[Report of Foreign Private Issuer (Form 6-K)](index=1&type=section&id=FORM%206-K) [Report Identification and Registrant Details](index=1&type=section&id=Report%20Identification%20and%20Registrant%20Details) This section identifies the Form 6-K filing for D-MARKET Elektronik Hizmetler ve Ticaret Anonim Şirketi, a foreign private issuer, detailing its registration and annual report filing type - Report Type: **Form 6-K**, Report of Foreign Private Issuer[1](index=1&type=chunk) - Registrant: D-MARKET Elektronik Hizmetler ve Ticaret Anonim Şirketi (D-MARKET Electronic Services & Trading)[1](index=1&type=chunk) - Commission File Number: **001-40553**[1](index=1&type=chunk) - Annual Report Filing Type: **Form 20-F**[2](index=2&type=chunk) [Signatures](index=2&type=section&id=SIGNATURES) This section confirms the official signing of the report on April 30, 2024, by the CEO and CFO of D-MARKET Electronic Services & Trading - Signing Date: **April 30, 2024**[6](index=6&type=chunk) - Signatories: Nilhan Gökçetekin (Chief Executive Officer) and M. Seçkin Köseoğlu (Chief Financial Officer)[6](index=6&type=chunk) [Exhibits](index=3&type=section&id=EXHIBITS) This section details Exhibit 99.1, a press release from April 30, 2024, announcing the filing of the 2023 Annual Report on Form 20-F - Exhibit 99.1: Press release dated **April 30, 2024**, announcing the filing of the **2023 Annual Report on Form 20-F**[8](index=8&type=chunk)

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 1 ...

Alistair Berg Investment Thesis Shares of Hepsiburada (NASDAQ:HEPS) have had a volatile ride, opening at $13 since inception and is now trading at around $1.50, a significant decline. Despite the market's pessimism around Turkey's economy and inflationary pressures, I believe the stock is a bargain because of the company's demonstrated resilience against the challenging macroeconomic backdrop of Turkey. Operating losses have narrowed from a trough of $294 million in December 2021 to $24.5 million in Dec ...

Financial Data and Key Metrics Changes - In Q3, the company achieved a GMV growth of 126% year-on-year, with an adjusted growth of 45% when accounting for inflation [22][70] - The EBITDA as a percentage of GMV rose by 690 basis points year-on-year to 2.7%, while adjusted for one-time income, it was at 2.2% [23][71] - The gross contribution margin improved to 11.6%, reflecting a 1.8 percentage point increase compared to the same quarter last year [43][72] Business Line Data and Key Metrics Changes - The retail revenue increased by 50% and marketplace revenue grew by 61%, contributing to a total revenue growth of around 52% [72] - The share of total non-card affordability solutions in GMV rose to 5.6%, up from 5% in the previous quarter [35] - Hepsipay issued 708,000 prepaid cards in six months, indicating strong demand for this product [10] Market Data and Key Metrics Changes - The company reported a significant increase in order frequency, with a 59% growth in order frequency and a 55% increase in order volume [32][59] - The HepsiJet service achieved an 82% next-day delivery ratio among 1P orders, confirming its importance in the delivery ecosystem [65] Company Strategy and Development Direction - The company focuses on a four-pillar strategy: loyalty, sustainable differentiation, cost streamlining, and expanding B2B revenue in fintech and logistics [33] - The Hepsiburada Premium program has over 2 million members, significantly influencing customer behavior and retention [62] - The company is committed to enhancing its advertising platform and expanding its non-electronics product mix to drive future growth [54] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging macroeconomic environment, with inflation reaching 61.5%, but emphasized the company's robust performance [22] - The company expects GMV growth in Q4 to be between 93% to 95% compared to the same period last year, with an EBITDA margin of 0.5% to 1% [40] - Management expressed confidence in the sustainability of profitable growth despite potential consumer demand impacts from interest rate hikes [53] Other Important Information - The company reported a free cash flow of TRY 2 billion in Q3 2023, reflecting a significant improvement in operating profitability [74] - The Hepsipay wallet allows customers to use loans from partner banks for payments, enhancing the payment experience [63] Q&A Session Summary Question: What drives growth deceleration in Q4 2023 compared to Q3 2023? - Management indicated that the strong base in Q4 '22 and the VAT change in Q3 are key factors for expected deceleration [49] Question: Could you provide color on September sales and how the Legendary November event was relative to your expectations? - Management confirmed that the November campaign met expectations, driven by increased uptake from Premium consumers and strong performance in non-electronic categories [51][78] Question: What is the outlook for EBITDA margin in 2024? - Management stated that they are focused on sustainable profitability rather than a specific margin target for 2024 [82] Question: Can you provide an update on the recent competition authority investigation? - Management shared that they are cooperating with the investigation regarding price recommendations and are confident about the potential outcomes [96]

