{"id":1387,"date":"2026-02-21T03:33:13","date_gmt":"2026-02-21T00:33:13","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=1387"},"modified":"2026-02-21T05:13:33","modified_gmt":"2026-02-21T02:13:33","slug":"%f0%9f%87%b9%f0%9f%87%b7-nuhcm-nuh-cimento-sanayi-2025-12-faaliyet-raporu-analizi","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/1387","title":{"rendered":"\ud83c\uddf9\ud83c\uddf7 NUHCM | Nuh \u00c7imento Sanayi 2025\/12 Faaliyet Raporu Analizi"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/creators.spotify.com\/pod\/profile\/market-risk-tr\/embed\/episodes\/NUHCM--Nuh-imento-Sanayi-202512-Faaliyet-Raporu-Analizi---Nuh-imento-Liman-Gcyle-Krizde-Dev-Temett-e3fcun7\/a-acg2nlo\" height=\"102px\" width=\"400px\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<h1>Nuh \u00c7imento\u2019nun 2025 Yol Haritas\u0131: Sekt\u00f6r\u00fcn Devinden Gelece\u011fe Dair 5 Stratejik \u0130pucu<\/h1>\n<p><b>Giri\u015f: Devlerin Sessiz D\u00f6n\u00fc\u015f\u00fcm\u00fc<\/b><\/p>\n<p>\u00c7imento sekt\u00f6r\u00fc, d\u0131\u015far\u0131dan bak\u0131ld\u0131\u011f\u0131nda genellikle sadece &#8220;toz ve ta\u015f&#8221; d\u00fcnyas\u0131 olarak alg\u0131lan\u0131r. Ancak modern sanayide bu gri d\u00fcnya; asl\u0131nda devasa bir m\u00fchendislik, enerji y\u00f6netimi ve stratejik planlama arenas\u0131d\u0131r. Nuh \u00c7imento\u2019nun 2025 y\u0131l\u0131 faaliyet raporu, sadece bir bilan\u00e7olar dizisi de\u011fil; ekonomik dalgalanmalar\u0131n ve de\u011fi\u015fen k\u00fcresel standartlar\u0131n ortas\u0131nda bir sanayi devinin nas\u0131l teknoloji odakl\u0131 bir enerji merkezine d\u00f6n\u00fc\u015ft\u00fc\u011f\u00fcn\u00fcn hikayesini anlat\u0131yor. Bir sanayi devi, s\u0131k\u0131 para politikalar\u0131n\u0131n ve k\u00fcresel rekabetin keskinle\u015fti\u011fi bir d\u00f6nemde rotas\u0131n\u0131 nas\u0131l belirler? \u0130\u015fte raporun sat\u0131r aralar\u0131ndan \u00e7\u0131kan, stratejik derinli\u011fe sahip 5 temel ipucu.<\/p>\n<p><b>At\u0131k Is\u0131dan Enerji: Maliyet Liderli\u011finde &#8220;Operasyonel Kale&#8221;<\/b><\/p>\n<p>Nuh \u00c7imento i\u00e7in s\u00fcrd\u00fcr\u00fclebilirlik, bir halkla ili\u015fkiler faaliyeti de\u011fil, sekt\u00f6rdeki rekabet avantaj\u0131n\u0131 koruyan bir &#8220;maliyet liderli\u011fi&#8221; hamlesidir. \u015eirketin At\u0131k Is\u0131dan Elektrik \u00dcretimi (WHR) tesisi, 22 MW kapasitesiyle T\u00fcrkiye\u2019nin en b\u00fcy\u00fc\u011f\u00fc olma unvan\u0131n\u0131 korurken, operasyonel verimlili\u011fin de merkezinde yer al\u0131yor. Enerjinin en b\u00fcy\u00fck maliyet kalemi oldu\u011fu \u00e7imento \u00fcretiminde, ihtiyac\u0131n %25&#8217;ini at\u0131k gazdan kar\u015f\u0131lamak, \u015firketi enerji fiyatlar\u0131ndaki volatiliteye kar\u015f\u0131 koruyan stratejik bir kalkan i\u015flevi g\u00f6r\u00fcyor.