Grab expects to break even on adjusted EBIDTA by second half of 2024

A Grab logo is pictured at the Money 20 20 Asia Fintech Trade Show in Singapore.

SINGAPORE Reuters -- Grab Holdings Ltd, Southeast Asia's biggest ride-hailing and food delivery firm, expects to break even on its adjusted EBIDTA by the second half of 2024, as it accelerates toward profitability, company officials said on Tuesday.

Its group adjusted EBIDTA loss is expected to be $380 million for the second half of 2022, a 27% improvement compared to the first half of the year.

Our cash position is not something we take for granted. Chief Financial Officer Peter Oey said that the company will maintain a prudent stance when it comes to how we allocate and deploy our capital with cash preservation on top of mind.