JAKARTA – PT Goto Gojek Tokopedia Tbk (GOTO) reported a 94.29% decrease in losses for 2024 compared to 2023, thanks to increased revenue and other income.

In its 2024 Financial Report, published on Wednesday (12/3), Patrick Sugito Walujo, President Director of GOTO, announced that revenue reached IDR 15.89 trillion, up 7.50% year-on-year (yoy) from IDR 14.78 trillion.

The rise in GOTO’s revenue was driven by improved performance in the E-commerce Service Fee, Lending, Delivery Services, and Advertising Fee segments. However, the Service Fee segment, the largest contributor to revenue, recorded a decline in earnings.

The Service Fee segment contributed IDR 5.80 trillion to GOTO's 2024 revenue, down 33.05% yoy from IDR 8.66 trillion, followed by Delivery Services at IDR 5.34 trillion, up 150.77% yoy from IDR 2.13 trillion; and Lending at IDR 1.93 trillion, soaring 373.10% yoy from IDR 409.95 billion.

Additionally, the E-commerce Service Fee segment generated IDR 621.87 billion compared to zero previously, while the Advertising Fee contributed IDR 554.99 billion, down 74.76% yoy from IDR 2.19 trillion. Other revenue reached IDR 1.63 trillion, growing 18.13% yoy from IDR 1.38 trillion.

Despite this, GOTO still recorded an operating loss of IDR 2.4 trillion in 2024, although it decreased by 78.20% yoy from IDR 10.27 trillion. Pre-tax losses also reduced to IDR 5.27 trillion from IDR 90.63 trillion, ultimately bringing the net loss down to IDR 5.15 trillion from IDR 90.39 trillion. (LK/ZH)