share_log

D-Market Electronic Reported Q1 GMV Growth of 42.5% YoY to TRY 36.3B, Number of Orders Grew by 21.7% YoY to 29.3M, Active Customers Rose by 1.4% YoY to 12.1M

Benzinga ·  Jun 13 19:10

First Quarter 2024 Financial and Operational Highlights

(All financial figures are restated pursuant to IAS 29 unless otherwise indicated)

  • Gross merchandise value (GMV) increased by 42.5% to TRY 36.3 billion compared to TRY 25.5 billion in Q1 2023.
    • IAS 29-Unadjusted GMV increased by 137.8% to TRY 35.2 billion compared to Q1 2023.
  • Revenue increased by 45.0% to TRY 11,309.6 million compared to TRY 7,800.5 million in Q1 2023.
  • Number of orders increased by 21.7% to 29.3 million compared to 24.1 million orders in Q1 2023.
  • Active Customers increased by 1.4% to 12.1 million compared to 11.9 million as of March 31, 2023.
  • (Order) Frequency increased by 30.3% to 9.8 compared to 7.5 as of March 31, 2023.
  • Active Merchant base increased by 1.2% to 101.9 thousand compared to 100.7 thousand as of March 31, 2023.
  • Number of SKUs increased by 37.9% to 248.2 million compared to 180.0 million as of March 31, 2023.
  • Share of Marketplace GMV was 68.4% compared to 68.2% in Q1 2023.
  • EBITDA improved to TRY 289.4 million compared to TRY 12.2 million in Q1 2023. Accordingly, EBITDA as a percentage of GMV was at 0.8%, a 0.7 percentage point improvement compared to 0.05% in Q1 2023.
    • IAS 29-Unadjusted EBITDA improved to TRY 835.3 million compared to TRY 175.9 million in Q1 2023. IAS 29-Unadjusted EBITDA as a percentage of GMV in Q1 2024 improved by 1.2 percentage points to 2.4% compared to 1.2% in Q1 2023.
  • Net loss for the period was TRY 130.7 million compared to a net loss of TRY 324.9 million for Q1 2023.
  • Free cash flow was positive TRY 1,029.6 million compared to negative TRY 259.3 million in Q1 2023.
The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment