{"id":1048,"date":"2026-02-10T23:15:08","date_gmt":"2026-02-10T20:15:08","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=1048"},"modified":"2026-02-10T23:32:35","modified_gmt":"2026-02-10T20:32:35","slug":"%f0%9f%94%b4%f0%9f%87%b9%f0%9f%87%b7-lilak-lila-kagit-2025-12-bilanco-analizi","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/1048","title":{"rendered":"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #LILAK | Lila Ka\u011f\u0131t  2025\/12 Bilan\u00e7o Analizi &#8211; Lila Ka\u011f\u0131t\u2019\u0131n Bor\u00e7suz Bilan\u00e7osu ve Erzurum Hamlesi"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/creators.spotify.com\/pod\/profile\/market-risk-tr\/embed\/episodes\/LILAK--Lila-Kat-202512-Bilano-Analizi---Lila-Katn-Borsuz-Bilanosu-ve-Erzurum-Hamlesi-e3etobf\/a-acfed0c\" width=\"400px\" height=\"102px\" frameborder=\"0\" scrolling=\"no\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/p>\n<div class=\"paragraph normal ng-star-inserted\" data-start-index=\"2011\">2025 Finansal Raporlar\u0131ndan \u00d6ne \u00c7\u0131kan Ba\u015fl\u0131klar \/ Key Highlights from the 2025 Financial Reports<br \/>\nT\u00fcrk\u00e7e (Turkish)<br \/>\n\u2022 Net Sat\u0131\u015flar: Lila Ka\u011f\u0131t, 2025 y\u0131l\u0131nda zorlu k\u00fcresel ekonomik ko\u015fullara ra\u011fmen 13,6 milyar TL konsolide net sat\u0131\u015f geliri elde etmi\u015ftir.<br \/>\n\u2022 K\u00e2rl\u0131l\u0131k: \u015eirketin br\u00fct k\u00e2r\u0131 4,1 milyar TL (%30,1 marj), FAV\u00d6K\u2019\u00fc (EBITDA) 2,6 milyar TL (%19,2 marj) ve vergi sonras\u0131 net d\u00f6nem k\u00e2r\u0131 1,7 milyar TL (%12,5 marj) olarak ger\u00e7ekle\u015fmi\u015ftir.<br \/>\n\u2022 \u0130hracat Oda\u011f\u0131: Toplam has\u0131lat\u0131n %67\u2019si ihracat faaliyetlerinden elde edilmi\u015f olup, 81 \u00fclkeye toplam 9,1 milyar TL tutar\u0131nda ihracat ger\u00e7ekle\u015ftirilmi\u015ftir.<br \/>\n\u2022 Yat\u0131r\u0131m Harcamalar\u0131 (CAPEX): 2025 y\u0131l\u0131nda toplam 1,5 milyar TL yat\u0131r\u0131m harcamas\u0131 yap\u0131lm\u0131\u015ft\u0131r; bu tutar\u0131n 1.039 milyon TL\u2019si Erzurum \u00fcretim tesisine, 178 milyon TL\u2019si ise Ergene tesisindeki modernizasyon \u00e7al\u0131\u015fmalar\u0131na ayr\u0131lm\u0131\u015ft\u0131r.<br \/>\n\u2022 Finansal Yap\u0131: \u015eirket, 16,2 milyar TL \u00f6zkaynak b\u00fcy\u00fckl\u00fc\u011f\u00fcne ula\u015fm\u0131\u015f ve bor\u00e7 sermaye oran\u0131n\u0131 %11 seviyesinde tutarak g\u00fc\u00e7l\u00fc bir bilan\u00e7o yap\u0131s\u0131 sergilemi\u015ftir.<br \/>\n\u2022 S\u00fcrd\u00fcr\u00fclebilirlik ve Enerji: Ergene tesisindeki g\u00fcne\u015f panelleriyle elektrik ihtiyac\u0131n\u0131n %8&#8217;i kar\u015f\u0131lan\u0131rken, toplam yenilenebilir enerji kapasitesinin GES projeleriyle 50 MW seviyesine \u00e7\u0131kar\u0131lmas\u0131 hedeflenmektedir.<br \/>\nEnglish (Translation)<br \/>\n\u2022 Net Sales: Despite challenging global economic conditions, Lila Ka\u011f\u0131t achieved 13.6 billion TL in consolidated net sales revenue in 2025.