ISTANBUL, Sept. 25, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a "Hepsiburada") (NASDAQ: HEPS), a leading Turkish e-commerce platform (referred to herein as "Hepsiburada" or the "Company"), announces the 18-month results of the "Trade and Technology Empowerment for the Earthquake Region" program (the "Program") for the period from March 6, 2023 to September 6, 2024. Since the Program's launch in March 2023: • The total number of active merchants operating in the earthquake region h ...

ISTANBUL, Sept. 20, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a "Hepsiburada") (NASDAQ: HEPS), a leading Turkish e-commerce platform (referred to herein as "Hepsiburada" or the "Company"), has published its 2023 Sustainability Report. Hepsiburada is the first ecommerce platform in Türkiye to sign the United Nations ("UN") Global Compact. Cem Tanır, Hepsiburada's Head of Corporate Affairs, Communications and Sustainability, underscored the Company's commitment to green transformati ...

hepsiburada Q2 / H1 2024 Results Presentation September 11, 2024 Disclaimer SUBTITLE BELOW THIS LINE NOTES START FROM HERE AND GROW UP Restatement of Financial Information Pursuant to the International Accounting Standard 29, Financial Reporting in Hyperinflationary Economies ("IAS 29"), the financial statements of entities whose functional currency is that of a hyperinflationary economy must be adjusted for the effects of changes in a general price index. Turkish companies reporting under International Fin ...

D-Market Elektronik Hizmetler ve Ticaret A.S. (NASDAQ:HEPS) Q2 2024 Earnings Conference Call September 11, 2024 9:00 AM ET Company Participants Helin Celikbilek - IR, Director Nilhan Gokcetekin - CEO Seckin Koseoglu - CFO Conference Call Participants Operator Ladies and gentlemen, thank you for standing by. I'm Mina, your chorus call operator. Welcome and thank you for joining the Hepsiburada Conference Call and Live Webcast to present and discuss the Second Quarter 2024 Financial Results. All participants ...

ISTANBUL, Sept. 11, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a "Hepsiburada") (NASDAQ: HEPS), a leading Turkish e-commerce platform (referred to herein as "Hepsiburada" or the "Company"), today announces its unaudited financial results for the second quarter and the six months ended June 30, 2024. Restatement of financial information: Pursuant to the International Accounting Standard 29, Financial Reporting in Hyperinflationary Economies ("IAS 29"), the financial statements of en ...

ISTANBUL, Aug. 27, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a "Hepsiburada") (NASDAQ: HEPS), a leading Turkish e-commerce platform, will report its unaudited financial results for the second quarter ending June 30, 2024 before the U.S. market opens on Wednesday, September 11, 2024. Conference Call and Webcast Details Hepsiburada's management will host an analyst and investor conference call and live webcast to discuss its financial results at 16.00 İstanbul / 14.00 London / 9.00 ...

ISTANBUL, July 23, 2024 /PRNewswire/ -- D-MARKET Electronic Services & Trading (d/b/a "Hepsiburada") (NASDAQ: HEPS), a leading Turkish e-commerce platform, has announced the partnership with Warner Bros. Discovery, extending the offering of a BluTV subscription, a Türkiye-based subscription video-on-demand service, as a privilege for Hepsiburada Premium members. BluTV, which was fully acquired by Warner Bros. Discovery in December 2023, features an ever-expanding collection of compelling Turkish content and ...

D-Market Electronic Services & Trading (NASDAQ:HEPS) reported its first quarter results, highlighted by strong growth and expanding margins, We covered some of these themes issuing a rare "strong buy" rating for the stock last year noting the company's path to sustainable profitability deserved a closer look. I HEPS Q1 Earnings Recap Three months ended March 31, unaudited Notably, the company presents the figures as inflation-adjusted, eapturing the "real growth". This is important as Turkey continues to de ...

