Jakarta, December 8, 2022—PT GoTo Gojek Tokopedia Tbk (“GoTo” or “the Company”), Indonesia’s largest digital ecosystem, today held an Incidental Public Expose to highlight its performance and business priorities up to the third quarter of 2022. In this Public Expose, the Company reaffirmed its commitment to sustained business growth and an accelerated path towards profitability amidst global macroeconomic uncertainty.
Andre Soelistyo, GoTo Group CEO, said: “The strong set of results we posted in the third quarter displayed continued top line growth and margin improvement, putting us on a firm footing that will allow us to accelerate our path towards profitability. This achievement was the result of key priorities including: a focus on high-quality customers, sustainable, product-led growth, enhanced ecosystem synergies, as well as the disciplined management of incentives and operational expenses. Recently-launched products such as the GoTo Plus subscription and the expansion of GoPay Coins as an ecosystem rewards currency underscore this approach, helping us to pursue greater monetisation while maintaining customer engagement.”
Jacky Lo, GoTo Group CFO, said: “Our solid performance to date reflects our business resilience and the strength of Indonesia’s economic fundamentals. We have seen great improvements in the Group’s contribution margin and adjusted EBITDA, with our On-Demand Services segment reaching contribution margin positive in September 2022, significantly earlier than expected. We are committed to continuing this positive trend through continuous high-quality business growth and an ongoing focus on efficiency, to further accelerate our path towards profitability.”
Innovation Across Main Business Lines
GoTo’s management discussed the Company’s strategy to spur high-quality growth through product-led innovation, elaborating on various products and services that were recently introduced and have further deepened GoTo’s ecosystem synergies:
- Expansion of GoPay Coins to all consumers across the GoTo ecosystem. As a common rewards currency for GoTo’s products, GoPay Coins supports new user acquisition at lower cost, and incentivises them to transact within the GoTo ecosystem.
- GoTo Plus has recorded more than 50,000 paying subscribers in a short period of time.
- GoPayLater Cicil, an installment payment product, has been introduced on a limited basis to 4 million whitelisted consumers.
- GoFood Hemat (Economy Mode), offers a more economical food delivery option for a delivery range of below two kilometers.
- GoTransit, in partnership with Kereta Commuter Indonesia (KCI), has made it easier for consumers to purchase KCI tickets through the Gojek app. GoTransit has since grown to be the market leader in online ticket sales for KCI.
Furthermore, the Company’s management reiterated the Group’s performance, as well as the performance of its three business segments, On-Demand Services, E-Commerce, and Financial Technology Services. Some of the highlights included:
- Group quarterly GTV grew 33% year-on-year, reaching Rp161 trillion.
- Group quarterly gross revenue grew 30% year-on-year, to reach Rp5.9 trillion.
- Quarterly GTV for On-Demand Services grew 24% year-on-year to reach Rp15.7 trillion.
- Quarterly GTV for E-Commerce grew 15% year-on-year to reach Rp69.9 trillion.
- Quarterly GTV for Financial Technology Services grew by 78% year-on-year to reach Rp97.1 trillion.
On the Environmental, Social and Governance (ESG) front, the Company showcased the results of its activities in the third quarter of 2022. These included:
- Receiving a provisional AA rating from MSCI for the Company’s ESG performance. GoTo is an industry leader in the fight against climate change, and is in the top quartile for information security, data privacy, and human resource management.
- Electrum, an EV ecosystem joint venture between GoTo and TBS Energi Utama, has recorded 4 million kilometers of electric motorbike rides, exceeding the original target of 1 million kilometers by the end of 2022.
- The launch of Tokopedia Hijau, the Company’s first e-commerce guide to support merchants in their efforts to transition to more sustainable business practices through multiple initiatives, including the reduction of packaging materials and operational costs.
The Public Expose was held live through the YouTube channels of Gojek Indonesia, Tokopedia, and GoPay Indonesia. The presentation material will be available on the Company’s website (www.gotocompany.com) and through the Information Disclosure available on the Indonesia Stock Exchange website (www.idx.co.id).
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About GoTo Group
PT GoTo Gojek Tokopedia Tbk (GoTo Group) is the largest digital ecosystem in Indonesia. GoTo’s mission is to “empower progress” by offering technology infrastructure and solutions that help everyone to access and thrive in the digital economy. The GoTo ecosystem consists of on-demand services (mobility, food delivery, and logistics), e-commerce (third party marketplaces + official stores, instant commerce, interactive commerce, and rural commerce), and financial technology (payments, financial services, and technology solutions for merchants) through the Gojek, Tokopedia, and GoTo Financial platforms.
Contacts
Corporate Affairs, GoTo
corporate.affairs@gotocompany.com