<br \/>\n\u2022 Profitability: The company reported a gross profit of 4.1 billion TL (30.1% margin), an EBITDA of 2.6 billion TL (19.2% margin), and a net profit of 1.7 billion TL (12.5% margin) after tax.<br \/>\n\u2022 Export Focus: 67% of total revenue was derived from export activities, with a total export value of 9.1 billion TL reaching 81 countries.<br \/>\n\u2022 Capital Expenditure (CAPEX): A total of 1.5 billion TL was invested in 2025, including 1.039 billion TL for the Erzurum production facility and 178 billion TL for modernization at the Ergene facility.<br \/>\n\u2022 Financial Structure: The company reached an equity size of 16.2 billion TL and maintained a strong balance sheet with a debt-to-equity ratio of 11%.<br \/>\n\u2022 Sustainability and Energy: While 8% of electricity needs are met by solar panels at the Ergene facility, the company aims to increase its total renewable energy capacity to 50 MW through ongoing solar (GES) projects.<\/div>\n<h1><span style=\"color: #0000ff;\">Ka\u011f\u0131t \u00dcst\u00fcndeki Rakamlardan Daha Fazlas\u0131: Lila Ka\u011f\u0131t\u2019\u0131n 2025 Finansal Karnesinden 5 \u015ea\u015f\u0131rt\u0131c\u0131 \u00c7\u0131kar\u0131m<\/span><\/h1>\n<h2>1. Giri\u015f: Finansal Tablolar Bize Ne Anlat\u0131r?<\/h2>\n<p>Bir \u015firketin ba\u011f\u0131ms\u0131z denetim raporu, ilk bak\u0131\u015fta sadece rakamlardan olu\u015fan teknik bir dok\u00fcman gibi g\u00f6r\u00fcnebilir. Ancak bu tablolar, asl\u0131nda bir \u015firketin y\u0131ll\u0131k &#8220;check-up&#8221; sonu\u00e7lar\u0131d\u0131r; nab\u0131z at\u0131\u015flar\u0131n\u0131, kas g\u00fcc\u00fcn\u00fc ve olas\u0131 kronik risklerini f\u0131s\u0131ldar. Lila Ka\u011f\u0131t\u2019\u0131n 2025 y\u0131l\u0131 konsolide raporu da tam olarak b\u00f6yle bir hikaye anlat\u0131yor. Devasa bir enflasyonist ortamda, hem hayatta kalma hem de b\u00fcy\u00fcme m\u00fccadelesinin finansal izd\u00fc\u015f\u00fcmlerini i\u00e7eren bu rapor, sat\u0131r aralar\u0131nda \u00e7ok daha derin mesajlar ta\u015f\u0131yor. Deloitte taraf\u0131ndan denetlenen 2025 raporunun derinliklerine indi\u011fimizde, \u015firketin sadece operasyonel verimlili\u011fini de\u011fil, ayn\u0131 zamanda y\u00fcksek enflasyonun finansal mimariyi nas\u0131l \u015fekillendirdi\u011fini de g\u00f6r\u00fcyoruz. \u0130\u015fte raporun derinliklerinden \u00e7\u0131kard\u0131\u011f\u0131m\u0131z en \u00e7arp\u0131c\u0131 5 analiz noktas\u0131.<\/p>\n<h2>2. Has\u0131lat Daral\u0131rken Kar Neden Artar? Maliyet Y\u00f6netiminin G\u00fcc\u00fc<\/h2>\n<p>Lila Ka\u011f\u0131t\u2019\u0131n 2025 finansal tablolar\u0131nda ilk g\u00f6ze \u00e7arpan ve olduk\u00e7a paradoksal g\u00f6r\u00fcnen durum, has\u0131lat rakamlar\u0131 ile net kar aras\u0131ndaki ters orant\u0131l\u0131 harekettir. 2024 y\u0131l\u0131na k\u0131yasla sat\u0131\u015f gelirleri d\u00fc\u015fmesine ra\u011fmen, \u015firketin net d\u00f6nem kar\u0131n\u0131 art\u0131rmay\u0131 ba\u015fard\u0131\u011f\u0131 g\u00f6r\u00fcl\u00fcyor. Bir finansal analist g\u00f6z\u00fcyle bak\u0131ld\u0131\u011f\u0131nda, bu durumun s\u0131rr\u0131 &#8220;Sat\u0131\u015flar\u0131n Maliyeti&#8221; kalemindeki keskin d\u00fc\u015f\u00fc\u015fte gizlidir.