{"id":689021,"date":"2022-09-27T00:20:06","date_gmt":"2022-09-27T04:20:06","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/grab-targets-group-adjusted-ebitda-breakeven-by-h2-2024-as-it-accelerates-path-to-profitability\/"},"modified":"2022-09-27T00:20:06","modified_gmt":"2022-09-27T04:20:06","slug":"grab-targets-group-adjusted-ebitda-breakeven-by-h2-2024-as-it-accelerates-path-to-profitability","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/grab-targets-group-adjusted-ebitda-breakeven-by-h2-2024-as-it-accelerates-path-to-profitability\/","title":{"rendered":"Grab targets Group Adjusted EBITDA breakeven by H2 2024 as it accelerates path to profitability"},"content":{"rendered":"<p>        <!--.bwalignl { text-align: left }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwlistdisc { list-style-type: disc }\n.bwpadl0 { padding-left: 0px }\n.bwpadr0 { padding-right: 0px }\n.bwrowaltcolor0 { background-color: #cceeff }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwuline { text-decoration: underline }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignm { vertical-align: middle }\n.bwwidth1 { width: 1% }\n.bwwidth13 { width: 13% }\n.bwwidth46 { width: 46% }\n.bwwidth75 { width: 75% }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>Grab targets Group Adjusted EBITDA breakeven by H2 2024 as it accelerates path to profitability<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nExpects revenue to grow by 45%-55% in 2023 on a constant currency basis\n<\/li>\n<li>\nDetails ecosystem-focused strategy at first investor day as it drives to become Southeast Asia\u2019s largest and most efficient on-demand platform for local commerce and mobility\n<\/li>\n<\/ul>\n<p>SINGAPORE&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nGrab Holdings Limited (NASDAQ: GRAB) announced today at its first Investor Day that it is targeting to achieve breakeven on a Group Adjusted EBITDA<sup>1<\/sup> basis by the second half of 2024, as it accelerates its path to profitability. For the second half of 2022, Group Adjusted EBITDA is expected to be $(380) million, a 27% improvement compared to the first half of 2022. With a focus on sustainable growth, Grab also announced that it expects Group revenues to grow strongly between 45% to 55% year-on-year in 2023 on a constant currency basis<sup>2<\/sup>. Grab also expects to reach breakeven for its Digibank operations by 2026.\n<\/p>\n<p><b>Anthony Tan, Chief Executive Officer and Co-Founder<\/b>, <b>Grab <\/b>shared, \u201cWe\u2019ve been firing on all cylinders to improve our profitability trajectory and deliver growth in a sustainable manner and the new targets we\u2019ve shared today reflect that. Ten years and ten billion journeys later, we still feel like we are barely scratching the surface in our mission to drive Southeast Asia forward. We believe there is a huge runway of growth ahead of us in serving this region and we are well positioned with our resources to capitalize on the vast opportunities. We plan to leverage the power of the superapp ecosystem as a competitive moat to strengthen our leadership in the region, even as we continue to optimize our costs. We will drive towards becoming Southeast Asia\u2019s largest and most efficient on-demand platform that enables local commerce and mobility.\u201d\n<\/p>\n<p><b>Alex Hungate, Chief Operating Officer, Grab <\/b>added, \u201cWe 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.\u201d\n<\/p>\n<p>\nExecutives today detailed a strategic roadmap that includes:\n<\/p>\n<p><b><span class=\"bwuline\">Improving on-demand efficiency across core verticals<\/span><\/b><\/p>\n<p>\nSegment Adjusted EBITDA margins <sup>3<\/sup> for Mobility have recovered back to their expected steady state of 12% as of the second quarter of 2022, and Grab is accelerating deliveries towards Segment Adjusted EBITDA<sup>4<\/sup> breakeven by the second quarter of 2023 and steady state margins of 3% and above.\n<\/p>\n<p>\nDriver-partner levels are today at approximately 77% of pre-pandemic levels<sup>5<\/sup>. In the near term, Grab is focused on rebuilding supply to meet the recovery in mobility demand, at the same time scaling tech and product innovations to maximize the productivity of every second of available driver time through more efficient batching, supply positioning, and reducing waiting time.\n<\/p>\n<p>\nJust-in-Time Allocation is a new initiative rolled out in 2022 to improve the accuracy of estimates on food preparation time, and allocates orders to drivers to ensure they arrive closer to or only after the food is ready for collection. In July 2022 alone, this eliminated approximately 12 million minutes of driver-partner wait time from our network compared to February 2022, when we started this initiative, freeing up driver capacity to fulfill more orders and increasing their earnings potential.\n<\/p>\n<p>\nGrab plans to continue to build tech-driven efficiency that allows driver-partners to make shorter stops, deliver larger batches, and increase overall productivity. As of August 2022, Grab has seen 19% higher batch rates, as well as an 11% increase in trips per transit hour<sup>6<\/sup>.\n<\/p>\n<p><b><span class=\"bwuline\">Expanding GrabUnlimited as a strategic growth lever<\/span><\/b><\/p>\n<p>\nBringing together the best of the various services Grab has to offer, Grab has expanded its pilot monthly subscription program, GrabUnlimited, to five countries &#8211; Indonesia, Malaysia, Singapore, Thailand and the Philippines<sup>7<\/sup>. For a flat monthly fee, users enjoy benefits and deals across various services on the Grab superapp, including mobility, food and parcel deliveries.