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.
Hepsiburada (NASDAQ: HEPS) announced on March 22, 2023, that it received a notification from Nasdaq regarding non-compliance with the Minimum Bid Requirement of $1.00 for its American depositary shares (ADSs). The company has 180 days, until September 18, 2023, to regain compliance. This does not affect its current trading status or business operations. Hepsiburada, a leading Turkish e-commerce platform, serves over 55 million members and offers over 160 million SKUs across various categories. The company plans to take necessary measures to meet Nasdaq's requirements before the deadline.
D-MARKET Electronic Services & Trading (Hepsiburada) reported its unaudited financial results for Q4 and FY 2022. Key highlights include a 13.9% increase in gross merchandise value (GMV) to TRY 19.4 billion, and a 9.7% rise in revenue to TRY 5,535.2 million compared to Q4 2021. Active customers grew 8.1% to 12.2 million. Despite these gains, the company faced a net loss of TRY 546.1 million, contrasting with a net income of TRY 588.8 million in Q4 2021. EBITDA improved significantly, though it remained negative at TRY 245.9 million. For FY 2022, GMV rose 3.8%, and revenue increased by 6.8%. Free cash flow turned positive at TRY 1,059.3 million in Q4.
Hepsiburada, a prominent Turkish e-commerce platform (NASDAQ: HEPS), is set to release its unaudited financial results for Q4 and the full year ending December 31, 2022, on March 22, 2023, before U.S. market hours.
The company will hold a conference call and live webcast to discuss these results at 16:00 Istanbul time (13:00 London, 09:00 New York) on the same day. Hepsiburada's platform connects around 50 million members to over 145 million SKUs across various categories, highlighting its expansive marketplace.
Hepsiburada (NASDAQ: HEPS) assessed the impact of the February 6, 2023 earthquake in Türkiye on its operations. The company confirmed that none of its employees were affected, and key facilities remained intact. However, nine of its 190 cross-dock points require relocation, costing up to $200,000. The earthquake caused a temporary decline in customer demand, particularly from the affected regions, due to reduced traffic and a halt in marketing efforts. Hepsiburada has advanced payments to around 6,500 merchants from the impacted cities and has initiated a relief effort, donating 1.2 million products and managing logistics for donations. Further updates will be provided at the 2022 results announcement.
Hepsiburada, a prominent Turkish e-commerce platform, has launched a donation campaign to assist the victims of the 7.8 magnitude earthquake that struck southeastern Türkiye on February 6, 2023. In response to the disaster, Hepsiburada has implemented several initiatives, including facilitating the sale of 1.2 million aid products and the distribution of 115 million TRY worth of aid within just 8 days. The company has also introduced digital prepaid donation cards, allowing customers to contribute to NGOs and public bodies quickly. To broaden the relief efforts, Hepsiburada created a dedicated donation page for international donations, ensuring timely delivery of aid items.
D-MARKET Electronic Services & Trading (Hepsiburada) has announced it has regained compliance with Nasdaq's minimum bid price requirement of $1.00 per share. This achievement follows a period where the company's American depositary shares (ADSs) closed at or above the required price for 10 consecutive business days, effectively closing this compliance matter with Nasdaq. Hepsiburada is a prominent Turkish e-commerce platform, connecting around 50 million members with over 145 million products across various categories. The company supports both direct sales and a marketplace model with over 94,000 merchants.
D-MARKET Electronic Services & Trading, operating as Hepsiburada (NASDAQ: HEPS), announced changes to its Board of Directors and executive management on January 2, 2023. Dr. Stefan Gross-Selbeck was appointed as an independent board member following Cemal Ahmet Bozer's resignation due to term limits. Nilhan Gökçetekin remains CEO, while Mr. Emirdağ continues as a board director. The Chief Information and Technology Officer roles have been merged, and the Chief People & Culture Officer now oversees customer experience. Hepsiburada serves over 50 million members with a diverse product offering.
D-MARKET Electronic Services & Trading, operating as Hepsiburada (NASDAQ: HEPS), announced the appointment of Nilhan Onal Gökçetekin as the new CEO effective January 1, 2023. With over 25 years of experience in sectors including retail and e-commerce, she previously worked at Amazon Europe, focusing on business growth.
Gökçetekin aims to enhance Hepsiburada's position in Türkiye's e-commerce market by prioritizing digitalization, brand trust, and sustainable growth.
D-MARKET Electronic Services & Trading, operating as Hepsiburada, released its Q3 2022 financial results, indicating a 6.9% revenue increase to TRY 3,281.2 million. However, the gross merchandise value (GMV) fell by 8.5% to TRY 11 billion. The company reported an improved EBITDA loss of TRY 638.1 million, down 48.8% year-over-year. Active customers rose to 11.8 million, marking an 11% increase. Positive cash flow of TRY 331.1 million was achieved, in contrast to significant losses in the same quarter last year. Full-year GMV growth guidance was revised upward to 70%, reflecting optimism amid ongoing macroeconomic challenges.
D-MARKET Electronic Services & Trading, operating as Hepsiburada (NASDAQ: HEPS), announced that its fintech solution, Hepsipay, has reached 10 million users as of November 2022. Hepsipay enhances online shopping by offering fast, safe payment options and features like one-click purchases, instant refunds, and bank transfers without card use. It also introduced Türkiye's first 'Buy Now, Pay Later' service, allowing customers to pay in installments. Hepsiburada connects over 45 million members with over 130 million SKUs across 30 categories, reinforcing its role as a leading e-commerce platform in Türkiye.