D-MARKET Elektronik Hizmetler ve Ticaret AS · NASDAQ:HEPS
D-MARKET Elektronik Hizmetler ve Ticaret AS — Hepsiburada — Investor Presentation (August 2025)
36 slides from D-MARKET Elektronik Hizmetler ve Ticaret AS's investor presentation, August 2025
Slide 1: Investor Deck Aug'25
hepsiburada Improves people's lives by developing innovative products and services Investor Deck Aug’25 Yepstourada "Ca PREMIUE
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation, the conference call webcast, press release and related communications include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the S
Slide 3: Türkiye: Large and structurally attractive market
Türkiye: Large and structurally attractive market One of the Largest and Most Digital Countries Young and Urban Demographic Strong GDP Growth Almost Half of the Population Under the Age of 30(1) Real GDP, 2024(6) 85+MM ~44% Population(1) Working Age Group(1) Between ages 15-64 89% ~68% 3.2% 2.9% 2.8
Slide 4: Hepsiburada: Unique platform with superior assets and differentiation
Hepsiburada: Unique platform with superior assets and differentiation Customers Merchants Text Box • 12M active customers(1) • ~100K active merchants(1) • Order frequency: 9.3(1) • ~298M SKUs on the platform(2) • 18.9M total orders(1)(5) • Hepsiburada My Business Partner app • 3.7M Hepsiburada Premi
Slide 5: Our core value drivers for sustainable and profitable growth
Our Core value drivers identified to maintain sustainable and profitable growth in e-commerce 1 2 3 4 5 Commercial State of Art Strong Customer Unmatched Service Excellence Leadership Growth Engine Loyalty Affordability Widest affordability Partner with brands Marketing engine Best-in-market and pay
Slide 6: Hepsiburada is a trusted household brand
Hepsiburada is a trusted household brand Highest Brand NPS among Hepsiburada Premium Program NPS Our customers love Hepsiburada (2) E-commerce Players in Turkey is even stronger c.75% 73% 3.7M 74 Premium NPS Members in Q4 2024(1) by the end of 2024(1) Source: Company data unless stated otherwise in
Slide 7: Hepsipay envisions creating a holistic financial services platform
Hepsipay envisions creating a holistic financial services platform built upon Hepsiburada strengths and addressing the opportunity Strong payments & affordability A financial services platform building on foundation Hepsiburada strengths Target market1: $102 bn Pay with Hepsipay ✔ General purpose lo
Slide 8: HB Financial Services: The most diverse affordability solutions
HB Financial Services: The most diverse affordability solutions Inhouse Consumer Loan BNPL Shopping Loan General Purpose Loan Continue • Up to 36 months maturity • Buy now and pay in up to 12 • Instant point of sale loans • Top-up to wallet with loans with consumer finance loans installments for Hep
Slide 9: HepsiJET: Pivotal in powering our superior delivery service
HepsiJET: Pivotal in powering our superior delivery service capabilities Fast & Reliable Service 2-Man-Handling Flexible Delivery Options with HJ • Next-Day Delivery XL Unique • Same Day & Scheduled Next-Day Delivery service • Sunday Delivery • Return Pick-Up Services From Address • Parcel Live-Trac
Slide 10: Profitability achieved through key strengths and cost management
Profitability achieved through key strengths and cost management EBITDA Turnaround Sustainable and Profitable Growth in 2024 Key Building Blocks Grow advertising services business, HepsiAd • Optimization of marketing expenses Increase third-party revenues (off-platform) • Higher gross contribution m
