{"id":1326,"date":"2026-02-20T15:17:16","date_gmt":"2026-02-20T12:17:16","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=1326"},"modified":"2026-02-21T00:48:13","modified_gmt":"2026-02-20T21:48:13","slug":"%f0%9f%87%b9%f0%9f%87%b7-beste-best-brands-grup-2025-12-bilanco-analizi-27-kisiyle-milyarlar-yoneten-best-brands-enerji","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/1326","title":{"rendered":"\ud83c\uddf9\ud83c\uddf7 BESTE | Best Brands Grup 2025\/12 Bilan\u00e7o Analizi &#8211; 27 Ki\u015fiyle Milyarlar Y\u00f6neten Best Brands Enerji"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/creators.spotify.com\/pod\/profile\/market-risk-tr\/embed\/episodes\/BESTE--Best-Brands-Grup-20259-Bilano-Analizi---27-Kiiyle-Milyarlar-Yneten-Best-Brands-Enerji-e3fbunj\/a-acg1cph\" width=\"400px\" height=\"102px\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<h1>Enerjide Sessiz Devrim: Best Brands\u2019in 2025 Finansal Raporundan Gelece\u011fe I\u015f\u0131k Tutan 5 Kritik Ders<\/h1>\n<h2>1. Giri\u015f: Bir Enerji Devinin \u015eeffafl\u0131k Yolculu\u011fu<\/h2>\n<p>Yenilenebilir enerji sekt\u00f6r\u00fc, sadece teknolojik bir d\u00f6n\u00fc\u015f\u00fcm\u00fc de\u011fil, ayn\u0131 zamanda finansal stratejilerin ve operasyonel verimlili\u011fin yeniden tan\u0131mland\u0131\u011f\u0131 bir d\u00f6nemi temsil ediyor. Bu dinamik ekosistemin en dikkat \u00e7eken akt\u00f6rlerinden biri olan <b>Best Brands Grup Enerji Yat\u0131r\u0131m A.\u015e.<\/b>, 31 Aral\u0131k 2025 tarihli ba\u011f\u0131ms\u0131z denetim raporuyla kurumsal olgunlu\u011funu bir kez daha kan\u0131tlad\u0131.<\/p>\n<p>Bu rapor, \u015firketin \u015eubat 2026\u2019da ger\u00e7ekle\u015fen b\u00fcy\u00fck halka arz\u0131 \u00f6ncesindeki &#8220;son b\u00fcy\u00fck finansal foto\u011fraf\u0131&#8221; olmas\u0131 a\u00e7\u0131s\u0131ndan stratejik bir \u00f6neme sahip. Bir finansal analist g\u00f6z\u00fcyle bak\u0131ld\u0131\u011f\u0131nda, 4,7 milyar TL&#8217;yi a\u015fan toplam varl\u0131k yap\u0131s\u0131n\u0131n arkas\u0131nda sadece rakamlar de\u011fil; risk y\u00f6netimi, operasyonel sadele\u015fme ve ak\u0131ll\u0131ca kurgulanm\u0131\u015f bir &#8220;fonksiyonel para birimi&#8221; stratejisi yat\u0131yor. Bu yaz\u0131da, karma\u015f\u0131k finansal tablolar\u0131n \u00f6tesine ge\u00e7erek Best Brands\u2019in vizyoner b\u00fcy\u00fcme modelinden \u00e7\u0131kar\u0131lacak 5 kritik dersi analiz edece\u011fiz.