In today’s briefing:
- GoTo Gojek Tokopedia (GOTO IJ) – Entering New Territory
- Medco Energi – Earnings Flash – FY 2024 Results – Lucror Analytics
GoTo Gojek Tokopedia (GOTO IJ) – Entering New Territory
- GoTo Gojek Tokopedia‘s 4Q2024 is likely just the start of the positive impact of its barbell strategy of enticing new users through affordable products before monetising through premium offerings.
- The rapid turnaround of the fintech business as it booked its first quarterly positive adjusted EBITDA was a key standout and was front and centre of management results comments.
- GOTO remains upbeat in its prospects for 2025, providing its first guidance for adjusted EBITDA, and highlighting the positive contribution from fintech and mid-teens growth for ODS.
Medco Energi – Earnings Flash – FY 2024 Results – Lucror Analytics
- Medco Energi’s performance remained robust in FY 2024, with the company reporting stable earnings but improved cash flows.
- FCF was positive and net debt declined, supported by the disposal of Medco’s Vietnamese assets.
- Consolidated Net Debt/EBITDA was healthy at 2.3x.
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