Grab Holdings Limited · NASDAQ:GRAB
Grab — Q2 2024 Earnings Presentation
24 slides from Grab's earnings presentation, Aug 15, 2024
Slide 1: Q2 2024 Earnings Call
Q2 2024 Earnings Call August 2024 1
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 5
Slide 6: Q2 2024 Financial Highlights
Q2 2024 Financial Highlights On-Demand Revenue Group Adjusted EBITDA(2) Gross Merchandise Value(1) +17% YoY +13% YoY $64M Adjusted Free Cash Flow +23% YoY Constant Currency(3) +18% YoY Constant Currency(3) turned positive to $36M Note: 1. Gross Merchandise Value is an operating metric representing t
Slide 7: Key Product Highlights
Key Product Highlights Family Accounts Group Order Saver & Priority Deliveries Advance Booking 7
Slide 8: Group MTUs scaling to an all-time high
Financial and Operational Highlights Group MTUs scaling to an all-time high Group MTUs(1) +17% YoY (Q2 2024 vs Q2 2023) (Quarterly, in millions) 40.9 37.7 38.5 Group MTUs grew for 6 34.9 36.0 32.6 33.5 33.6 33.3 consecutive quarters to an 30.9 all-time high of 40.9M On-Demand transactions grew 22% Y
Slide 9: Expanding product suite drives ecosystem uplifts
Financial and Operational Highlights Expanding product suite drives ecosystem uplifts Affordable High Value and Premium Standard GrabCar GrabBike GrabCar GrabBike JustGrab GrabBike Saver Saver Premium Premium GrabCar Advance GrabShare GrabHitch GrabCar GrabTaxi Exec Booking 1.9x >2x 9% Higher transa
Slide 10: Robust growth in loan disbursals and bank deposits
Financial and Operational Highlights Robust growth in loan disbursals and bank deposits Total Loans Disbursed(1) 500 (Quarterly, in US$ millions) 483 443 410 Loan disbursals grew 43% YoY 350 to an annualized run-rate of 294 $2B, attributed to ecosystem 255 260 237 lending and higher lending 203 volu
Slide 11: Financial Results
Financial Results 11
Slide 12: Q2 2024 Unaudited Results: Consolidated Group
Q2 2024 Unaudited Results Consolidated Group YoY% Change Q2 2024 Q2 2023 YoY% Change (Constant Currency(2)) $ in millions, unless otherwise stated Operating Metrics On-Demand GMV(2,3) 4,434 3,939 13% 18% Group MTU(4) (millions of users) 40.9 34.9 17% - On-Demand MTU (millions of users) 36.7 30.7 19%
Slide 13: Q2 2024 Unaudited Results: Net Cash Liquidity
Q2 2024 Unaudited Results Net Cash Liquidity As of Jun 30, As of Mar 31, As of Dec 31, 2024 2024 2023 $ in millions, unless otherwise stated Cash & cash equivalents 2,447 2,113 3,138 Add: Other Long-term Investments 95 145 146 Add: Time deposits 2,365 2,083 1,752 Add: Cash investments 685 984 941 Ca
Slide 14: Q2 2024 Unaudited Results: Deliveries
Q2 2024 Unaudited Results Deliveries Revenue Gross Merchandise Value(1) Segment Adjusted EBITDA(2) ($ in millions) ($ in millions) ($ in millions) 2,850 % GMV(2) 0.4% 1.5% 356 +9% YoY +11% YoY +17% YoY (CC(3)) 2,619 +14% YoY (CC(3)) 42 320 +$32M YoY 10 Q2 2023 Q2 2024 Q2 2023 Q2 2024 Q2 2023 Q2 2024
Slide 15: Q2 2024 Unaudited Results: Mobility
Q2 2024 Unaudited Results Mobility Revenue Gross Merchandise Value(1) Segment Adjusted EBITDA(2) ($ in millions) ($ in millions) ($ in millions) % GMV(2) 8.6% 8.2% 247 1,584 +19% YoY +20% YoY 129 +25% YoY (CC(3)) +23% YoY (CC(3)) +14% YoY 1,320 208 114 Q2 2023 Q2 2024 Q2 2023 Q2 2024 Q2 2023 Q2 2024
Slide 16: Q2 2024 Unaudited Results: Financial Services
Q2 2024 Unaudited Results Financial Services Revenue Loan Portfolio(1) Segment Adjusted EBITDA(2) ($ in millions) ($ in millions) ($ in millions) 60 397 % Revenue (108.7)% (39.6)% +54% YoY +71% YoY +61% YoY (CC(3)) 39 233 (24) +$18M (42) Q2 2023 Q2 2024 Q2 2023 Q2 2024 Q2 2023 Q2 2024 Note: 1. Loan
Slide 17: Q2 2024 Unaudited Results: Incentives
Q2 2024 Unaudited Results Incentives Q2 2024 Q2 2023 Partner Consumer Total Partner Consumer Total $ In millions Incentives(1) Incentives(2) Incentives Incentives(1) Incentives(2) Incentives Deliveries 117.3 203.7 321.0 113.2 193.4 306.6 Mobility 69.2 58.5 127.7 61.9 45.5 107.4 Financial Services 0.
Slide 18: Outlook
Outlook 18
Slide 19: Outlook for 2024
Outlook Outlook for 2024 2024 Revenue $2.70B - $2.75B 14% - 17% YoY 2024 Group Adjusted EBITDA(1) $250M - $270M 2024 Adjusted Free Cash Flow(2) Positive for the full year Our FY 2024 Revenue outlook assumes an approximate 3.5 percentage point currency headwind to total YoY growth. The above outlook
Slide 20: Non-IFRS Reconciliation
Non-IFRS Reconciliation 20
Slide 21: Adjusted EBITDA to IFRS Loss for the Period Reconciliation
Adjusted EBITDA to IFRS Loss for the Period Reconciliation Three months ended Six months ended June 30, June 30, 2024(1) 2023(1) 2024(1) 2023(1) $ in millions, unless otherwise stated Loss for the period (68) (148) (184) (397) Income tax expense/(credit) 17 (5) 31 7 Share of loss of equity-accounted
Slide 22: Adjusted Free Cash Flow to Net Cash Used in Operating Activities Reconciliation
Adjusted Free Cash Flow to Net Cash used in Operating Activities Reconciliation Three months ended Six months ended June 30, June 30, 2024(1) 2023(1) 2024(1) 2023(1) $ in millions, unless otherwise stated Net cash from/(used in) operating activities 272 (51) 261 (207) Less: Capital expenditures (27)
Slide 23: Appendix
Appendix 23
Slide 24: 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