{"id":121,"date":"2025-12-18T19:24:06","date_gmt":"2025-12-18T16:24:06","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=121"},"modified":"2025-12-18T19:24:06","modified_gmt":"2025-12-18T16:24:06","slug":"%f0%9f%94%b4%f0%9f%87%b9%f0%9f%87%b7-sonme-sonmez-filament-sentetik-iplik-2025-9-bilanco-analizi-adi-iplik-fabrikasi-geliri-kira-imparatorlugu%f0%9f%a7%bf","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/121","title":{"rendered":"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #SONME | S\u00f6nmez Filament Sentetik \u0130plik 2025\/9 Bilan\u00e7o Analizi | Ad\u0131 &#8220;\u0130plik Fabrikas\u0131&#8221;, Geliri &#8220;Kira \u0130mparatorlu\u011fu&#8221;\ud83e\uddff"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #SONME | S\u00f6nmez Filament 2025\/9 Bilan\u00e7o Analizi | Ad\u0131 \u0130plik Fabrikas\u0131 Geliri Kira \u0130mparatorlu\u011fu\ud83e\uddff\" width=\"858\" height=\"483\" src=\"https:\/\/www.youtube.com\/embed\/9WCN0vgGbU4?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h1>5 Milyar Liral\u0131k \u015eirket, 4 \u00c7al\u0131\u015fan: Bir Finansal Raporun Anlatt\u0131\u011f\u0131 \u0130nan\u0131lmaz Hikaye<\/h1>\n<p>Finansal raporlar&#8230; \u00c7o\u011fumuz i\u00e7in bu kelime grubu, anla\u015f\u0131lmas\u0131 zor rakam tablolar\u0131, dipnotlar ve s\u0131k\u0131c\u0131 muhasebe terimleriyle e\u015f anlaml\u0131d\u0131r. Genellikle g\u00f6z at\u0131p ge\u00e7ti\u011fimiz bu belgelerin, bir \u015firketin ger\u00e7ek do\u011fas\u0131n\u0131 anlatan \u015fa\u015f\u0131rt\u0131c\u0131 hikayeler bar\u0131nd\u0131rabilece\u011fi pek akl\u0131m\u0131za gelmez. Ancak bazen, sat\u0131r aralar\u0131na gizlenmi\u015f rakamlar, bir \u015firketin kimli\u011fine dair en beklenmedik ger\u00e7ekleri ortaya koyabilir.<\/p>\n<p>S\u00f6nmez Filament Sentetik \u0130plik ve Elyaf Sanayii A.\u015e.&#8217;nin halka a\u00e7\u0131k finansal raporlar\u0131n\u0131 incelerken tam da b\u00f6yle bir durumla kar\u015f\u0131la\u015ft\u0131m. Bir iplik \u00fcreticisinden beklenmeyecek kadar ilgin\u00e7 ve \u015fa\u015f\u0131rt\u0131c\u0131 olan bu bulgular\u0131, finansal okuryazarl\u0131\u011f\u0131n ne kadar ayd\u0131nlat\u0131c\u0131 olabilece\u011fini g\u00f6stermek ad\u0131na a\u015fa\u011f\u0131da bir liste halinde sunuyorum.<\/p>\n<h2>1. Ad\u0131 &#8220;\u0130plik Fabrikas\u0131&#8221;, Geliri &#8220;Kira \u0130mparatorlu\u011fu&#8221;<\/h2>\n<p>\u015eirketin resmi unvan\u0131 &#8220;S\u00f6nmez Filament Sentetik \u0130plik ve Elyaf Sanayii A.\u015e.&#8221;. Bu isim, akla hemen devasa makinelerin \u00e7al\u0131\u015ft\u0131\u011f\u0131, iplik ve elyaf \u00fcreten bir sanayi tesisini getiriyor. Ancak finansal raporlar, \u015firketin faaliyetlerinin isminin \u00e7a\u011fr\u0131\u015ft\u0131rd\u0131\u011f\u0131ndan \u00e7ok farkl\u0131 bir y\u00f6nde oldu\u011funu a\u00e7\u0131k\u00e7a g\u00f6steriyor.<\/p>\n<p>Rapordaki en \u00e7arp\u0131c\u0131 ger\u00e7ek \u015fu: \u015eirketin gelirlerinin (Has\u0131lat) neredeyse tamam\u0131 \u00fcretimden de\u011fil, sahip oldu\u011fu gayrimenkullerin kiralanmas\u0131ndan geliyor. Finansal tablolar\u0131n 18 numaral\u0131 dipnotunda bu durum, <i>&#8220;esas gelirlerinin tamam\u0131na yak\u0131n\u0131 kira gelirlerinden olu\u015fmaktad\u0131r&#8221;<\/i> ifadesiyle net bir \u015fekilde belirtiliyor.