<\/p>\n<h2>2. Para Birimi Paradoksu: Fonksiyonel Para Birimi Olarak ABD Dolar\u0131<\/h2>\n<p>Bir \u015firketin finansal sa\u011fl\u0131\u011f\u0131n\u0131 anlaman\u0131n ilk ad\u0131m\u0131, hangi ekonomik ger\u00e7eklik \u00fczerinden raporlama yapt\u0131\u011f\u0131n\u0131 kavramakt\u0131r. Best Brands, TMS 21 (Kur De\u011fi\u015fiminin Etkileri) \u00e7er\u00e7evesinde &#8220;Ge\u00e7erli Para Birimi&#8221; (Functional Currency) olarak ABD Dolar\u0131\u2019n\u0131 (USD) kullanmaktad\u0131r (Dipnot 2.1.5.1 ve 2.6.1).<\/p>\n<p>Bu tercih, bir &#8220;kur kumar\u0131&#8221; de\u011fil, aksine rasyonel bir hedging stratejisidir. \u015eirketin gelirlerinin Yenilenebilir Enerji Kaynaklar\u0131 Destekleme Mekanizmas\u0131 (YEKDEM) kapsam\u0131nda dolar bazl\u0131 olmas\u0131, finansal tablolar\u0131n ekonomik \u00f6zle uyumlu olmas\u0131n\u0131 zorunlu k\u0131lmaktad\u0131r. Bu model, T\u00fcrk Liras\u0131\u2019ndaki dalgalanmalar\u0131n yaratabilece\u011fi yapay kur fark\u0131 risklerini minimize etmektedir. Ba\u011f\u0131ms\u0131z denetim raporunda bu stratejik hamle \u015fu s\u00f6zlerle tescillenmi\u015ftir:<\/p>\n<p>&#8220;\u015eirket\u2019in faaliyet gelirlerinin tamam\u0131 ve faaliyet giderlerinin \u00f6nemli b\u00f6l\u00fcm\u00fc USD para birimi ile ger\u00e7ekle\u015fmektedir&#8230; Ge\u00e7erli para biriminin T\u00fcrk liras\u0131 olmas\u0131 ger\u00e7ek\u00e7i olmayan kur farklar\u0131n\u0131n olu\u015fmas\u0131na yol a\u00e7maktad\u0131r.&#8221;<\/p>\n<h2>3. K\u00e2rl\u0131l\u0131k Analizi: %56\u2019l\u0131k Art\u0131\u015f\u0131n Perde Arkas\u0131<\/h2>\n<p>\u015eirketin net d\u00f6nem k\u00e2r\u0131, 2024 y\u0131l\u0131ndaki 122.002.089 TL seviyesinden 2025 sonunda <b>190.257.696 TL<\/b> seviyesine y\u00fckselerek %56 oran\u0131nda bir s\u0131\u00e7rama ger\u00e7ekle\u015ftirmi\u015ftir. Bu b\u00fcy\u00fcmenin ana bile\u015feni has\u0131lat\u0131n 345.482.207 TL\u2019den <b>448.686.813 TL<\/b>\u2019ye (Dipnot 22) ula\u015fmas\u0131d\u0131r. Ancak derinlemesine bir analiz, bu art\u0131\u015f\u0131n sadece operasyonel sat\u0131\u015flardan kaynaklanmad\u0131\u011f\u0131n\u0131 g\u00f6stermektedir.<\/p>\n<p><b>Finansman Gelirleri Analizi:<\/b> Dipnot 25 incelendi\u011finde, 2024 y\u0131l\u0131nda 129.246.505 TL olan finansman gelirlerinin 2025\u2019te <b>226.241.670 TL<\/b>\u2019ye ula\u015ft\u0131\u011f\u0131 g\u00f6r\u00fclmektedir. Bu kalemin i\u00e7indeki aslan pay\u0131, 224.283.725 TL ile &#8220;Kur Fark\u0131 Gelirleri-Ge\u00e7erli Para Birimi \u00c7evrimi&#8221; kalemine aittir. Yani k\u00e2rl\u0131l\u0131k, YEKDEM kapsam\u0131ndaki dolar endeksli sat\u0131\u015flar\u0131n yan\u0131 s\u0131ra, fonksiyonel para birimi kullan\u0131m\u0131 sayesinde elde edilen \u00e7evrim kazan\u00e7lar\u0131yla da