Ladies and gentlemen, thank you for standing by. I am Geli, your Chorus Call operator. Welcome, and thank you for joining the Hepsiburada Conference Call and Live Webcast to present and discuss the Second Quarter 2023 Financial Results. [Operator Instructions] At this time, I would like to turn the conference over to Ms. Nilhan Gökçetekin, CEO; Mr. Korhan Öz, CFO; and Ms. Helin Celikbilek, Investor Relations Director. Ms. Helin Celikbilek, you may now proceed.

Thanks, operator. Thank you for joining us today for Hepsiburada's second quarter 2023 earnings call. I'm pleased to be joined on the call today by our CEO, Nilhan Onal Gökçetekin; and our CFO, Korhan Öz. The following discussion, including responses to your questions, reflects management's views as of today's date only. We undertake no obligation to update or revise this information except as required by law. Certain statements made on today's call are forward-looking statements, and actual results may differ materially from these forward-looking statements. Please refer to today's earnings release as well as the risk factors described in the safe harbor slide of today's supplemental slide deck, today's press release, the 6-K, our Form 20-F filed with the SEC on May 1, 2023 and other SEC filings for information on factors that could cause our actual results to differ materially from these forward-looking statements. Also, we will reference certain non-IFRS measures during today's call. Please refer to the appendix of our supplemental slide deck as well as today's press release for a presentation of the most directly comparable IFRS measure and the relevant IFRS to non-IFRS conciliation. As a reminder, a replay of this call will be available on our Investor Relations website. With that, I will hand it over to our CEO, Nilhan. Nilhan Onal Gökçetekin: Thank you, Helin. Welcome, everyone, and thank you so much for joining us. I'm really pleased to be with you today and to present our quarterly progress. In a quarter of continued tough macroeconomic conditions and uncertainties throughout the election process, we doubled our GMV year-over-year and improved our profitability margin. Our robust performance exceeded our quarterly guidance, thanks to our operational agility. It's figuring 27.5 million orders on a 94.6% rise over Q2 '22 resulted in strong GMV growth. This was…

[Operator Instructions] The first question comes from the line of Kilickiran Hanzade with JPMorgan. Please go ahead.

Hello. Thank you very much for the presentation and congratulations for a strong numbers. I want to follow-up with your guidance for the third quarter. It is a very strong growth as expected inflation, I think it is around 65%. So I'm trying to understand the drivers behind this accelerated GMV guidance for the third quarter? And also, are you seeing - I mean, substantial increase in the share of non-electronics in the GMV mix also in the third quarter? Second question, we really appreciate if you can comment around the competitive environment in the third quarter, particularly from the perspective of the discounts in the market. And finally, on the numbers, how would you guide the working capital progress for the third quarter after the buildup of inventory in the second quarter? Thank you very much. Nilhan Gökçetekin: Thank you so much, Hanzade. Let me answer the first three, and I'll let Korhan to give some color for our working capital expectations for third quarter. So in terms of guidance, we are expecting our growth momentum to continue to accelerate behind our fourth strategy. The number one is Hepsiburada Premium Program. This program has been quite strong as we celebrated its first anniversary. The more we build members to the program, the more we have frequency increase, and it will accelerate momentum in Q3, that's number one. The second is the need for affordability solution. As the inflation and macroeconomic context evolves partly inflation triggers consumption, but partly, it also has an impact on the need for more affordability solution. So we also believe that we have a strategic advantage with a variety of solutions we provide for the consumer. I also believe that our B2B business, which is the bigger one being HepsiJet and fintech in development is…

Thanks very much. I want to make a follow-up on the competition side. So the market is still very competitive, but does it put some sort of pressure on your commission rates in the third quarter because we observed substantial improvement on the growth contribution. I just wonder if this will continue in the third quarter? Nilhan Gökçetekin: Our expectation, Hanzade, seeing the trends in Turkey as well, I think our plan is so strong. That's why we are gaining still strong guidance on EBITDA, which is between 0.1% to 1%. We don't have further expectations beyond what is happening today. And I feel comfortable in the guidance we have given.

Okay. Thank you very much. Nilhan Gökçetekin: Thank you.

[Operator Instructions] Ladies and gentlemen, there are no further questions at this time. The conference has now concluded, and you may disconnect your telephone. Thank you for calling, and have a good afternoon.