Summary by Moomoo AI
Grab, Southeast Asia's leading superapp, reported robust financial results for FY2024, with revenue climbing 19% YoY to $2.8B. The company significantly narrowed its net loss by 67% YoY to $158M, while achieving positive Adjusted EBITDA of $313M compared to -$22M in 2023. The deliveries and mobility segments contributed 90% of total revenue, with deliveries generating $1.5B (+14% YoY) and mobility reaching $1.0B (+20% YoY).Financial services showed strong growth with revenue increasing 43% YoY to $253M, while customer deposits surged 227% YoY to $1.2B. The company maintained a solid financial position with $2.96B in cash and cash equivalents, and total financial assets of $7.38B against liabilities of $2.65B. Segment-wise, both deliveries and mobility demonstrated improved profitability, with Adjusted EBITDA growing 142% and 22% YoY respectively.Strategic initiatives included the full repayment of Term Loan B Facility, acquisition of Malaysian premium grocery chain Everrise, and launch of a $500M share repurchase program. The company expanded its digital banking presence across Singapore, Malaysia, and Indonesia, while maintaining strong liquidity management and addressing currency and interest rate risks.
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