{"id":1026,"date":"2026-02-10T13:54:01","date_gmt":"2026-02-10T10:54:01","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=1026"},"modified":"2026-02-10T13:55:21","modified_gmt":"2026-02-10T10:55:21","slug":"%f0%9f%94%b4%f0%9f%87%b9%f0%9f%87%b7-froto-ford-otomotiv-2025-12-bilanco-analizi-ford-otosan-2025-kar-dustu-kasa-doldu","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/1026","title":{"rendered":"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #FROTO | Ford Otomotiv 2025\/12 Bilan\u00e7o Analizi &#8211; Ford Otosan 2025 K\u00e2r D\u00fc\u015ft\u00fc Kasa Doldu"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/creators.spotify.com\/pod\/profile\/market-risk-tr\/embed\/episodes\/FROTO--Ford-Otomotiv-202512-Bilano-Analizi---Ford-Otosan-2025-Kr-Dt-Kasa-Doldu-e3esu8m\/a-acfd9k2\" height=\"102px\" width=\"400px\" frameborder=\"0\" scrolling=\"no\"><\/iframe><br \/>\n<span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>2025 Finansal Raporlar\u0131ndan \u00d6nemli Ba\u015fl\u0131klar<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\">\u2022 <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>Toplam Has\u0131lat:<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> \u015eirketin toplam gelirleri 2024 y\u0131l\u0131na g\u00f6re %7 art\u0131\u015f g\u00f6stererek <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>830,8 milyar TL<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> seviyesine ula\u015fm\u0131\u015ft\u0131r.\u2022 <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>\u0130hracat Performans\u0131:<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> Yurt d\u0131\u015f\u0131 sat\u0131\u015f gelirleri %10 art\u0131\u015fla <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>660,2 milyar TL<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> olarak ger\u00e7ekle\u015fmi\u015f ve toplam gelirlerin <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>%79&#8217;unu<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> olu\u015fturmu\u015ftur.\u2022 <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>Net D\u00f6nem Kar\u0131:<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> Enflasyon muhasebesi etkileri ve artan finansman giderleri neticesinde net kar, bir \u00f6nceki y\u0131la g\u00f6re %33 azalarak <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>33,98 milyar TL<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\">&#8216;ye gerilemi\u015ftir.\u2022 <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>D\u00fczeltilmi\u015f FAV\u00d6K:<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> \u015eirketin D\u00fczeltilmi\u015f FAV\u00d6K rakam\u0131 %19 art\u0131\u015fla <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>66,6 milyar TL<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\">&#8216;ye \u00e7\u0131karken, FAV\u00d6K marj\u0131 %7,2&#8217;den <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>%8,0<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\">&#8216;e y\u00fckselmi\u015ftir.\u2022 <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>Sat\u0131\u015f Adetleri:<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> Toplam toptan sat\u0131\u015f adedi %10 art\u0131\u015fla <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>724.497<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> adede ula\u015fm\u0131\u015ft\u0131r.