<\/p>\n<p>Bu durumu rakamlarla somutla\u015ft\u0131rmak i\u00e7in varl\u0131k yap\u0131s\u0131na bakmak yeterli:<\/p>\n<ul>\n<li><b>Yat\u0131r\u0131m Ama\u00e7l\u0131 Gayrimenkuller:<\/b> 3.336.427.036 TL<\/li>\n<li><b>Maddi Duran Varl\u0131klar<\/b> (\u00fcretim i\u00e7in kullan\u0131lan fabrika binas\u0131, makineler ve te\u00e7hizatlar gibi varl\u0131klar): 12.358.545 TL<\/li>\n<\/ul>\n<p>Finansal durum tablosundaki bu kar\u015f\u0131la\u015ft\u0131rma, durumu \u00f6zetliyor. \u015eirketin \u00fcretimde kullan\u0131lmas\u0131 beklenen makine ve te\u00e7hizatlar\u0131n\u0131n net defter de\u011feri sadece 12.3 milyon TL iken, kiraya vererek gelir elde etti\u011fi gayrimenkullerin de\u011feri 3.3 milyar TL&#8217;yi a\u015f\u0131yor. Bu, \u015firketin sadece faaliyet alan\u0131n\u0131 de\u011fil, kimli\u011fini de de\u011fi\u015ftirdi\u011finin en net finansal foto\u011fraf\u0131d\u0131r. \u00dcretim makineleri susmu\u015f, yerini gayrimenkul tapular\u0131 alm\u0131\u015ft\u0131r.<\/p>\n<h2>2. 5 Milyar Liral\u0131k Dev \u015eirket ve Yaln\u0131zca 4 \u00c7al\u0131\u015fan\u0131<\/h2>\n<p>Bir \u015firketin b\u00fcy\u00fckl\u00fc\u011f\u00fcn\u00fc anlamak i\u00e7in genellikle toplam varl\u0131klar\u0131na bak\u0131l\u0131r. S\u00f6nmez Filament&#8217;in toplam varl\u0131klar\u0131 <b>5.029.434.405 TL<\/b>, yani 5 milyar TL&#8217;nin \u00fczerinde. Bu, olduk\u00e7a b\u00fcy\u00fck bir ekonomik yap\u0131ya i\u015faret ediyor.<\/p>\n<p>Peki, bu 5 milyar liral\u0131k devasa varl\u0131\u011f\u0131 y\u00f6neten ka\u00e7 ki\u015fi var? Raporun 1 numaral\u0131 dipnotundaki \u015fu ifade, en \u015fa\u015f\u0131rt\u0131c\u0131 bilgiyi veriyor: <i>&#8220;\u00e7al\u0131\u015fan personelin ortalama say\u0131s\u0131 4\u2019t\u00fcr.&#8221;<\/i><\/p>\n<p>Evet, yanl\u0131\u015f okumad\u0131n\u0131z. 5 milyar TL&#8217;lik varl\u0131\u011fa sahip bir \u015firket yaln\u0131zca d\u00f6rt ki\u015fi taraf\u0131ndan y\u00f6netiliyor. Bu, ki\u015fi ba\u015f\u0131na 1.25 milyar liral\u0131k bir varl\u0131k y\u00f6netimi anlam\u0131na gelir; bu oran, en verimli teknoloji devlerini bile g\u00f6lgede b\u0131rak\u0131r ve bir sanayi tesisi i\u00e7in hayal dahi edilemez. \u015eirketin ana faaliyetinin \u00fcretim de\u011fil, gayrimenkul ve yat\u0131r\u0131m y\u00f6netimi oldu\u011funu anlad\u0131\u011f\u0131m\u0131zda bu durum anlam kazan\u0131yor. Bu yap\u0131, \u015firketin bir \u00fcretim operasyonu yerine bir varl\u0131k y\u00f6netim veya holding \u015firketi gibi i\u015fledi\u011finin en somut kan\u0131tlar\u0131ndan biri.<\/p>\n<h2>3. Zarar Ederken Milyonlarca Lira Temett\u00fc Da\u011f\u0131tmak<\/h2>\n<p>Finansal raporlar\u0131 okurken kar\u015f\u0131la\u015f\u0131lan en kafa kar\u0131\u015ft\u0131r\u0131c\u0131 durumlardan biri de &#8220;paradokslard\u0131r&#8221;. S\u00f6nmez Filament&#8217;in raporu, bu konuda da ilgi \u00e7ekici bir \u00f6rnek sunuyor.<\/p>\n<ul>\n<li><b>D\u00f6nem Performans\u0131:<\/b> Kapsaml\u0131 Gelir Tablosu&#8217;na g\u00f6re \u015firket, 1 Ocak 2025 &#8211; 30 Eyl\u00fcl 2025 d\u00f6nemini <b>34.252.317 TL net zararla<\/b> kapatm\u0131\u015f.<\/li>\n<li><b>K\u00e2r Pay\u0131 Da\u011f\u0131t\u0131m\u0131:<\/b> \u00d6zkaynaklar De\u011fi\u015fim Tablosu ise ayn\u0131 d\u00f6nemde ortaklara <b>49.000.000 TL temett\u00fc (k\u00e2r pay\u0131)<\/b> da\u011f\u0131t\u0131ld\u0131\u011f\u0131n\u0131 g\u00f6steriyor.<\/li>\n<\/ul>\n<p>\u0130lk bak\u0131\u015fta bu durum bir \u00e7eli\u015fki gibi g\u00f6r\u00fcn\u00fcyor: Bir \u015firket zarar ederken nas\u0131l olur da k\u00e2r pay\u0131 da\u011f\u0131tabilir?