Turkish e-commerce platform D-MARKET Q2 revenue rises 22.6%

D-Market Elektronik Hizmetler ve Ticaret

31/07/2025 14:20

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/Miss
Actual
Consensus Estimate
Q2 Revenue
TRY 16.74 bln
Q2 Net Income
-TRY 723.80 mln
Q2 EBITDA
TRY 739.50 mln
Q2 Free Cash Flow
TRY 3.41 bln
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 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.)