\n<\/p>\n<p>\nGrab sees this unique, ecosystem-wide program as a key growth lever and competitive advantage over monoline providers.\n<\/p>\n<p>\nIts early adoption has shown greater user engagement and retention, larger basket sizes and increased order frequency. Average GrabFood GMV<sup>8<\/sup> from GrabUnlimited subscribers is 2.4 times higher than from non-subscribers, with subscribers also transacting 2 times more on average compared to non-subscribers<sup>9<\/sup>. Grab\u2019s plans for GrabUnlimited are to further strengthen the value proposition of the Grab platform by integrating more services into the benefits, and to tap on Grab\u2019s vast network of brand partners to offer specially curated experiences.\n<\/p>\n<p><b><span class=\"bwuline\">Advancing Grab\u2019s supermarket strategy through new strategic partnership with Trans<\/span><span class=\"bwuline\">Retail, one of Indonesia\u2019s largest grocery retailers<\/span><\/b><\/p>\n<p>\nGrab aims to leverage partnerships to drive growth for grocery and mart deliveries in a cost-sustainable manner, as a key growth initiative to support its goal to build the largest and most efficient on-demand platform for mobility and deliveries.\n<\/p>\n<p>\nFollowing its acquisition of a majority economic interest in Jaya Grocer in Malaysia, Grab has entered a strategic partnership and investment into PT Trans Retail (Trans Retail), part of a leading consumer conglomerate group CT Corp and one of Indonesia\u2019s largest hypermarket chains. The strategic partnership aims to accelerate the expansion of on-demand grocery delivery while creating better grocery shopping experiences for consumers in Indonesia.\n<\/p>\n<p>\nTrans Retail operates a network of over 110 hypermarkets and supermarkets, under the popular brand Transmart, across 28 Indonesian cities. The strategic partnership is expected to see deeper integration between both companies, where Trans Retail will integrate all of Grab\u2019s core services into its grocery stores, while Grab will leverage Trans Retail\u2019s hypermarket infrastructure to scale on-demand grocery delivery at lower costs.\n<\/p>\n<p>\nFor example, Grab is closing its existing dark stores and moving operations to Trans Retail\u2019s facilities, leveraging its vast retail footprint, warehousing capabilities, and purchasing power to enhance its current groceries and everyday essentials on demand offering. This is also expected to reduce Grab\u2019s operating costs.\n<\/p>\n<p><b><span class=\"bwuline\">Nascent opportunities in enterprise to boost top and bottom-line;<\/span><\/b><\/p>\n<p>\nGrab is now 100% self-sufficient with GrabMaps, with Grab services in all eight countries now fully powered by Grab&#8217;s own map tech and location-based intelligence. Grab estimates this move to avoid tens of millions of dollars in potential third-party mapping fees every year.\n<\/p>\n<p><b>About Grab<\/b><\/p>\n<p>\nGrab is Southeast Asia\u2019s leading superapp based on GMV in 2021 in each of food deliveries, mobility and the e-wallets segment of financial services, according to Euromonitor. Grab operates across the deliveries, mobility and digital financial services sectors in over 480 cities in eight countries in the Southeast Asia region \u2013 Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Grab enables millions of people each day to access its driver- and merchant-partners to order food or groceries, send packages, hail a ride or taxi, pay for online purchases or access services such as lending, insurance, wealth management and telemedicine, all through a single \u201ceveryday everything\u201d app. Grab was founded in 2012 with the mission to drive Southeast Asia forward by creating economic empowerment for everyone, and since then, the Grab app has been downloaded onto millions of mobile devices. Grab strives to serve a triple bottom line: to simultaneously deliver financial performance for its shareholders and have a positive social and environmental impact in Southeast Asia.\n<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nThis document contains \u201cforward-looking statements\u201d within the meaning of the \u201csafe harbor\u201d provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this document, including but not limited to, statements about Grab\u2019s goals, targets, projections, outlooks, roadmaps, estimations, steady-state information, beliefs and expectations, business strategy and plans, objectives of management for future operations of Grab, market sizes, and growth opportunities. Some of these forward-looking statements can be identified by the use of forward-looking words, including \u201canticipate,\u201d \u201cexpect,\u201d \u201csuggest,\u201d \u201cplan,\u201d \u201cbelieve,\u201d \u201cintend,\u201d \u201cestimate,\u201d \u201ctarget,\u201d \u201cproject,\u201d \u201cshould,\u201d \u201ccould,\u201d \u201cwould,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cforecast\u201d or other similar expressions. Forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of Grab, which involve inherent risks and uncertainties, and therefore should not be relied upon as being necessarily indicative of future results. A number of factors, including macro-economic, industry, business, regulatory and other risks, could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to: Grab\u2019s ability to grow at the desired rate or scale and its ability to manage its growth; its ability to further develop its business, including new products and services; its ability to attract and retain partners and consumers; its