<\/p>\n<p>Bunu bir hane halk\u0131 b\u00fct\u00e7esine benzetebiliriz: Bu ayki maa\u015f\u0131n\u0131zla zarar etmi\u015f olsan\u0131z bile, bankadaki birikim hesab\u0131n\u0131zdan para \u00e7ekerek \u00f6nemli bir harcama yapabilirsiniz. \u015eirketin &#8220;Ge\u00e7mi\u015f Y\u0131llar Karlar\u0131&#8221; da i\u015fte bu birikim hesab\u0131d\u0131r. Bu durumun s\u0131rr\u0131, bilan\u00e7onun &#8220;Ge\u00e7mi\u015f Y\u0131llar Karlar\u0131&#8221; kaleminde sakl\u0131. \u015eirketin bu kalemde 2025 y\u0131l\u0131 ba\u015f\u0131nda <b>3.5 milyar TL&#8217;yi a\u015fan (3.560.057.260 TL)<\/b> devasa bir birikmi\u015f k\u00e2r\u0131 bulunuyordu. Dolay\u0131s\u0131yla, 49 milyon liral\u0131k temett\u00fc, mevcut d\u00f6nemdeki zarardan de\u011fil, \u015firketin on y\u0131llar boyunca biriktirdi\u011fi bu muazzam finansal rezervden rahatl\u0131kla \u00f6denebilmi\u015ftir. Bu durum, \u015firketin ge\u00e7mi\u015fteki finansal g\u00fcc\u00fcn\u00fc g\u00f6sterirken, mevcut d\u00f6nemdeki operasyonel performans\u0131na dair de \u00f6nemli bir ipucu veriyor.<\/p>\n<h2>Sonu\u00e7<\/h2>\n<p>S\u00f6nmez Filament \u00f6rne\u011finde g\u00f6rd\u00fc\u011f\u00fcm\u00fcz \u00fc\u00e7 \u015fa\u015f\u0131rt\u0131c\u0131 nokta (isminin faaliyetleriyle \u00e7eli\u015fmesi, devasa varl\u0131klar\u0131n\u0131n \u00e7ok az \u00e7al\u0131\u015fanla y\u00f6netilmesi ve zarar ederken temett\u00fc da\u011f\u0131tabilmesi), finansal raporlar\u0131n g\u00fcc\u00fcn\u00fc ortaya koyuyor. Bu belgeler, sadece denet\u00e7iler ve analistler i\u00e7in haz\u0131rlanm\u0131\u015f s\u0131k\u0131c\u0131 rakam y\u0131\u011f\u0131nlar\u0131 de\u011fildir. Do\u011fru okundu\u011funda, bir \u015firketin i\u015f modelini, stratejisini ve hatta &#8220;ruhunu&#8221; ortaya koyan detayl\u0131 hikayeler anlat\u0131rlar.<\/p>\n<p>Genellikle g\u00f6z ard\u0131 etti\u011fimiz di\u011fer \u015firket raporlar\u0131n\u0131n sat\u0131r aralar\u0131nda acaba daha ne gibi ilgin\u00e7 hikayeler sakl\u0131d\u0131r?<\/p>\n<p>&nbsp;<\/p>\n<h1><span style=\"color: #0000ff;\">S\u00f6nmez Filament Sentetik \u0130plik ve Elyaf Sanayii A.\u015e. Faaliyet ve Finansal Durum Bilgilendirme Notu (01.01.2025 &#8211; 30.09.2025)<\/span><\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu bilgilendirme notu, S\u00f6nmez Filament Sentetik \u0130plik ve Elyaf Sanayii A.\u015e.&#8217;nin 1 Ocak 2025 &#8211; 30 Eyl\u00fcl 2025 d\u00f6nemine ait faaliyet raporu ve ara d\u00f6nem finansal tablolar\u0131n\u0131 sentezleyerek \u015firketin kurumsal yap\u0131s\u0131, operasyonel performans\u0131, finansal durumu ve risk y\u00f6netimi politikalar\u0131 hakk\u0131nda kapsaml\u0131 bir analiz sunmaktad\u0131r.<\/p>\n<p>D\u00f6nemin \u00f6ne \u00e7\u0131kan finansal sonucu, \u015firketin 30 Eyl\u00fcl 2025&#8217;te sona eren dokuz ayl\u0131k d\u00f6nemde <b>34.252.317 TL net zarar<\/b> a\u00e7\u0131klamas\u0131d\u0131r. Bu, bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6neminde kaydedilen 29.721.558 TL&#8217;lik net k\u00e2ra k\u0131yasla \u00f6nemli bir de\u011fi\u015fimi g\u00f6stermektedir. Bu zarar\u0131n temel nedeni, \u015firketin operasyonel k\u00e2rl\u0131l\u0131\u011f\u0131ndaki bir d\u00fc\u015f\u00fc\u015ften ziyade, yat\u0131r\u0131m ama\u00e7l\u0131 gayrimenkullerin de\u011ferlemesinden kaynaklanan <b>223.858.370 TL tutar\u0131ndaki ertelenmi\u015f vergi gideridir<\/b>. \u015eirketin esas faaliyet k\u00e2r\u0131, 31.889.791 TL olarak ger\u00e7ekle\u015ferek operasyonel bazda pozitif seyrini s\u00fcrd\u00fcrm\u00fc\u015ft\u00fcr.