Hepsiburada announced its financial results for the fourth quarter and full year ended December 31, 2024, on April 30, 2025. For the full year 2024, the company delivered a real Gross Merchandise Value (GMV) growth of 12.1%, with an unadjusted GMV growth of 74% year-on-year. The gross contribution margin improved by 2.1 percentage points to 11.3% compared to 2023.
EBITDA as a percentage of GMV expanded to 1.1% for the full year, a 0.7 percentage point rise year-on-year, reaching 2.1% on an unadjusted inflation basis. The company also reported TRY 3.7 billion in free cash flow for the full year 2024. For the fourth quarter of 2024, unadjusted GMV growth was within the range of 50% to 55% compared to Q4 2023, and unadjusted EBITDA as a percentage of GMV was between 1.8% and 2.0%.
Concurrently, Hepsiburada filed its annual report on Form 20-F for the fiscal year ended December 31, 2024, with the Securities and Exchange Commission. This filing provides comprehensive audited consolidated financial statements and other disclosures for the past fiscal year, reflecting the company's diligent execution of its profitable growth strategy despite macroeconomic challenges.
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