The following is a summary of the D-Market Elektronik Hizmetler Ve Ticaret A.S. (HEPS) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Achieved quarterly positive operating income for the first time since IPO.

• GMV growth of 10.3% in Q3 and 17.4% in the first nine months year-on-year, adjusted for inflation.

• Gross contribution margin rose to 11.3% in the first nine months, a 1.9 percentage point improvement year-on-year.

• EBITDA as a percentage of GMV reached 1% in the first nine months of the year, adjusted for inflation.

Business Progress:

• Launched 'renew your mobile at your doorstep' product, a first in Turkey, enhancing customer convenience and satisfaction.

• Expanded active customer base by 233,000 to 12.3 million.

• Increased loyalty program membership to 3.7 million, with Premium Days event attracting 130 million visits.

• Expanded merchant base and SKU selection, particularly in fashion and lifestyle, while strengthening logistics capabilities through HepsiJet.

Opportunities:

• Growth in e-commerce driven by strong demographic trends in Turkey, including a large, young population and high mobility.

• Expansion of financial solutions like BNPL and in-house consumer finance loans, targeting Turkey's $40 billion consumer loan market.

Risks:

• Macroeconomic pressures may impact consumer purchasing power and demand, especially for discretionary products.

More details: D-MARKET Electronic Services & Trading IR

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