D-Market Elektronik Hizmetler ve Ticaret A.S. Q4 FY2024 earnings call

• Focused on three strategic priorities: customer loyalty, developing HepsiJet and Hepsipay, and expanding B2B services. - The Hepsiburada Premium loyalty program had a member base of 3.7 million, with expanded offerings after partnering with Warner Bros. Discovery in 2024. - HepsiJet delivered 72% of total parcels dispatched in 2024, and its off-platform volume increased by 8%-9% year-on-year, with off-platform share rising by 9.7% year-on-year to nearly 34.6% of total volume. - Total landing volume in the last 12 months was 16.2 billion lira, 2.6 times that of 2023, with BNPL consumer finance loans and shopping loans utilized in over 3.3 million orders since launch. - Hepsipay's one-click checkout solution Pay with Hepsipay was integrated with 140 key accounts by the end of 2024.

In 2024, Hepsiburada achieved a real GMV growth of 12.1%. The gross contribution margin stood at 11.3%, marking a 2.1 percentage point improvement year-on-year. The EBITDA as a percentage of GMV reached 1.1%, with a 0.7 percentage point increase compared to the previous year. On an unadjusted inflation basis, GMV grew by 74% year-on-year, and the EBITDA percentage of GMV was 2.1%. Active customers increased by 235,000 to reach 12.2 million. Orders saw a 16 percentage points year-on-year growth, amounting to 131.4 million orders, and the order frequency over the last 12 months was 10.8, up by 14%. The active merchant base was over 100,000.

• Unadjusted for inflation basis, GMV grew by 49.4%, which was close to the guidance range of 50% to 55%. - EBITDA as a percentage of GMV reached 1.8%, in line with the guidance range of 1.8% to 2% for the fourth quarter.

• Start of 2025 was challenging due to ongoing macroeconomic headwinds that pressured consumer purchasing power. - Boycotts against shopping began in March. - Marketing activities were limited in Q1 due to political sensitivity and the level of boycotts.

Q: None A: None