g\u00fc\u00e7lendirilmi\u015ftir. 4,7 milyar TL&#8217;lik varl\u0131k taban\u0131na kar\u015f\u0131n, ertelenmi\u015f vergi y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcn\u00fcn (Ertelenmi\u015f Vergi Y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fc &#8211; Dipnot 19.2) 770.576.622 TL seviyesinde olmas\u0131, uzun vadeli finansal planlaman\u0131n ciddiyetini ortaya koymaktad\u0131r.<\/p>\n<h2>4. Operasyonel Sadele\u015fme: Alt\u0131 \u015eirketten Dev Bir Yap\u0131ya<\/h2>\n<p>Best Brands\u2019in bug\u00fcnk\u00fc operasyonel \u00e7evikli\u011finin temelinde 31 May\u0131s 2023\u2019te ger\u00e7ekle\u015fen &#8220;Kolayla\u015ft\u0131r\u0131lm\u0131\u015f \u015eekilde Birle\u015fme&#8221; (Dipnot 3.2) hamlesi yatmaktad\u0131r. Bu s\u00fcre\u00e7te;<\/p>\n<ul>\n<li>Lacivert Enerji San. ve Tic. A.\u015e,<\/li>\n<li>Ventis Enerji G\u0131da Turizm San. ve Tic. A.\u015e,<\/li>\n<li>Erz Ges Enerji San. ve Tic. A.\u015e.,<\/li>\n<li>Akyarlar Enerji \u0130n\u015faat Tar\u0131m Hayv. \u0130th. \u0130hr. A.\u015e.,<\/li>\n<li>BB Yenil. Enerji Tek. ve M\u00fch. Hiz. Ltd,<\/li>\n<li>Turaz En. \u0130n\u015f. San. ve Tic. Ltd. \u015eti.<\/li>\n<\/ul>\n<p>unvanl\u0131 6 \u015firket tek bir \u00e7at\u0131 alt\u0131nda toplanm\u0131\u015ft\u0131r. Bu birle\u015fme, y\u00f6netim maliyetlerini d\u00fc\u015f\u00fcrm\u00fc\u015f ve kurumsal y\u00f6netim kalitesini art\u0131rm\u0131\u015ft\u0131r. Analitik bir detay olarak, 4,79 milyar TL&#8217;lik devasa bir varl\u0131\u011f\u0131 y\u00f6neten ortalama personel say\u0131s\u0131n\u0131n sadece 27 (2024&#8217;te 26 idi) olmas\u0131 (Dipnot 1.3), \u015firketin ne denli y\u00fcksek bir otomasyon ve verimlilikle \u00e7al\u0131\u015ft\u0131\u011f\u0131n\u0131n kan\u0131t\u0131d\u0131r. Ayr\u0131ca, varl\u0131klar\u0131n <b>24.950.000 USD<\/b> tutar\u0131nda sigorta g\u00fcvencesinde olmas\u0131 (Dipnot 12), risk disiplininin operasyonel her a\u015famada s\u00fcrd\u00fcr\u00fcld\u00fc\u011f\u00fcn\u00fc g\u00f6stermektedir.<\/p>\n<h2>5. Nakit Y\u00f6netimi: Likidite Rasyolar\u0131nda Agresif G\u00fc\u00e7lenme<\/h2>\n<p>\u015eirketin nakit y\u00f6netim stratejisi 2025 y\u0131l\u0131nda radikal bir de\u011fi\u015fim g\u00f6stermi\u015ftir. 2024 sonunda 11.262.460 TL olan nakit ve nakit benzerleri kalemi, 2025 sonu itibar\u0131yla <b>68.795.052 TL<\/b> seviyesine \u00e7\u0131karak 6 kat\u0131ndan fazla bir art\u0131\u015f kaydetmi\u015ftir (Dipnot 6).