D-Market Elektronik Hizmetler ve Ticaret A.S. Earnings Call Transcripts
Fiscal Year 2024
-
Delivered 12.1% real GMV growth and improved gross contribution margin by 2.1 points in 2024, with EBITDA as a percentage of GMV rising to 1.1%. Early 2025 saw macroeconomic headwinds and a major ownership change as Kaspi acquired a controlling stake.
-
Achieved first-ever quarterly positive operating income since IPO, with strong GMV and margin growth despite macroeconomic challenges. Marketplace and fintech segments drove performance, and the Kaspi acquisition is expected to accelerate future growth.
-
Q2 and H1 2024 saw strong GMV and EBITDA growth, with record first half free cash flow and margin expansion. Marketplace and non-electronics segments grew, while strategic initiatives in loyalty, logistics, and payments drove performance. Guidance anticipates robust Q3 growth and continued profitability improvements.
-
Q1 2024 saw robust GMV and EBITDA growth, exceeding guidance, with strong margin and cash flow improvements. The company maintained market leadership, expanded its customer base, and expects continued growth despite macroeconomic and regulatory challenges.