Grab Holdings Limited (NASDAQ:GRAB) Q2 2023 Earnings Conference Call August 23, 2023 8:00 AM ET

Company Participants

Douglas Eu - Head of Asia, IR

Anthony Tan - CEO

Alexander Hungate - COO

Peter Oey - CFO

Conference Call Participants

Venugopal Garre - Bernstein

Piyush Choudhary - HSBC

Pang Vittayaamnuaykoon - Goldman Sachs

Thomas Chong - Jefferies

Alicia Yap - Citigroup

Mark Mahaney - Evercore

Sachin Salgaonkar - Bank of America

Operator

Ladies and gentlemen, thank you for joining us today. My name is Ellen, and I'll be your conference operator for this session. Welcome to Grab's Second Quarter 2023 Results Call. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]

I will now turn the call over to Douglas Eu to start the call. Douglas, please go ahead, whenever you are ready.

Douglas Eu

Good day, everyone, and welcome to Grab's second quarter 2023 earnings call. I'm Douglas Eu, Head of Asia Investor Relations at Grab, and joining me today are Anthony Tan, Chief Executive Officer; Alex Hungate, Chief Operating Officer; and Peter Oey, Chief Financial Officer. During the call today, Anthony will discuss our key strategic and business achievements, followed by Alex, who will provide operational highlights and Peter will share details of our second quarter 2023 financial results. Following prepared remarks, we will open the call to questions.

As a reminder, today's discussion contains forward-looking statements about the company's future business and financial performance. These statements are based on our beliefs and expectations as of today. Actual events and results could differ materially due to a number of risks and uncertainties, including macroeconomic, industry, business, regulatory and other risks, which are described in our Form 20-F for the year ended December 31, 2022 and other filings with the SEC. We do not undertake any obligation to update any forward-looking statements.

The discussion today also contains non-IFRS financial measures which should be considered together with rather than as substitutes for IFRS financial measures. A reconciliation of non-IFRS to IFRS financial measures is included in this quarter's earnings materials. For more information and additional disclosures on recent business performance, please refer to our earnings press release and supplemental presentation for a detailed second quarter 2023 financial review, which can be found on our Investor Relations website.

And with that, I will turn the call over to Anthony to deliver his opening remarks.

Anthony Tan

Thanks, Doug. Thank you for joining us today. Our second quarter results reflect our ability to execute strongly as we balance growth, category leadership and profitability. Our focus on expanding our marketplace through affordability initiatives as well as strengthening engagement through our flagship subscription program called GrabUnlimited continues to yield results. More people are using Grab now than ever before with group MTUs at an all-time high, growing by 7% year-on-year and 5% quarter-on-quarter.