<\/p>\n<p>Bu likidite art\u0131\u015f\u0131, \u015firketin finansal hareket kabiliyetini zirveye ta\u015f\u0131m\u0131\u015ft\u0131r. Net Bor\u00e7 \/ Toplam Sermaye oran\u0131n\u0131n %25&#8217;ten %23&#8217;e gerilemesi (Dipnot 28.1), b\u00fcy\u00fcmenin bor\u00e7la de\u011fil, \u00f6zkaynak ve likidite g\u00fcc\u00fcyle desteklendi\u011fini kan\u0131tlar niteliktedir. 265,5 milyon TL&#8217;lik k\u0131sa vadeli y\u00fck\u00fcml\u00fcl\u00fc\u011fe kar\u015f\u0131l\u0131k eldeki bu nakit g\u00fcc\u00fc, \u015firketin finansal stres testlerinden ba\u015far\u0131yla ge\u00e7mesini sa\u011flamaktad\u0131r.<\/p>\n<h2>6. Final Hamlesi: 800 Bin Ortakl\u0131 Halka Arz Ba\u015far\u0131s\u0131<\/h2>\n<p>Raporlama d\u00f6neminden hemen sonra, \u015eubat 2026\u2019da ger\u00e7ekle\u015fen halka arz, Best Brands i\u00e7in bir &#8220;ba\u015far\u0131 tescili&#8221; olmu\u015ftur (Dipnot 31). Bu s\u00fcre\u00e7te toplam <b>796.578 yat\u0131r\u0131mc\u0131n\u0131n<\/b> kat\u0131l\u0131m\u0131yla 54.578.570 TL nominal de\u011ferli pay da\u011f\u0131t\u0131lm\u0131\u015f; \u015firketin 150.000.000 TL olan \u00e7\u0131kar\u0131lm\u0131\u015f sermayesi <b>188.205.000,00 TL<\/b>\u2019ye ula\u015fm\u0131\u015ft\u0131r.<\/p>\n<p>Bireysel ve kurumsal yat\u0131r\u0131mc\u0131lar\u0131n bu yo\u011fun ilgisi, \u015firketin 2025 raporundaki \u015feffafl\u0131\u011f\u0131na ve s\u00fcrd\u00fcr\u00fclebilir enerji modeline duyulan g\u00fcvenin bir sonucudur. Sermayenin tabana yay\u0131lmas\u0131, Best Brands\u2019in sadece bir enerji \u00fcreticisi de\u011fil, geni\u015f kitlelerin ortak oldu\u011fu bir enerji ekosistemi haline geldi\u011fini simgelemektedir.<\/p>\n<h2>7. Sonu\u00e7: Yar\u0131n\u0131n Enerjisi \u0130\u00e7in Sa\u011flam Temeller<\/h2>\n<p>Best Brands Grup Enerji\u2019nin 2025 performans\u0131; d\u00f6viz risklerini f\u0131rsata \u00e7eviren finansal zekas\u0131, operasyonel birle\u015fmelerle sa\u011flanan \u00e7evikli\u011fi ve disiplinli nakit y\u00f6netimiyle yenilenebilir enerji sekt\u00f6r\u00fc i\u00e7in bir model olu\u015fturuyor. Halka arzla birlikte artan sermaye g\u00fcc\u00fc, \u015firketin T\u00fcrkiye&#8217;nin ye\u015fil enerji d\u00f6n\u00fc\u015f\u00fcm\u00fcndeki liderlik vizyonunu peki\u015ftiriyor.<\/p>\n<p>Bireysel yat\u0131r\u0131mc\u0131lar\u0131n yenilenebilir enerjiye olan bu yo\u011fun ilgisi, T\u00fcrkiye&#8217;nin enerji d\u00f6n\u00fc\u015f\u00fcm\u00fcnde sadece finansal de\u011fil, toplumsal bir d\u00f6n\u00fcm noktas\u0131n\u0131 da temsil ediyor olabilir mi?<\/p>\n<h1><span style=\"color: #3366ff;\">Best Brands Grup Enerji Yat\u0131r\u0131m A.\u015e. 2025 Y\u0131l\u0131 Bilgilendirme Belgesi<\/span><\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu belge, Best Brands Grup Enerji Yat\u0131r\u0131m A.