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| Statement |
|---|
| Our preliminary results indicates that this year we delevered yet a another very strong performance in November |
| Quarter three was the third consecutive quarter of positive EBITDA unadjusted for inflation |
| The quarterly performance validates our commitment to sustainable growth and positions us favorably to achieve a positive full-year '23 EBITDA on an unadjusted basis |
| You have a very strong, I mean, robust improvement here |
| Adjusted for inflation, our GMV growth remained solid at 45% year-on-year |
| The operational agility, afforded by our strategy, led to an outstanding performance that exceeded expectations |
| It was up 55% year-on-year, confirming a continuous demand for our differentiated services |
| Revenue growth of around 52% was achieved mainly by a 50% rise in retail revenue and 61% growth in marketplace revenue |
| The program continues to play a pivotal role in elevating our order frequency and improving our customer retention |
| Overall, I am very pleased to demonstrate sustainable growth and improved profitability |
| Strong order growth coupled with faster than inflation rise in the average order value and a strong e-commerce market growth in July on the back of a VAT rise resulted in a 126% GMV growth |
| Despite the prevailing macroeconomic challenges, I am pleased to say that we continued our uptrend across all metrics during the third quarter |
| This performance was a result of our solid strategy that boosted loyalty to our platform |
| Together with strong top-line growth, our focus on costs and marketing spend optimization enabled us to deliver positive EBITDA for yet another quarter |
| So, with another robust Legendary November behind us, we expect to deliver a solid and profitable growth also in fourth quarter |
| This doubling of the upper-end of our EBITDA guidance clearly highlights our operational efficiency |
| In Q3, amidst continued challenging macroeconomic environment where yearly inflation scaled to 61.5%, we delivered a robust financial performance |
| One of them is our base in Q4 '22 was extremely strong |
| While we continue our growth in non-electronics, during this quarter, we also leveraged our strong 1P model to meet the demand in the electronics market |
| Yet, excluding these orders, our order growth was still strong at around 18% |
| We deliver a higher sales volume during the fourth quarter of the year |
| Could you please speak a bit about any targets for the program? Is there a target number of members? Is this program breakeven yet on a consolidated basis?" Nilhan Onal Gökçetekin In terms of Hepsiburada Premium program, obviously, we are quite bullish about creating a great, amazing program that will be sticky for our consumers |
| We have built a very strong initiative pipeline for '24 and also upcoming years in-line with the presentation we have done, that is including Hepsi advertising platform, that's including non-electronics in our mix, that is including incremental margin from our services and B2B revenues that will continue to enhance our margin situation |
| In Q3, we delivered a strong top-line growth and EBITDA through diligent cost management, exceeding our guidance |
| Our IAS 29-unadjusted GMV growth marked the highest quarterly growth since our IPO |
| This is confirming our ability to generate B2B revenues of platform and clearly showcases HepsiJet's strong momentum as an appealing logistic partner |
| We continue to expand our external customer base, adding other retailers and doubling our customer count and doubling our volume year-on-year |
| The positive [indiscernible] clearly demonstrates the effectiveness of our strategy, confirming our core strength and our diligent cost management |
| So, I would say we invented Legendary November seven years ago and since then we have been getting stronger and stronger in our execution |
| First, our Hepsiburada Premium program is a key loyalty driver and continues to gain momentum and exceeded 2 million members by end of November |
| Statement |
|---|
| We believe this initiative addresses the primary concerns of Turkish e-commerce consumers while underscoring our commitment to meet their expectations |
| And lastly, with the rising interest rates, we are expecting also some minor impact to the demand in Turkish markets |
| Kilickiran Hanzade Nilhan and Seçkin, apologies, I had a technical issue |
| The first webcast question is from Maxim Nekrasov with Citi, and I quote, "What drives growth deceleration in Q4 2023 compared to third quarter 2023?" Thank you |
| And -- or otherwise, have you observed some structural changes in your business like a higher share of clothing category or better take rates that may continue to support the margins going forward? And the second question is, is it possible to provide some sort of update on the recent competition authority investigation? What it is about? And do you expect some negative results from this investigation? Thank you |
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