<\/p>\n<ul>\n<li><b>2024 Has\u0131lat:<\/b> 16.385.266 bin TL | <b>2025 Has\u0131lat:<\/b> 13.603.657 bin TL (%17 d\u00fc\u015f\u00fc\u015f)<\/li>\n<li><b>2024 Sat\u0131\u015flar\u0131n Maliyeti:<\/b> 11.780.048 bin TL | <b>2025 Sat\u0131\u015flar\u0131n Maliyeti:<\/b> 9.513.339 bin TL (%19 d\u00fc\u015f\u00fc\u015f)<\/li>\n<li><b>2024 Net D\u00f6nem Kar\u0131:<\/b> 1.538.478 bin TL | <b>2025 Net D\u00f6nem Kar\u0131:<\/b> 1.704.008 bin TL<\/li>\n<\/ul>\n<p>Kar art\u0131\u015f\u0131n\u0131n arkas\u0131ndaki as\u0131l neden, maliyetlerdeki %19&#8217;luk geri \u00e7ekilmenin, has\u0131lattaki %17&#8217;lik daralmadan daha fazla olmas\u0131d\u0131r. Bu tablo, \u015firketin operasyonel verimlili\u011fini sadece bir iddia olmaktan \u00e7\u0131kar\u0131p somut bir finansal ba\u015far\u0131ya d\u00f6n\u00fc\u015ft\u00fcrd\u00fc\u011f\u00fcn\u00fc kan\u0131tl\u0131yor.<\/p>\n<h2>3. Ticari Alacaklar: 3 Milyar TL&#8217;lik Kilit Hassasiyet<\/h2>\n<p>Ba\u011f\u0131ms\u0131z denet\u00e7i Deloitte, Lila Ka\u011f\u0131t i\u00e7in bu y\u0131lki en \u00f6nemli risk alanlar\u0131ndan biri olarak ticari alacaklar\u0131n geri kazan\u0131labilirli\u011fini i\u015faret etti. 31 Aral\u0131k 2025 itibar\u0131yla \u015firketin ili\u015fkili olmayan taraflardan 2.996.360 bin TL tutar\u0131nda ticari alaca\u011f\u0131 bulunuyor. Her ne kadar bu rakam bir \u00f6nceki y\u0131l\u0131n (3.205.807 bin TL) alt\u0131nda kalsa da, toplam varl\u0131klar\u0131n i\u00e7indeki a\u011f\u0131rl\u0131\u011f\u0131 nedeniyle &#8220;Kilit Denetim Konusu&#8221; olarak s\u0131n\u0131fland\u0131r\u0131lm\u0131\u015ft\u0131r.<\/p>\n<p>Denet\u00e7inin bu konuya \u00f6zel bir parantez a\u00e7mas\u0131n\u0131n nedeni, alacaklar\u0131n tahsil edilme olas\u0131l\u0131\u011f\u0131na dair yap\u0131lan tahminlerin piyasa dalgalanmalar\u0131na kar\u015f\u0131 duyarl\u0131l\u0131\u011f\u0131d\u0131r. Raporda bu risk \u015fu \u015fekilde vurgulan\u0131yor:<\/p>\n<p>&#8220;Kullan\u0131lan bu tahminler gelecekte beklenen piyasa ko\u015fullar\u0131na olduk\u00e7a duyarl\u0131d\u0131r.&#8221;<\/p>\n<p>Alacaklardaki mutlak azal\u0131\u015f analitik olarak olumlu bir sinyal olsa da, 3 milyar TL seviyesindeki bu bakiyenin y\u00f6netimi, \u015firketin nakit ak\u0131\u015f esnekli\u011fi \u00fczerinde belirleyici bir rol oynamaya devam edecektir.<\/p>\n<h2>4. Likidite Paradoksu: G\u00fc\u00e7l\u00fc Likidite Pozisyonu ve Parasal Kay\u0131p<\/h2>\n<p>2025 y\u0131l\u0131 finansal raporlamas\u0131n\u0131n en b\u00fcy\u00fck belirleyicisi, TMS 29 (Y\u00fcksek Enflasyonlu Ekonomilerde Finansal Raporlama) uygulamas\u0131d\u0131r. Burada kar\u015f\u0131m\u0131za \u00e7\u0131kan en b\u00fcy\u00fck paradoks; \u015firketin elindeki devasa nakit g\u00fcc\u00fcn\u00fcn, ayn\u0131 zamanda en b\u00fcy\u00fck &#8220;g\u00f6r\u00fcnmez maliyete&#8221; d\u00f6n\u00fc\u015fmesidir.