Pt Goto Gojek Tokopedia Tbk · IDX:GOTO
Pt Goto Gojek Tokopedia Tbk — GoTo Gojek Tokopedia PT — Q1 2025 Earnings Presentation
37 slides from Pt Goto Gojek Tokopedia Tbk's earnings presentation, Apr 29, 2025
Slide 1: 1Q 2025 Results
e Go Together, Go Far 1Q 2025 Results April 2025
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”). Fo
Slide 3: Key Strategic Focus
Key Strategic Focus Financial and Operating Highlights Summary Financials Non-IFAS Reconciliations Appendix 1Q 2025 2024
Slide 4: Group Adjusted EBITDA improved by IDR 494 bn YoY
Group Adjusted EBITDA improved by IDR 494 bn YoY Group Adjusted EBITDA1,2,3 by Quarter 1Q24 2Q24 3Q24 4Q24 1Q25 Group Net Revenue1 (IDR billions) 393 +37% 326 Year on Year Growth 152 Group Core GTV1,2 (101) (64) +54% Year on Year Growth 1 4Q 1Q 2024 2025 & FY 2024Figures are on a pro forma basis whi
Slide 5: FinTech Adjusted EBITDA improved by IDR 295 bn YoY
FinTech Adjusted EBITDA improved by IDR 295 bn YoY Fintech Adjusted EBITDA1,2 by Quarter 1Q24 2Q24 3Q24 4Q24 1Q25 Fintech Net Revenue1 (IDR billions) +90% (248) (168) (65) 14 47 Year on Year Growth Fintech Core GTV1,2 +57% Year on Year Growth 1 1Q 2025 As reported 2 For the definition of GTV, Core G
Slide 6: Growing Users and GTV with Product Innovations
Growing Users and GTV with Product Innovations GoPay THR Fintech Core GTV1 (IDR trillions) 57% YoY Growth 76.1 71.6 64.6 GoPay 56.2 Hadiah THR 48.4 Drove +35% MoM increase in transfer MTUs1 in March 1Q24 2Q24 3Q24 4Q24 1Q25 1 1Q 2025 For the definition of Core GTV and MTU, please refer to the Append
Slide 7: Lending Continues to Grow, with Risk Effectively Managed
Lending Continues to Grow, with Risk Effectively Managed GoPay Later Consumer Loans1 Total Consumer Loans Outstanding Prudent Risk Management (IDR trillions) 108% YoY Growth 5.7 Tech-driven 5.2 operating model 4.3 Integrated ecosystem 3.5 Robust data-driven 2.7 framework More accurate loans pricing
Slide 8: Maintaining Operational Discipline
Maintaining Operational Discipline While Scaling Growth Opportunities Fintech Monthly Transacting Users1 20.6 Mn (1Q25) + 30% Year on Year Growth 1 1Q 2025 For the definition of Monthly Transacting Users, please refer to the Appendix 8
Slide 9: Strong Profitability with Sustainable Growth
Strong Profitability with Sustainable Growth ODS Adjusted EBITDA1,2 by Quarter 1,2 ODS Adjusted EBITDA 1Q24 2Q24 3Q24 4Q24 1Q25 +89% (IDR billions) Year on Year Growth 314 267 ODS Net Revenue3 +33% 166 156 Year on Year Growth 90 ODS GTV2,3 +17% Year on Year Growth As % of 1.2% 0.6% 0.9% 1.6% 2.0% GT
Slide 10: Mobility and Delivery: Driving Growth and Margin Expansion
Mobility and Delivery: Driving Growth and Margin Expansion Mobility1 Delivery1 Adjusted EBITDA2,3 margin Adjusted EBITDA2,3 margin (as % of GTV) (as % of GTV) 3.8% 1.4% +61 basis points +72 basis points Year on Year Year on Year Net Revenue4 Net Revenue4 +20% +39% Year on Year Year on Year Growth Gr
Slide 11: Driving Profitability Through Efficiency of Incentive Spending
Driving Profitability Through Efficiency of Incentive Spending Adopted a data-driven Focused on improving approach to gauge demand efficiency and effectiveness of elasticity at the individual level, incentive spending and adjusted incentives to drive incremental transactions To continue optimising i
Slide 12: Optimization of Premium Services