<\/p>\n<p>Finansal yap\u0131 a\u00e7\u0131s\u0131ndan \u015firket, g\u00fc\u00e7l\u00fc pozisyonunu korumaktad\u0131r. 30 Eyl\u00fcl 2025 itibar\u0131yla toplam varl\u0131klar\u0131 <b>5,03 milyar TL<\/b>&#8216;ye ula\u015fm\u0131\u015f olup, \u00f6zkaynaklar\u0131 <b>4,35 milyar TL<\/b> seviyesindedir. Varl\u0131k yap\u0131s\u0131, b\u00fcy\u00fck \u00f6l\u00e7\u00fcde <b>3,34 milyar TL<\/b> de\u011ferindeki yat\u0131r\u0131m ama\u00e7l\u0131 gayrimenkuller ve <b>1,59 milyar TL<\/b> de\u011ferindeki \u00f6zkaynak y\u00f6ntemiyle de\u011ferlenen yat\u0131r\u0131mlardan olu\u015fmaktad\u0131r. \u015eirketin finansal borcu bulunmamaktad\u0131r ve <b>9,20<\/b>&#8216;lik cari oran ile likidite pozisyonu olduk\u00e7a g\u00fc\u00e7l\u00fcd\u00fcr.<\/p>\n<p>Risk y\u00f6netimi \u00e7er\u00e7evesinde, \u015firket faaliyet, likidite, kredi ve faiz oran\u0131 risklerini etkin bir \u015fekilde y\u00f6netmektedir. Finansal borcunun olmamas\u0131, kredi ve faiz riskini ortadan kald\u0131r\u0131rken, g\u00fc\u00e7l\u00fc nakit pozisyonu likidite riskini en aza indirmektedir. \u015eirketin s\u00fcreklili\u011fini tehdit eden herhangi bir bulguya rastlanmam\u0131\u015ft\u0131r ve finansal yap\u0131s\u0131 sa\u011flam olarak de\u011ferlendirilmektedir.<\/p>\n<h2>1. Kurumsal Yap\u0131 ve Y\u00f6netim<\/h2>\n<h3>1.1. Genel Bilgiler<\/h3>\n<p>S\u00f6nmez Filament Sentetik \u0130plik ve Elyaf Sanayii A.\u015e., Bursa&#8217;da kurulu olup ana faaliyet konular\u0131 sentetik iplik \u00fcretimi ve m\u00fclkiyetindeki gayrimenkullerin kiraya verilmesidir. \u015eirket hisseleri 23 Eyl\u00fcl 1991&#8217;den beri Borsa \u0130stanbul&#8217;da (B\u0130ST) i\u015flem g\u00f6rmektedir.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Bilgi Kategorisi<\/td>\n<td>Detay<\/td>\n<\/tr>\n<tr>\n<td><b>Ticaret Unvan\u0131<\/b><\/td>\n<td>S\u00d6NMEZ F\u0130LAMENT SENTET\u0130K \u0130PL\u0130K VE ELYAF SANAY\u0130\u0130 A.\u015e.<\/td>\n<\/tr>\n<tr>\n<td><b>Raporlama D\u00f6nemi<\/b><\/td>\n<td>01\/01\/2025 &#8211; 30\/09\/2025<\/td>\n<\/tr>\n<tr>\n<td><b>Ticaret Sicil Numaras\u0131<\/b><\/td>\n<td>15725<\/td>\n<\/tr>\n<tr>\n<td><b>Merkez Adresi<\/b><\/td>\n<td>Fethiyeosb Mh. Ali Osman S\u00f6nmez Bulvar\u0131 No:1 16159 Nil\u00fcfer\/BURSA<\/td>\n<\/tr>\n<tr>\n<td><b>\u0130nternet Sitesi<\/b><\/td>\n<td>www.sonmezfilament.com.tr<\/td>\n<\/tr>\n<tr>\n<td><b>\u00c7\u0131kar\u0131lm\u0131\u015f Sermaye<\/b><\/td>\n<td>74.000.000,00 TL<\/td>\n<\/tr>\n<tr>\n<td><b>Personel Say\u0131s\u0131<\/b><\/td>\n<td>4 (Ortalama)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>1.2. Ortakl\u0131k Yap\u0131s\u0131<\/h3>\n<p>30 Eyl\u00fcl 2025 itibar\u0131yla \u015firketin ortakl\u0131k yap\u0131s\u0131 a\u015fa\u011f\u0131da detayland\u0131r\u0131lm\u0131\u015ft\u0131r. S\u00f6nmez Ailesi, \u015firket \u00fczerinde do\u011frudan %51,13 ve ba\u011fl\u0131 ortakl\u0131klarla birlikte efektif olarak %93,65&#8217;lik bir paya sahip olup y\u00f6netim kontrol\u00fcn\u00fc elinde bulundurmaktad\u0131r.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Orta\u011f\u0131n Ad\u0131\/Soyad\u0131<\/td>\n<td>Sermayedeki Pay\u0131 (TL)<\/td>\n<td>Sermayedeki Pay\u0131 (%)<\/td>\n<\/tr>\n<tr>\n<td>CELAL S\u00d6NMEZ<\/td>\n<td>24.019.870,25<\/td>\n<td>32,46<\/td>\n<\/tr>\n<tr>\n<td>S\u00d6NMEZ END\u00dcSTR\u0130 HOLD\u0130NG A.\u015e.<\/td>\n<td>13.287.934,38<\/td>\n<td>17,96<\/td>\n<\/tr>\n<tr>\n<td>S\u00d6NMEZ ASF A.\u015e.