ability to compete effectively in the intensely competitive and constantly changing market; its ability to continue to raise sufficient capital; its ability to reduce net losses and the use of partner and consumer incentives, and to achieve profitability; potential impact of the complex legal and regulatory environment on its business; its ability to protect and maintain its brand and reputation; general economic conditions, in particular as a result of COVID-19 and currency exchange fluctuations; expected growth of markets in which Grab operates or may operate; and its ability to defend any legal or governmental proceedings instituted against it. In addition to the foregoing factors, you should also carefully consider the other risks and uncertainties described in the \u201cRisk Factors\u201d section of Grab\u2019s registration statement on Form F-1 and the prospectus therein, and other documents filed by Grab from time to time with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d).\n<\/p>\n<p>\nForward-looking statements speak only as of the date they are made. Grab does not undertake any obligation to update any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required under applicable law.\n<\/p>\n<p><b>Unaudited Financial Information and Non-IFRS Financial Measures<\/b><\/p>\n<p>\nGrab\u2019s unaudited selected financial data for the three months ended June 30, 2022 and 2021 and other interim periods included in this document is based on financial data derived from the Grab\u2019s management accounts that have not been reviewed or audited.\n<\/p>\n<p>\nThis document also includes references to non-IFRS financial measures, which include: Adjusted EBITDA, Segment Adjusted EBITDA and Segment Adjusted EBITDA margin. However, the presentation of these non-IFRS financial measures is not intended to be considered in isolation from, or as an alternative to, financial measures determined in accordance with IFRS. In addition, these non-IFRS financial measures may differ from non-IFRS financial measures with comparable names used by other companies.\n<\/p>\n<p>\nGrab uses these non-IFRS financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons, and Grab\u2019s management believes that these non-IFRS financial measures provide meaningful supplemental information regarding its performance by excluding certain items that may not be indicative of its recurring core business operating results. For example, Grab\u2019s management uses: Segment Adjusted EBITDA as a useful indicator of the economics of Grab\u2019s business segments, as it does not include regional corporate costs. With regard to forward-looking non-IFRS guidance and targets provided in this document, Grab is unable to provide a reconciliation of these forward-looking non-IFRS measures to the most directly comparable IFRS measures without unreasonable efforts because the information needed to reconcile these measures is dependent on future events, many of which Grab is unable to control or predict.\n<\/p>\n<p>\nThere are a number of limitations related to the use of non-IFRS financial measures. In light of these limitations, we provide specific information regarding the IFRS amounts excluded from these non-IFRS financial measures and evaluate these non-IFRS financial measures together with their relevant financial measures in accordance with IFRS.\n<\/p>\n<p>\nThis document contains forward-looking statements regarding Grab\u2019s estimation or expectation of its future revenue on a constant currency basis. The expected constant currency growth rate information provides a framework for assessing how Grab estimates or expects its revenue will perform excluding the effect of foreign currency rate fluctuations.\n<\/p>\n<p>\nExplanation of non-IFRS financial measures:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nAdjusted EBITDA is a non-IFRS financial measure calculated as net loss adjusted to exclude: (i) interest income (expenses), (ii) other income (expenses), (iii) income tax expenses (credit), (iv) depreciation and amortization, (v) share-based compensation expenses, (vi) costs related to mergers and acquisitions, (vii) unrealized foreign exchange gain (loss), (viii) impairment losses on goodwill and non-financial assets, (ix) fair value changes on investments, (x) restructuring costs, (xi) legal, tax and regulatory settlement provisions and (xii) share listing and associated expenses.\n<\/li>\n<li>\nSegment Adjusted EBITDA is a non-IFRS financial measure, representing the Adjusted EBITDA of each of our four business segments, excluding, in each case, regional corporate costs.\n<\/li>\n<li>\nSegment Adjusted EBITDA margin is a non-IFRS financial measure calculated as Segment Adjusted EBITDA divided by Gross Merchandise Value.\n<\/li>\n<\/ul>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth75\">\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth46\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\"><b>Q2 2022<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\"><b>Q2 2021<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\"><b>1H 2022<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\"><b>1H 2021<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n($ in millions, unless otherwise stated)\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth13\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth13\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth13\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth13\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Loss for the