D-Market Electronic Services & Trading Stock Price, News & Analysis

Hepsiburada (NASDAQ: HEPS), a prominent Turkish e-commerce platform, has signed the United Nations Women's Empowerment Principles, aiming to enhance gender equality in various sectors. CEO Murat Emirdağ emphasized the company's dedication to sustainability and social responsibility. The firm launched the Technology Empowerment for Women Entrepreneurs Program in 2017, helping over 32,000 female entrepreneurs with essential resources. Hepsiburada connects 44.2 million members and 82,900 Active Merchants, providing a wide range of services including grocery delivery and digital payments.

On July 22, 2022, Hepsiburada (NASDAQ: HEPS) received a notice from Nasdaq indicating that its American depositary shares (ADSs) have fallen below the minimum bid price requirement of US$1.00 per share for continued listing. This notification is not an imminent delisting notice and does not affect trading currently. The company has until January 18, 2023, to regain compliance by achieving a bid price of US$1.00 or above for at least 10 consecutive business days. Hepsiburada's operations remain unaffected as it considers measures to meet this requirement.

Hepsiburada (NASDAQ: HEPS) announced the appointment of Nilhan Onal as CEO, effective January 1, 2023, succeeding Murat Emirdag, who will transition to a non-executive board role. Onal brings 25 years of experience, including prior roles at Amazon Europe and Procter & Gamble. Emirdag led Hepsiburada since February 2019, achieving significant growth and developing integrated technology ecosystems. Founder Hanzade Dogan expressed gratitude for Emirdag's leadership and optimism for Onal's impact on the company's future.

Hepsiburada has launched Hepsiburada Premium, the first monthly subscription service in Turkey's e-commerce sector, offering numerous benefits. Subscribers enjoy free delivery on orders over 25₺, 3% cashback through HepsiPay, free assembly for furniture and tires, and a complimentary BluTV subscription. They also receive special brand offers and expedited customer support. This introduction aligns with Hepsiburada's goal to enhance customer experience while positioning itself as a leader in digital commerce in Turkey.

Hepsiburada (NASDAQ: HEPS) has updated shareholders on significant amendments to Turkey's E-commerce Law, approved by the Turkish Parliament on July 1, 2022. The changes aim to create a fairer e-commerce environment by limiting marketing expenditures and banning private label products, effective January 1, 2024. Additionally, businesses exceeding certain transaction values must obtain a license and pay fees based on their net transaction value, starting January 1, 2025. Hepsiburada anticipates these amendments will promote a healthier market and does not foresee limitations on its strategic operations.

D-MARKET Electronic Services & Trading (Hepsiburada) (NASDAQ: HEPS) announced new appointments to its Audit, Risk, and Corporate Governance Committees, following recent changes to the Board of Directors. Effective June 24, 2022, Dr. H. Cem Karakaş and Mr. Ahmet F. Ashaboğlu have joined the Board, replacing Mr. Erol Çamur and Mr. H. Korhan Öz. Additionally, Mr. Cemal Ahmet Bozer stepped down from committee positions due to independent member qualifications. The new Audit Committee members are deemed independent and financially literate under applicable regulations, enhancing corporate governance.

D-MARKET Electronic Services & Trading (Hepsiburada) announced the appointment of Erkin Aydın as CEO of Hepsi Finansal Danışmanlık A.Ş. effective June 1, 2022. This appointment aligns with the company’s strategy to enhance its financial services, particularly following its acquisition of Doruk Finansman, marking Hepsiburada's entry into the consumer finance sector. Aydın brings extensive experience from QNB Finansbank and aims to position Hepsiburada as a leading Fintech player in Turkey.

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.