<\/td>\n<td>12.531.139,08<\/td>\n<td>16,93<\/td>\n<\/tr>\n<tr>\n<td>S\u00d6NMEZ PAMUKLU SANAY\u0130\u0130 A.\u015e.<\/td>\n<td>4.507.704,14<\/td>\n<td>6,09<\/td>\n<\/tr>\n<tr>\n<td>CEM\u0130L S\u00d6NMEZ<\/td>\n<td>4.411.446,66<\/td>\n<td>5,96<\/td>\n<\/tr>\n<tr>\n<td>OSMAN S\u00d6NMEZ<\/td>\n<td>5.023.703,88<\/td>\n<td>6,79<\/td>\n<\/tr>\n<tr>\n<td>AL\u0130 CEM S\u00d6NMEZ<\/td>\n<td>4.381.401,76<\/td>\n<td>5,92<\/td>\n<\/tr>\n<tr>\n<td>S\u00d6NMEZ GAYR\u0130MENKUL A.\u015e.<\/td>\n<td>1.588.285,57<\/td>\n<td>2,15<\/td>\n<\/tr>\n<tr>\n<td>D\u0130\u011eER (Halka A\u00e7\u0131k)<\/td>\n<td>4.248.514,28<\/td>\n<td>5,74<\/td>\n<\/tr>\n<tr>\n<td><b>TOPLAM<\/b><\/td>\n<td><b>74.000.000,00<\/b><\/td>\n<td><b>100,00<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>1.3. Y\u00f6netim Kurulu<\/h3>\n<p>Y\u00f6netim Kurulu \u00fcyelerinin g\u00f6rev s\u00fcreleri \u00fc\u00e7 y\u0131ld\u0131r.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Ad\u0131 \u2013 Soyad\u0131<\/td>\n<td>G\u00f6revi<\/td>\n<td>Ba\u011f\u0131ms\u0131z \u00dcye Olup Olmad\u0131\u011f\u0131<\/td>\n<\/tr>\n<tr>\n<td>Celal S\u00f6nmez<\/td>\n<td>Y\u00f6netim Kurulu Ba\u015fkan\u0131<\/td>\n<td>Ba\u011f\u0131ms\u0131z de\u011fil<\/td>\n<\/tr>\n<tr>\n<td>Ali Cem S\u00f6nmez<\/td>\n<td>Y\u00f6netim Kurulu Ba\u015fkan Vekili<\/td>\n<td>Ba\u011f\u0131ms\u0131z de\u011fil<\/td>\n<\/tr>\n<tr>\n<td>Osman S\u00f6nmez<\/td>\n<td>Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<td>Ba\u011f\u0131ms\u0131z de\u011fil<\/td>\n<\/tr>\n<tr>\n<td>Cemil S\u00f6nmez<\/td>\n<td>Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<td>Ba\u011f\u0131ms\u0131z de\u011fil<\/td>\n<\/tr>\n<tr>\n<td>\u015eerif S\u00f6zbir<\/td>\n<td>Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<td>Ba\u011f\u0131ms\u0131z de\u011fil<\/td>\n<\/tr>\n<tr>\n<td>\u00d6mer Parlak<\/td>\n<td>Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<td>Ba\u011f\u0131ms\u0131z \u00dcye<\/td>\n<\/tr>\n<tr>\n<td>Osman Kazanc\u0131<\/td>\n<td>Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<td>Ba\u011f\u0131ms\u0131z \u00dcye<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Y\u00f6netim kurulu \u00fcyeleri ve \u00fcst d\u00fczey y\u00f6neticilere sa\u011flanan huzur hakk\u0131, \u00fccret, prim gibi mali menfaatlerin toplam tutar\u0131 <b>328.343,87 TL<\/b>&#8216;dir.<\/p>\n<h2>2. Faaliyet Performans\u0131 ve \u00d6nemli Geli\u015fmeler<\/h2>\n<h3>2.1. Faaliyet Alanlar\u0131 ve Has\u0131lat<\/h3>\n<p>\u015eirketin ana faaliyetleri sentetik iplik \u00fcretimi ve gayrimenkul kiralama olup, esas gelirlerinin tamam\u0131na yak\u0131n\u0131 kira gelirlerinden olu\u015fmaktad\u0131r.<\/p>\n<ul>\n<li><b>Has\u0131lat:<\/b> 01.01.2025 &#8211; 30.09.2025 d\u00f6neminde, tamam\u0131 yurti\u00e7i sat\u0131\u015flardan kaynaklanan <b>40.557.770 TL<\/b> has\u0131lat elde edilmi\u015ftir. Bu rakam, bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemindeki 42.126.585 TL&#8217;lik has\u0131lata g\u00f6re hafif bir d\u00fc\u015f\u00fc\u015f g\u00f6stermektedir.<\/li>\n<li><b>Br\u00fct K\u00e2r:<\/b> Sat\u0131\u015flar\u0131n maliyeti olmad\u0131\u011f\u0131ndan, br\u00fct k\u00e2r has\u0131lat tutar\u0131na e\u015fittir.<\/li>\n<\/ul>\n<h3>2.2. Yat\u0131r\u0131mlar ve Ar-Ge<\/h3>\n<p>Raporlama d\u00f6nemi i\u00e7erisinde \u015firket taraf\u0131ndan yap\u0131lm\u0131\u015f bir yat\u0131r\u0131m veya Ara\u015ft\u0131rma ve Geli\u015ftirme (Ar-Ge) faaliyeti bulunmamaktad\u0131r.