D Market Elektronik Hizmetler ve Ticaret AS
NASDAQ:HEPS

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D Market Elektronik Hizmetler ve Ticaret AS
NASDAQ:HEPS
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Price: 2.8 USD
Market Cap: $912.8m

D Market Elektronik Hizmetler ve Ticaret AS
Investor Relations

D-MARKET Elektronik Hizmetler Tic.A.S. is a holding company, which owns and operates an online shopping website. The firm's platform brings together 50 million product types in nearly 40 categories. The scope of products include white goods, electronics, apparel, accessories, home textile and stationary products.

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Last Earnings Call
Fiscal Period
Q4 2024
Call Date
Apr 30, 2025
AI Summary
Q4 2024

GMV Growth: Hepsiburada posted 12.1% real annual GMV growth for 2024, with order growth and higher average order value driving performance.

Margin Expansion: Gross contribution margin rose to 11.3%, up 2.1 percentage points year-on-year, and EBITDA as a percentage of GMV improved to 1.1%.

Active Customers: The active customer base grew by 235,000 to reach 12.2 million, while order frequency increased by 14% to 10.8 over the past 12 months.

Strategic Progress: Key priorities—loyalty (Premium), logistics (HepsiJet), lending, and B2B services—showed solid progress, with notable increases in lending volume and off-platform logistics.

Kaspi Acquisition: In January 2025, Kaspi completed the purchase of a 65.4% controlling stake, opening up new value creation opportunities.

Challenging Start to 2025: The first quarter of 2025 faced macro headwinds and consumer boycotts, impacting marketing activity and consumer demand.

Key Financials
GMV
12.1% growth (real, 2024 vs. 2023)
GMV (Q4)
49.4% growth (unadjusted for inflation)
Revenue
11.1% growth (2024 vs. 2023)
Revenue (Q4)
6.4% growth
Gross Contribution Margin
11.3%
EBITDA as % of GMV (2024)
1.1%
EBITDA as % of GMV (Q4)
1.8%
Active Customers
12.2 million
Order Frequency (LTM)
10.8
Orders
131.4 million
Lending Volume
TRY 16.2 billion
Hepsiburada Premium Members
3.7 million
HepsiJet Off-Platform Share
34.6%
Free Cash Flow
TRY 3.7 billion
CapEx
TRY 2 billion
Earnings Call Recording
Other Earnings Calls

Management

Ms. Nilhan Gokcetekin
Chief Executive Officer
No Bio Available
Mr. Mehmet Seckin Koseoglu
Chief Financial Officer
No Bio Available
Mr. Alexey Shevenkov
Chief Technology Officer
No Bio Available
Helin Sinem Celikbilek
Investor Relations Director
No Bio Available
Harika Eldogan
Head of Public Relations
No Bio Available
Ms. Esra Beyzadeoglu
Chief Customer Experience & People Officer
No Bio Available
Mr. Ender Ozgun
Chief Commercial Officer
No Bio Available
Mr. Hakan Karadogan
Chief Executive Officer of Logistics
No Bio Available
Mr. Erkin Aydin
Chief Executive Officer of Hepsi Finansal Danismanlik A.S.
No Bio Available

Contacts

Address
ISTANBUL PROVINCE
Istanbul
Kustepe Mah. Mecidiyekoy Yolu Cad. No:12
Contacts
+908502524000.0
www.hepsiburada.com