\u015e.&#8217;nin (&#8220;\u015eirket&#8221;) 01 Ocak \u2013 31 Aral\u0131k 2025 hesap d\u00f6nemine ait ba\u011f\u0131ms\u0131z denetim raporu ve finansal tablolar\u0131ndan elde edilen kritik verileri sentezlemektedir.<\/p>\n<p>31 Aral\u0131k 2025 itibar\u0131yla \u015eirket&#8217;in finansal durumu, ba\u011f\u0131ms\u0131z denet\u00e7i taraf\u0131ndan T\u00fcrkiye Finansal Raporlama Standartlar\u0131na (TFRS) uygun olarak &#8220;t\u00fcm \u00f6nemli y\u00f6nleriyle ger\u00e7e\u011fe uygun bir bi\u00e7imde&#8221; sunulmu\u015ftur. \u015eirket, 2025 y\u0131l\u0131n\u0131 <b>190.257.696 TL<\/b> net d\u00f6nem k\u00e2r\u0131 ile kapatm\u0131\u015f olup, bu rakam bir \u00f6nceki y\u0131l\u0131n (122.002.089 TL) %56 \u00fczerinde bir performansa i\u015faret etmektedir. D\u00f6nem sonu itibar\u0131yla toplam varl\u0131klar <b>4,8 milyar TL<\/b> seviyesine ula\u015f\u0131rken, \u00f6zkaynaklar <b>3,64 milyar TL<\/b> olarak ger\u00e7ekle\u015fmi\u015ftir. Raporlama d\u00f6neminden sonra ger\u00e7ekle\u015fen en \u00f6nemli geli\u015fme, \u015eirket&#8217;in \u015eubat 2026&#8217;da ba\u015far\u0131yla tamamlanan halka arz\u0131 ve sermayesinin 188.205.000 TL&#8217;ye y\u00fckseltilmesidir.<\/p>\n<h2>1. Kurumsal Profil ve Faaliyet Konusu<\/h2>\n<p>Best Brands Grup Enerji Yat\u0131r\u0131m A.\u015e., 23 Kas\u0131m 2018 tarihinde kurulmu\u015f olup temel faaliyet alan\u0131 yenilenebilir enerji kaynaklar\u0131ndan, \u00f6zellikle g\u00fcne\u015f enerjisinden (GES) elektrik \u00fcretimi ve ticaretidir.<\/p>\n<ul>\n<li><b>Faaliyet Alan\u0131:<\/b> Elektrik \u00fcretim tesisi kurulmas\u0131, i\u015fletilmesi, kiralanmas\u0131 ve \u00fcretilen enerjinin sat\u0131\u015f\u0131.<\/li>\n<li><b>Merkez:<\/b> Kavac\u0131k, Beykoz &#8211; \u0130stanbul.<\/li>\n<li><b>\u0130stihdam:<\/b> 2025 y\u0131l\u0131 itibar\u0131yla ortalama \u00e7al\u0131\u015fan say\u0131s\u0131 27&#8217;dir.<\/li>\n<li><b>Sermaye Yap\u0131s\u0131:<\/b> 2025 y\u0131l\u0131 i\u00e7erisinde Proton Turizm G\u0131da Sanayi ve Tic. A.\u015e.&#8217;ye ait %50 hisse S\u00fcrkit Holding A.\u015e. taraf\u0131ndan devral\u0131nm\u0131\u015ft\u0131r. 31 Aral\u0131k 2025 itibar\u0131yla S\u00fcrkit Holding A.\u015e. \u015firketin %100 pay sahibidir.<\/li>\n<\/ul>\n<h2>2. Ba\u011f\u0131ms\u0131z Denet\u00e7i G\u00f6r\u00fc\u015f\u00fc ve Kilit Denetim Konular\u0131<\/h2>\n<p>\u00c7\u00f6z\u00fcm \u00dcnl\u00fcer Ba\u011f\u0131ms\u0131z Denetim ve YMM A.\u015e. (Nexia International \u00fcyesi) taraf\u0131ndan haz\u0131rlanan rapor, \u015eirket&#8217;in finansal tablolar\u0131 hakk\u0131nda <b>olumlu g\u00f6r\u00fc\u015f<\/b> bildirmi\u015ftir.