<\/p>\n<h3>2.3. \u0130\u015ftirakler ve Ba\u011fl\u0131 Ortakl\u0131klar<\/h3>\n<p>\u015eirket, \u00f6zkaynak y\u00f6ntemiyle de\u011ferledi\u011fi iki \u00f6nemli i\u015ftirake sahiptir. Bu yat\u0131r\u0131mlar \u015firketin finansal sonu\u00e7lar\u0131na \u00f6nemli katk\u0131 sa\u011flamaktad\u0131r.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>\u0130\u015ftirak Ad\u0131<\/td>\n<td>Ana Faaliyeti<\/td>\n<td>Pay Oran\u0131 (%)<\/td>\n<td>9 Ayl\u0131k K\u00e2rdan Pay (TL)<\/td>\n<\/tr>\n<tr>\n<td>S\u00f6nmez Pamuklu Sanayii A.\u015e.<\/td>\n<td>Tekstil<\/td>\n<td>5,33<\/td>\n<td>1.365.785<\/td>\n<\/tr>\n<tr>\n<td>S\u00f6nmez \u00c7imento Yap\u0131 ve Madencilik A.\u015e.<\/td>\n<td>\u00c7imento \u00dcretimi<\/td>\n<td>15,00<\/td>\n<td>58.139.387<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Katk\u0131<\/b><\/td>\n<td><\/td>\n<td><\/td>\n<td><b>59.505.172<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>3. Finansal Durum Analizi<\/h2>\n<h3>3.1. Bilan\u00e7o \u00d6zeti<\/h3>\n<p>\u015eirketin finansal durumu, b\u00fcy\u00fck \u00f6l\u00e7\u00fcde duran varl\u0131klara dayal\u0131 g\u00fc\u00e7l\u00fc bir yap\u0131 sergilemektedir. Toplam varl\u0131klar bir \u00f6nceki y\u0131l sonuna g\u00f6re s\u0131n\u0131rl\u0131 bir art\u0131\u015f g\u00f6stermi\u015ftir.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Bilan\u00e7o Kalemleri (TL)<\/td>\n<td>30 Eyl\u00fcl 2025<\/td>\n<td>31 Aral\u0131k 2024<\/td>\n<\/tr>\n<tr>\n<td>D\u00f6nen Varl\u0131klar<\/td>\n<td>94.761.562<\/td>\n<td>72.251.456<\/td>\n<\/tr>\n<tr>\n<td>Duran Varl\u0131klar<\/td>\n<td>4.934.672.843<\/td>\n<td>4.945.551.813<\/td>\n<\/tr>\n<tr>\n<td><i>Yat\u0131r\u0131m Ama\u00e7l\u0131 Gayrimenkuller<\/i><\/td>\n<td><i>3.336.427.036<\/i><\/td>\n<td><i>3.336.427.036<\/i><\/td>\n<\/tr>\n<tr>\n<td><i>\u00d6zkaynak Y\u00f6nt. De\u011f. Yat\u0131r\u0131mlar<\/i><\/td>\n<td><i>1.585.881.035<\/i><\/td>\n<td><i>1.595.508.337<\/i><\/td>\n<\/tr>\n<tr>\n<td><b>TOPLAM VARLIKLAR<\/b><\/td>\n<td><b>5.029.434.405<\/b><\/td>\n<td><b>5.017.803.269<\/b><\/td>\n<\/tr>\n<tr>\n<td>K\u0131sa Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler<\/td>\n<td>10.289.056<\/td>\n<td>27.418.005<\/td>\n<\/tr>\n<tr>\n<td>Uzun Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler<\/td>\n<td>665.475.133<\/td>\n<td>553.501.949<\/td>\n<\/tr>\n<tr>\n<td><i>Ertelenmi\u015f Vergi Y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fc<\/i><\/td>\n<td><i>664.915.601<\/i><\/td>\n<td><i>553.267.154<\/i><\/td>\n<\/tr>\n<tr>\n<td><b>TOPLAM Y\u00dcK\u00dcML\u00dcL\u00dcKLER<\/b><\/td>\n<td><b>675.764.189<\/b><\/td>\n<td><b>580.919.954<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>\u00d6ZKAYNAKLAR<\/b><\/td>\n<td><b>4.353.670.216<\/b><\/td>\n<td><b>4.436.883.315<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>TOPLAM KAYNAKLAR<\/b><\/td>\n<td><b>5.029.434.405<\/b><\/td>\n<td><b>5.017.803.269<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>3.2. Gelir Tablosu \u00d6zeti<\/h3>\n<p>\u015eirket, operasyonel olarak k\u00e2rl\u0131 olmas\u0131na ra\u011fmen, y\u00fcksek ertelenmi\u015f vergi gideri nedeniyle d\u00f6nemi net zararla kapatm\u0131\u015ft\u0131r.