\u2022 <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>Enflasyon Muhasebesi:<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> Finansal tablolar, y\u00fcksek enflasyonun etkilerini yans\u0131tmak amac\u0131yla <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>TMS 29<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> standartlar\u0131na uygun olarak d\u00fczeltilmi\u015f ve 31 Aral\u0131k 2025 tarihindeki sat\u0131n alma g\u00fcc\u00fc cinsinden sunulmu\u015ftur.\u2022 <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>Yat\u0131r\u0131m Te\u015fvikleri:<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> \u015eirket, yat\u0131r\u0131m te\u015fvik belgeleri kapsam\u0131nda <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>36,8 milyar TL<\/strong><\/span><\/span><span data-slate-node=\"text\" data-slate-fragment=\"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\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> tutar\u0131nda ertelenmi\u015f vergi varl\u0131\u011f\u0131 aktifle\u015ftirmi\u015ftir. <\/span><\/span><\/p>\n<h1>830,8 Milyar TL Ciro ve Karl\u0131l\u0131k S\u0131k\u0131\u015fmas\u0131: Ford Otosan\u2019\u0131n 2025 Finansal Anatomisinden 5 Kritik \u00c7\u0131kar\u0131m<\/h1>\n<h3>1. Giri\u015f: Y\u00fcksek Bas\u0131n\u00e7 Alt\u0131nda Y\u00fcksek Performansl\u0131 Bir Motor<\/h3>\n<p>Ford Otosan, sadece T\u00fcrkiye\u2019nin sanayi devi de\u011fil, ayn\u0131 zamanda Ford\u2019un k\u00fcresel ekosistemindeki en kritik \u00fcretim ve m\u00fchendislik \u00fcslerinden biri. \u015eirketin 2025 y\u0131l\u0131 konsolide finansal raporlar\u0131n\u0131 incelemek, sadece rakamlar\u0131 alt alta toplamak de\u011fil; y\u00fcksek bas\u0131n\u00e7l\u0131 bir ekonomik ortamda \u00e7al\u0131\u015fan, son derece geli\u015fmi\u015f bir end\u00fcstriyel motorun &#8220;performans verilerini&#8221; analiz etmek gibidir. 830,8 Milyar TL\u2019lik devasa bir has\u0131lata ra\u011fmen, bu motorun hangi noktalarda zorland\u0131\u011f\u0131n\u0131 ve hangi rezervlerle yoluna devam etti\u011fini anlamak stratejik bir zorunluluktur.<\/p>\n<h3>2. Enflasyon Muhasebesi ve &#8220;K\u00e2r S\u0131k\u0131\u015fmas\u0131&#8221;<\/h3>\n<p>2025 y\u0131l\u0131 verileri, TMS 29 (Y\u00fcksek Enflasyonlu Ekonomilerde Finansal Raporlama) standard\u0131n\u0131n s\u00fczgecinden ge\u00e7ti\u011finde, kar\u015f\u0131m\u0131za g\u00f6r\u00fcnd\u00fc\u011f\u00fcnden daha karma\u015f\u0131k bir tablo \u00e7\u0131k\u0131yor. 31 Aral\u0131k 2024 verileri 1,30892 katsay\u0131s\u0131yla bug\u00fcne ta\u015f\u0131nsa da, operasyonel maliyetlerin h\u0131z\u0131 k\u00e2r\u0131 bask\u0131lam\u0131\u015f durumda.<\/p>\n<ul>\n<li><b>Net K\u00e2r Kayb\u0131:<\/b> \u015eirket 33,9 Milyar TL net d\u00f6nem k\u00e2r\u0131 a\u00e7\u0131klam\u0131\u015f olsa da, bu rakam 2024\u2019\u00fcn enflasyona g\u00f6re d\u00fczeltilmi\u015f 50,8 Milyar TL\u2019lik k\u00e2r\u0131na k\u0131yasla <b>reel olarak %33&#8217;l\u00fck bir daralmaya<\/b> i\u015faret ediyor.