Optimization of Premium Services Food Express Premium 4W - Luxe & Prioritas Premium 2W - Comfort Food Express Increased share of total food GTV for the fifth consecutive quarter Mobility Premium Completed Orders +156% Year on Year Growth 1Q 2025 12
Slide 13: Special Delivery Fleet Program
Special Delivery Fleet Program: Enhancing Driver-partners Earnings and Delivery Cost Special Delivery Fleet Faster Deliveries More affordable delivery for consumers Higher average earnings for driver-partners Better experience for both customers & merchants Reduces costs for customers, merchants and
Slide 14: Advertising: A Significant Driver of Profitability
Advertising: A Significant Driver of Profitability Masthead Top-rated Merchant Partners Search Ads +45% Year on Year Growth Advertising Revenue 1.7% of Total Food GMV¹ as at the end of 1Q25 (vs 1.3% in 1Q24) 4Q 2025 1Q 2024 & FY 2024 1 GMV: Gross Transaction Value less delivery fees and other fees 1
Slide 15: Merchant Funded Promotions: Increased Participation & Merchants Investment
Merchant Funded Promotions: Increased Participation & Merchants Investment Merchant Funded Promotions creation Enhanced targeting and segmentation for better customer reach Merchants’ total spend increased >150% YoY in 1Q25 More relevant offers improving customer experience 1Q 2025
Slide 16: Subscriptions
Subscriptions Subscription Plans Manage Subscription Nudges Subscribers spend >3x compared to non-subscribers 1Q 2025
Slide 17: Sahabat-AI Large Language Model (LLM)
Sahabat-AI Large Language Model (LLM) Sahabat-AI continues to gather pace with more partners joining the ecosystem and more use cases, both internal and external. 1Q 2025 17
Slide 18: Guidance
To be updated Guidance FY25 Group Adjusted EBITDA IDR 1.4 - 1.6 Trillion 1Q 2025 18
Slide 19: Financial and Operating Highlights
Key Strategic Focus Financial and Operating Highlights Summary Financials Non-IFAS Reconciliations Appendix 1Q 2025 2024
Slide 20: Financial Updates
Financial Updates Cash Balance1: Buyback: E-commerce IDR 21 Trillion IDR 1.6 Trillion Service Fee3: 2 or USD 1.3 Billion or USD 99 Million 1Q25 As of end of March 2025 As of end of Mar 2025 IDR 217 Billion (up to USD 200 Million following or USD 13.1 Million Shareholders approval in June 2024) 1 cas
Slide 21: 1Q25 Group Key Operating Metrics
1Q25 Group Key Operating Metrics In IDR Trillions Group GTV1,2 Group Net Revenue1 Group Adjusted EBITDA1,2, 3 +24% +37% +36bps Year on Year Year on Year As % of GTV Year on Year 144.6 4.2 0.10.39 116.5 3.1 Core GTV 83.2 Core GTV 54.2 Core GTV2 (0.10) +54% 1Q24 1Q25 1Q24 1Q25 1Q24 1Q25 1 Figures are
Slide 22: 1Q25 FinTech Key Operating Metrics
1Q25 FinTech Key Operating Metrics In IDR Trillions Fintech GTV1,2 Fintech Net Revenue1 Fintech Adjusted EBITDA1,2 +25% +90% +26bps Year on Year Year on Year As % of GTV Year on Year 138.4 1.2 0.10.05 (0.25) 111.0 0.64 Core GTV 76.1 Core GTV 48.4 Core GTV2 +57% 1Q24 1Q25 1Q24 1Q25 1Q24 1Q25 1Q 2025
Slide 23: Loan Portfolio Quality
Loan Portfolio Quality Consumer Loans Outstanding1 in IDR trillions Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Current 2.58 3.25 4.08 4.83 5.10 Overdue: 1-30 days past due 0.05 0.08 0.13 0.15 0.15 31-90 days past due 0.08 0.09 0.08 0.12 0.23 >90 days past due 0.03 0.04 0.02 0.02 0.06 Total 2.73 3.46 4.31 5.