D-Market Elektronik Hizmetler ve Ticaret A.S. (NASDAQ:HEPS) Q2 2023 Earnings Conference Call August 24, 2023 9:00 AM ET Conference Call Participants Ladies and gentlemen, thank you for standing by. I am Geli, your Chorus Call operator. Welcome, and thank you for joining the Hepsiburada Conference Call and Live Webcast to present and discuss the Second Quarter 2023 Financial Results. [Operator Instructions] Thanks, operator. Thank you for joining us today for Hepsiburada's second quarter 2023 earnings call. ...

Financial Performance - Revenue increased by 42.8% YoY to TRY 5893.6 million in Q2 2023[96] - Gross Contribution margin increased by 4.4 percentage points YoY to 9.3% of GMV in Q2 2023[165] - Net income was TRY 881.1 million for Q2 2023, compared to a net loss of TRY 782.7 million for Q2 2022[96] - IAS 29-Unadjusted EBITDA reached 2.0% of GMV in Q2 2023, a 4.7 percentage points YoY increase[70] - GMV grew by 43% YoY, reaching TRY 19.0 billion in Q2 2023[165] Operational Metrics - Total orders increased by 95% YoY to 27.5 million in Q2 2023[70] - Active Customers increased by 3% YoY to 12.0 million in Q2 2023[101] - (LTM) Active Merchants increased by 14% YoY in Q2 2023[120] - Number of SKUs increased by 50% YoY from 130.3 million to 194.7 million in Q2 2023[82] Hepsipay and Affordability Solutions - Hepsipay wallet base reached 12.5 million users in Q2 2023[67] - BNPL solutions saw 207K+ clients using their limits as of Q2 2023[67]

Exhibit 99.1 Hepsiburada Announces Second Quarter 2023 Financial Results ISTANBUL, August 24, 2023 - 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 ended June 30, 2023. Restatement of financial information: Pursuant to the International Accounting Standard 29, Financial Reporting in Hyperinflationary Economies ("IAS ...

Financial Data and Key Metrics Changes - The company achieved a positive EBITDA of TRY 176 million, marking the highest level since its IPO in July 2021, with a year-on-year EBITDA as a percentage of GMV rising by 4.8 percentage points [3][21][28] - Revenue growth was reported at 16% year-on-year, with adjusted for inflation GMV growth at 78%, reaching TRY 14.8 billion [51][55] - The gross contribution margin improved to 9.3%, reflecting a 5.6 percentage point increase compared to the same quarter last year [25][56] Business Line Data and Key Metrics Changes - The share of marketplace GMV reached 68%, up from 65% in Q1 2022, indicating a strategic advantage in third-party operations [24] - Non-electronics categories in GMV split rose by 1.6 percentage points to 43% year-on-year, showcasing diversification in product offerings [24] - HepsiPay Wallet users increased to 11.8 million, a 66% rise year-on-year, with 87% of GMV generated by HepsiPay customers [41] Market Data and Key Metrics Changes - The number of merchants on the platform exceeded 100,000, reflecting a 21% year-on-year increase, with total orders around 74 million, marking a 61% growth [9][37] - The company reported a significant improvement in next-day delivery capabilities, rising to 84% year-on-year [15] - The active customer base remained nearly TRY 11.9 million, with signs of recovery post-earthquake [37] Company Strategy and Development Direction - The company aims to focus on sustainable differentiators, including affordability solutions and superior delivery services, to enhance customer retention and competitive positioning [5][10] - A strategic priority is to offer logistics and fintech solutions to third parties, unlocking new revenue streams and enhancing operational efficiency [46] - The company is committed to profitability through core operations and cost optimization, with a focus on customer loyalty via the Hepsiburada Premium program [10][38] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for the second quarter, expecting continued strong growth driven by improved merchant onboarding and a focus on non-electronics [60][62] - The company acknowledged the impact of the February earthquake but noted a return to pre-earthquake levels in customer engagement by March [37][49] - Management emphasized the importance of optimizing discounts and operational expenditures to maintain profitability [70][72] Other Important Information - The company launched the HepsiPay debit card and introduced new customer loan features to enhance financial flexibility for users [48] - HepsiJet's performance in logistics showed a solid increase in third-party delivery services, contributing to overall growth [17][44] - The company reported a negative free cash flow of TRY 154 million in Q1 2023, an improvement from negative TRY 2.3 billion in Q1 2022, due to better working capital management [27] Q&A Session Summary Question: What are the main drivers behind the robust growth expected in the second quarter? - Management indicated that the growth rate in Q1 was significantly hampered by the earthquake, and excluding this factor, stronger growth was observed, leading to confidence in future performance [60] Question: Do you expect a positive trend to continue in the rest of the year? - Management expressed optimism about maintaining a positive trend, particularly with the onboarding of new merchants and a focus on non-electronics, which are expected to enhance margins [62] Question: How is the company managing discounts and operational expenditures? - Management confirmed ongoing optimization of customer discounts and operational expenditures to ensure profitability moving forward [70][72]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 1 ...