<\/li>\n<li><b>Parasal Pozisyon Analizi:<\/b> Analist g\u00f6z\u00fcyle bak\u0131ld\u0131\u011f\u0131nda, 15,8 Milyar TL\u2019lik &#8220;Net Parasal Pozisyon Kazanc\u0131&#8221; hayati \u00f6nemdedir. Bu rakam, \u015firketin enflasyonist ortamda bor\u00e7lu pozisyonunu do\u011fru y\u00f6neterek, bor\u00e7lar\u0131n\u0131n reel de\u011ferinin d\u00fc\u015fmesinden elde etti\u011fi bir &#8220;muhasebe k\u00e2r\u0131d\u0131r.&#8221;<\/li>\n<li><b>Has\u0131lat Art\u0131\u015f\u0131 vs. Karl\u0131l\u0131k:<\/b> 830,8 Milyar TL\u2019lik ciro reel bir b\u00fcy\u00fcmeyi temsil etse de, pazarlama ve sat\u0131\u015f maliyetlerindeki art\u0131\u015f\u0131n k\u00e2r marjlar\u0131n\u0131 daraltt\u0131\u011f\u0131 g\u00f6r\u00fclmektedir.<\/li>\n<\/ul>\n<h3>3. Ekosisteme Endeksli Likidite: %84\u2019l\u00fck &#8220;Aile&#8221; Ba\u011fl\u0131l\u0131\u011f\u0131<\/h3>\n<p>Ba\u011f\u0131ms\u0131z denet\u00e7inin raporunda \u00f6zellikle &#8220;Dikkat \u00c7ekilen Husus&#8221; olarak belirtilen ili\u015fkili taraf sat\u0131\u015flar\u0131, Ford Otosan\u2019\u0131n hem en g\u00fc\u00e7l\u00fc kas\u0131 hem de en b\u00fcy\u00fck ba\u011f\u0131ml\u0131l\u0131\u011f\u0131d\u0131r. Ford Otosan Netherlands BV gibi holding yap\u0131lar\u0131 \u00fczerinden y\u00fcr\u00fct\u00fclen yurt d\u0131\u015f\u0131 operasyonlar, bu ba\u011f\u0131ml\u0131l\u0131\u011f\u0131n k\u00fcresel aya\u011f\u0131n\u0131 sa\u011flamla\u015ft\u0131r\u0131yor.<\/p>\n<p>&#8220;Grup\u2019un sat\u0131\u015flar\u0131n\u0131n %84\u2019\u00fcn\u00fc (31 Aral\u0131k 2024: %80), ili\u015fkili taraflara yapmakta oldu\u011funu ve alacaklar\u0131n\u0131n %66\u2019s\u0131n\u0131n (31 Aral\u0131k 2024: %65) ili\u015fkili taraflardan alacaklardan olu\u015ftu\u011funu a\u00e7\u0131klayan 27 no\u2019lu dipnota dikkat \u00e7ekeriz.&#8221;<\/p>\n<p><b>Stratejik Not:<\/b> Alacaklar\u0131n %66\u2019s\u0131n\u0131n Ford Motor Company ve Ko\u00e7 Grubu gibi ili\u015fkili taraflardan olmas\u0131, \u015firketin likidite ak\u0131\u015f\u0131n\u0131n tamamen bu ekosistemin sa\u011fl\u0131\u011f\u0131na endeksli oldu\u011funu kan\u0131tl\u0131yor. Bu, k\u00fcresel krizlerde bir g\u00fcvenlik a\u011f\u0131 sa\u011flasa da, operasyonel esnekli\u011fi k\u0131s\u0131tlayan bir fakt\u00f6rd\u00fcr.<\/p>\n<h3>4. Euro Bor\u00e7lar\u0131 ve \u00d6zkaynaklardaki %21\u2019lik Erozyon<\/h3>\n<p>Ford Otosan, 2031 y\u0131l\u0131na kadar s\u00fcren \u00fcretim anla\u015fmalar\u0131 \u00e7er\u00e7evesinde, yat\u0131r\u0131m i\u00e7in ald\u0131\u011f\u0131 Avro kredilerini ihracat gelirleriyle dengeleme (Nakit Ak\u0131\u015f Riskinden Korunma &#8211; Hedge) stratejisini izlemektedir. Ancak kur ve nakit ak\u0131\u015f\u0131 aras\u0131ndaki bu &#8220;hedge dans\u0131&#8221; bilan\u00e7oda a\u011f\u0131r bir fatura b\u0131rakm\u0131\u015ft\u0131r.<\/p>\n<p>\u00d6zkaynaklar alt\u0131nda s\u0131n\u0131fland\u0131r\u0131lan 32,9 Milyar TL\u2019lik &#8220;Nakit Ak\u0131\u015f Riskinden Korunma Kay\u0131plar\u0131&#8221;, \u015firketin toplam 156 Milyar TL\u2019lik <b>\u00f6zkaynaklar\u0131n\u0131n yakla\u015f\u0131k %21\u2019ini eritmi\u015f durumdad\u0131r.<\/b> Bu, nakit ak\u0131\u015f\u0131n\u0131 korumak ad\u0131na g\u00f6ze al\u0131nan devasa bir &#8220;ka\u011f\u0131t \u00fczerindeki kay\u0131pt\u0131r&#8221; ve yat\u0131r\u0131mc\u0131lar\u0131n \u00f6zkaynak kalitesini izlerken en \u00e7ok dikkat etmesi gereken noktad\u0131r.