GTOFF - PT GoTo Gojek Tokopedia Tbk (GTOFF) Q4 2023 Earnings Call Transcript
2024-03-19 13:02:03 ET
PT GoTo Gojek Tokopedia Tbk (GTOFF)
Q4 2023 Earnings Conference Call
March 19, 2024 08:00 AM ET
Company Participants
Reggy Susanto - Head of IR
Patrick Walujo - President, Director and CEO
Wei-Jye Jacky Lo - CFO
Thomas Husted - COO
Melissa Siska Juminto - President of E-commerce
Conference Call Participants
Adrian Joezer - Mandiri Sekuritas
Ferry Wong - Citi
Ryan Winipta - Indo Premier
Divya Kothiyal - Morgan Stanley
Henry Wibowo - JPMorgan
Presentation
Reggy Susanto
Hello everyone. This is Reggy Susanto, Head of Investor Relations. Welcome to the PT GoTo Gojek Tokopedia Tbk Fourth Quarter and Financial Year 2023 Earnings Conference Call. Please be advised that today's conference is being recorded.
Joining us today are Patrick Walujo, President, Director and Group CEO; and Jacky Lo, Group CFO. Also present are Tom Husted, our Vice President, Director and President of Financial Technology Services; Hans Patuwo, our Chief Operating Officer; Catherine Hindra Sutjahyo, our President of On-Demand Services; Melissa Siska Juminto, President of E-commerce; and Kevin Widlansky, Head of GoTo Logistics.
Following management's prepared remarks, we will open up the call for questions. We would like to highlight that the information presented today has been prepared solely based on unaudited consolidated selected financial information for the three months ended December 31, 2023. We have also submitted and published our consolidated financial statements as of and for the 12 months ended December 31, 2023.
As a reminder, today's discussion may contain forward-looking statements about the company's future business and financial performance as well as a discussion of certain non-Indonesian financial accounting standard measures as complements to the Indonesian financial accounting standards disclosures. Before using and/or relying on these measurements and forward-looking statements, please take note of our disclaimer and cautionary statements disclosed in our earnings presentation and press release.
During the earnings call, we will be going through our results of operations and earnings presentation, which can be found on our website. For more information and additional disclosures on our recent business and financial performance, please refer to our earnings press release and supplemental presentation, which can be found on our IR website.
With that, I will turn the call over to Patrick.
Patrick Walujo
Thank you, Reggy. Hello everyone, and thank you for joining us today. When we look back on 2023, I believe we will see it as a transformative year in which we hit the reset button on our business and build a new way of working. Set on a foundation of profitability and partnership. This foundation will place the business on a lasting trajectory towards accelerated profitable growth. We started the year with a significant problem. Our cash burn was unsustainable high with adjusted EBITDA losses in 2022, standing at 16 trillion Rupiah or US$1 billion. We had only a year and a half of runway left according to some market estimates. ...
PT GoTo Gojek Tokopedia Tbk (GTOFF) Q4 2023 Earnings Call Transcript