DiDi Global (DIDI) Q4 2024 earnings summary

Executive summary

• Achieved record Core Platform Transactions of 4,266 million in Q4 2024, up 14.8% year-over-year, and 16,005 million for the full year, up 18.8% year-over-year.

• China Mobility and International segments both saw double-digit growth in transactions and platform sales, with International segment transactions up 29.8% in Q4 and 35.8% for the year.

• Returned to profitability for the full year 2024 with RMB1.3 billion profit, reversing a RMB4.8 billion loss in 2023.

Financial highlights

• Q4 2024 revenues rose 7.1% year-over-year to RMB52.9 billion; full year revenues up 7.5% to RMB206.8 billion.

• Q4 platform sales increased 23.1% year-over-year to RMB19.1 billion; full year platform sales up 25.0% to RMB69.5 billion.

• Adjusted EBITDA (Non-IFRS) was RMB1.1 billion in Q4 (vs. loss of RMB0.4 billion in Q4 2023); full year Adjusted EBITDA was RMB7.4 billion (vs. RMB1.7 billion in 2023).

• Adjusted profit (Non-IFRS) for Q4 was RMB0.6 billion (vs. RMB39 million in Q4 2023); full year Adjusted profit was RMB5.6 billion (vs. RMB0.6 billion in 2023).

• Q4 net loss was RMB1.3 billion; full year net profit was RMB1.3 billion.

Outlook and guidance

• Plans to deepen focus on core businesses, responsible innovation, and development of autonomous driving and AI applications in 2025.

• Intends to further increase consumer and driver engagement and expand diversified product offerings in China Mobility.

• International segment to balance sustainable growth with investments and efficiency improvements.