<\/p>\n<h3>2.1. Kilit Denetim Konusu: Has\u0131lat\u0131n Muhasebele\u015ftirilmesi<\/h3>\n<p>Denet\u00e7iler, has\u0131lat\u0131n muhasebele\u015ftirilmesini kilit denetim konusu olarak belirlemi\u015ftir. Bunun temel nedenleri:<\/p>\n<ul>\n<li>Has\u0131lat\u0131n finansal performans de\u011ferlendirmesinde en \u00f6nemli g\u00f6sterge olmas\u0131.<\/li>\n<li>31 Aral\u0131k 2025 itibar\u0131yla elde edilen <b>448.686.813 TL<\/b> tutar\u0131ndaki has\u0131lat\u0131n b\u00fcy\u00fck k\u0131sm\u0131n\u0131n Yenilenebilir Enerji Kaynaklar\u0131 Destekleme Mekanizmas\u0131 (YEKDEM) kapsam\u0131nda elektrik sat\u0131\u015f\u0131ndan elde edilmesi.<\/li>\n<li>TFRS-15 kapsam\u0131nda edim y\u00fck\u00fcml\u00fcl\u00fcklerinin yerine getirilmesi ve kontrol\u00fcn m\u00fc\u015fteriye ge\u00e7i\u015finin de\u011ferlendirilmesinin \u00f6nemi.<\/li>\n<\/ul>\n<h2>3. Finansal Performans Analizi<\/h2>\n<h3>3.1. Gelir Tablosu \u00d6zeti<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem (TL)<\/td>\n<td>2025<\/td>\n<td>2024<\/td>\n<\/tr>\n<tr>\n<td>Has\u0131lat<\/td>\n<td>448.686.813<\/td>\n<td>345.482.207<\/td>\n<\/tr>\n<tr>\n<td>Sat\u0131\u015flar\u0131n Maliyeti<\/td>\n<td>(323.651.484)<\/td>\n<td>(259.656.221)<\/td>\n<\/tr>\n<tr>\n<td>Br\u00fct K\u00e2r<\/td>\n<td>125.035.329<\/td>\n<td>85.825.986<\/td>\n<\/tr>\n<tr>\n<td>Esas Faaliyet K\u00e2r\u0131<\/td>\n<td>93.682.505<\/td>\n<td>50.458.753<\/td>\n<\/tr>\n<tr>\n<td><b>Net D\u00f6nem K\u00e2r\u0131<\/b><\/td>\n<td><b>190.257.696<\/b><\/td>\n<td><b>122.002.089<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>3.2. Finansal Durum (Bilan\u00e7o) \u00d6zeti<\/h3>\n<ul>\n<li><b>Toplam Varl\u0131klar:<\/b> 4.796.802.297 TL (2024: 3.982.532.555 TL).<\/li>\n<li><b>Duran Varl\u0131klar:<\/b> 4.675.160.289 TL ile toplam varl\u0131klar\u0131n %97&#8217;sinden fazlas\u0131n\u0131 olu\u015fturmaktad\u0131r. Bu kalemin temel bile\u015feni <b>4,66 milyar TL<\/b> de\u011ferindeki maddi duran varl\u0131klard\u0131r (enerji santralleri).<\/li>\n<li><b>Nakit ve Benzerleri:<\/b> 68.795.052 TL&#8217;ye y\u00fckselmi\u015ftir (2024: 11.262.460 TL).<\/li>\n<li><b>Toplam Bor\u00e7lanmalar:<\/b> K\u0131sa ve uzun vadeli banka kredileri dahil toplam finansal bor\u00e7lanmalar <b>332,7 milyon TL<\/b> seviyesindedir.<\/li>\n<\/ul>\n<h2>4. \u00d6nemli Muhasebe Politikalar\u0131 ve Risk Y\u00f6netimi<\/h2>\n<h3>4.1. Ge\u00e7erli Para Birimi<\/h3>\n<p>\u015eirket&#8217;in sat\u0131\u015flar\u0131n\u0131n tamam\u0131 Amerikan Dolar\u0131na (USD) endeksli oldu\u011fundan ve finansman faaliyetleri USD \u00fczerinden y\u00fcr\u00fct\u00fcld\u00fc\u011f\u00fcnden, ge\u00e7erli (fonksiyonel) para birimi <b>ABD Dolar\u0131<\/b> olarak belirlenmi\u015ftir. Finansal tablolar raporlama amac\u0131yla T\u00fcrk Liras\u0131na (TL) \u00e7evrilmi\u015ftir.