Slide 11: Regulation: Leveling the Playing Field in Turkish E-commerce
Regulation: Leveling the Playing Field in the Turkish E-commerce Market Effective Date Limits and restrictions introduced Impact on Hepsiburada Limits on the total amount of advertising & marketing 2023 expenses and customer discounts (max at 2% of previous Hepsiburada NTV is below the threshold for
Slide 12: Q2'25 & H1'25 Results
Q2’25 & H1’25 Results: IAS 29-Unadjusted IAS 29-Unadjusted IAS 29-Unadjusted GMV Growth Gross Contribution Margin EBITDA as a % of GMV H1’25 34.9% 13.7% +1.1 pp YoY 2.1% -0.3 pp YoY Q2’25 52.2% 13.2% +0.0 pp YoY 2.2% -0.2 pp YoY Adjusted for inflation GMV Growth Gross Contribution Margin EBITDA as a
Slide 13: Business Update Q2'25 / H1'25
Business Update Q2’25 / H1’25
Slide 14: Most Recommended E-Commerce Brand in Türkiye
Hepsiburada: Most Recommended E-Commerce Brand in Türkiye Expanding Increasing Onboarding Highest NPS in the Active Customers Customer Engagement New Brands Turkish E-Commerce 12M Active Customers(1) 18.9M Number of Orders(3) ~100K Active Merchants 74 Net Promoter Score(5) ~3.7M HB Premium Members(2
Slide 15: Win With Loyalty: HB Premium Program
Win With Loyalty: HB Premium Program Is A Key Factor In Customer Loyalty Increasing Adoption ~3.7M HB Premium members(1) Higher Retention 1.3x Higher monthly order frequency after joining the program(2) Partnership with extra benefits via with access to Warner Bros. Premium co-Branded Yapı Discovery
Slide 16: Superior Delivery Services: Offering HepsiJET Off-Platform
Differentiation With Superior Delivery Services: Offering HepsiJET Services Off-Platform Proven Service Excellence HepsiJET’s External Customer Share HJ – Volume Share of External Customers(5) (million parcels) 81% +10 pp Next day 35% performance(2) 25% 72% 68% HepsiJET Hepsi XL % Total Parcels % To
Slide 17: Hepsipay Is A Leading Payment Solutions Provider In Türkiye
Differentiation With Financial Services: Hepsipay Is A Leading Payment Solutions Provider In Türkiye Hepsipay Digital Wallet Hepsipay’s One Click Checkout Solution 17.9M Hepsipay Wallet Customers(1) 140 Retailers already integrated • “Pay with Hepsipay”(1) 2.0M HB prepaid cards issued(1) Target Mark
Slide 18: Financial Update Q2'25 / H1'25
Financial Update Q2’25 / H1’25
Slide 19: H1'25 Results and Q2'25 Performance
H1’25 Results and Q2’25 Performance Gross Contribution EBITDA GMV Margin as a % of GMV TRY 96.4 Bn 12.4% 0.9% H1’25 (2.5%) YoY +1.3 pp YoY -0.1 pp YoY Q2’25 TRY 51.1 Bn 12.4% 1.4% 11.9% YoY +0.4 pp YoY +0.3 pp YoY Note: See “Certain Definitions” in the Appendix of this presentation for GMV, EBITDA a
Slide 20: Q2 GMV Performance partially offset the Q1 y-o-y GMV decline
Q2 GMV Performance partially offset the Q1 y-o-y GMV decline 20 Note: See “Certain Definitions” in the Appendix of this presentation for GMV and Revenue definition.
Slide 21: Revenue growth accelerated via topline growth & revenue diversification
Revenue growth accelerated via topline growth & revenue diversification (1): Other revenue includes Hepsiburada Premium, advertising, Hepsi Lojistik, Hepsipay and other revenues 21
Slide 22: EBITDA as a % of GMV increased during the quarter
Our EBITDA as a % of GMV increased during the quarter, supported by our topline and margin growth 22 Note: See “Certain Definitions” in the Appendix of this presentation for a definition of Gross Contribution Margin and EBITDA.