<\/p>\n<h3>5. K\u00e2r Kalitesindeki Kritik Soru \u0130\u015fareti: Ertelenmi\u015f Vergi Varl\u0131\u011f\u0131<\/h3>\n<p>Bilan\u00e7odaki en \u00e7arp\u0131c\u0131 kalemlerden biri, Yat\u0131r\u0131m Te\u015fvik Belgeleri kapsam\u0131nda aktifle\u015ftirilen 36,7 Milyar TL\u2019lik &#8220;Ertelenmi\u015f Vergi Varl\u0131\u011f\u0131&#8221;d\u0131r.<\/p>\n<p>Analitik bir perspektifle bak\u0131ld\u0131\u011f\u0131nda; <b>ertelenmi\u015f vergi varl\u0131\u011f\u0131, \u015firketin 2025 y\u0131l\u0131ndaki 33,9 Milyar TL\u2019lik net k\u00e2r\u0131ndan daha b\u00fcy\u00fckt\u00fcr.<\/b> Bu durum, \u015firketin mevcut k\u00e2rl\u0131l\u0131\u011f\u0131n\u0131n operasyonel nakit \u00fcretiminden ziyade, gelecekte \u00f6denecek vergilerden yap\u0131lacak mahsuplara, yani &#8220;gelecek beklentilerine&#8221; dayand\u0131\u011f\u0131n\u0131 g\u00f6sterir. Denet\u00e7ilerin bunu &#8220;Kilit Denetim Konusu&#8221; yapmas\u0131 tesad\u00fcf de\u011fildir; zira bu varl\u0131\u011f\u0131n de\u011feri, y\u00f6netimin gelecekte bu te\u015fviki kullanacak kadar k\u00e2r elde edece\u011fi varsay\u0131m\u0131na s\u0131k\u0131 s\u0131k\u0131ya ba\u011fl\u0131d\u0131r.<\/p>\n<h3>6. Craiova\u2019dan M\u00fchendislik \u0130hracat\u0131na: \u00dcretim \u00dcss\u00fcn\u00fcn Anatomisi<\/h3>\n<p>Ford Otosan, sadece ara\u00e7 montajlayan bir fabrika de\u011fil, devasa bir teknoloji ve hizmet ihracat\u00e7\u0131s\u0131d\u0131r:<\/p>\n<ul>\n<li><b>\u00dcretim \u00c7e\u015fitlili\u011fi:<\/b> Kocaeli (Transit), Eski\u015fehir (Kamyon ve Motor) ve Romanya-Craiova (Puma ve Courier) tesisleri, \u015firketi Avrupa\u2019n\u0131n ticari ara\u00e7 lideri konumunda tutuyor.<\/li>\n<li><b>Hizmet \u0130hracat Motoru:<\/b> \u015eirket b\u00fcnyesinde \u00e7al\u0131\u015fan <b>2.238 R&amp;D personeli<\/b>, Ford Otosan\u2019\u0131 sadece bir \u00fcretici de\u011fil, ayn\u0131 zamanda m\u00fchendislik ihra\u00e7 eden bir &#8220;hizmet ihracat merkezine&#8221; d\u00f6n\u00fc\u015ft\u00fcr\u00fcyor.<\/li>\n<li><b>\u00d6l\u00e7ek:<\/b> 25.000&#8217;i a\u015fan \u00e7al\u0131\u015fan say\u0131s\u0131 ve Ar-Ge kapasitesi, fiziksel b\u00fcy\u00fckl\u00fc\u011f\u00fcn \u00f6tesinde entelekt\u00fcel bir sermayeyi temsil ediyor.<\/li>\n<\/ul>\n<h3>7. Sonu\u00e7: Gelecek Vizyonu ve Bir Soru<\/h3>\n<p>Ford Otosan, 2025 y\u0131l\u0131n\u0131 830,8 Milyar TL\u2019lik tarihi bir has\u0131latla kapat\u0131rken, finansal mimarisini b\u00fcy\u00fck \u00f6l\u00e7\u00fcde gelecek te\u015fvikleri ve ekosistem i\u00e7i sat\u0131\u015flar \u00fczerine kurgulad\u0131\u011f\u0131n\u0131 g\u00f6r\u00fcyoruz. Parasal pozisyon kazan\u00e7lar\u0131 ve vergi avantajlar\u0131 net k\u00e2r\u0131 desteklese de, \u00f6zkaynaklar \u00fczerindeki hedge bask\u0131s\u0131 ve k\u00e2r\u0131n reel olarak daralmas\u0131, y\u00f6netilmesi gereken ciddi riskler olarak duruyor.<\/p>\n<p><b>Gelecekteki vergi avantajlar\u0131na ve &#8220;ka\u011f\u0131t \u00fczerindeki&#8221; muhasebe kazan\u00e7lar\u0131na dayanan bu k\u00e2rl\u0131l\u0131k yap\u0131s\u0131, k\u00fcresel talepteki olas\u0131 bir daralma ve kur oynakl\u0131\u011f\u0131 kar\u015f\u0131s\u0131nda \u00f6zkaynak kalitesini ne kadar koruyabilecek?