Indonesia's GoTo posts first full-year underlying profit, eyes strong growth for 2025
Employees pack goods at Goto's e-commerce unit Tokopedia's warehouse in Jakarta, Indonesia, August 31, 2022. REUTERS/Ajeng Dinar Ulfiana
Indonesia's biggest tech firm PT GoTo Gojek Tokopedia on Wednesday forecast a sharp increase in its underlying earnings for 2025, while also reporting its first full-year underlying profit for last year.
GoTo, which offers ride-hailing, food deliveries, logistics and financial services, forecast core earnings, or adjusted EBITDA, of between 1.4 trillion rupiah and 1.6 trillion rupiah ($85.16 million and $97.32 million) for the current year.
It swung to an underlying profit of 327 billion rupiah for 2024, from a loss of 3.670 trillion rupiah last year.
The firm's financial technology segment, whose earnings jumped 70 per cent last year, is expected to expand further in 2025 as the user base for its GoPay app and its loan book grows, the company said.
($1 = 16,440.0000 rupiah)
