ISTANBUL, Aug. 20, 2025 (GLOBE NEWSWIRE) -- On August 15, 2025, D-MARKET Elektronik Hizmetler ve Ticaret Anonim Şirketi (the “Company”) furnished to the Securities and Exchange Commission a Form 6-K (the “Original Form 6-K”) containing certain exhibits relating to the Company’s Annual General Assembly Meeting of Shareholders for, and with respect to, the financial year 2024, to be held on September 15, 2025. This Amendment No. 1 to the Original Form 6-K amends the Original Form 6-K solely for the purpose of ...

ISTANBUL, Aug. 18, 2025 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a "Hepsiburada") (NASDAQ: HEPS) (the "Company"), a leading Turkish e-commerce platform, will hold its Ordinary General Assembly Meeting of Shareholders (the "General Assembly") with respect to the financial year 2024, on Monday, September 15, 2025 at 11:00 Istanbul time at the Company's headquarters at Kuştepe Mahallesi, Mecidiyeköy Yolu Caddesi, No:12 Trump Towers Kule:2 Şişli, İstanbul. Holders of the Company's America ...

Core Insights - Hepsiburada reported a gross merchandise value (GMV) increase of 11.9% to TRY 51.1 billion in Q2 2025 compared to TRY 45.6 billion in Q2 2024, while the IAS 29-unadjusted GMV increased by 52.2% to TRY 50.3 billion [4][13] - Revenue for Q2 2025 rose by 22.6% to TRY 16,743.8 million from TRY 13,657.3 million in Q2 2024, driven by a 25.2% increase in 1P revenue and a 24.9% increase in delivery service revenue [24][21] - The company experienced a net loss of TRY 723.8 million in Q2 2025, a 39.4% increase from a net loss of TRY 519.3 million in Q2 2024, primarily due to increased provision expenses and financial costs [31][10] Financial Highlights - The EBITDA for Q2 2025 increased by 41.6% to TRY 739.5 million compared to TRY 522.1 million in Q2 2024, with EBITDA as a percentage of GMV improving to 1.4% from 1.1% [4][32] - Free cash flow turned positive with an inflow of TRY 3,405.2 million in Q2 2025, compared to an outflow of TRY 870.4 million in Q2 2024 [33] - The active customer base decreased by 0.8% to 12.0 million as of June 30, 2025, compared to 12.1 million a year earlier [4][9] Operational Metrics - The number of orders (excluding digital products and HepsiExpress) increased by 8.1% to 18.9 million in Q2 2025, while the average order value grew by 5.3% [4][13] - The share of marketplace GMV was 68.2% in Q2 2025, down from 71.1% in Q2 2024 [4][13] - Active merchants decreased by 0.7% to 100.3 thousand compared to 100.9 thousand as of June 30, 2024 [4][9] Inflation and Accounting Standards - The financial statements are restated under IAS 29 due to hyperinflation in Turkey, with the conversion factor for June 30, 2025, set at 3,132.2 [3][2] - The annual inflation rate as of June 30, 2025, was reported at 35.1%, a decline from 71.6% a year earlier [28] Strategic Initiatives - The company is focusing on improving margins and driving sustainable growth while enhancing its operational fundamentals [11] - Hepsiburada's "Technology Empowerment for Women Entrepreneurs" program has supported approximately 65,000 women entrepreneurs as of June 30, 2025 [18]

Company Overview - Hepsiburada is a leading e-commerce technology platform in Türkiye, operating through a hybrid model that combines first-party direct sales (1P) and a third-party marketplace (3P) with approximately 100 thousand merchants [2] - The company aims to lead the digitalization of commerce, providing a broad ecosystem of capabilities for merchants and consumers, including last-mile delivery, fulfilment services, advertising solutions, cross-border sales, payment services, and affordability solutions [3] Financial Reporting - Hepsiburada will report its unaudited financial results for the second quarter ending June 30, 2025, before the U.S. market opens on Thursday, July 31, 2025 [1] Social Impact - Since its founding in 2000, Hepsiburada has focused on empowering women in the Turkish economy, launching the 'Technology Empowerment for Women Entrepreneurs' program in 2017, which has supported approximately 65 thousand female entrepreneurs across Türkiye [4] Integrated Fintech Solutions - Hepsiburada's integrated fintech platform, Hepsipay, offers secure payment solutions, including digital wallets, general-purpose loans, buy now pay later (BNPL), and one-click checkout, enhancing shopping convenience for consumers and driving higher sales conversions for merchants [3]

