Grab2Go (GRB2G) H2 2024 earnings summary

Executive summary

• Grab2Go AS develops unmanned, robotic store technology for retail, focusing on automation and AI-driven solutions to improve efficiency and customer experience.

• Key sectors targeted include pharmacies, gas stations, and convenience stores, with pilot projects in Estonia and plans for Canadian market entry.

• The Ülemiste City pilot demonstrated the reliability and adaptability of the autonomous retail solution, generating positive customer feedback and industry interest.

Financial highlights

• H2 2024 revenue was €4,502, all from rental income; full-year 2024 revenue totaled €5,664, down from €21,264 in 2023.

• Net loss for H2 2024 was €89,000, improved from a €215,000 loss in H1 2023; full-year net loss was €188,162, down from €416,723 in 2023.

• Total assets at 31.12.2024 were €723,345 (31.12.2023: €855,933); equity was €650,646 (90% of assets).

• Cash flow for H2 2024 was -€12,000; full-year cash flow was -€88,000, similar to -€84,000 in 2023.

Outlook and guidance

• Plans for H1 2025 include completing the outdoor pilot with Selver, hardware and software enhancements, and expanding partnerships in Estonia, Europe, and Canada.

• Management remains confident in achieving growth objectives, citing favorable sector trends and ongoing investor interest despite a challenging macroeconomic environment.