<\/p>\n<p>Bu yat\u0131r\u0131m\u0131n analitik \u00e7\u0131kt\u0131s\u0131 iki y\u00f6nl\u00fcd\u00fcr:<\/p>\n<ul>\n<li><b>Ekonomik Moat:<\/b> Y\u0131ll\u0131k 139,6 Milyon KWh elektrik \u00fcretimi, do\u011frudan k\u00e2r marj\u0131n\u0131 destekleyen bir operasyonel avantajd\u0131r.<\/li>\n<li><b>\u00c7evresel Uyum:<\/b> Y\u0131ll\u0131k 60.936 ton CO2 sal\u0131n\u0131m\u0131n\u0131n engellenmesi, ICCI &#8220;Enerji Oscar\u0131&#8221; gibi \u00f6d\u00fcllerin \u00f6tesinde, Avrupa Ye\u015fil Mutabakat\u0131 ve karbon s\u0131n\u0131r d\u00fczenlemelerine kar\u015f\u0131 haz\u0131rl\u0131kl\u0131 olundu\u011funu kan\u0131tlamaktad\u0131r.<\/li>\n<\/ul>\n<p>\u015eirket, bu tesisin de\u011ferini \u015fu s\u00f6zlerle tescillemektedir:<\/p>\n<p>&#8220;Tesis elektrik t\u00fcketiminin yakla\u015f\u0131k %25\u2019i at\u0131k \u0131s\u0131dan geri kazan\u0131m ile sa\u011flanmaya ba\u015flanm\u0131\u015ft\u0131r. Y\u0131lda 139,6 Milyon KWh elektrik enerjisi \u00fcreterek \u015firket ve \u00fclke menfaatlerine katk\u0131da bulunmaktad\u0131r.&#8221;<\/p>\n<p><b>Portf\u00f6y Budama: \u00c7ekirdek \u0130\u015fe Odaklanma ve Varl\u0131k Optimizasyonu<\/b><\/p>\n<p>2025 y\u0131l\u0131, Nuh \u00c7imento i\u00e7in &#8220;stratejik sadele\u015fme&#8221; y\u0131l\u0131 olarak kay\u0131tlara ge\u00e7mi\u015ftir. \u015eirket, y\u00f6netim enerjisini ve finansal kaynaklar\u0131n\u0131 as\u0131l uzmanl\u0131k alan\u0131 olan \u00e7imento ve yap\u0131 \u00fcr\u00fcnlerine odaklamak amac\u0131yla portf\u00f6y\u00fcn\u00fc yeniden yap\u0131land\u0131rm\u0131\u015ft\u0131r. Bu kapsamda at\u0131lan ad\u0131mlar, sadece birer tasfiye de\u011fil, &#8220;etkin ve verimli kullan\u0131m&#8221; hedefinin birer par\u00e7as\u0131d\u0131r:<\/p>\n<ul>\n<li><b>Nuh Gayrimenkul:<\/b> Grup b\u00fcnyesindeki gayrimenkullerin daha etkin ve verimli bir \u015fekilde kullan\u0131lmas\u0131n\u0131 sa\u011flamak amac\u0131yla 16 May\u0131s 2025 itibar\u0131yla Nuh \u00c7imento taraf\u0131ndan devral\u0131nm\u0131\u015ft\u0131r.<\/li>\n<li><b>Stratejik \u00c7ekilme:<\/b> Hollanda merkezli Navig Holding ve t\u0131bbi bitkiler alan\u0131nda faaliyet g\u00f6steren Nuh Agro Tar\u0131m\u2019\u0131n tasfiyesine karar verilmi\u015ftir.<\/li>\n<\/ul>\n<p>Bu &#8220;portf\u00f6y budama&#8221; s\u00fcreci, sanayi devinin sermayesini verimsiz alanlardan \u00e7ekerek, operasyonel m\u00fckemmelli\u011fe odakland\u0131\u011f\u0131n\u0131n en somut g\u00f6stergesidir.