“Looking ahead, we’re firing on all cylinders to improve our profitability trajectory,” Tan said at the company’s event in the city-state on Tuesday. “Grab is trying to achieve this by growing our top line in a sustainable manner.”
Grab Holdings Ltd. expects slower growth of 45% to 55% in 2023 as the Southeast Asian internet giant adjusts to a market downturn and speeds up efforts to reverse years of losses.
Chief Executive Officer Anthony Tan kicked off the company’s first investor day by trying to reassure shareholders Grab was on the rebound. The company backed by SoftBank Group Corp., which posted revenue growth of 79% last quarter, should break even in the second half of 2024 on an adjusted earnings basis before interest, taxes, depreciation and amortization. That excludes once-offs such as writedowns and exceptional items.