<\/p>\n<h3>4.2. Maddi Duran Varl\u0131klar<\/h3>\n<p>Enerji Santralleri &#8220;Yeniden De\u011ferleme Modeli&#8221; ile takip edilmektedir. Di\u011fer maddi duran varl\u0131klar ise maliyet bedelinden amortisman d\u00fc\u015f\u00fclerek g\u00f6sterilmektedir.<\/p>\n<h3>4.3. Risk Y\u00f6netimi<\/h3>\n<ul>\n<li><b>Sermaye Riski:<\/b> Net Bor\u00e7 \/ Toplam Sermaye oran\u0131 %23 olarak ger\u00e7ekle\u015fmi\u015ftir (2024: %25).<\/li>\n<li><b>D\u00f6viz Riski:<\/b> \u015eirket&#8217;in net yabanc\u0131 para y\u00fck\u00fcml\u00fcl\u00fck pozisyonu 258.018.550 TL&#8217;dir.<\/li>\n<li><b>Likidite Riski:<\/b> \u015eirket varl\u0131klar\u0131n\u0131 b\u00fcy\u00fck oranda \u00f6zkaynak ile finanse ederek bu riski y\u00f6netmektedir.<\/li>\n<\/ul>\n<h2>5. \u0130li\u015fkili Taraf \u0130\u015flemleri<\/h2>\n<p>\u015eirket, normal i\u015fleyi\u015fi i\u00e7erisinde S\u00fcrkit Holding A.\u015e. ve ba\u011fl\u0131 di\u011fer grup \u015firketleri ile i\u015flemler ger\u00e7ekle\u015ftirmi\u015ftir.<\/p>\n<ul>\n<li><b>Finansman:<\/b> S\u00fcrkit Holding A.\u015e. taraf\u0131ndan \u015eirket&#8217;e sa\u011flanan finansman tutar\u0131 2025 y\u0131l\u0131 i\u00e7in 218.612.383 TL olarak kaydedilmi\u015ftir.<\/li>\n<li><b>\u00dcst D\u00fczey Y\u00f6netici Menfaatleri:<\/b> Y\u00f6netim kurulu \u00fcyeleri ve \u00fcst d\u00fczey y\u00f6neticilere sa\u011flanan faydalar toplam\u0131 7.121.589 TL&#8217;dir.<\/li>\n<\/ul>\n<h2>6. Raporlama D\u00f6neminden Sonraki Geli\u015fmeler: Halka Arz<\/h2>\n<p>\u015eirket tarihindeki en \u00f6nemli d\u00f6n\u00fcm noktalar\u0131ndan biri 2026 y\u0131l\u0131n\u0131n ba\u015f\u0131nda ger\u00e7ekle\u015fmi\u015ftir:<\/p>\n<ul>\n<li><b>Halka Arz Tarihi:<\/b> 05 \u2013 06 \u015eubat 2026.<\/li>\n<li><b>Kat\u0131l\u0131m:<\/b> Toplam 796.578 yat\u0131r\u0131mc\u0131ya 54.578.570 TL nominal de\u011ferli pay da\u011f\u0131t\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>Sermaye Art\u0131\u015f\u0131:<\/b> Halka arz sonucunda \u015eirket&#8217;in \u00e7\u0131kar\u0131lm\u0131\u015f sermayesi 150.000.000 TL&#8217;den <b>188.205.000 TL<\/b>&#8216;ye y\u00fckselmi\u015ftir.<\/li>\n<li><b>Borsa Kayd\u0131:<\/b> Paylar, Borsa \u0130stanbul Birincil Piyasa&#8217;da i\u015flem g\u00f6rmeye ba\u015flam\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<h2>7. \u00d6nemli Notlar ve Taahh\u00fctler<\/h2>\n<ul>\n<li><b>Sigorta:<\/b> \u015eirket, maddi duran varl\u0131klar\u0131n\u0131 24.950.000 USD kar\u015f\u0131l\u0131\u011f\u0131nda sigortalatm\u0131\u015ft\u0131r.