<\/p>\n<p><b>&#8220;Dream Team&#8221; Y\u00f6netim: Reg\u00fclasyon ve Finans\u0131n Pedigresi<\/b><\/p>\n<p>Bir \u015firketin stratejik dayan\u0131kl\u0131l\u0131\u011f\u0131, y\u00f6netim kurulunun disiplinleraras\u0131 derinli\u011fi ile \u00f6l\u00e7\u00fcl\u00fcr. Nuh \u00c7imento, adeta finans, hukuk ve teknoloji d\u00fcnyas\u0131n\u0131n zirve isimlerinden olu\u015fan bir kadroyla y\u00f6netilmektedir:<\/p>\n<ul>\n<li><b>Tevfik Bilgin (Ba\u015fkan):<\/b> Eski BDDK ve TMSF Ba\u015fkan\u0131, Halkbank eski Genel M\u00fcd\u00fcr\u00fc; bankac\u0131l\u0131k ve reg\u00fclasyonun en deneyimli isimlerinden.<\/li>\n<li><b>Tevfik K\u0131n\u0131k (Ba\u011f\u0131ms\u0131z \u00dcye):<\/b> Eski SPK Ba\u015fkan Yard\u0131mc\u0131s\u0131 ve Harvard mezunu; sermaye piyasas\u0131 d\u00fczenlemeleri ve d\u00f6n\u00fc\u015f\u00fcm s\u00fcre\u00e7lerinde uzman.<\/li>\n<li><b>Aclan Acar (Ba\u011f\u0131ms\u0131z \u00dcye):<\/b> Merkez Bankas\u0131 ve Do\u011fu\u015f Grubu k\u00f6kenli; bankac\u0131l\u0131k ve otomotiv sekt\u00f6rlerinde \u00fcst d\u00fczey liderlik tecr\u00fcbesine sahip.<\/li>\n<li><b>Emin Ethem Kutucular (Ba\u011f\u0131ms\u0131z \u00dcye):<\/b> Arthur Andersen ve EY b\u00fcnyesinde enerji sekt\u00f6r\u00fc liderli\u011fi yapm\u0131\u015f, denetim ve kurumsal finansman veteran\u0131.<\/li>\n<li><b>Elif Bilgehan M\u00fcft\u00fco\u011flu (Ba\u011f\u0131ms\u0131z \u00dcye):<\/b> GS1 Avrupa Ba\u015fkan Yard\u0131mc\u0131s\u0131; dijital \u00fcr\u00fcn pasaportu ve d\u00f6ng\u00fcsel ekonomi konular\u0131nda k\u00fcresel bir otorite.<\/li>\n<\/ul>\n<p>Y\u00f6neti\u015fimdeki ciddiyet, komitelerin \u00e7al\u0131\u015fma s\u0131kl\u0131\u011f\u0131na da yans\u0131m\u0131\u015ft\u0131r. <b>Denetimden Sorumlu Komite<\/b> ve <b>Riskin Erken Saptanmas\u0131 Komitesi<\/b> 2025 y\u0131l\u0131nda 6\u2019\u015far kez toplanarak aktif bir denetim mekanizmas\u0131 i\u015fletirken; Kurumsal Y\u00f6netim ve Aday G\u00f6sterme komiteleri ise stratejik odakl\u0131 \u00e7al\u0131\u015fmalar\u0131n\u0131 s\u00fcrd\u00fcrm\u00fc\u015ft\u00fcr.<\/p>\n<p><b>\u0130nsan Sermayesi: A\u011f\u0131r Sanayide &#8220;\u0130nsan Odakl\u0131&#8221; Verimlilik<\/b><\/p>\n<p>Nuh \u00c7imento, toplumsal sorumlulu\u011fu bir &#8220;hay\u0131rseverlik&#8221; faaliyetinden ziyade s\u00fcrd\u00fcr\u00fclebilirlik stratejisinin bir par\u00e7as\u0131 olarak konumland\u0131r\u0131yor. 2025 y\u0131l\u0131nda ger\u00e7ekle\u015ftirilen <b>62.001.120 TL<\/b> tutar\u0131ndaki ba\u011f\u0131\u015f, \u015firketin toplumsal ekosistemle kurdu\u011fu ba\u011f\u0131 temsil ederken, \u00e7al\u0131\u015fan haklar\u0131ndaki hassasiyet operasyonel devaml\u0131l\u0131\u011f\u0131 per\u00e7inliyor.