<\/p>\n<p>Lila Ka\u011f\u0131t, 2025 y\u0131l\u0131nda 1.942.175 bin TL tutar\u0131nda &#8220;Net Parasal Pozisyon Kayb\u0131&#8221; raporlad\u0131. Finansal mant\u0131k \u00e7er\u00e7evesinde bu kay\u0131p, \u015firketin parasal varl\u0131klar\u0131n\u0131n (nakit ve alacaklar) parasal y\u00fck\u00fcml\u00fcl\u00fcklerinden fazla olmas\u0131ndan kaynaklanmaktad\u0131r. \u015eirketin sahip oldu\u011fu 5.6 milyar TL&#8217;lik g\u00fc\u00e7l\u00fc likidite pozisyonu, y\u00fcksek enflasyon ortam\u0131nda &#8220;sat\u0131n alma g\u00fcc\u00fc erozyonuna&#8221; u\u011frayarak ka\u011f\u0131t \u00fczerinde bu devasa kayb\u0131 \u00fcretmi\u015ftir. Yani \u015firketin en b\u00fcy\u00fck savunma kalkan\u0131 olan nakit mevcudu, enflasyon muhasebesi alt\u0131nda en b\u00fcy\u00fck maliyet kalemi haline gelmi\u015ftir.<\/p>\n<h2>5. \u0130svi\u00e7re Ba\u011flant\u0131s\u0131 ve Operasyonel \u00d6l\u00e7ek<\/h2>\n<p>Lila Ka\u011f\u0131t, yerel bir oyuncu olman\u0131n \u00f6tesinde, global bir risk y\u00f6netim stratejisi izlemektedir. Grubun \u0130svi\u00e7re&#8217;de kurulu %100 ba\u011fl\u0131 ortakl\u0131\u011f\u0131 olan <b>Lila Paper Swiss AG<\/b>, sadece bir d\u0131\u015f ticaret merkezi de\u011fil, ayn\u0131 zamanda stratejik bir finansal ara\u00e7t\u0131r. Not 1&#8217;de belirtildi\u011fi \u00fczere, bu \u015firketin ge\u00e7erli (fonksiyonel) para birimi <b>ABD Dolar\u0131<\/b>d\u0131r.<\/p>\n<p>Bobin ve konverting ihracat\u0131 ile hammadde ithalat\u0131 operasyonlar\u0131n\u0131n bu yap\u0131 \u00fczerinden y\u00fcr\u00fct\u00fclmesi, grubun kur riskine kar\u015f\u0131 do\u011fal bir koruma kalkan\u0131 olu\u015fturmas\u0131n\u0131 sa\u011flamaktad\u0131r. 31 Aral\u0131k 2025 itibar\u0131yla 994 ki\u015filik bir operasyonel \u00f6l\u00e7ekle faaliyet g\u00f6steren grup, \u0130svi\u00e7re \u00fczerinden kurdu\u011fu bu k\u00f6pr\u00fc sayesinde k\u00fcresel tedarik zincirinde daha esnek ve d\u00f6viz odakl\u0131 bir yap\u0131ya kavu\u015fmu\u015ftur.<\/p>\n<h2>6. Sonu\u00e7: Enflasyon Muhasebesinin \u00d6tesinde Ne Var?<\/h2>\n<p>Deloitte\u2019un Lila Ka\u011f\u0131t\u2019\u0131n 2025 raporuna verdi\u011fi &#8220;temiz g\u00f6r\u00fc\u015f&#8221; (unqualified opinion), finansal tablolar\u0131n standartlara uygunlu\u011funu teyit ediyor. Ancak analizimiz, 5.684.961 bin TL&#8217;lik nakit mevcudunun, 1.858.425 bin TL tutar\u0131ndaki k\u0131sa vadeli bor\u00e7lar\u0131 \u00fc\u00e7 kez kapatabilecek seviyede oldu\u011funu g\u00f6steriyor. Bu likidite g\u00fcc\u00fc, her ne kadar enflasyon muhasebesinde parasal kay\u0131p yaratsa da, ekonomik t\u00fcrb\u00fclanslarda \u015firkete benzersiz bir manevra alan\u0131 sa\u011flamaktad\u0131r.<\/p>\n<p><b>Ponder Noktas\u0131:<\/b> Enflasyon muhasebesinin etkisi ar\u0131nd\u0131r\u0131ld\u0131\u011f\u0131nda veya enflasyon h\u0131z\u0131 yava\u015flad\u0131\u011f\u0131nda, bu operasyonel yap\u0131 ger\u00e7ekte ne kadar kar \u00fcretebilecek? 2026&#8217;da as\u0131l soru \u015fu olacak: \u015eirket, bu devasa nakit g\u00fcc\u00fcn\u00fc parasal kay\u0131ptan kurtarmak i\u00e7in yeni yat\u0131r\u0131mlara m\u0131 y\u00f6nlendirecek, yoksa mevcut riskli konjonkt\u00fcrde bir g\u00fcvenlik kalkan\u0131 olarak tutmaya devam m\u0131 edecek?