GOTO Reveals Positive Adjusted EBITDA in 4Q2023, Targeted to Be Fully Realized This Year

Some time ago, PT GoTo Gojek Tokopedia Tbk (IDX: GOTO) said it had achieved positive adjusted Group EBITDA in the fourth quarter of 2023 following completion of the transaction Tokopedia and TikTok.

Referring to GoTo's Incidental Public Expose, the company targets positive adjusted Group EBITDA to be fully realized throughout 2024.

There are several other realizations and targets for GoTo this year. Releasing control of shares in Tokopedia allows GoTo to focus more on channeling capital and resources into the business on-demand and their digital financial services.

• GoTo's On-Demand business has achieved positive adjusted EBITDA in Q4 2023. The value was not stated, but as an illustration, the realization in Q3 2023 was recorded at minus IDR 48 billion.
• GoTo aims for sustainable revenue from fees (fee) service E-commerce on Tokopedia. As an illustration, e-commerce fees The proceeds reached IDR 177 billion in Q4 2023.

In detail, GoTo will drive user frequency Existing on GoCar Hemat and GoFood Hemat, and GoPay app. Then, increase monetization for products with take rate higher on financial services GoPayLater, GoPay Pinjam, and GoPay Savings by Jago.

His party will also develop digital payments in the strategic partnership between Tokopedia and TikTok Shop. One of them is product paylater. Apart from that, GoTo said it would continue to improve efficiency in managing the company's business expenses, including incentives and promotions.

In this presentation, GoTo has also calculated earnings fee services assuming e-industry GMVtrade grew 14,5%, which will also boost Tokopedia's GMV growth. Based on e-Conomy SEA 2023 research, GMV E-commerce in Indonesia it is projected to reach $160 billion or grow at 14,5% CAGR.

It should be noted, Tokopedia's financial reports will not be consolidated into GoTo's financial reports as of February 1, 2024. Losses experienced by GoTo from the loss of control over Tokopedia reached IDR 80,3 trillion.