Slide 24: 1Q25 ODS Key Operating Metrics
1Q25 ODS Key Operating Metrics In IDR Trillions ODS GTV2,3 ODS Net Revenue3 ODS Adjusted EBITDA1,2 +17% +33% +89% Year on Year Year on Year Year on Year 3.0 0.31 0.1 15.7 13.4 2.3 0.17 1Q24 1Q25 1Q24 1Q25 1Q24 1Q25 As % 16.8% 19.1% 1.2% 2.0% of GTV 1 As reported 1Q 2025 2 For the definition of GTV a
Slide 25: 1Q25 On Demand Services - Mobility and Delivery
1Q25 On Demand Services - Mobility In IDR Trillions GTV2,3 Net Revenue3 Adjusted EBITDA1,2,4 +17% +20% +33% Year on Year Year on Year Year on Year 5.9 0.75 0.22 5.1 0.63 0.17 1Q24 1Q25 1Q24 1Q25 1Q24 1Q25 12.4% 12.7% 3.2% 3.8% As % of GTV 1Q25 On Demand Services - Delivery In IDR Trillions GTV2,3 Ne
Slide 26: Summary Financials
Key Strategic Focus Financial and Operating Highlights Summary Financials Non-IFAS Reconciliations Appendix 1Q 2025 2024
Slide 27: Summary operating & financial metrics
Summary For Three Months Ended For Three Months Ended operating & March 31 - Pro Forma1 March 31 - Reported 2025 2024 2025 2024 financial Group GTV 144,560 116,506 144,560 134,792 metrics Group Net Revenue 4,231 3,078 4,231 4,079 In IDR Billions, unless otherwise stated Take rate 2.9% 2.6% 2.9% 3.0%
Slide 28: Non-IFAS Reconciliations
Key Strategic Focus Financial and Operating Highlights Summary Financials Non-IFAS Reconciliations Appendix 1Q 2025 2024
Slide 29: Group Adjusted EBITDA reconciliation
Group For Three Months Ended Mar 31 - Pro Forma1 For Three Months Ended Mar 31 - Reported Adjusted Loss before income tax 2025 (181) 20242 (428) 2025 (272) 20242 (960) EBITDA Add/(Deduct): Depreciation and amortization expenses 160 179 160 340 reconciliation Finance income (156) (180) (156) (188) In
Slide 30: Segment Adjusted EBITDA reconciliation
Segment For Three Months Ended Mar 31, 2025 Total Adjusted On-demand services Financial technology eCommerce All other segments Corporate costs Consolidated As Reported EBITDA Segment profit/(loss) from operations 193 (158) 95 - (323) (193) reconciliation Add/(Deduct): In IDR Billions, Depreciation
Slide 31: ODS Segment by Product
ODS Segment by Product Q1’24 ODS Segment by Product Q2’24 Q3’24 Q4’24 Q1’25 In IDR Billions, unless otherwise stated Mobility GTV 5,290 5,678 6,350 6,359 5,899 1 Core GTV 5,057 5,477 6,221 6,359 5,899 Net revenue1 627 645 715 746 752 2 Adjusted EBITDA 167 158 185 226 222 As % of GTV 3.16% 2.78% 2.91
Slide 32: Change in Adjusted EBITDA
Change in Pro forma 1Q24 2Q24 3Q24 4Q24 Adjusted Adjusted EBITDA - as published Adjusted for: (102) (48) 137 399 EBITDA Realized foreign exchange gains and losses Adjusted EBITDA - updated 1 (101) (16) (64) 15 152 (73) 326 Definition In IDR Billions, unless otherwise stated Reported 1Q24 2Q24 3Q24 4
Slide 33: Appendix
Key Strategic Focus Financial and Operating Highlights Summary Financials Non-IFAS Reconciliations Appendix 1Q 2025 2024
Slide 34: Key Result in 1Q25
Key Result in Group - Pro Forma1 1Q24 1Q25 YoY 2 GTV 116,506 144,560 24% 1Q25 Core GTV2 54,164 83,221 54% Net Revenue 3,078 4,231 37% In IDR Billions, 2 unless otherwise stated Adjusted EBITDA -101 393 N.A Adjusted EBITDA as % of GTV -0.1% 0.3% 36 bps Financial Technology - As Reported 1Q24 1Q25 YoY
Slide 35: Seasonal Impact of Fasting Period Across Our Business Lines
Seasonal Impact of Fasting Period Across Our Business Lines Impact Mobility Intra-city travel activity decreases as people fast and reduce non-essential activities Delivery Food delivery volume during the day decreases, as people fast until the evening Seasonal bonuses (THR) reduce the need for borr
Slide 36: Appendix: Non-IFAS Measures and Operating Metrics
Appendix Non-IFAS Measures - Adjusted EBITDA is calculated beginning with loss before income tax and adjusting for (i) depreciation and amortization expenses; (ii) finance income; (iii) interest expenses; (iv) loss on impairment of assets of disposal group classified as held for sale; (v) (reversal)
Slide 37: Go Together, Go Far.
Go Together, Go Far. 1Q 2025 2024
GoTo Gojek Tokopedia PT — Q1 2025 Earnings Presentation on 6ix