D-Market Electronic Services & Trading American Depositary Shares - HEPS STOCK NEWS

D-MARKET Electronic Services & Trading, operating as Hepsiburada (NASDAQ: HEPS), announced changes to its Board of Directors and executive management on January 2, 2023. Dr. Stefan Gross-Selbeck was appointed as an independent board member following Cemal Ahmet Bozer's resignation due to term limits. Nilhan Gökçetekin remains CEO, while Mr. Emirdağ continues as a board director. The Chief Information and Technology Officer roles have been merged, and the Chief People & Culture Officer now oversees customer experience. Hepsiburada serves over 50 million members with a diverse product offering.

D-MARKET Electronic Services & Trading, operating as Hepsiburada (NASDAQ: HEPS), announced the appointment of Nilhan Onal Gökçetekin as the new CEO effective January 1, 2023. With over 25 years of experience in sectors including retail and e-commerce, she previously worked at Amazon Europe, focusing on business growth.

Gökçetekin aims to enhance Hepsiburada's position in Türkiye's e-commerce market by prioritizing digitalization, brand trust, and sustainable growth.

D-MARKET Electronic Services & Trading, operating as Hepsiburada, released its Q3 2022 financial results, indicating a 6.9% revenue increase to TRY 3,281.2 million. However, the gross merchandise value (GMV) fell by 8.5% to TRY 11 billion. The company reported an improved EBITDA loss of TRY 638.1 million, down 48.8% year-over-year. Active customers rose to 11.8 million, marking an 11% increase. Positive cash flow of TRY 331.1 million was achieved, in contrast to significant losses in the same quarter last year. Full-year GMV growth guidance was revised upward to 70%, reflecting optimism amid ongoing macroeconomic challenges.

D-MARKET Electronic Services & Trading, operating as Hepsiburada (NASDAQ: HEPS), announced that its fintech solution, Hepsipay, has reached 10 million users as of November 2022. Hepsipay enhances online shopping by offering fast, safe payment options and features like one-click purchases, instant refunds, and bank transfers without card use. It also introduced Türkiye's first 'Buy Now, Pay Later' service, allowing customers to pay in installments. Hepsiburada connects over 45 million members with over 130 million SKUs across 30 categories, reinforcing its role as a leading e-commerce platform in Türkiye.

Hepsiburada (NASDAQ: HEPS) received a notice from Nasdaq indicating its American depositary shares (ADSs) closed below the minimum bid price of $1.00, as required for continued listing. This notification, received on November 3, 2022, is not an immediate delisting warning, and the company has until May 2, 2023, to regain compliance by maintaining the required bid price for 10 consecutive business days. Hepsiburada's operations remain unaffected as they explore necessary measures for compliance.

Hepsiburada (NASDAQ: HEPS) reported its Q2 2022 unaudited financial results, revealing a 9.7% decline in Gross Merchandise Value (GMV) to TRY 9.6 billion. Revenue fell by 6.2% year-over-year to TRY 2,985.2 million. However, the number of orders rose 8.0% to 14.1 million, and active customers increased 17.5% to 11.7 million. The company faced a net loss of TRY 566.3 million, up from TRY 484.1 million in Q2 2021. Despite inflationary pressures, Hepsiburada's CEO highlighted strong order growth and a focus on maintaining market leadership.

Hepsiburada (NASDAQ: HEPS), a leading Turkish e-commerce platform, has launched a new contemporary art category named SanatBurada on September 21, 2022. This platform will connect customers with galleries and artists, allowing for the online listing and purchase of art, thus democratizing access to art in Türkiye. The launch features 157 artworks from 27 emerging artists, curated by Mehmet Sinan Kuran. SanatBurada aims to promote young artists while enhancing customer engagement through innovative features like 3D display and augmented reality.

D-MARKET Electronic Services & Trading, operating as Hepsiburada (NASDAQ: HEPS), will release its second quarter financial results for the period ending June 30, 2022, before the U.S. market opens on September 28, 2022. The company will host a conference call and live webcast for analysts and investors on the same day at 16:00 Istanbul time. Hepsiburada is a prominent Turkish e-commerce platform providing a range of services including same-day grocery delivery and an embedded digital wallet, Hepsipay, connecting 44.2 million members with 82.9 thousand Active Merchants.

Hepsiburada has launched its innovative Hepsiburada Smart store in Istanbul, utilizing artificial intelligence and digital sensors for a seamless shopping experience. Supported by approximately 2.2 million euros from the European Commission under Horizon 2020, this pick and go concept enables customers to select products without traditional checkout processes. The technology allows for lower operational costs compared to global competitors. The store is set to open in January 2023.