GoTo's Transaction Value Reaches Rp613 Trillion in 2022, Fintech Segment Remains Dominant

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Cindy Mutia Annur 21/03/2023 15:30 WIB

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GoTo Gojek Tokopedia Tbk (GOTO) reported a total gross transaction value (GTV) of Rp613.4 trillion in 2022. The fintech segment remained the dominant contributor to the company's GTV.

GoTo Transaction Value by Business Segment (2022)

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GoTo Transaction Value by Business Segment (2022)

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GoTo Gojek Tokopedia Tbk (GOTO) recorded a total gross transaction value (GTV) of Rp613.4 trillion in 2022. This represents a 33% year-on-year (YoY) increase.

GoTo Group's Chief Financial Officer, Jacky Lo, stated that GOTO continues to show growth amidst macroeconomic uncertainty. He attributed this to comprehensive cost management through structural efficiencies across all parts of the organization.

"The company believes that we will achieve positive operational cash flow, along with accelerating progress towards profitability targets this year," said Jacky in a press release on Monday, March 20, 2023.

The fintech sector remained the largest contributor to GTV, reaching Rp360.4 trillion in 2022. This represents a 67.7% YoY increase from Rp214.9 trillion in 2021.

According to Jacky, fintech sector GTV continued to grow despite a 40% reduction in consumer incentives for payment services compared to the previous year. This growth occurred alongside an increase in PayLater loan products.

"The quality of GoPay customers continues to improve, with average customer spending growing by 32% at the end of Q4 2022 compared to Q4 2021," said Jacky.

Furthermore, e-commerce GTV increased by 18.43% YoY to Rp273.1 trillion, and on-demand services GTV grew by 22.46% YoY to Rp61.6 trillion.

Other segments had a GTV of Rp900 billion, while there was a reduction in GTV from intercompany eliminations amounting to Rp82.6 trillion.

Despite the increase in GTV, GoTo's net loss widened. The tech company's net loss reached Rp40.5 trillion in 2022, a 56% YoY increase from Rp25.9 trillion in the previous year.

On the other hand, GOTO's net revenue reached Rp11.3 trillion in 2022, a 120% YoY increase from Rp5.2 trillion in the previous year.

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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GoTo's Transaction Value Reaches Rp613 Trillion in 2022, Fintech Segment Remains Dominant

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