Hepsiburada reported Q4 2025 revenue of TRY 28.0 billion (+17.8%) and GMV of TRY 85.3 billion (+10.5%), with orders at 28.3 million (+17.6%). Q4 free cash flow rose to TRY 3.5 billion (+79.3%), while EBITDA fell to TRY 1.1 million from TRY 935.8 million and net loss widened to TRY 3.1 billion. For FY 2025, revenue was TRY 84.7 billion (+13.4%) and GMV was TRY 257.5 billion (+4.3%), with orders reaching 87.5 million (+9.5%). FY free cash flow increased to TRY 8.9 billion (+83.2%), EBITDA declined to TRY 1.1 billion (-57.8%), and net loss was TRY 5.7 billion. Management said Q4 performance benefited from its November Legendary Friday campaign, while the sharp EBITDA decline and higher net loss were primarily driven by investments in growth initiatives including faster and lower-cost delivery for merchants, performance marketing, and installment-payment investments amid higher credit card installment costs. The company also said it plans to report key operating metrics solely under controlling shareholder Kaspi.kz’s definitions starting in Q1 2026.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. D-Market Elektronik Hizmetler ve Ticaret AS published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-26-020503), on February 26, 2026, and is solely responsible for the information contained therein.
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