Employee Salaries Were GoTo's Biggest Expense in 2021

Technology & Telecommunications

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Reza Pahlevi 02/06/2022 10:50 WIB

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GoTo recorded total expenses of Rp26.9 trillion in 2021, significantly exceeding its revenue of only Rp4.54 trillion. What were these expenses for?

GoTo Gojek Tokopedia (2021) Expense Breakdown

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GoTo Gojek Tokopedia (2021) Expense Breakdown

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GoTo Gojek Tokopedia Tbk spent Rp26.92 trillion on various expenses throughout 2021.

These expenses were significantly larger than its net income, which amounted to only Rp4.54 trillion.

According to its financial report, GoTo's largest expense in 2021 was for employee salaries and benefits, totaling Rp8.73 trillion.

"Money burning" was the next largest expenditure. GoTo spent Rp4.87 trillion on promotions and Rp3.54 trillion on advertising and marketing.

Depreciation and amortization expenses were recorded at Rp2.42 trillion, while the development of information technology and infrastructure cost Rp2.39 trillion.

These substantial expenses resulted in GoTo's significant net loss. In 2021, GoTo recorded a net loss of up to Rp21 trillion.

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."