Overview

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

• 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

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 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: ID:nGNX58FL92

(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.)