Ebebek's Q3 2024 Financial Results Announced

Ebebek, the leading brand in the mother-baby products sector, shared its third quarter financial results with the public. 

According to a disclosure made to the Public Disclosure Platform (KAP), following the application of inflation accounting, ebebek increased its revenue by 11% compared to the third quarter of 2023, reaching TRY 4.3 billion, and closed the first nine months of the year with TRY 184 million net profit. Opening 8 new stores, including 3 mini stores, in the third quarter, ebebek reached a total of 257 stores and welcomed 37 million customers at its stores over nine months, while its website received 97 million visitors. Furthermore, consolidated EBITDA in the third quarter was recorded at TRY 814 million. 

Ebebek shared its 2024 third quarter financial results through a disclosure to the Public Disclosure Platform (KAP). According to the disclosure, the company closed the first nine months of 2024 with TRY 12.7 billion in revenue. Ebebek's nine-month net profit was TRY 184 million, while its EBITDA showed a 181% increase compared to the same period in 2023, reaching TRY 1.5 billion. Reaching 257 stores and increasing visitor numbers to 37 million in 2024, ebebek also welcomed approximately 97 million visitors on its website. In line with rising visitor numbers, ebebek increased the total number of products sold from approximately 61 million in the first nine months of 2023 to 68 million in the same period of 2024.

Strategic steps to close the year successfully

Halil Erdoğmuş, Group Chief Executive Officer of Ebebek Mağazacılık A.Ş., provided the following information on the matter: "By maintaining the store expansion pace we demonstrated in the first half of 2024, we have increased our store count to 257 as of the end of the third quarter of 2024. In the third quarter of 2024, visitor numbers at our stores reached 12.3 million, while our ebebek.com website welcomed a total of 31.9 million visitors. During the same period, the number of products sold showed a 9% increase compared to the third quarter of 2023, reaching 22.7 million. According to our financial statements prior to inflation accounting, our revenue in the third quarter of 2024 increased by 72% compared to the same period of 2023, while our EBITDA increased by 95%. In our financial statements prepared under inflation accounting practices, our revenue increased by 11% during the same period, while our EBITDA increased approximately ninefold. For the remainder of the year, we will continue to pursue our growth in the domestic market while continuing our efforts for international expansion. With respect to our store expansion strategy in the United Kingdom market, we have previously announced that we signed lease agreements for 3 stores that we aim to open in London in the first quarter of 2025, and that we have begun feasibility studies to open stores in the cities of Erbil, Sulaymaniyah and Duhok in Northern Iraq. As we enter the final quarter of the year, I believe we will close 2024 with successful results by maintaining the success we have demonstrated over nine months."