<\/p>\n<p>&nbsp;<\/p>\n<h1><span style=\"color: #0000ff;\">L\u0130LA KA\u011eIT SANAY\u0130 VE T\u0130CARET A.\u015e. 2025 YILI KONSOL\u0130DE F\u0130NANSAL B\u0130LG\u0130LEND\u0130RME RAPORU<\/span><\/h1>\n<h2>1. Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu bilgilendirme dok\u00fcman\u0131, Lila Ka\u011f\u0131t Sanayi ve Ticaret A.\u015e. (&#8220;\u015eirket&#8221;) ve ba\u011fl\u0131 ortakl\u0131\u011f\u0131 Lila Paper Swiss AG&#8217;den olu\u015fan Grup&#8217;un 31 Aral\u0131k 2025 tarihi itibar\u0131yla sona eren hesap d\u00f6nemine ait ba\u011f\u0131ms\u0131z denetimden ge\u00e7mi\u015f konsolide finansal verilerini ve kilit operasyonel bilgilerini sentezlemektedir.<\/p>\n<p>31 Aral\u0131k 2025 tarihi itibar\u0131yla Grup&#8217;un finansal g\u00f6r\u00fcn\u00fcm\u00fcne ili\u015fkin temel \u00e7\u0131kar\u0131mlar \u015funlard\u0131r:<\/p>\n<ul>\n<li><b>Denetim G\u00f6r\u00fc\u015f\u00fc:<\/b> Ba\u011f\u0131ms\u0131z denet\u00e7i (Deloitte\/DRT Ba\u011f\u0131ms\u0131z Denetim), finansal tablolar\u0131n T\u00fcrkiye Finansal Raporlama Standartlar\u0131&#8217;na (TFRS) uygun olarak t\u00fcm \u00f6nemli y\u00f6nleriyle ger\u00e7e\u011fe uygun bir bi\u00e7imde sunuldu\u011funa dair &#8220;olumlu g\u00f6r\u00fc\u015f&#8221; bildirmi\u015ftir.<\/li>\n<li><b>Kilit Finansal G\u00f6stergeler:<\/b> Grup, 2025 y\u0131l\u0131nda <b>1,7 milyar TL<\/b> net d\u00f6nem kar\u0131 elde etmi\u015ftir. Toplam varl\u0131klar 19,2 milyar TL, toplam \u00f6zkaynaklar ise 16,2 milyar TL seviyesindedir.<\/li>\n<li><b>Enflasyon Muhasebesi Etkisi:<\/b> Finansal tablolar, TMS 29 &#8220;Y\u00fcksek Enflasyonlu Ekonomilerde Finansal Raporlama&#8221; standard\u0131 uyar\u0131nca, 31 Aral\u0131k 2025 tarihindeki sat\u0131n alma g\u00fcc\u00fc esas\u0131na g\u00f6re d\u00fczeltilerek sunulmu\u015ftur.<\/li>\n<li><b>Kilit Denetim Konusu:<\/b> Denetim s\u00fcrecinde, toplam varl\u0131klar\u0131n \u00f6nemli bir b\u00f6l\u00fcm\u00fcn\u00fc olu\u015fturan yakla\u015f\u0131k <b>3 milyar TL<\/b> tutar\u0131ndaki ticari alacaklar\u0131n geri kazan\u0131labilirli\u011fi en kritik denetim alan\u0131 olarak belirlenmi\u015ftir.<\/li>\n<\/ul>\n<h2>2. Ba\u011f\u0131ms\u0131z Denetim Analizi ve Kilit Denetim Konular\u0131<\/h2>\n<p>Ba\u011f\u0131ms\u0131z denetim, Sorumlu Denet\u00e7i Cem Tovil taraf\u0131ndan y\u00fcr\u00fct\u00fclm\u00fc\u015f ve 10 \u015eubat 2026 tarihinde raporlanm\u0131\u015ft\u0131r.<\/p>\n<h3>2.1. Ticari Alacaklar\u0131n Geri Kazan\u0131labilirli\u011fi<\/h3>\n<p>Denet\u00e7i, ili\u015fkili olmayan taraflardan olan <b>2.996.360 bin TL<\/b> tutar\u0131ndaki ticari alacaklar\u0131 (2024: 3.205.807 bin TL) kilit denetim konusu olarak tan\u0131mlam\u0131\u015ft\u0131r. Bu belirlemenin gerek\u00e7eleri \u015funlard\u0131r:<\/p>\n<ul>\n<li>Alacak bakiyesinin toplam varl\u0131klar i\u00e7indeki y\u00fcksek pay\u0131.<\/li>\n<li>De\u011fer d\u00fc\u015f\u00fckl\u00fc\u011f\u00fc kar\u015f\u0131l\u0131klar\u0131n\u0131n hesaplanmas\u0131nda kullan\u0131lan tahminlerin (m\u00fc\u015fteri \u00f6deme performans\u0131, kredibilite, vade analizleri) gelecekteki piyasa ko\u015fullar\u0131na olan duyarl\u0131l\u0131\u011f\u0131.