Currency(3) Group Adjusted EBITDA(2) $313M Loss for the Period was $(158)M Trailing 12-Months Adjusted Free Cash Flow(3) $136M +$370M YoY Note: 1. For the defin
Slide 8: Saver transport rides create ecosystem uplifts
Financial and Operational Highlights Saver transport rides create ecosystem uplifts 26% Penetration of Saver transport rides across the region (Q4 2024) Proportion of new MTUs who joined the Grab 14% platform through Saver transport rides (Q4 2024) Higher average transaction frequency (Saver 1.5x tr
Slide 9: Loan book and bank deposits growing healthily
Financial and Operational Highlights Loan book and bank deposits growing healthily $2.2B $1.2B Total deposits(3) across GXS Total loans disbursed across GrabFin and Digibanks Bank and GXBank 20bps YoY reduction in Net Cost 9 in 10 GXBank customers are of Funds(1) % TPV (2) users on the Grab platform
Slide 10: Expanding our digital bank product suite
Financial and Operational Highlights Expanding our digital bank product suite FlexiCredit FlexiLoan Biz Pinjaman Atur Sendiri GX Bank GXS Bank Superbank Credit Line Facility MSME Loan Unsecured Digital Loan Note: Grab holds a 30.84% equity interest in PT Super Bank Indonesia in 2024.
Slide 11: Financial Results
Financial Results 5
Slide 12: Q4 2024 Unaudited Results Consolidated Group
Q4 2024 Unaudited Results Consolidated Group YoY% Change Q4 2024 Q4 2023 YoY% Change (Constant Currency(1)) $ in millions, unless otherwise stated Operating Metrics On-Demand GMV(2,3) 5,028 4,183 20% 19% Group MTU(2) (millions of users) 43.9 37.7 17% - On-Demand GMV per MTU ($) 126 125 1% 0% Partner
Slide 13: FY 2024 Unaudited Results Consolidated Group
FY 2024 Unaudited Results Consolidated Group YoY% Change FY 2024 FY 2023 YoY% Change (Constant Currency(1)) $ in millions, unless otherwise stated Operating Metrics On-Demand GMV(2,3) 18,364 15,785 16% 19% Group MTU(2) (millions of users) 41.3 35.5 16% - On-Demand GMV per MTU ($) 494 506 (2)% 0% Par
Slide 14: Q4 & FY 2024 Unaudited Results Net Cash Liquidity
Q4 & FY 2024 Unaudited Results Net Cash Liquidity As of Dec 31, As of Sep 30, As of Jun 30, As of Mar 31, As of Dec 31, 2024 2024 2024 2024 2023 $ in millions, unless otherwise stated Cash & cash equivalents 2,964 2,885 2,447 2,113 3,138 Add: Other Long-term Investments 115 108 95 145 146 Add: Time
Slide 15: Q4 2024 Unaudited Results Deliveries
Q4 2024 Unaudited Results Deliveries Revenue Gross Merchandise Value(1) Segment Adjusted EBITDA(2) ($ in millions) ($ in millions) ($ in millions) 407 3,213 % GMV(2) 2.1% 1.8% +19% YoY +13% YoY +18% YoY (CC(3)) +10% YoY (CC(3)) 57 362 2,709 56 +1% YoY Q4 2023 Q4 2024 Q4 2023 Q4 2024 Q4 2023 Q4 2024
Slide 16: Q4 2024 Unaudited Results Mobility
Q4 2024 Unaudited Results Mobility Revenue Gross Merchandise Value(1) Segment Adjusted EBITDA(2) ($ in millions) ($ in millions) ($ in millions) 282 1,815 % GMV(2) 8.7% 8.4% +19% YoY +23% YoY +17% YoY (CC(3)) +22% YoY (CC(3)) 153 +19% YoY 1,474 237 128 Q4 2023 Q4 2024 Q4 2023 Q4 2024 Q4 2023 Q4 2024
Slide 17: Q4 2024 Unaudited Results Financial Services
Q4 2024 Unaudited Results Financial Services Revenue Loan Portfolio(1) Segment Adjusted EBITDA(2) ($ in millions) ($ in millions) ($ in millions) 74 536 % Revenue (91.2)% (36.3)% +38% YoY +64% YoY +36% YoY (CC(3)) 326 54 (27) +$22M (49) Q4 2023 Q4 2024 Q4 2023 Q4 2024 Q4 2023 Q4 2024 Note: 1. For th
Slide 18: Q4 2024 Unaudited Results Incentives
Q4 2024 Unaudited Results Incentives Q4 2024 Q4 2023 Partner Consumer Total Partner Consumer Total $ In millions Incentives(1) Incentives(1) Incentives Incentives(1) Incentives(1) Incentives Deliveries 128.7 234.5 363.3 112.3 173.0 285.3 Mobility 75.1 70.1 145.2 60.0 48.7 108.8 Financial Services *
Slide 19: Outlook
Outlook =
Slide 20: Outlook for 2025
Outlook Outlook for 2025 $3.33B - $3.40B 2025 Revenue 19% - 22% YoY (constant currency) 2025 Group Adjusted EBITDA(1) $440M - $470M 41% - 50% YoY Note: 1. Adjusted EBITDA is a non-IFRS measure. For the definition of Segment Adjusted EBITDA, see the section titled “Definitions of Non-IFRS Measures” i
Slide 21: Non-IFRS Reconciliation
Non-IFRS Reconciliation 5
Slide 22: Adjusted EBITDA to IFRS Profit/(Loss) for the Period Reconciliation
Adjusted EBITDA to IFRS Profit/(Loss) for the Period Reconciliation Three months ended Twelve months ended December 31, December 31, 2024(1) 2023(1) 2024(1) 2023(1) $ in millions, unless otherwise stated Profit/(Loss) for the period 11 11 (158) (485) Income tax expense/(credit) * (4) 63 19 Share of
Slide 23: Adjusted EBITDA to Total Segment Adjusted EBITDA Reconciliation
Adjusted EBITDA to Total Segment Adjusted EBITDA Reconciliation Three months ended Twelve months ended December 31, December 31, 2024(1) 2023(1) 2024(1) 2023(1) $ in millions, unless otherwise stated Total Segment Adjusted EBITDA 184 13 663 376 Deliveries 57 56 196 81 Mobility 153 128 569 466 Financ
Slide 24: 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 Twelve months ended December 31, December 31, 2024 2023 2024 2023 $ in millions, unless otherwise stated Net cash from/(used in) operating activities(1) 253 (26) 852 86 Less: Capital expenditures (53) (38
Slide 25: Appendix
Appendix =
Slide 26: 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
Slide 27: Definition of Non-IFRS Financial Measures
Appendix Definition of Non-IFRS Financial Measures Adjusted EBITDA is calculated as profit (loss) for the period adjusted to exclude: (i) net finance income (costs), including interest income (expenses), foreign exchange gain (loss) and changes in fair value of financial assets and liabilities, (ii)