Overview

* D-MARKET, which does business as Hepsiburada, reported Q2 revenue at 16,743.8 mln lira (TRY)

* Company reports Q2 net loss of TRY 723.8 mln, up from last year

* EBITDA grows 41.6% to TRY 739.5 mln, reflecting operational improvements

Outlook

* Hepsiburada aims to drive sustainable growth and improve margins

* Company remains focused on strengthening business fundamentals

Result Drivers

* REVENUE GROWTH - Revenue increased by 22.6% driven by a 25.2% rise in direct sales and 24.9% increase in delivery service revenue

* CONSUMER DEMAND RECOVERY - Gradual recovery in consumer demand contributed to 11.9% GMV growth

* HIGHER EXPENSES - Net loss impacted by increased provision expenses and financial costs

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 TRY

Revenue 16.74

bln

Q2 Net -TRY

Income 723.80

mln

Q2 TRY

EBITDA 739.50

mln

Q2 Free TRY 3.41

Cash bln

Flow

Q2 GMV TRY

51.10

bln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the department stores peer group is "buy"

* Wall Street's median 12-month price target for D Market Elektronik Hizmetler ve Ticaret AS ( HEPS ) is $3.80, about 33.9% above its July 30 closing price of $2.51

* The stock recently traded at 34 times the next 12-month earnings vs. a P/E of 36 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)