<\/li>\n<\/ul>\n<h3>2.2. Denet\u00e7i Sorumluluklar\u0131 ve Metodoloji<\/h3>\n<p>Denetim, Kamu G\u00f6zetimi Kurumu (KGK) taraf\u0131ndan yay\u0131mlanan T\u00fcrkiye Denetim Standartlar\u0131&#8217;na uygun olarak ger\u00e7ekle\u015ftirilmi\u015ftir. Denetim s\u00fcrecinde \u00f6rnekleme yoluyla do\u011frulama mektuplar\u0131 g\u00f6nderilmi\u015f, raporlama sonras\u0131 tahsilatlar test edilmi\u015f ve hukuk m\u00fc\u015favirlerinden devam eden davalar hakk\u0131nda bilgi al\u0131nm\u0131\u015ft\u0131r.<\/p>\n<h2>3. Finansal Durum Analizi (Bilan\u00e7o)<\/h2>\n<p>Grup&#8217;un varl\u0131k ve kaynak yap\u0131s\u0131, 31 Aral\u0131k 2025 itibar\u0131yla a\u015fa\u011f\u0131daki tabloda \u00f6zetlenmi\u015ftir (Tutarlar Bin TL cinsindendir):<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>VARLIKLAR<\/td>\n<td>31 Aral\u0131k 2025<\/td>\n<td>31 Aral\u0131k 2024<\/td>\n<\/tr>\n<tr>\n<td><b>D\u00f6nen Varl\u0131klar<\/b><\/td>\n<td><b>10.949.663<\/b><\/td>\n<td><b>12.935.374<\/b><\/td>\n<\/tr>\n<tr>\n<td>&#8211; Nakit ve Nakit Benzerleri<\/td>\n<td>5.684.961<\/td>\n<td>7.344.743<\/td>\n<\/tr>\n<tr>\n<td>&#8211; Ticari Alacaklar (\u0130li\u015fkili olmayan)<\/td>\n<td>2.996.360<\/td>\n<td>3.205.807<\/td>\n<\/tr>\n<tr>\n<td>&#8211; Stoklar<\/td>\n<td>1.642.219<\/td>\n<td>2.032.528<\/td>\n<\/tr>\n<tr>\n<td><b>Duran Varl\u0131klar<\/b><\/td>\n<td><b>8.283.235<\/b><\/td>\n<td><b>7.512.891<\/b><\/td>\n<\/tr>\n<tr>\n<td>&#8211; Maddi Duran Varl\u0131klar<\/td>\n<td>7.354.151<\/td>\n<td>7.211.531<\/td>\n<\/tr>\n<tr>\n<td><b>TOPLAM VARLIKLAR<\/b><\/td>\n<td><b>19.232.898<\/b><\/td>\n<td><b>20.448.265<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>KAYNAKLAR<\/td>\n<td>31 Aral\u0131k 2025<\/td>\n<td>31 Aral\u0131k 2024<\/td>\n<\/tr>\n<tr>\n<td><b>K\u0131sa Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler<\/b><\/td>\n<td><b>1.858.425<\/b><\/td>\n<td><b>3.652.676<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Uzun Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler<\/b><\/td>\n<td><b>1.148.028<\/b><\/td>\n<td><b>1.232.138<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>\u00d6zkaynaklar<\/b><\/td>\n<td><b>16.226.445<\/b><\/td>\n<td><b>15.563.451<\/b><\/td>\n<\/tr>\n<tr>\n<td>&#8211; \u00d6denmi\u015f Sermaye<\/td>\n<td>590.000<\/td>\n<td>590.000<\/td>\n<\/tr>\n<tr>\n<td>&#8211; Ge\u00e7mi\u015f Y\u0131llar Karlar\u0131<\/td>\n<td>4.620.707<\/td>\n<td>4.340.393<\/td>\n<\/tr>\n<tr>\n<td><b>TOPLAM KAYNAKLAR<\/b><\/td>\n<td><b>19.232.898<\/b><\/td>\n<td><b>20.448.265<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>4. Finansal Performans Analizi (Gelir Tablosu)<\/h2>\n<p>Grup&#8217;un 1 Ocak &#8211; 31 Aral\u0131k 2025 d\u00f6nemine ait performans verileri, bir \u00f6nceki y\u0131l ile kar\u015f\u0131la\u015ft\u0131rmal\u0131 olarak sunulmu\u015ftur:<\/p>\n<ul>\n<li><b>Has\u0131lat:<\/b> 2025 y\u0131l\u0131nda <b>13.603.657 bin TL<\/b> olarak ger\u00e7ekle\u015fmi\u015ftir (2024: 16.385.266 bin TL).<\/li>\n<li><b>Br\u00fct Kar:<\/b> 4.090.318 bin TL.<\/li>\n<li><b>Esas Faaliyet Kar\u0131:<\/b> 2.307.837 bin TL.