Q1 2025 GoTo Gojek Tokopedia PT Tbk Earnings Call Transcript
Key Points
- PT Goto Gojek Tokopedia Tbk (GTOFF) reported a record-breaking profitable quarter despite the typically slow growth period during Ramadan.
- The company achieved a 54% year-on-year growth in group core GTV and a 37% increase in net revenue.
- FinTech segment showed strong results with a 236% increase in adjusted EBITDA from the previous quarter.
- On-Demand Services posted record adjusted EBITDA with an 89% year-on-year increase, marking the third consecutive quarter of margin improvement.
- The company maintained a healthy cash position with IDR21 trillion or USD1.3 billion in cash, cash equivalents, and short-term deposits.
- The macroeconomic environment remains uncertain, which could impact growth and profitability.
- There is a slowdown in the demand for new loans during the Ramadan period, affecting the FinTech segment.
- The company faces potential challenges from global economic volatility and currency depreciation.
- Despite improvements, the On-Demand Services segment still operates in an early monetization phase compared to peers in developed markets.
- The company has not provided an update on the rumored merger with a key competitor, leaving market speculation unaddressed.
Hello, everyone. This is Joel Ellis, Head of Investor Relations. Welcome to the PT GoTo Gojek Tokopedia Tbk First Quarter 2025 Earnings Conference Call. Please be advised that today's conference is being recorded. On today's call Patrick Walujo, President Director and Group CEO; and Simon Ho, Group CFO, will deliver prepared remarks.
Following their commentary, we will open up the call for questions, and be joined by Thomas Husted, our Vice President Director and President of Financial Technology; Hans Patuwo, our Chief Operating Officer; and Catherine Hindra Sutjahyo, our President of On-Demand Services. We would like to highlight that the information presented today has been prepared solely based on unaudited, consolidated, selected financial information for the 3-month period ended March 31, 2025. As a reminder, today's discussion may contain forward-looking statements about the company's future business and financial performance, as well as certain non-Indonesian financial accounting standard measures as complements to the
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