<\/b><\/p>\n<p>&nbsp;<\/p>\n<h1><span style=\"color: #0000ff;\">Ford Otomotiv Sanayi A.\u015e. 2025 Y\u0131l\u0131 Finansal Raporlama ve Ba\u011f\u0131ms\u0131z Denetim Analizi<\/span><\/h1>\n<p>Bu bilgilendirme belgesi, Ford Otomotiv Sanayi Anonim \u015eirketi (\u201c\u015eirket\u201d) ve ba\u011fl\u0131 ortakl\u0131klar\u0131n\u0131n (\u201cGrup\u201d) 1 Ocak &#8211; 31 Aral\u0131k 2025 hesap d\u00f6nemine ait konsolide finansal tablolar\u0131n\u0131 ve ba\u011f\u0131ms\u0131z denet\u00e7i raporunu sentezleyerek sunmaktad\u0131r.<\/p>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Ford Otomotiv Sanayi A.\u015e., 2025 mali y\u0131l\u0131nda y\u00fcksek enflasyonist ortam ve karma\u015f\u0131k k\u00fcresel ticaret dinamikleri alt\u0131nda operasyonlar\u0131n\u0131 s\u00fcrd\u00fcrm\u00fc\u015ft\u00fcr. Ba\u011f\u0131ms\u0131z denetim raporu, \u015eirket\u2019in finansal tablolar\u0131n\u0131n T\u00fcrkiye Finansal Raporlama Standartlar\u0131na (TFRS) uygun olarak, t\u00fcm \u00f6nemli y\u00f6nleriyle ger\u00e7e\u011fe uygun bir bi\u00e7imde sunuldu\u011funu teyit eden &#8220;olumlu g\u00f6r\u00fc\u015f&#8221; alm\u0131\u015ft\u0131r.<\/p>\n<p><b>Kritik \u00c7\u0131kar\u0131mlar:<\/b><\/p>\n<ul>\n<li><b>Finansal Performans:<\/b> Grup, 2025 y\u0131l\u0131nda 830,8 milyar TL has\u0131lat ve 33,9 milyar TL net d\u00f6nem k\u00e2r\u0131 elde etmi\u015ftir.<\/li>\n<li><b>Enflasyon Muhasebesi:<\/b> TMS 29 uyar\u0131nca yap\u0131lan d\u00fczeltmeler, finansal durumun ve performans\u0131n sunumunda belirleyici bir rol oynam\u0131\u015ft\u0131r.<\/li>\n<li><b>\u0130li\u015fkili Taraf Yo\u011funlu\u011fu:<\/b> Sat\u0131\u015flar\u0131n %84&#8217;\u00fc ve ticari alacaklar\u0131n %66&#8217;s\u0131 ili\u015fkili taraflarla ger\u00e7ekle\u015ftirilmektedir; bu durum denet\u00e7i taraf\u0131ndan &#8220;Dikkat \u00c7ekilen Husus&#8221; olarak vurgulanm\u0131\u015ft\u0131r.<\/li>\n<li><b>Sermaye Y\u00f6netimi:<\/b> &#8220;Net Finansal Bor\u00e7 \/ VAF\u00d6K&#8221; oran\u0131 1,49 olarak ger\u00e7ekle\u015ferek, y\u00f6netimin 3,5 hedefinin olduk\u00e7a alt\u0131nda, sa\u011fl\u0131kl\u0131 bir seviyede kalm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>Ba\u011f\u0131ms\u0131z Denetim G\u00f6r\u00fc\u015f\u00fc ve Kapsam\u0131<\/h2>\n<p>G\u00fcney Ba\u011f\u0131ms\u0131z Denetim ve SMMM A.\u015e. (Ernst &amp; Young Global Limited \u00fcyesi) taraf\u0131ndan y\u00fcr\u00fct\u00fclen denetim, 31 Aral\u0131k 2025 tarihi itibar\u0131yla \u015eirket&#8217;in finansal durumunu incelemi\u015ftir.<\/p>\n<h3>Denet\u00e7i G\u00f6r\u00fc\u015f\u00fc ve \u00d6nemli Vurgular<\/h3>\n<ul>\n<li><b>G\u00f6r\u00fc\u015f:<\/b> Konsolide finansal tablolar ger\u00e7e\u011fe uygun bir sunum te\u015fkil etmektedir.<\/li>\n<li><b>Dikkat \u00c7ekilen Husus:<\/b> Grup\u2019un operasyonel yap\u0131s\u0131 b\u00fcy\u00fck \u00f6l\u00e7\u00fcde ili\u015fkili taraflara dayanmaktad\u0131r. 31 Aral\u0131k 2024&#8217;te %80 olan ili\u015fkili taraf sat\u0131\u015f oran\u0131, 2025 sonunda %84&#8217;e y\u00fckselmi\u015ftir. Alacaklardaki ili\u015fkili taraf pay\u0131 ise %66 (2024: %65) seviyesindedir.