<\/li>\n<li><b>Net D\u00f6nem Kar\u0131:<\/b> 1.704.008 bin TL (2024: 1,538,478 bin TL).<\/li>\n<li><b>Parasal Kay\u0131p:<\/b> Enflasyon d\u00fczeltmesi sonucu <b>1.942.175 bin TL<\/b> tutar\u0131nda parasal kay\u0131p kaydedilmi\u015ftir.<\/li>\n<li><b>Pay Ba\u015f\u0131na Kazan\u00e7:<\/b> 2,888 TL (2024: 2,752 TL).<\/li>\n<\/ul>\n<h2>5. Organizasyonel Yap\u0131 ve Faaliyet Konusu<\/h2>\n<h3>5.1. Grup Profili<\/h3>\n<p>1984 y\u0131l\u0131nda kurulan Lila Ka\u011f\u0131t Sanayi ve Ticaret A.\u015e., temel olarak bobin ka\u011f\u0131t ve konverting \u00fcr\u00fcn \u00fcretimi ile bu \u00fcr\u00fcnlerin yurt i\u00e7i ve yurt d\u0131\u015f\u0131 pazarlara sat\u0131\u015f\u0131 alan\u0131nda faaliyet g\u00f6stermektedir. \u015eirket ayr\u0131ca iplik boyama ve enerji \u00fcretimi faaliyetlerini de y\u00fcr\u00fctmektedir.<\/p>\n<h3>5.2. Ba\u011fl\u0131 Ortakl\u0131k<\/h3>\n<p>Grup&#8217;un %100 oran\u0131nda i\u015ftirak etti\u011fi tek ba\u011fl\u0131 ortakl\u0131\u011f\u0131 <b>Lila Paper Swiss AG<\/b>&#8216;dir.<\/p>\n<ul>\n<li><b>Kurulu\u015f:<\/b> 19 Ocak 2023, \u0130svi\u00e7re.<\/li>\n<li><b>Faaliyet Konusu:<\/b> D\u0131\u015f ticaret (ihracat hizmetleri ve hammadde ithalat\u0131).<\/li>\n<li><b>Ge\u00e7erli Para Birimi:<\/b> ABD Dolar\u0131.<\/li>\n<\/ul>\n<h3>5.3. \u0130stihdam<\/h3>\n<p>Grup b\u00fcnyesinde \u00e7al\u0131\u015fan personel say\u0131s\u0131nda bir \u00f6nceki y\u0131la g\u00f6re d\u00fc\u015f\u00fc\u015f g\u00f6zlenmi\u015ftir:<\/p>\n<ul>\n<li>31 Aral\u0131k 2025: <b>994<\/b> \u00e7al\u0131\u015fan.<\/li>\n<li>31 Aral\u0131k 2024: <b>1.026<\/b> \u00e7al\u0131\u015fan.<\/li>\n<\/ul>\n<h2>6. \u00d6nemli Muhasebe \u0130lkeleri ve Uygulamalar<\/h2>\n<h3>6.1. Enflasyon Muhasebesi (TMS 29)<\/h3>\n<p>T\u00fcrkiye&#8217;de 31 Aral\u0131k 2023 itibar\u0131yla k\u00fcm\u00fclatif \u00fc\u00e7 y\u0131ll\u0131k enflasyonun %100&#8217;\u00fc a\u015fmas\u0131 nedeniyle TMS 29 standard\u0131 zorunlu hale gelmi\u015ftir.<\/p>\n<ul>\n<li><b>Kullan\u0131lan Endeksler:<\/b> T\u00dc\u0130K taraf\u0131ndan yay\u0131mlanan T\u00fcketici Fiyat Endeksi (T\u00dcFE) esas al\u0131nm\u0131\u015ft\u0131r.<\/li>\n<li><b>D\u00fczeltme Katsay\u0131lar\u0131:<\/b> 31.12.2025 tarihli endeks 3.513,87 olarak belirlenmi\u015ftir.<\/li>\n<\/ul>\n<h3>6.2. Has\u0131lat\u0131n Tan\u0131nmas\u0131 (TFRS 15)<\/h3>\n<p>Has\u0131lat, be\u015f a\u015famal\u0131 bir model (s\u00f6zle\u015fmenin tan\u0131mlanmas\u0131, performans y\u00fck\u00fcml\u00fcl\u00fcklerinin belirlenmesi, i\u015flem fiyat\u0131n\u0131n tespiti, fiyat\u0131n da\u011f\u0131t\u0131lmas\u0131 ve has\u0131lat\u0131n finansal tablolara yans\u0131t\u0131lmas\u0131) \u00e7er\u00e7evesinde muhasebele\u015ftirilmektedir.<\/p>\n<h3>6.3. Kiralama \u0130\u015flemleri (TFRS 16)<\/h3>\n<p>Grup, k\u0131sa vadeli ve d\u00fc\u015f\u00fck de\u011ferli kiralamalar d\u0131\u015f\u0131ndaki t\u00fcm s\u00f6zle\u015fmeler i\u00e7in &#8220;Kullan\u0131m Hakk\u0131 Varl\u0131\u011f\u0131&#8221; ve &#8220;Kiralama Y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fc&#8221; tan\u0131maktad\u0131r. 31 Aral\u0131k 2025 itibar\u0131yla kullan\u0131m hakk\u0131 varl\u0131klar\u0131n\u0131n de\u011feri <b>153.077 bin TL<\/b>&#8216;dir.