<\/li>\n<li><b>Teminatlar (TR\u0130):<\/b> \u015eirket&#8217;in kendi t\u00fczel ki\u015fili\u011fi ad\u0131na verdi\u011fi toplam Teminat, Rehin ve \u0130potek (TR\u0130) tutar\u0131 yakla\u015f\u0131k <b>2,05 milyar TL<\/b> ve <b>5,53 milyar TL<\/b> (USD kar\u015f\u0131l\u0131\u011f\u0131 dahil) seviyesindedir. Bu teminatlar b\u00fcy\u00fck oranda kefalet ve alaca\u011f\u0131n temliki kalemlerinden olu\u015fmaktad\u0131r.<\/li>\n<li><b>Yat\u0131r\u0131mlar:<\/b> 2025 y\u0131l\u0131nda duran varl\u0131k al\u0131mlar\u0131ndan kaynaklanan nakit \u00e7\u0131k\u0131\u015f\u0131 49.204.258 TL olarak ger\u00e7ekle\u015fmi\u015ftir.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Best Brands Enerji\u2019den 2025 Y\u0131l\u0131nda G\u00fc\u00e7l\u00fc Performans ve Halka Arz M\u00fcjdesi!<br \/>\n\u00d6zet: Yenilenebilir enerji sekt\u00f6r\u00fcn\u00fcn y\u00fckselen oyuncusu Best Brands Grup Enerji Yat\u0131r\u0131m A.\u015e., 2025 y\u0131l\u0131 finansal sonu\u00e7lar\u0131n\u0131 a\u00e7\u0131klad\u0131. Y\u0131ll\u0131k has\u0131lat\u0131n\u0131 448,7 milyon TL\u2019ye \u00e7\u0131karan ve net k\u00e2r\u0131n\u0131 %56 oran\u0131nda art\u0131rarak 190 milyon TL baraj\u0131n\u0131 a\u015fan \u015firket, operasyonel g\u00fcc\u00fcn\u00fc kan\u0131tlad\u0131. 2026 y\u0131l\u0131 ba\u015f\u0131nda ger\u00e7ekle\u015fen ba\u015far\u0131l\u0131 halka arz s\u00fcreciyle sermaye yap\u0131s\u0131n\u0131 daha da g\u00fc\u00e7lendiren Best Brands Enerji&#8217;nin finansal karnesine ve gelecek hedeflerine dair t\u00fcm detaylar blog yaz\u0131m\u0131zda!<\/p>\n","protected":false},"author":6,"featured_media":971,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[265],"class_list":["post-1326","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-beste"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1326","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\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/comments?post=1326"}],"version-history":[{"count":5,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1326\/revisions"}],"predecessor-version":[{"id":1383,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1326\/revisions\/1383"}],"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=1326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=1326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=1326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}