period<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(572)\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(801)\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(1,007)\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(1,467)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth46\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet interest expenses\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n18\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n444\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n45\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n864\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther income\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(1)\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(6)\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(3)\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(11)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nIncome tax expenses\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n2\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n2\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n3\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n3\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDepreciation and amortization\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n38\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n86\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n72\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n170\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nShare-based compensation expenses\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n111\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n106\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n231\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n140\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nUnrealized foreign exchange gain\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(4)\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(4)\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(4)\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(4)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nImpairment losses on goodwill and non-financial assets\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n*\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n3\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n3\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n2\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nFair value change on investments\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n173\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(60)\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n133\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(47)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nRestructuring costs\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n1\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n*\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n1\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n*\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLegal, tax and regulatory settlement provisions\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n1\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n16\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n6\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n25\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Adjusted EBITDA<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(233)\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(214)\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(520)\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(325)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nRegional corporate costs\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n214\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n200\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n426\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n346\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Total Segment Adjusted EBITDA<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(19)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(14)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(94)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n21\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSegment Adjusted EBITDA\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDeliveries\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(34)\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(20)\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(90)\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(24)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nMobility\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n125\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n90\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n207\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n205\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nFinancial services\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(115)\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(85)\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(217)\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(163)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nEnterprise and new initiatives\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n5\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n1\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n6\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n3\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Total Segment Adjusted