GOTO to Scrap Non-Core Businesses in Search for Profit

By Editorial Team 21/08/2023
Aplikasi Gojek
Summary

PT GoTo Gojek Tokopedia Tbk (GOTO) will let go of some non-core businesses as it aims to become profitable by the end of 2023.

According to GOTO CEO Patrick Walujo, the company’s Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) margin is expected to reach an encouraging level by the end of 2023.

"GOTO will continue to operate by managing operating expenses," he said on Aug 16.

Patrick explained that implementing such a strategy was necessary due to service alterations to serve a wider market.

In search of profit, GOTO is trying to cut costs, divest non-core assets, focus on profitable assets, and slash subsidized delivery costs within its ecosystem by up to 15 percent.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.