Financial Performance - Hepsiburada's GMV reached TRY 1886 billion in FY 2024, representing a 121% year-over-year growth[17] - Gross Contribution Margin improved to 113% of GMV in FY 2024, a 21 percentage point increase year-over-year[17] - EBITDA reached 11% of GMV in FY 2024, a 07 percentage point increase year-over-year[17] - Revenue increased by 111% to TRY 570466 million in 2024 compared to TRY 513390 million in 2023[18,49] - The company reported a net loss of TRY 16049 million for 2024, compared to a net income of TRY 1091 million in 2023[18,53] Customer and Merchant Metrics - Hepsiburada had 122 million active customers in 2024, an increase of 235K year-over-year[21] - The platform had 100K active merchants[21] - The number of orders increased by 16% year-over-year to 1314 million[21] - Order frequency increased by 14% year-over-year to 108[21] Strategic Initiatives - Hepsiburada Premium membership reached 37 million members[26] - HepsiJet's platform penetration increased by 52 percentage points year-over-year, with 72% of total parcels delivered by HepsiJet[26] - 33 million orders were placed through affordability solutions[29] - HepsiJet's off-platform volume share reached 346%, up by 97 percentage points year-over-year[32] Cash Flow - Free Cash Flow was TRY 3702 million for FY 2024[60]

Core Insights - Hepsiburada reported a challenging first quarter in 2025, with significant declines in key financial metrics due to politically driven consumption boycotts and a decelerating market [6][19][24] Financial Performance - Gross merchandise value (GMV) decreased by 14.8% to TRY 42.7 billion compared to TRY 50.1 billion in Q1 2024 [4][10] - Revenue decreased by 7.9% to TRY 14,386.9 million compared to TRY 15,619.0 million in Q1 2024 [4][23] - EBITDA decreased by 72.8% to TRY 108.8 million, corresponding to 0.3% of GMV, down from 0.8% in Q1 2024 [4][34] - Net loss for the period was TRY 355.1 million, compared to a net loss of TRY 180.5 million in Q1 2024 [11][32] Operational Metrics - The number of orders decreased by 18.9% to 23.8 million compared to 29.3 million in Q1 2024 [4][10] - Active customers decreased by 0.9% to 12.0 million compared to 12.1 million as of March 31, 2024 [4][10] - Average order value (excluding digital products) grew by 4.2% in Q1 2025 compared to Q1 2024 [4][19] Market Dynamics - The share of Marketplace GMV increased to 68.8% from 68.4% in Q1 2024 [4][10] - The annual inflation rate published by TurkStat was 38.1% as of March 31, 2025, down from 68.5% a year earlier [19] Strategic Initiatives - Hepsiburada improved its gross contribution margin by 200 basis points year over year, driven by initiatives like Hepsiads and Hepsiburada Premium [7][28] - The logistics capabilities of HepsiJet expanded, increasing its share of external customer deliveries from 33% to 40% of total parcels delivered [8] ESG Actions - The "Technology Empowerment for Women Entrepreneurs" program reached an additional 2,678 women, supporting approximately 63,000 women entrepreneurs to date [15] - Hepsiburada sponsored books and board games for children affected by the February 2023 earthquakes, reaching over 250,000 children [16]

Core Viewpoint - Hepsiburada, a leading Turkish e-commerce platform, has successfully completed its fourth bond issuance through its subsidiary Hepsi Finansman A.Ş., raising a nominal value of TRY 66,950,000 to support the growth of its consumer finance business [1][2]. Group 1: Bond Issuance Details - Hepsifinans closed its fourth bond issuance on April 30, 2025, with an aggregate principal amount of TRY 66,950,000 and a six-month maturity [2]. - The bonds will accrue interest at a rate of 52.00% per annum, with both principal and coupon to be repaid at maturity [2]. - This issuance is part of a larger approval from the Capital Markets Board for Hepsifinans to issue bonds or bills totaling up to TRY 1,050,000,000 within one year [2]. Group 2: Company Overview - Hepsiburada operates as a hybrid e-commerce platform combining first-party direct sales and a third-party marketplace, featuring approximately 100,000 merchants [4]. - The platform offers a wide range of services including last-mile delivery, fulfillment services, advertising solutions, cross-border sales, payment services, and affordability solutions [5]. - Hepsiburada's fintech platform, Hepsipay, enhances shopping convenience with secure payment solutions, including digital wallets and buy now pay later options [5]. Group 3: Social Impact - Since its founding in 2000, Hepsiburada has focused on empowering women in the Turkish economy, launching initiatives like the 'Technology Empowerment for Women Entrepreneurs' program, which has supported around 61,000 female entrepreneurs [6].

