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D-MARKET Electronic Services & Trading reports recurring updates as Hepsiburada, a Turkish e-commerce technology platform whose ADSs trade under HEPS. The company operates a hybrid model that combines first-party direct sales with a third-party marketplace, offering electronics and non-electronics merchandise and generating revenue from sales of goods, marketplace activity and other services.
Company announcements address unaudited financial results, order, GMV and revenue trends, and IFRS reporting adjusted under IAS 29 for hyperinflationary economies. Recurring business topics include Hepsipay digital wallets, general-purpose loans, buy now pay later, fulfillment, last-mile delivery, advertising, cross-border sales, payment services, affordability solutions, shareholder meetings, governance matters and ADR voting mechanics.
D-MARKET Electronic Services & Trading (Hepsiburada) announced Q1 2022 results, showing 84.4% GMV growth to TRY 8.3 billion and 82.4% revenue growth to TRY 2,527.9 million, year-over-year. Active customers reached 12 million with a 27.5% increase. However, the company reported a net loss of TRY 239.7 million and a negative EBITDA of TRY 302.9 million, despite improving operational metrics. Free cash flow was also negative at TRY 1,361.9 million. The CEO emphasized ongoing growth amid challenging market conditions.
D-MARKET Electronic Services & Trading (Hepsiburada) will hold its 2021 Annual General Assembly on June 24, 2022, at its headquarters in Istanbul. Key agenda items include the review of the 2021 financial statements, appointment of board members due to resignations, and the approval of the 2022 independent auditor. Shareholders with American Depositary Shares must vote through The Bank of New York Mellon. As of December 2021, Hepsiburada had 41.8 million members and 75,000 active merchants.
Hepsiburada (NASDAQ: HEPS), a top Turkish e-commerce platform, announced the resignation of Board members Erol Çamur and Halil Korhan Öz on May 20, 2022. Dr. Halil Cem Karakaş and Ahmet Fadıl Ashaboğlu will join the Board, pending shareholder approval at the next Annual General Assembly. The changes were expected during the company’s IPO and do not stem from any disagreements. Hepsiburada's Board now comprises four independent members meeting SEC and Nasdaq requirements, enhancing its governance structure. Öz remains CFO.
D-MARKET Electronic Services & Trading, operating as Hepsiburada (NASDAQ: HEPS), will announce its unaudited financial results for the first quarter ending March 31, 2022, on June 1, 2022. The announcement will occur prior to the U.S. market opening. Following the release, the management will host an analyst and investor conference at 16:00 Istanbul time, which will be available via a live webcast. Hepsiburada aims to enhance its e-commerce offerings in Turkey, serving 41.8 million members and 75,000 active merchants as of December 2021.
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D-MARKET Electronic Services & Trading, known as Hepsiburada (NASDAQ: HEPS), has filed its annual report on Form 20-F for the fiscal year ending December 31, 2021, with the SEC on May 2, 2022. The report, featuring audited consolidated financial statements, is available on the company's investor relations website and the SEC's site. Hepsiburada, a prominent Turkish e-commerce platform, connects 41.8 million members and 75,000 active merchants, offering diverse services, including grocery delivery and payment solutions through its digital wallet, Hepsipay.
D-MARKET Electronic Services & Trading (Hepsiburada) reported robust growth in Q4 2021, with gross merchandise value (GMV) up 52.5% to TRY 9.4 billion and revenue increasing 25.4% to TRY 2,759.1 million. Active customers rose by 24.8% to 11.3 million, while order volume hit a record 17.4 million, a 53.4% increase. However, EBITDA worsened to negative TRY 676.7 million due to higher advertising and payroll costs. For the full year, GMV grew 54% to TRY 26.2 billion, surpassing guidance, but net losses increased to TRY 625.8 million compared to the previous year.
Hepsiburada (NASDAQ: HEPS), a prominent Turkish e-commerce platform, will announce its unaudited financial results for the fourth quarter and fiscal year ending December 31, 2021, on March 24, 2022. The company plans to host a conference call and live webcast for analysts and investors at 16:00 Istanbul / 13:00 London / 9:00 AM New York time on the same day. Results presentation will be accessible via their Investor Relations website.
Hepsiburada (NASDAQ: HEPS) has launched the "Women's Cooperatives: Stronger with E-Commerce in the Pandemic" project in collaboration with the ILO, I4D, and U.S. State Department. This initiative aims to enhance the digital and business skills of over 100 women from 5 cooperatives impacted by the pandemic. Participants will receive training, mentoring, and support including commission discounts and marketing assistance. Hepsiburada has previously supported 24,000 female entrepreneurs since 2017, increasing the proportion of female-led vendors on its platform from 6% to 23%.
Hepsipay, the digital wallet of Turkish e-commerce platform Hepsiburada (NASDAQ: HEPS), has introduced a 'Buy Now Pay Later' feature, marking a first for e-commerce in Turkey. This option allows users to defer payments for purchases made through the Hepsipay Wallet for one month. The payment limit is calculated based on individual shopping history. The feature is currently exclusive to products sold by Hepsiburada, with plans for potential expansion to other merchants. This initiative aims to enhance customer experience and demonstrate Hepsiburada's commitment to digital commerce in Turkey.