Actionable Stock Market Trading Newswire. Built for Traders, by Traders.
All news is property of their respective owners.

Grab Expects Adjusted EBITDA Breakeven By H2 2024

During its first Investor Day, Grab Holdings Limited (NASDAQ:GRAB) shared its plans to break even on a Group Adjusted EBITDA basis by…
byAnusuya Lahiri
September 27, 2022
2 minute read
Total
0
Shares
0
0
0
0
0
0
  • During its first Investor Day, Grab Holdings Limited (NASDAQ:GRAB) shared its plans to break even on a Group Adjusted EBITDA basis by the second half of 2024 as it accelerates its path to profitability. 
  • For the second half of 2022, Group Adjusted EBITDA will likely be $(380) million, a 27% improvement compared to the first half of 2022. 
  • Grab expects Group revenues to grow strongly between 45% – 55% year-on-year in 2023 on a constant currency basis. 
  • Grab also expects to reach breakeven for its Digibank operations by 2026.
  • COO Alex Hungate said, “We are driving growth through strategic initiatives like GrabUnlimited, GrabForBusiness, groceries, local partnerships, and advertising. At the same time, we are rolling out proprietary technology to enhance the efficiency of the platform for our merchants and driver partners. Finally, we plan to focus our fintech services on our ecosystem where we can serve customers uniquely well and create a platform for the launch of our digibanks.”
  • “Our cash position is not something that we take for granted. We will maintain a prudent stance in how we allocate and deploy our capital with this cash preservation on top of mind,” CFO Peter Oey told analysts on Grab’s first investor day, Reuters reports.
  • Grab reported second-quarter FY22 revenue growth of 79% year-on-year to $321 million.
  • Adjusted EBITDA loss margin improved 90 bps to (4.6)%. Adjusted EBITDA was $(233) million.
  • Grab cut FY22 GMV growth outlook to 21% – 25% Y/Y from previously expected 30% – 35%. It sees revenue of $1.25 billion – $1.30 billion versus the consensus of $1.25 billion.
  • Price Action: GRAB shares closed higher by 2.18% at $2.81 on Monday.
  • Photo Via Wikimedia Commons
 
Total
0
Shares
Share 0
Tweet 0
Share 0
Share 0
Share 0
Share 0
Related Posts
Read More

EU Cracks Down on Tech Giants: Apple, Alphabet, and Qualcomm in Regulatory Spotlight

By Anusuya Lahiri
January 12, 8:59 AM
EU Antitrust Chief Margrethe Vestager recently engaged in pivotal discussions with executives from leading tech companies Apple, Alphabet, and Qualcomm. These meetings, part of a larger series involving tech giants like Broadcom and Nvidia, were centered around crucial topics in European digital regulation, especially the implications of the Digital Markets Act (DMA) and broader competition policies. In her discussions with Apple's Tim Cook, Vestager addressed the necessity for Apple to allow apps to be distributed beyond its proprietary AppStore, delving into ongoing competition issues including those related to Apple Music. Her meeting with Alphabet and Google's Sundar Pichai focused on the design of choice screens, the company's self-preferencing practices in relation to the DMA, and the Google adtech antitrust case. These interactions underline the EU's commitment to regulating major tech companies, defining their roles and responsibilities as "gatekeepers" under the DMA. This includes making their messaging apps interoperable and giving users more control over app installations. The specifics of Vestager's discussion with Qualcomm's Cristiano Amon were not detailed, but she emphasized the broader economic and security significance of chip technology in the EU. These high-level meetings are critical in shaping the operations of tech companies within the EU, ensuring they align with the region's digital strategy and competition laws.

AAPL