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Gelir Tablosu Kalemleri (TL)<\/td>\n<td>01.01.2025 &#8211; 30.09.2025<\/td>\n<td>01.01.2024 &#8211; 30.09.2024<\/td>\n<\/tr>\n<tr>\n<td>Has\u0131lat (Kira Gelirleri)<\/td>\n<td>40.557.770<\/td>\n<td>42.126.585<\/td>\n<\/tr>\n<tr>\n<td>Esas Faaliyet K\u00e2r\u0131<\/td>\n<td>31.889.791<\/td>\n<td>31.246.430<\/td>\n<\/tr>\n<tr>\n<td>Finansman Gideri \u00d6ncesi Faaliyet K\u00e2r\u0131<\/td>\n<td>91.394.963<\/td>\n<td>124.486.061<\/td>\n<\/tr>\n<tr>\n<td>S\u00fcrd\u00fcr\u00fclen Faaliyetler Vergi \u00d6ncesi K\u00e2r\u0131<\/td>\n<td>190.776.744<\/td>\n<td>65.518.437<\/td>\n<\/tr>\n<tr>\n<td>Vergi Gideri (Cari + Ertelenmi\u015f)<\/td>\n<td>(225.029.061)<\/td>\n<td>(35.796.879)<\/td>\n<\/tr>\n<tr>\n<td><b>D\u00d6NEM NET ZARARI \/ (K\u00c2RI)<\/b><\/td>\n<td><b>(34.252.317)<\/b><\/td>\n<td><b>29.721.558<\/b><\/td>\n<\/tr>\n<tr>\n<td>Pay Ba\u015f\u0131na Kazan\u00e7 \/ (Kay\u0131p)<\/td>\n<td>(0,46)<\/td>\n<td>0,40<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>3.3. Finansal Oranlar<\/h3>\n<p>Finansal oranlar, \u015firketin g\u00fc\u00e7l\u00fc likidite yap\u0131s\u0131n\u0131 ve bor\u00e7suz finansman modelini teyit etmektedir.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Oran<\/td>\n<td>30 Eyl\u00fcl 2025<\/td>\n<td>31 Aral\u0131k 2024<\/td>\n<td>A\u00e7\u0131klama<\/td>\n<\/tr>\n<tr>\n<td><b>Likidite Oranlar\u0131<\/b><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Cari Oran<\/td>\n<td>9,20<\/td>\n<td>2,63<\/td>\n<td>\u00c7ok g\u00fc\u00e7l\u00fc likidite pozisyonu.<\/td>\n<\/tr>\n<tr>\n<td><b>Kald\u0131ra\u00e7 Oranlar\u0131<\/b><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Yabanc\u0131 Kaynaklar \/ Toplam Varl\u0131klar<\/td>\n<td>0,13<\/td>\n<td>0,12<\/td>\n<td>D\u00fc\u015f\u00fck bor\u00e7luluk seviyesi.<\/td>\n<\/tr>\n<tr>\n<td>\u00d6zsermaye \/ Toplam Varl\u0131klar<\/td>\n<td>0,87<\/td>\n<td>0,88<\/td>\n<td>Varl\u0131klar\u0131n b\u00fcy\u00fck k\u0131sm\u0131 \u00f6zkaynaklarla finanse edilmektedir.<\/td>\n<\/tr>\n<tr>\n<td><b>K\u00e2rl\u0131l\u0131k Oranlar\u0131<\/b><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>\u00d6zsermaye K\u00e2rl\u0131l\u0131\u011f\u0131<\/td>\n<td>0,04<\/td>\n<td>0,08<\/td>\n<td>Vergi \u00f6ncesi k\u00e2r baz al\u0131nm\u0131\u015ft\u0131r.<\/td>\n<\/tr>\n<tr>\n<td>Esas Faaliyet K\u00e2r Marj\u0131<\/td>\n<td>0,79<\/td>\n<td>0,75<\/td>\n<td>Operasyonel verimlilik korunmaktad\u0131r.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>3.4. Nakit Ak\u0131\u015f\u0131<\/h3>\n<p>D\u00f6nem i\u00e7inde faaliyetlerden g\u00fc\u00e7l\u00fc nakit yarat\u0131lm\u0131\u015f, bu nakit b\u00fcy\u00fck \u00f6l\u00e7\u00fcde temett\u00fc \u00f6demesi i\u00e7in kullan\u0131lm\u0131\u015ft\u0131r.<\/p>\n<ul>\n<li><b>\u0130\u015fletme Faaliyetlerinden Nakit Ak\u0131\u015f\u0131:<\/b> 54.552.451 TL<\/li>\n<li><b>Yat\u0131r\u0131m Faaliyetlerinden Nakit Ak\u0131\u015f\u0131:<\/b> (123.372) TL (Maddi duran varl\u0131k al\u0131m\u0131)<\/li>\n<li><b>Finansman Faaliyetlerinden Nakit Ak\u0131\u015f\u0131:<\/b> (51.320.709) TL (B\u00fcy\u00fck k\u0131sm\u0131 49.000.000 TL&#8217;lik temett\u00fc \u00f6demesidir)<\/li>\n<li><b>Nakit ve Nakit Benzerlerindeki Net Art\u0131\u015f:<\/b> 16.210.051 TL (Enflasyon etkisi dahil)<\/li>\n<li><b>D\u00f6nem Sonu Nakit ve Nakit Benzerleri:<\/b> 80.833.138 TL<\/li>\n<\/ul>\n<h2>4. Risk Y\u00f6netimi ve De\u011ferlendirmeler<\/h2>\n<p>\u015eirket y\u00f6netimi, finansal ve operasyonel riskleri d\u00fczenli olarak de\u011ferlendirmektedir. Faaliyet raporuna g\u00f6re \u015firketin risk profili d\u00fc\u015f\u00fckt\u00fcr.