Financial Data and Key Metrics - Gross Merchandise Value (GMV) grew by 43% in Q1 2024, adjusted for inflation, driven by a 17% increase in average order value and a 22% rise in total orders [16][36] - EBITDA improved by 120 basis points year-on-year to 2.4% of GMV on an unadjusted basis, and by 70 basis points to 0.8% when adjusted for inflation [32] - Gross contribution margin improved by 1.2 percentage points to 10.5%, supported by higher delivery service and advertising revenues [8][38] - Free cash flow was TRY1 billion in Q1 2024, up from TRY102 million a year ago, driven by improved EBITDA and working capital management [18][30] Business Line Performance - Marketplace operations accounted for 68% of total business in Q1 2024, with a 38% growth in retail and 32% growth in marketplace operations revenue [8][17] - Delivery service revenues nearly doubled year-on-year, contributing 14% of total revenues, driven by off-platform business momentum and higher delivery charges [8] - Advertising services revenues doubled, while other revenue lines grew by 148%, supported by a fourfold increase in loyalty subscription revenues [8] - Hepsipay, the company's BNPL and consumer finance solution, facilitated over 1.1 million orders in the last 12 months, with total lending volume tripling to TRY8.1 billion ($290 million) [5] Market Performance - Active customer base grew to 12.1 million, with 171,000 new customers added in Q1 2024 [13] - Order frequency over the last 12 months increased by 30%, reaching 9.8 orders per customer [4][36] - HepsiJet, the company's delivery service, delivered 3.2 million parcels in Q1, with off-platform volume accounting for 33% of total deliveries [14] Strategic Direction and Industry Competition - The company is focused on expanding its loyalty program, Hepsiburada Premium, which has 2.6 million members, and leveraging its superior delivery services through HepsiJet [13][33] - Hepsipay aims to capture a significant share of Turkey's $34 billion consumer loan market by growing its BNPL and shopping loan offerings [5] - The company is building cross-border capabilities, including a partnership with Jumia, to expand its reach beyond Turkey [28][65] - Regulatory changes in 2025, such as license fees and restrictions on private labels, are expected to constrain larger competitors like Amazon and Alibaba in Turkey [29][52] Management Commentary on Operating Environment and Outlook - Management expects Q2 2024 GMV growth of around 75% year-on-year, with EBITDA margins improving to 1.8%-2% of GMV [15] - The company anticipates continued challenges in the macroeconomic environment, including cooling consumer demand, but remains confident in its ability to grow sustainably [15][52] - Management highlighted the importance of affordability and payment solutions in Turkey, where Hepsipay holds a competitive advantage [51] Other Key Information - The company does not expect to pay corporate taxes in 2024 due to R&D tax incentives, with tax payments likely starting in 2026 [46] - A potential dual listing in Turkey's Borsa Istanbul is under evaluation, but no concrete decision has been made [50] Q&A Session Summary Question: Impact of the eighth holiday on Q2 GMV growth - The impact of the eighth holiday is already incorporated in Q2 guidance, with offline sales typically increasing during holidays, potentially reducing online sales growth by 1-2% [39][40][41] Question: Market share and competition with Amazon in Turkey - The company does not report exact online market share but claims to be gaining significant share in key categories like electronics, home, and mom & baby products [21][22][63] Question: Categories experiencing slowdowns in Q1 2024 - Slower demand was observed in discretionary categories like computers and TVs, with consumers trading down and deferring purchases rather than reducing online shopping frequency [23][60] Question: Plans to expand services in developed markets like North America - The company has no immediate plans to expand into North America but is exploring cross-border opportunities through partnerships and integrations with other marketplaces [25][61] Question: Expected incremental GMV from the Jumia partnership - Significant GMV impact from the Jumia partnership is expected in 2025 as the integration progresses, with minimal impact anticipated in 2024 [49][65] Question: Free cash flow generation outlook for 2024 - The company expects to improve free cash flow generation in 2024 through higher EBITDA and continued negative working capital management [30][59]

Our short-term bank borrowings are utilized to facilitate supplier and merchant financing as well as for our short-term liquidity needs in the ordinary course of our operations. Our short-term borrowings increased to TRY 313.5 million as of March 31, 2024, from TRY 211.1 million as of December 31, 2023. As of March 31, 2024, supplier and merchant financing loans corresponded to TRY 53.4 million of the short-term bank borrowings compared to TRY 20.4 million as of December 31, 2023. Our long-term borrowings d ...