Financial Data and Key Metrics Changes - In Q4 2022, the company generated positive free cash flow of TRY 1.1 billion compared to negative TRY 191 million a year ago, attributed to better working capital management and improved EBITDA [3][4] - For the full year 2022, free cash flow was nearly flat at negative TRY 416 million, with higher cash provided by operating activities [4] - The company achieved a negative 2.1% EBITDA as a percentage of GMV in 2022, marking a 4.4 percentage point year-on-year improvement [66] Business Line Data and Key Metrics Changes - The adjusted GMV grew by 104% in Q4 2022 compared to Q4 2021, with a full year GMV growth of around 4% [17][20] - Marketplace revenue grew by approximately 41%, while 1P revenue increased by 3% and other revenues, including advertising and fulfillment services, surged by 86% [24] - The share of non-electronics in GMV rose to 42% in 2022, reflecting the expansion of long-tail products [20] Market Data and Key Metrics Changes - E-commerce penetration in Turkey remains low at 15%, indicating significant growth potential [12] - The company reported a 39% increase in order frequency, reaching 6.6 orders per customer in 2022 [67] - The active customer base grew by over 900,000, totaling 12.2 million by year-end [42] Company Strategy and Development Direction - The company aims to focus on customer loyalty through its Hepsi Premium program, which has already attracted 840,000 members [54] - Plans to externalize payment services and logistics to other online retailers are in place, leveraging HepsiPay and HepsiJet for additional revenue streams [53][59] - The strategic focus includes improving profitability through a prioritized approach to core commerce and cost optimization [60] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving adjusted EBITDA breakeven in Q1 2023, despite challenges posed by recent earthquakes [64] - The company anticipates GMV growth of around 70% in Q1 2023 compared to Q1 2022, which is expected to exceed inflation [64] - Management highlighted the importance of digitalization in Turkish e-commerce and the potential for sustainable profitability [37] Other Important Information - The company has initiated a two-year program to support small and medium-sized enterprises in earthquake-affected regions, aiming to generate TRY 10 billion in GMV during this period [63] - HepsiJet's operational footprint expanded significantly, delivering 65% of Hepsiburada parcels in 2022, up from 50% in 2021 [58] Q&A Session Summary Question: Impact of new e-commerce regulation on revenue and marketing costs - Management welcomed the new regulation, expecting a reduction in marketing investment aligned with improved performance marketing and customer retention strategies [9][10] Question: CapEx guidance for 2023 - Management indicated that CapEx for 2023 would be similar to 2022, primarily focused on R&D and technology investments [11][12] Question: Competitive environment and customer acquisition - Management noted that Hepsiburada's local agility and resources provide a competitive advantage over global players like Amazon, emphasizing a strong market position [34][35]