D-Market Elektronik Hizmetler ve Ticaret A.S. (NASDAQ:HEPS) Q3 2023 Earnings Conference Call December 5, 2023 8:00 AM ET

Company Participants

Helin Celikbilek - Investor Relations Director

Nilhan Onal Gökçetekin - Chief Executive Officer

Seçkin Köseoglu - Vice President of Strategic Finance

Conference Call Participants

Kilickiran Hanzade - JPMorgan

Operator

Ladies and gentlemen, thank you for standing by. I am Mina, your Chorus Call operator. Welcome, and thank you for joining the Hepsiburada Conference Call and Live Webcast to present and discuss the Third Quarter 2023 Financial Results. All participants will be in a listen-only mode, and the conference is being recorded. The presentation will be followed by a question-and-answer session. [Operator Instructions]

At this time, I would like to turn the conference over to Mrs. Nilhan Onal Gökçetekin, CEO; Mr. Seçkin Köseoglu, Vice President of Strategic Finance; and Mrs. Helin Celikbilek, Investor Relations Director.

Mrs. Celikbilek, you may now proceed.

Helin Celikbilek

Thanks, operator. Thank you for joining us today for Hepsiburada's third quarter 2023 earnings call.

I'm pleased to be joined on the call today by our CEO, Nilhan Onal Gökçetekin, and our Vice President of Strategic Finance, Seçkin Köseoglu.

The following discussion, including responses to your questions, reflects management's views as of today's date only. We undertake no obligation to update or revise this information except as required by law.

Certain statements made on today's call are forward-looking statements and actual results may differ materially from these forward-looking statements. Please refer to today's earnings release as well as the risk factors described in the Safe Harbor slide of today's supplemental slide deck, today's press release, the 6-K, our Form 20-F filed with the SEC on May 1, 2023, and other SEC filings for information on factors that could cause our results to differ materially from these forward-looking statements.

Also, we will reference certain non-IFRS measures during today's call. Please refer to the appendix of our supplemental slide deck as well as today's press release for a presentation of the most directly comparable IFRS measures and the relevant IFRS to non-IFRS reconciliation.

As a reminder, a replay of this call will be available on our Investor Relations website.

And with that, I will hand it over to our CEO, Nihan.

Nilhan Onal Gökçetekin

Thank you, Helin. Welcome everyone, and thank you for joining us. I'm pleased to be with you today and to present our quarterly progress.

In Q3, amidst continued challenging macroeconomic environment where yearly inflation scaled to 61.5%, we delivered a robust financial performance. Our GMV more than doubled by 126% growth year-on-year. Adjusted for inflation, our GMV growth remained solid at 45% year-on-year.