<\/p>\n<h3>4.1. Faaliyet Riskleri<\/h3>\n<ul>\n<li><b>\u0130\u015f (Faaliyet) Riski:<\/b> Y\u00f6neticiler taraf\u0131ndan belirsiz bir ortam yarataca\u011f\u0131, olas\u0131 \u00f6nemli sonu\u00e7lar\u0131, organizasyonun hedeflerini ger\u00e7ekle\u015ftirmesini etkileyebilece\u011fi konusundaki \u015f\u00fcpheleri ifade eder. Verimlilik kay\u0131plar\u0131, k\u00f6t\u00fc \u00e7al\u0131\u015fma ortam\u0131 gibi riskler mevcuttur.<\/li>\n<li><b>Kira Gelirleri Riski:<\/b> D\u00f6viz piyasas\u0131ndaki y\u00fcksek kur art\u0131\u015f\u0131 kar\u015f\u0131s\u0131nda gelir ak\u0131\u015f\u0131n\u0131 istikrarl\u0131 k\u0131labilmek i\u00e7in kirac\u0131lar ile anla\u015farak cari kurdan daha d\u00fc\u015f\u00fck bir kur \u00fczerinden kira tahsilat\u0131 yap\u0131lm\u0131\u015ft\u0131r. Bu durum, ekonomik konjonkt\u00fcr\u00fcn yans\u0131mas\u0131 olarak de\u011ferlendirilmektedir.<\/li>\n<\/ul>\n<h3>4.2. Finansal Riskler<\/h3>\n<ul>\n<li><b>Kredi Riski:<\/b> \u015eirketin finansal borcu bulunmad\u0131\u011f\u0131ndan kredi geri \u00f6deyememe gibi bir riski s\u00f6z konusu de\u011fildir. M\u00fc\u015fteri alacaklar\u0131na ili\u015fkin kredi riski ise y\u00f6netilmektedir.<\/li>\n<li><b>Faiz Oran\u0131 Riski:<\/b> \u015eirketin de\u011fi\u015fken faizli finansal ara\u00e7lar\u0131 bulunmad\u0131\u011f\u0131ndan faiz riskine maruz kalmamaktad\u0131r.<\/li>\n<li><b>Likidite Riski:<\/b> \u015eirketin net nakit \u00e7\u0131k\u0131\u015f\u0131n\u0131 finanse edememe durumu bulunmamaktad\u0131r. Mevcut durumda \u015firket, zaman ve maliyet \u00e7er\u00e7evesinde varl\u0131klar\u0131n\u0131 elden \u00e7\u0131karma gibi bir gereklilik i\u00e7inde de\u011fildir.<\/li>\n<li><b>Kur Riski:<\/b> Finansal tablolara g\u00f6re \u015firketin yabanc\u0131 para cinsinden varl\u0131k veya y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fc bulunmamaktad\u0131r, bu nedenle kur riskine maruz de\u011fildir.<\/li>\n<\/ul>\n<h3>4.3. \u0130\u015fletmenin S\u00fcreklili\u011fi ve Finansal Yap\u0131<\/h3>\n<p>Faaliyet raporunda \u015firketin borca bat\u0131kl\u0131k durumunun s\u00f6z konusu olmad\u0131\u011f\u0131 ve finansal yap\u0131s\u0131n\u0131n g\u00fc\u00e7l\u00fc oldu\u011fu belirtilmi\u015ftir. \u0130\u015fletmenin s\u00fcreklili\u011fini tehlikeye d\u00fc\u015f\u00fcrecek herhangi bir bulguya rastlanmam\u0131\u015ft\u0131r.<\/p>\n<button class=\"simplefavorite-button\" data-postid=\"121\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>5 Milyar Liral\u0131k \u015eirket, 4 \u00c7al\u0131\u015fan: Bir Finansal Raporun Anlatt\u0131\u011f\u0131 \u0130nan\u0131lmaz Hikaye Finansal raporlar&#8230; \u00c7o\u011fumuz i\u00e7in bu kelime grubu, anla\u015f\u0131lmas\u0131 zor rakam tablolar\u0131, dipnotlar ve s\u0131k\u0131c\u0131 muhasebe terimleriyle e\u015f anlaml\u0131d\u0131r. Genellikle g\u00f6z at\u0131p ge\u00e7ti\u011fimiz bu belgelerin, bir \u015firketin ger\u00e7ek do\u011fas\u0131n\u0131&#8230; <\/p>\n","protected":false},"author":1,"featured_media":145,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[6,23],"class_list":["post-121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-2025-09","tag-sonme"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/121","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=121"}],"version-history":[{"count":2,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/121\/revisions"}],"predecessor-version":[{"id":146,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/121\/revisions\/146"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media\/145"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media?parent=121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}