Q4 2024 D Market Elektronik Hizmetler ve Ticaret AS Earnings Call Transcript
Key Points
- D-MARKET Electronic Services & Trading (HEPS) achieved a real GMV growth of 12.1% in 2024.
- The company improved its gross contribution margin to 11.3%, marking a 2.1%-point improvement year over year.
- EBITDA as a percentage of GMV expanded to 1.1%, with a 0.7%-point rise compared to the previous year.
- Active customer base grew by 235,000, reaching a total of 12.2 million customers.
- The company's loyalty program, Hexo Product Premium, increased its membership to 3.7 million, enhancing customer loyalty.
- Start of 2025 faced challenges due to macroeconomic headwinds and consumer boycotts affecting purchasing power.
- Marketing activities were limited due to political sensitivity and boycotts in the first quarter of 2025.
- Free cash flow decreased by TRY1.9 billion compared to the previous year, primarily due to decreased net cash from operating activities and increased CapEx.
- There was a 0.5% rise in payroll and outsourced staff expenses, impacting overall profitability.
- Shipping and packaging expenses increased due to higher parcel volume and rising delivery fees, affecting cost efficiency.
Ladies and gentlemen, thank you for standing by. I'm Vasilios your chorus call operator. Welcome and thank you for joining the Hepsiburada conference call and the live webcast to present and discuss the 4th quarter and full year 2024 final results.
All participants will be in a listen-only mode and the conference is being recorded. The presentation. Should anyone need assistance during the conference call, you may signal an operator by pressing the telephone. At this time, I would like to turn the conference over to Ms. Nilhan Olaan, Gyutskasekin, CEO, Mr. Sachin Kuseoglu, CFO, Ms. Terence Tuzhou, investor relations director, Ms. Tuzhou, you may now proceed.
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Thanks operators.
Thank you very much for joining us today for Hepsiburada 4th quarter and full year 2024 earnings call. I'm pleased to be joined on the call today by our CEO Nilhan Olaan, Gyutskasekin and our CFO Sachin Kuseoglu. The following discussions reflect
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