<\/li>\n<li><b>S\u00fcreklilik:<\/b> Y\u00f6netim, i\u015fletmenin s\u00fcreklili\u011fi esas\u0131n\u0131 kullanman\u0131n uygun oldu\u011fu sonucuna varm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>Kilit Denetim Konular\u0131 (KDK)<\/h2>\n<p>Denetim s\u00fcrecinde mesleki muhakeme gerektiren ve en \u00e7ok \u00f6nem arz eden d\u00f6rt ana konu belirlenmi\u015ftir:<\/p>\n<h3>1. Enflasyon Muhasebesi Uygulamas\u0131 (TMS 29)<\/h3>\n<p>T\u00fcrkiye&#8217;nin y\u00fcksek enflasyonlu ekonomi olarak de\u011ferlendirilmesi nedeniyle, finansal tablolar T\u00fcrk Liras\u0131&#8217;n\u0131n sat\u0131n alma g\u00fcc\u00fcndeki de\u011fi\u015fimlere g\u00f6re yeniden d\u00fczenlenmi\u015ftir.<\/p>\n<ul>\n<li><b>Dayanak:<\/b> T\u00dc\u0130K taraf\u0131ndan yay\u0131mlanan T\u00fcketici Fiyat Endeksi (T\u00dcFE). 31 Aral\u0131k 2025 endeksi 3.513,87 olarak baz al\u0131nm\u0131\u015ft\u0131r.<\/li>\n<li><b>Etki:<\/b> Parasal olmayan varl\u0131k ve y\u00fck\u00fcml\u00fcl\u00fckler d\u00fczeltilmi\u015f, net parasal pozisyon kazan\u00e7\/kay\u0131plar\u0131 (15,8 milyar TL kazan\u00e7) k\u00e2r veya zarar tablosuna yans\u0131t\u0131lm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<h3>2. Ticari Alacaklar\u0131n Geri Kazan\u0131labilirli\u011fi<\/h3>\n<p>Ticari alacaklar, toplam varl\u0131klar\u0131n %20&#8217;sini olu\u015fturmas\u0131 nedeniyle kritik \u00f6neme sahiptir.<\/p>\n<ul>\n<li><b>Mevcut Durum:<\/b> 88,8 milyar TL tutar\u0131ndaki ticari alacaklar i\u00e7in 695,8 milyon TL de\u011fer d\u00fc\u015f\u00fckl\u00fc\u011f\u00fc kar\u015f\u0131l\u0131\u011f\u0131 ayr\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>Risk Y\u00f6netimi:<\/b> Grup, TFRS 9 &#8220;beklenen kredi zararlar\u0131&#8221; modelini ve yurt i\u00e7i sat\u0131\u015flarda &#8220;Do\u011frudan Bor\u00e7land\u0131rma Sistemi&#8221;ni (DBS) kullanarak kredi riskini y\u00f6netmektedir.<\/li>\n<\/ul>\n<h3>3. Nakit Ak\u0131\u015f Riskinden Korunma Muhasebesi<\/h3>\n<p>Grup, 2031 y\u0131l\u0131na kadar s\u00fcrecek olan ihracat anla\u015fmalar\u0131 kapsam\u0131nda Avro cinsinden bor\u00e7lanmalar\u0131n\u0131, Avro cinsinden ihracat gelirleriyle ili\u015fkilendirerek kur riskini dengelemektedir.<\/p>\n<ul>\n<li><b>Finansal Etki:<\/b> 31 Aral\u0131k 2025 itibar\u0131yla \u00f6zkaynaklar alt\u0131nda s\u0131n\u0131fland\u0131r\u0131lan nakit ak\u0131\u015f riskinden korunma kayb\u0131 32,9 milyar TL&#8217;dir.<\/li>\n<li><b>Karma\u015f\u0131kl\u0131k:<\/b> Bu muhasebele\u015ftirme s\u00fcreci, uzun vadeli ara\u00e7 k\u00e2r marjlar\u0131 ve sat\u0131\u015f miktar\u0131 tahminlerine dayand\u0131\u011f\u0131 i\u00e7in y\u00fcksek derecede y\u00f6netim muhakemesi i\u00e7erir.<\/li>\n<\/ul>\n<h3>4. Yat\u0131r\u0131m Te\u015fvikleri ve Ertelenmi\u015f Vergi Varl\u0131klar\u0131<\/h3>\n<p>\u015eirket, devlet yard\u0131mlar\u0131 kapsam\u0131nda \u00f6nemli tutarda ertelenmi\u015f vergi varl\u0131\u011f\u0131 aktifle\u015ftirmi\u015ftir.<\/p>\n<ul>\n<li><b>Tutar:<\/b> Toplam 36,7 milyar TL ertelenmi\u015f vergi varl\u0131\u011f\u0131.<\/li>\n<li><b>Tahminler:<\/b> Bu varl\u0131klar\u0131n muhasebele\u015ftirilmesi, gelecekteki vergilendirilebilir k\u00e2r tahminlerine ve yat\u0131r\u0131m harcamalar\u0131n\u0131n te\u015fvik vizelerinde kabul edilece\u011fi varsay\u0131m\u0131na dayanmaktad\u0131r.