Q4 2024 GoTo Gojek Tokopedia PT Tbk Earnings Call Transcript
Key Points
- PT Goto Gojek Tokopedia Tbk (GTOFF) achieved all-time highs in GTV, revenue, adjusted EBITDA, and margins in 2024, with consistent quarter-on-quarter improvements.
- The fintech segment became adjusted EBITDA positive in Q4 2024, a full year ahead of previous guidance, driven by innovations like the standalone GoPay app and expanded consumer loan offerings.
- The company reported a 66% year-on-year growth in group core GTV in Q4 2024, reaching IDR79 trillion (USD4.9 billion), and a 28% year-on-year increase in gross revenue.
- PT Goto Gojek Tokopedia Tbk (GTOFF) successfully optimized incentive spending, leading to a 28% year-on-year increase in ODS contribution margin.
- The company maintains a strong cash balance with IDR21 trillion (USD1.3 billion) in cash, cash equivalents, and short-term time deposits as of December 31, 2024.
- The company's financial information presented in the earnings call was based on unaudited figures, which may lead to discrepancies upon final auditing.
- There are concerns about the global macroeconomic environment potentially impacting consumer spending and the company's growth trajectory.
- PT Goto Gojek Tokopedia Tbk (GTOFF) faces intense competition in the on-demand services sector, which could pressure market share and profitability.
- The company has not provided long-term targets for EBITDA margins, creating uncertainty about future profitability improvements.
- There are concerns about asset quality in the fintech segment, although the company reports stable delinquency rates.
Hello everyone, this is Joel Ellis, Head of Investor Relations. Welcome to the PT GoTo Gojek Tokopedia Tbk fourth quarter and financial year 2024 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 the commentary, Thomas Husted, our Vice President Director and President of Financial Technology; Hans Patuwo, our Chief Operating Officer, and Catherine 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 three month period ended December 31, 2024 and 2023.
We have also submitted and published our consolidated audited financial statements as of and for the 12 months ended December 31, 2024.
As a reminder, today's discussion may contain forward-looking statements about the company's future business and
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