Q2 2025 Grab Holdings Ltd Earnings Call Transcript
Key Points
- Grab Holdings Ltd (GRAB) reported a strong set of results for the second quarter, with Group MTU reaching an all-time high.
- On-demand GMV accelerated to 21% year-on-year growth in US dollars, demonstrating robust demand.
- The company achieved its 14th consecutive quarter of adjusted EBITDA growth, with trailing 12 months adjusted free cash flow expanding to $229 million.
- Grab Holdings Ltd (GRAB) continues to scale its financial services business prudently, with total loan disbursements reaching close to $3 billion on an annualized run rate basis.
- The company is well-positioned to sustain growth momentum and expects to accelerate on-demand GMV growth rates relative to 2024.
- The macroeconomic environment remains uncertain, particularly in key markets like Thailand and Indonesia, which could impact future performance.
- Mobility GMV growth was slower in the second quarter compared to the first quarter, with trip fares down about 4%.
- The entry of new competitors in markets like Vietnam could increase competition in the food delivery segment.
- Consumer incentive spending remains high at around 7% of GMV, which could impact margins.
- The company faces challenges in balancing growth investments with margin expansion, particularly in the delivery segment.
Ladies and gentlemen, thank you for joining us today. My name is Fate, and I'll be your conference operator for this session. Welcome to Brab's 2nd quarter 2025 earnings results call. After the speaker's remarks, there will be a question and answer session. I'll turn it over to talk with you to start the call.
Good day everyone, and welcome to Grab's 2nd quarter earnings call. I'm Douglas Yu, director of investor relations and strategic finance at Grab, and joining me today are Anthony Tan, Chief Executive Officer, Alex Hungate, President and Chief Operating Officer, and Peter Oe, Chief Financial Officer. During this call, we will be making forward-looking statements about future events, including our future business and financial performance. These statements are based on our current beliefs and expectations. Actual results could differ materially due to a number of risks and uncertainties as described on this earnings call, in the earnings release and our Form 20 and other
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