<\/li>\n<\/ul>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>Operasyonel Yap\u0131 ve Kapasite<\/h2>\n<p>Ford Otomotiv Sanayi A.\u015e., T\u00fcrkiye ve Romanya&#8217;da yay\u0131lm\u0131\u015f geni\u015f bir \u00fcretim a\u011f\u0131na sahiptir.<\/p>\n<ul>\n<li><b>\u00dcretim Tesisleri:<\/b>\n<ul>\n<li><b>Kocaeli:<\/b> G\u00f6lc\u00fck (2 ton ticari ara\u00e7) ve Yenik\u00f6y (1 ton ticari ara\u00e7) fabrikalar\u0131.<\/li>\n<li><b>Eski\u015fehir:<\/b> Ford Trucks kamyon, motor ve aktarma organlar\u0131 fabrikalar\u0131.<\/li>\n<li><b>Romanya (Craiova):<\/b> Puma ara\u00e7, yeni nesil Transit Courier ve Ecoboost motor \u00fcretimi.<\/li>\n<\/ul>\n<\/li>\n<li><b>\u0130nsan Kaynaklar\u0131:<\/b> 2025 y\u0131l\u0131 sonu itibar\u0131yla toplam 25.002 \u00e7al\u0131\u015fan bulunmaktad\u0131r (19.963 saat \u00fccretli, 5.039 ayl\u0131k \u00fccretli). Ayr\u0131ca 2.238 \u00e7al\u0131\u015fan Ar-Ge faaliyetlerinde g\u00f6rev almaktad\u0131r.<\/li>\n<li><b>Ortakl\u0131k Yap\u0131s\u0131:<\/b> \u015eirket sermayesinin %17,89&#8217;u Borsa \u0130stanbul&#8217;da (BIST) i\u015flem g\u00f6rmekte olup, ana ortaklar Ford Grubu ve Ko\u00e7 Grubu&#8217;dur.<\/li>\n<\/ul>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>Finansal Performans Verileri (\u00d6zet)<\/h2>\n<p>A\u015fa\u011f\u0131daki tablo, Grup&#8217;un 2025 ve 2024 y\u0131llar\u0131ndaki finansal performans\u0131n\u0131 31 Aral\u0131k 2025 sat\u0131n alma g\u00fcc\u00fc cinsinden kar\u015f\u0131la\u015ft\u0131rmal\u0131 olarak sunmaktad\u0131r:<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem (Bin TL)<\/td>\n<td>2025 (Cari)<\/td>\n<td>2024 (Ge\u00e7mi\u015f)<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Varl\u0131klar<\/b><\/td>\n<td>450.780.450<\/td>\n<td>427.716.001<\/td>\n<\/tr>\n<tr>\n<td><b>Has\u0131lat<\/b><\/td>\n<td>830.827.933<\/td>\n<td>778.801.036<\/td>\n<\/tr>\n<tr>\n<td><b>Br\u00fct K\u00e2r<\/b><\/td>\n<td>69,383,718<\/td>\n<td>71,472,828<\/td>\n<\/tr>\n<tr>\n<td><b>Esas Faaliyet K\u00e2r\u0131<\/b><\/td>\n<td>42.603.202<\/td>\n<td>37.938.380<\/td>\n<\/tr>\n<tr>\n<td><b>D\u00f6nem Net K\u00e2r\u0131<\/b><\/td>\n<td>33.986.135<\/td>\n<td>50.869.299<\/td>\n<\/tr>\n<tr>\n<td><b>D\u00fczeltilmi\u015f VAF\u00d6K<\/b><\/td>\n<td>66.566.426<\/td>\n<td>55.893.211<\/td>\n<\/tr>\n<tr>\n<td><b>Net Finansal Bor\u00e7<\/b><\/td>\n<td>99.193.516<\/td>\n<td>132.759.248<\/td>\n<\/tr>\n<tr>\n<td><b>Pay Ba\u015f\u0131na Kazan\u00e7 (Kr)<\/b><\/td>\n<td>9,69<\/td>\n<td>14,50<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>Sermaye Yap\u0131s\u0131 \u0130zleme Raporu<\/h3>\n<p>Grup y\u00f6netimi, finansal risklerin y\u00f6netiminde bor\u00e7luluk oranlar\u0131n\u0131 yak\u0131ndan takip etmektedir.<\/p>\n<ul>\n<li><b>Net Finansal Bor\u00e7 \/ VAF\u00d6K Oran\u0131:<\/b> 1,49 (2024: 2,38). Bu oran, bor\u00e7 \u00f6deme kapasitesinin \u00f6nceki y\u0131la g\u00f6re g\u00fc\u00e7lendi\u011fini g\u00f6stermektedir.