Group 1 - The conference call is focused on discussing Hepsiburada's fourth quarter and full year 2024 financial results [1][3] - Participants in the call include CEO Nilhan Onal Gokcetekin and CFO Seçkin Köseoğlu [2][3] - The call is recorded and participants are in a listen-only mode [1] Group 2 - The management's views presented during the call are as of the current date and are subject to change [4] - Forward-looking statements are made, with a caution that actual results may differ materially [4] - References to non-IFRS measures will be made, with guidance to the appendix for comparable IFRS measures [5]

Financial Data and Key Metrics Changes - The company achieved a real GMV growth of 12.1% in 2024, with an unadjusted inflation basis GMV growth of 74% year on year [6][7] - Gross contribution margin improved to 11.3%, reflecting a 2.1 percentage point increase compared to the previous year [7][18] - EBITDA as a percentage of GMV reached 1.1%, marking a 0.7 percentage point rise year on year [7][18] Business Line Data and Key Metrics Changes - Active customers increased by 235,000, totaling 12,200,000, with orders growing by 16 percentage points year on year to 131,400,000 [8] - The company reported a 2.9 percentage point shift towards marketplace operations, with 3P operations accounting for approximately 70% of the business [19] - Lending solutions saw a total volume of TRY 16,200,000,000, which is 2.6 times the total volume in 2023 [12] Market Data and Key Metrics Changes - Revenue grew by 6.4% in Q4, leading to an 11.1% growth for the full year compared to the previous year [20] - Delivery service revenue increased by 50% in 2024, while other revenue, including advertising services, rose by 112% [20][21] - The gross contribution margin improved due to increased delivery service revenue and higher other revenue, including ads and premium subscription revenue [21] Company Strategy and Development Direction - The company focuses on three strategic priorities: customer loyalty, enhancing delivery services, and expanding B2B services [9][10] - The loyalty program, Hexo Product Premium, reached a member base of 3,700,000, with expanded offerings through partnerships [11] - The company aims to capitalize on differentiation through lending solutions and enhance capabilities for merchants [12][14] Management's Comments on Operating Environment and Future Outlook - The start of 2025 faced challenges due to macroeconomic headwinds and consumer purchasing power pressures [15] - A significant milestone was achieved with the closing of a transaction to purchase a 65.4% controlling stake in the company, which is expected to create value [15][16] - Management expressed excitement about future opportunities under new ownership, despite current challenges [24][25] Other Important Information - Free cash flow decreased by TRY 1,900,000,000 compared to the previous year, primarily due to a decrease in net cash from operating activities [23] - The company recorded a provision for license fees amounting to TRY 180,000,000 and higher bad debt provisions in 2024 [22] Q&A Session Summary - There was no Q&A session during the call, but the company encouraged participants to direct their questions to Investor Relations [25]

Financial Data and Key Metrics Changes - The company achieved a real GMV growth of 12.1% in 2024, with an unadjusted inflation basis GMV growth of 74% year on year [5][6] - Gross contribution margin improved to 11.3%, reflecting a 2.1 percentage point increase compared to the previous year [6][17] - EBITDA as a percentage of GMV reached 1.1%, marking a 0.7 percentage point rise year on year [6][21] Business Line Data and Key Metrics Changes - Active customers increased by 235,000, totaling 12,200,000, with orders growing by 16 percentage points year on year to 131,400,000 [7][17] - The lending volume reached 16.2 billion, which is 2.6 times the total volume in 2023 [11] - The off-platform volume for HeftyJet increased by 89% year on year, with its off-platform share rising by 9.7 percentage points to nearly 34.6% of total volume [12] Market Data and Key Metrics Changes - Revenue grew by 6.4% in Q4, leading to an 11.1% growth for the full year compared to the previous year [19] - The revenue growth in Q4 was driven by a 15% rise in 3P revenue and an 18% increase in delivery service revenue [19] - The marketplace operations contributed to a 12% revenue growth in 2024 [20] Company Strategy and Development Direction - The company focuses on three strategic priorities: customer loyalty, enhancing delivery services, and expanding B2B services [8][10] - The loyalty program, Hexo Product Premium, reached a member base of 3.7 million, with expanded offerings through partnerships [10] - The company aims to capitalize on differentiation through lending solutions and improve merchant capabilities [11][12] Management Comments on Operating Environment and Future Outlook - The start of 2025 faced challenges due to macroeconomic headwinds and boycotts affecting consumer purchasing power [14][23] - The company expressed excitement about the potential value creation opportunities following the acquisition of a controlling stake by CASB [15][24] Other Important Information - Free cash flow decreased by 1.9 billion compared to the previous year, primarily due to a decrease in net cash from operating activities [22] - The company recorded a significant increase in advertising services revenues and premium subscription revenues [19][20] Q&A Session Summary - There was no Q&A session during this earnings call, and participants were encouraged to direct their questions to the Investor Relations team [24]