<\/p>\n<h3>6.4. Maddi Duran Varl\u0131klar<\/h3>\n<p>Varl\u0131klar, maliyet de\u011ferinden birikmi\u015f amortisman d\u00fc\u015f\u00fclerek g\u00f6sterilmektedir. Tahmin edilen faydal\u0131 \u00f6m\u00fcrler binalar i\u00e7in 25-50 y\u0131l, makine ve tesisler i\u00e7in ise 5-25 y\u0131l aras\u0131nda de\u011fi\u015fmektedir.<\/p>\n<button class=\"simplefavorite-button\" data-postid=\"1048\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>Wordpress Blog Sayfas\u0131 \u0130\u00e7in \u00d6zet \/ Excerpt for WordPress Blog Page<br \/>\nT\u00fcrk\u00e7e (Turkish)<br \/>\nBa\u015fl\u0131k: Lila Ka\u011f\u0131t 2025 Y\u0131l\u0131nda \u0130hracat ve Yat\u0131r\u0131mla G\u00fc\u00e7l\u00fc B\u00fcy\u00fcmesini S\u00fcrd\u00fcrd\u00fc<br \/>\n\u00d6zet: Lila Ka\u011f\u0131t, 2025 mali y\u0131l\u0131nda 13,6 milyar TL net sat\u0131\u015f ve 1,7 milyar TL net k\u00e2r a\u00e7\u0131klayarak zorlu piyasa ko\u015fullar\u0131nda dayan\u0131kl\u0131l\u0131\u011f\u0131n\u0131 kan\u0131tlad\u0131. Has\u0131lat\u0131n\u0131n %67\u2019sini ihracattan sa\u011flayan \u015firket, Erzurum fabrikas\u0131 ve yenilenebilir enerji projelerine yapt\u0131\u011f\u0131 1,5 milyar TL\u2019lik yat\u0131r\u0131mla s\u00fcrd\u00fcr\u00fclebilir gelecek vizyonunu peki\u015ftirdi. \u015eirketin finansal performans\u0131, operasyonel m\u00fckemmellik ad\u0131mlar\u0131 ve 2026 hedeflerine dair t\u00fcm detaylar blog yaz\u0131m\u0131zda.<br \/>\nEnglish (Translation)<br \/>\nTitle: Lila Ka\u011f\u0131t Continued Its Strong Growth in 2025 Through Exports and Investments<br \/>\nExcerpt: Lila Ka\u011f\u0131t proved its resilience in challenging market conditions by announcing 13.6 billion TL in net sales and 1.7 billion TL in net profit for the 2025 fiscal year. Generating 67% of its revenue from exports, the company reinforced its vision for a sustainable future with 1.5 billion TL in investments toward its Erzurum factory and renewable energy projects. Discover all the details regarding the company&#8217;s financial performance, operational excellence milestones, and 2026 targets in our latest post.<\/p>\n","protected":false},"author":1,"featured_media":973,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[237],"class_list":["post-1048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-lilak"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1048","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=1048"}],"version-history":[{"count":5,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1048\/revisions"}],"predecessor-version":[{"id":1057,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1048\/revisions\/1057"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media\/973"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media?parent=1048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=1048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=1048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}