Grab Holdings Limited (NASDAQ:GRAB) Q2 2024 Earnings Conference Call August 15, 2024 8:00 PM ET

Company Participants

Douglas Eu - Director, IR & Strategic Finance
Anthony Tan - CEO
Alex Hungate - COO
Peter Oey - CFO

Conference Call Participants

Pang Vitt - Goldman Sachs
Alicia Yap - Citigroup
Sachin Salgaonkar - Bank of America
Piyush Choudhary - HSBC Singapore
Ranjan Sharma - JPMorgan
Mark Mahaney - Evercore
Jiong Shao - Barclays

Operator

Ladies and gentlemen, thank you for joining us today. My name is Aida, and I will be your conference operator for this session. Welcome to Grab's Second Quarter 2024 Earnings Results Call. After speakers' remarks, there will be a question-and-answer session.

I will now turn it over to Douglas Eu to start the call.

Douglas Eu

Good day, everyone, and welcome to Grab's second quarter 2024 earnings call. I'm Douglas Eu, Director, Investor Relations and Strategic Finance 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 2024 financial results. Following the prepared remarks, we will open the call to questions.

During this call, we will be making forward-looking statements about future events, including our future business and financial performance. These statements are based on our current beliefs and expectations. Actual results could differ materially due to a number of risks and uncertainties as described on this earnings call, in the earnings release and in our Form 20-F and other filings with the SEC. We do not undertake any duty to update any forward-looking statements.

We will also be discussing non-IFRS financial measures on this call. These measures supplement but do not replace IFRS financial measures. Please refer to the earnings materials for a reconciliation of non-IFRS to IFRS financial measures. For more information, please refer to our earnings press release and supplemental presentation available on our IR website.

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

Anthony Tan

Thanks, Doug. Thank you for joining us today. During the quarter, we focused on leveraging our platform scale to drive profitable growth. On-Demand GMV, group monthly transacting users and group revenues hit new all-time highs. While our On-Demand transactions actually grew strongly at 22% year-on-year. We also delivered our 10th consecutive quarter of group adjusted EBITDA improvement even as we invested into new products and faced foreign currency headwinds. This underscores our relentless focus on generating sustainable and profitable growth at scale in the long term.