EBITDA<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(19)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(14)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(94)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth13 bwalignl bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n21\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth46 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n* Amount less than $1 million\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth13\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth13\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth13\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth13\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><sup>[1]<\/sup> Adjusted EBITDA is a non-IFRS financial measure. See \u201cUnaudited Financial Information and Non-IFRS Financial Measures\u201d at the end of this press release for its definition and reconciliations to the most directly comparable IFRS measure.\n<\/p>\n<p><sup>[2]<\/sup> We apply constant currency to forecasts using 2022 monthly exchange rates for our transacted currencies other than the U.S. dollar.\n<\/p>\n<p><sup>[3]<\/sup> Segment Adjusted EBITDA margin is a non-IFRS financial measure. See \u201cUnaudited Financial Information and Non-IFRS Financial Measures\u201d at the end of this press release for its definition.\n<\/p>\n<p><sup>[4]<\/sup> Segment Adjusted EBITDA is a non-IFRS financial measure. See \u201cUnaudited Financial Information and Non-IFRS Financial Measures\u201d at the end of this press release for its definition and reconciliations to the most directly comparable IFRS measure.\n<\/p>\n<p><sup>[5]<\/sup> Active driver-partners in Q2 2022 compared to Q4 2019.\n<\/p>\n<p><sup>[6]<\/sup> Compared to Q4 2021.\n<\/p>\n<p><sup>[7]<\/sup> Metro Manila only.\n<\/p>\n<p><sup>[8]<\/sup> GMV means gross merchandise value, an operating metric representing the sum of the total dollar value of transactions from Grab\u2019s services, including any applicable taxes, tips, tolls and fees, over the period of measurement.\n<\/p>\n<p><sup>[9]<\/sup> Comparison was made for the month of June 2022, and excludes the Philippines.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20220926005855r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20220926005855\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20220926005855\/en\/<\/a><\/span><\/p>\n<p><i>Media<br \/>\n<\/i><br \/>Grab: <a rel=\"nofollow\" href=\"mailto:press@grab.com\"><b>press@grab.com<br \/>\n<\/b><\/a><br \/>FGS Global: <a rel=\"nofollow\" href=\"mailto:Grab@fgsglobal.com\"><b>Grab@fgsglobal.com<br \/>\n<\/b><\/a><\/p>\n<p>Investors<br \/>\n<br \/>Grab: <b><a rel=\"nofollow\" href=\"mailto:investor.relations@grab.com\">investor.relations@grab.com<br \/>\n<\/a><\/b><br \/>Source: Grab Holdings Limited\n<\/p>\n<p><b>KEYWORDS:<\/b> Asia Pacific Singapore<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Professional Services Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Grab targets Group Adjusted EBITDA breakeven by H2 2024 as it accelerates path to profitability Expects revenue to grow by 45%-55% in 2023 on a constant currency basis Details ecosystem-focused strategy at first investor day as it drives to become Southeast Asia\u2019s largest and most efficient on-demand platform for local commerce and mobility SINGAPORE&#8211;(BUSINESS WIRE)&#8211; Grab Holdings Limited (NASDAQ: GRAB) announced today at its first Investor Day that it is targeting to achieve breakeven on a Group Adjusted EBITDA1 basis by the second half of 2024, as it accelerates its path to profitability. For the second half of 2022, Group Adjusted EBITDA is expected to be $(380) million, a 27% improvement compared to the first half of 2022. With a &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/grab-targets-group-adjusted-ebitda-breakeven-by-h2-2024-as-it-accelerates-path-to-profitability\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Grab targets Group Adjusted EBITDA breakeven by H2 2024 as it accelerates path to profitability&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-689021","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Grab targets Group Adjusted EBITDA breakeven by H2 2024 as it accelerates path to profitability - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/grab-targets-group-adjusted-ebitda-breakeven-by-h2-2024-as-it-accelerates-path-to-profitability\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Grab targets Group Adjusted EBITDA breakeven by H2 2024 as it accelerates path to profitability - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Grab targets Group Adjusted EBITDA breakeven by H2 2024 as it accelerates path to profitability Expects revenue to grow by 45%-55% in 2023 on a constant currency basis Details ecosystem-focused strategy at first investor day as it drives to become Southeast Asia\u2019s largest and most efficient on-demand platform for local commerce and mobility SINGAPORE&#8211;(BUSINESS WIRE)&#8211; Grab Holdings Limited (NASDAQ: GRAB) announced today at its first Investor Day that it is targeting to achieve breakeven on a Group Adjusted EBITDA1 basis by the second half of 2024, as it accelerates its path to profitability. For the second half of 2022, Group Adjusted EBITDA is expected to be $(380) million, a 27% improvement compared to the first half of 2022. 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For the second half of 2022, Group Adjusted EBITDA is expected to be $(380) million, a 27% improvement compared to the first half of 2022. 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