<\/li>\n<\/ul>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>Sonu\u00e7 ve Mevzuat Uyumu<\/h2>\n<p>Finansal raporlar, 6102 say\u0131l\u0131 T\u00fcrk Ticaret Kanunu (TTK) ve Sermaye Piyasas\u0131 Kurulu (SPK) d\u00fczenlemeleriyle tam uyumlu \u015fekilde haz\u0131rlanm\u0131\u015ft\u0131r. \u015eirket&#8217;in risk y\u00f6netimi stratejileri (&#8220;Riskin Erken Saptanmas\u0131 Sistemi&#8221;) 9 \u015eubat 2026 tarihinde y\u00f6netim kuruluna sunulmu\u015f olup, defter tutma d\u00fczeninin kanun ve esas s\u00f6zle\u015fme h\u00fck\u00fcmlerine uygun oldu\u011fu onaylanm\u0131\u015ft\u0131r. Finansal tablolar\u0131n kesinle\u015fmesi i\u00e7in Genel Kurul onay\u0131 beklenmektedir.<\/p>\n<button class=\"simplefavorite-button\" data-postid=\"1026\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>Ba\u015fl\u0131k: Ford Otosan 2025 Y\u0131l\u0131nda \u0130hracat Odakl\u0131 B\u00fcy\u00fcmesini S\u00fcrd\u00fcrd\u00fc<br \/>\nFord Otosan, 2025 y\u0131l\u0131 finansal sonu\u00e7lar\u0131n\u0131 a\u00e7\u0131klad\u0131. \u015eirket, zorlu makroekonomik ko\u015fullara ve uygulanan enflasyon muhasebesine ra\u011fmen toplam has\u0131lat\u0131n\u0131 830,8 milyar TL\u2019ye ta\u015f\u0131may\u0131 ba\u015fard\u0131. B\u00fcy\u00fcmenin ana motoru, toplam sat\u0131\u015f gelirlerinin %79\u2019unu olu\u015fturan ihracat faaliyetleri oldu. Net kar rakam\u0131 enflasyon d\u00fczeltmeleri nedeniyle 33,9 milyar TL seviyesinde kalsa da, \u015firketin operasyonel karl\u0131l\u0131\u011f\u0131n\u0131n bir g\u00f6stergesi olan D\u00fczeltilmi\u015f FAV\u00d6K marj\u0131 %8,0\u2019e y\u00fckselerek g\u00fc\u00e7l\u00fc bir performans sergiledi. 724 binden fazla ara\u00e7 sat\u0131\u015f\u0131 ger\u00e7ekle\u015ftiren Ford Otosan, T\u00fcrkiye otomotiv sekt\u00f6r\u00fcndeki \u00f6nc\u00fc konumunu peki\u015ftirmeye devam ediyor.<\/p>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<br \/>\nWordpress Blog Page Excerpt<br \/>\nTitle: Ford Otosan Continued Its Export-Oriented Growth in 2025<br \/>\nFord Otosan has announced its financial results for 2025. Despite challenging macroeconomic conditions and the application of inflation accounting, the company successfully increased its total revenue to 830.8 billion TL. The main driver of this growth was export activities, which accounted for 79% of total sales revenue. While net profit stood at 33.9 billion TL due to inflation adjustments, the Adjusted EBITDA margin\u2014a key indicator of operational profitability\u2014rose to 8.0%, demonstrating strong performance. By selling over 724,000 vehicles, Ford Otosan continues to consolidate its leading position in the Turkish automotive sector.<\/p>\n","protected":false},"author":1,"featured_media":971,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[233],"class_list":["post-1026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-froto"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1026","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/comments?post=1026"}],"version-history":[{"count":3,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1026\/revisions"}],"predecessor-version":[{"id":1029,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1026\/revisions\/1029"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media\/971"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media?parent=1026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=1026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=1026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}