Hepsiburada announced its first-quarter financial results for 2025 on May 8, 2025, reporting a 7.9% decrease in revenue to TRY 14,386.9 million compared to Q1 2024. The company stated that its topline results were notably impacted by politically driven consumption boycotts and a decelerating market due to counter-inflationary policies and declining consumer purchasing power. This led to a 14.9% decrease in 1P revenue and a 13.2% decrease in 3P revenue.
Despite these challenges, the gross contribution margin improved by 2.0 percentage points to 12.5% year-over-year. However, EBITDA decreased by 72.8% to TRY 108.8 million, resulting in a 0.3% EBITDA as a percentage of GMV, a 0.5 percentage point decline. Net loss for the period increased to TRY 355.1 million from TRY 180.5 million in Q1 2024, partly due to loan loss provisions amounting to TRY 148 million, up from TRY 41 million in Q1 2024.
Free Cash Flow saw a significant decrease, moving to an outflow of TRY 931.8 million from an inflow of TRY 1,421.9 million in Q1 2024. Operationally, HepsiJet expanded its share of external customer deliveries, growing its volume from 33% to 40% of total parcels delivered. The "Technology Empowerment for Women Entrepreneurs" program continued its support, reaching approximately 63 thousand women entrepreneurs.
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