Slide 23: Free cash flow has improved both quarterly and year-to-date
Free cash flow has improved both quarterly and year-to-date (1): Free Cash Flow is a non-IFRS measure defined as net cash provided by operating activities less capital expenditures plus proceeds from sale of property and equipment. For reconciliation to the most comparable IFRS measure, please refer
Slide 24: Appendix
Appendix hepsiburada
Slide 25: Building Our Sustainability Targets
Building Our Sustainability Targets Joined Formed 2023 the UN Global Sustainability Sustainability Compact Working Teams Report Environment Social Governance Related SDGs • Monitoring environmental impact and • Equality and inclusivity-focused • Corporate governance structure in taking actions to re
Slide 26: Summary Financials: Q2'25
Summary Financials: Q2’25 (Audited) (Audited) TRY million Q2’25 Q2’24 YoY Revenue 16,743.8 13,657.3 22.6% Gross Contribution 6,335.40 5,467.9 15.9% Gross Contribution margin(1) 12.4% 12.0% 0.4pp Operating Expenses(2) (Opex) (16,709.7) (13,701.0) 22.0% Opex as a % of GMV (32.7%) (30.0%) (2.7pp) (Loss
Slide 27: Summary Financials: H1'25
Summary Financials: H1’25 (Audited) (Audited) TRY million H1’25 H1’24 YoY Revenue 31,994.9 30,214.5 5.9% Gross Contribution 11,977.5 11,037.0 8.5% Gross Contribution margin(1) 12.4% 11.2% 1.3pp Operating Expenses(2) (Opex) (32,542.4) (30,401.4) 7.0% Opex as a % of GMV (33.8%) (30.8%) (3.0pp) (Loss)/
Slide 28: Consolidated Statements of Comprehensive Income/(Loss)
Consolidated Statements of Comprehensive Income/(Loss) 28 (Amounts expressed in thousands of Turkish lira (TRY) in terms of the purchasing power of the TRY at 30 June 2025 unless otherwise indicated. Unaudited.)
Slide 29: Consolidated Statements of Balance Sheet
Consolidated Statements of Balance Sheet (Amounts expressed in thousands of Turkish lira (TRY) in terms of the purchasing power of the TRY at 30 June 2025 unless otherwise indicated. Unaudited.) Note: The consolidated financial statements include the accounts of the Company and its subsidiaries. All
Slide 30: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows (Amounts expressed in thousands of Turkish lira (TRY) in terms of the purchasing power of the TRY at 30 June 2025 unless otherwise indicated. Unaudited.) Note: The consolidated financial statements include the accounts of the Company and its subsidiaries. All pe
Slide 31: Non-IFRS Metrics Reconciliation (I/IV)
Non-IFRS Metrics Reconciliation (I/IV) EBITDA Amounts expressed in millions of Turkish lira (TRY) in terms of the purchasing power of the TRY at 30 June 2025. Unaudited. 31
Slide 32: Non-IFRS Metrics Reconciliation (II/IV)
Non-IFRS Metrics Reconciliation (II/IV) IAS 29-Unadjusted EBITDA Amounts expressed in millions of Turkish lira (TRY); IFRS figures (adjusted for IAS 29) in terms of the purchasing power of the TRY at 30 June 2025. Unaudited. For additional details on the use of non-IFRS financial measures and a reco
Slide 33: Non-IFRS Metrics Reconciliation (III/IV)
Non-IFRS Metrics Reconciliation (III/IV) REVENUES GROSS CONTRIBUTION Amounts expressed in millions of Turkish lira (TRY) in terms of the purchasing power of the TRY at 30 June 2025. Unaudited. For additional details on the use of non-IFRS financial measures and a reconciliation to IFRS, please refer
Slide 34: Non-IFRS Metrics Reconciliation (IV/IV)
Non-IFRS Metrics Reconciliation (IV/IV) Free Cash Flow Net Working Capital Amounts expressed in millions of Turkish lira (TRY) in terms of the purchasing power of the TRY at 30 June 2025. Unaudited. For additional details on the use of non-IFRS financial measures and a reconciliation to IFRS, please
Slide 35: Certain Definitions
Certain Definitions We provide a number of key operating performance indicators used by our management and often used by competitors in our industry. We define certain terms used in this press release as follows: •GMV as gross merchandise value which refers to the total value of orders/products sold
Slide 36: Investor relations contact
For further information, please e-mail IR@hepsiburada.com or contact Hepsiburada IR at +90 212 705 7222