D-MARKET Electronic Services & Trading, the Istanbul-based e-commerce company, disclosed its third-quarter financial results for 2024 today. The company, registered under the SEC file number 001-40553, is known for its retail-catalog and mail-order houses services.
The report, filed in accordance with the United States Securities and Exchange Commission's Form 6-K, provides a snapshot of the company's financial position as of December 10, 2024. The filing was signed by Nilhan Gökçetekin, Chief Executive Officer, and M. Seçkin Köseoğlu, Chief Financial Officer of D-MARKET Electronic Services & Trading.
In the press release accompanying the filing, D-MARKET outlined its financial performance, detailing revenue, expenses, and net income for the quarter.
The company, which operates in a competitive sector characterized by both local and international players, has been focusing on expanding its customer base and improving operational efficiency. Analysts maintain a strong bullish consensus on the stock, with InvestingPro data showing price targets ranging from $2.95 to $4.75.
The financial statements included in the press release give investors a comprehensive view of the company's economic health, including its assets, liabilities, and equity position. These figures are crucial for stakeholders to assess the company's profitability and investment potential.
D-MARKET's latest financial results reflect its ongoing efforts to remain a competitive force in the e-commerce industry. The company's business address is located at Kuştepe Mahallesi Mecidiyeköy Yolu, Cadde no: 12 Kule 2 K2, Istanbul, Türkiye.
This news article is based on a press release statement and the factual information contained within the SEC filing. It is intended to provide investors with clear and concise insights into D-MARKET's financial outcomes for the third quarter of 2024. InvestingPro analysis indicates the stock is currently trading near its Fair Value, with 15 additional ProTips and comprehensive financial metrics available to subscribers through the Pro Research Report.
In other recent news, D-Market Electronic Services & Trading, also known as Hepsiburada, has witnessed remarkable financial developments. The company reported a 33% increase in order volume for Q2 2024, reaching 36.7 million orders, and a doubling of Gross Merchandise Volume (GMV) compared to the first half of 2023. Active customers also grew to 12.1 million. Analysts predict strong Q3 results, forecasting a GMV growth between 70% and 75% year-on-year, and an EBITDA margin of approximately 2.2% of GMV.
Hepsiburada's subsidiary, Hepsi Finansman A.Ş., issued bonds with a principal amount of TRY 250 million to support the expansion of its consumer finance business. The company also raised TRY 350 million through its second asset-backed securities issuance, aimed at bolstering its Buy Now, Pay Later business segment.
In a significant strategic move, Kazakhstan-based Joint Stock Company Kaspi.kz is poised to acquire all outstanding Class A and Class B shares of Hepsiburada from certain selling shareholders, leading to an anticipated change of control of the Turkish e-commerce platform.
The company has also reshuffled its Board of Directors' committees, enhancing its corporate governance and risk management practices. In compliance with U.S. financial regulations, D-Market recently filed a regulatory submission with the U.S. Securities and Exchange Commission. These are the recent developments in Hepsiburada.
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