GoTo's Losses Swell to Rp21.49 Trillion in 2021

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Vika Azkiya Dihni 31/05/2022 14:40 WIB

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GoTo Gojek Tokopedia Tbk (GOTO) reported a net loss of Rp21.49 trillion in 2021, a 50% increase from the previous year's loss.

GoTo's Revenue and Net Profit/Loss (2020-2021)

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GoTo's Revenue and Net Profit/Loss (2020-2021)

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PT GoTo Gojek Tokopedia Tbk (GOTO) reported a net loss attributable to the parent entity of Rp21.49 trillion in 2021.

According to the company's financial report, this figure swelled by 50% (yoy) from the previous year's loss of Rp14.09 trillion.

This increase in losses occurred despite increased company revenue, alongside a rise in GOTO's expenses.

Throughout 2021, the company, resulting from the merger of Gojek and Tokopedia, recorded net revenue of Rp4.53 trillion, a 36.3% increase (yoy) from 2020.

Meanwhile, cost of revenue increased by 55% (yoy) to Rp3.77 trillion in 2021 compared to the previous year.

Sales and marketing expenses also increased sharply by 250.64% (yoy) from Rp2.54 trillion to Rp8.93 trillion.

GOTO's general and administrative expenses rose by 98% (yoy) to Rp7.78 trillion. Product development expenses increased by 22.6% (yoy) to Rp2.49 trillion.

Throughout 2021, GoTo's assets increased by 416% (yoy) to Rp155.13 trillion. The company's equity also increased by 87.6% (yoy) to Rp39.02 trillion.

GoTo's 2020 financial performance only included the performance of PT Aplikasi Karya Anak Bangsa, or Gojek. In 2021, the company merged with PT Tokopedia to form GOTO.

(Read Also: [A Week of Deepest Decline in GoTo Gojek Tokopedia's Market Value])

Editor : Adi Ahdiat

"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."