Hepsiburada’s sales volume grows 126 percent in third quarter

ISTANBUL

Türkiye’s leading e-commerce platform, Hepsiburada, has reported an annual increase of 126 percent in unadjusted gross merchandise value (GMV) in the third quarter to 24.3 billion Turkish Liras ($893 million).

GMV rose by 45.1 percent from a year ago to 25.7 billion liras, while its revenue was up 52 percent to 8.1 billion liras.

“We are pleased to announce another robust quarterly performance, building on our strategic priorities,” commented Nilhan Onal Gökçetekin, its CEO.

The growth is attributed to its strong customer base and heightened order frequency, she said.

“During the third quarter, we generated 27 million orders, which meant a 55 percent year-on-year increase. This growth was fueled by Hepsiburada Premium members, exceeding 2 million members in November.”

The results have exceeded both the company’s quarterly GMV growth and EBITDA guidance and take it one step closer to a positive full-year EBITDA, unadjusted for inflation, Gökçetekin said.

“With another robust ‘Legendary November’ behind us, we expect to deliver solid and profitable growth in the fourth quarter also.”

Hepsiburada’s active customers increased to 12 million compared to 11.8 million as of September 2022, the company said in a statement.

Active Merchant base increased by 7.2 percent to 101,000 compared to 94,300 as of September last year.

The number of SKUs rose by 45.2 percent from a year ago to 210.6 million.

The share of marketplace GMV was 65.5 percent compared to 68.2 percent in the third quarter of 2022, the company said.

Its EBITDA was 87.9 million liras, while the net loss for the period was 191 million liras compared to a net loss of 923 million in the third quarter of 2022.