Hepsiburada Announces Second Quarter 2024 Financial Results
D-MARKET Electronic Services & Trading (Hepsiburada), a prominent Turkish e-commerce platform listed on NASDAQ, has released its unaudited financial results for the second quarter and the six months ending on June 30, 2024. The company follows International Financial Reporting Standards (IFRS) and has been applying IAS 29, which pertains to financial reporting in hyperinflationary economies, to its financial statements since June 30, 2022. IAS 29 mandates that financial statements of entities operating in hyperinflationary economies, like Turkey, must be adjusted for the effects of changes in a general price index. This restatement ensures that the financial information accurately reflects the economic reality in a hyperinflationary environment. The unaudited financial results for the second quarter and the six-month period ending on June 30, 2024, provide insights into Hepsiburada s financial performance and position during this period. The restatement of financial information under IAS 29 is crucial for investors and stakeholders to understand the company s financial health and make informed decisions. In summary, Hepsiburada, a leading Turkish e-commerce platform, has announced its unaudited financial results for the second quarter and the six months ending June 30, 2024. The company adheres to IAS 29, which requires adjustments for hyperinflationary economies, ensuring accurate representation of its financial position and performance.
Source: wallstreet-online.dePublished on 2024-09-11
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