<\/p>\n<p>Sekt\u00f6rde \u00e7al\u0131\u015fan ba\u011fl\u0131l\u0131\u011f\u0131n\u0131 art\u0131ran unsurlar aras\u0131nda; kapsam i\u00e7i \u00e7al\u0131\u015fanlara sa\u011flanan <b>120 g\u00fcnl\u00fck ikramiye<\/b>, \u00e7e\u015fitli sosyal yard\u0131mlar ve kamuya ilan edilen &#8220;\u0130nsan Haklar\u0131 Politikas\u0131&#8221; \u00f6ne \u00e7\u0131kmaktad\u0131r. Borsa \u0130stanbul S\u00fcrd\u00fcr\u00fclebilirlik Endeksi\u2019ndeki varl\u0131k, bu insan odakl\u0131 yakla\u015f\u0131m\u0131n kurumsal bir tescilidir.<\/p>\n<p><b>Finansal Dayan\u0131kl\u0131l\u0131k: &#8220;Fortress Balance Sheet&#8221; Stratejisi<\/b><\/p>\n<p>2025 y\u0131l\u0131 finansal verileri, sekt\u00f6rdeki makroekonomik zorluklar\u0131 ve \u015firketin bunlara kar\u015f\u0131 \u00f6rd\u00fc\u011f\u00fc savunma hatt\u0131n\u0131 net bir \u015fekilde ortaya koymaktad\u0131r. Net k\u00e2r\u0131n 2,4 milyar TL\u2019den 746 milyon TL seviyesine gerilemesi; d\u00fc\u015f\u00fck enerji maliyetli \u00fclkelerin agresif fiyatlamas\u0131, d\u00f6viz kurlar\u0131n\u0131n beklentileri kar\u015f\u0131lamamas\u0131 ve uygulanan s\u0131k\u0131 para politikalar\u0131n\u0131n bir sonucudur.<\/p>\n<p>Buna ra\u011fmen, Nuh \u00c7imento &#8220;Kale Bilan\u00e7o&#8221; (Fortress Balance Sheet) yap\u0131s\u0131n\u0131 korumay\u0131 ba\u015farm\u0131\u015ft\u0131r:<\/p>\n<ul>\n<li><b>Cari Oran:<\/b> 3,59\u2019dan 4,45\u2019e y\u00fckselmi\u015ftir.<\/li>\n<li><b>Nakit Oran\u0131:<\/b> 2,23\u2019ten 2,94\u2019e \u00e7\u0131karak, y\u00fcksek faiz ortam\u0131nda \u015firketin likidite g\u00fcc\u00fcn\u00fc per\u00e7inlemi\u015ftir.<\/li>\n<\/ul>\n<p>Y\u00f6netim kurulunun &#8220;\u015eirket sermayesi kar\u015f\u0131l\u0131ks\u0131z kalmam\u0131\u015ft\u0131r ve borca bat\u0131k de\u011fildir&#8221; \u015feklindeki beyan\u0131, k\u00e2rl\u0131l\u0131k bask\u0131s\u0131 alt\u0131ndaki bir d\u00f6nemde bile sermaye yap\u0131s\u0131n\u0131n ne kadar sars\u0131lmaz oldu\u011funu g\u00f6stermektedir.<\/p>\n<p><b>Sonu\u00e7: 2026 ve \u00d6tesine Bak\u0131\u015f<\/b><\/p>\n<p>Sekt\u00f6r analizleri; 2026\u2019da enflasyonun gerilemesi, deprem b\u00f6lgesi projelerinin s\u00fcrmesi ve kentsel d\u00f6n\u00fc\u015f\u00fcm\u00fcn h\u0131zlanmas\u0131yla bir toparlanma beklemektedir. Nuh \u00c7imento; enerji \u00f6z yeterlili\u011fi, g\u00fc\u00e7l\u00fc likidite rasyolar\u0131 ve sadele\u015fmi\u015f portf\u00f6y\u00fc ile bu yeni d\u00f6neme haz\u0131rd\u0131r.<\/p>\n<p>Peki, karbon s\u0131n\u0131r d\u00fczenlemelerinin ve ye\u015fil d\u00f6n\u00fc\u015f\u00fcm\u00fcn kap\u0131da oldu\u011fu bir d\u00fcnyada, geleneksel bir sanayi devi teknoloji ve \u00e7evre odakl\u0131 bir enerji santraline d\u00f6n\u00fc\u015febilir mi? Nuh \u00c7imento\u2019nun 2025 faaliyet raporu, bu d\u00f6n\u00fc\u015f\u00fcm\u00fcn sadece m\u00fcmk\u00fcn de\u011fil, hayati oldu\u011funu kan\u0131tl\u0131yor.<\/p>\n<h1><span style=\"color: #3366ff;\">Bilgi Notu: Nuh \u00c7imento Sanayi A.\u015e. 2025 Y\u0131l\u0131 Faaliyet Raporu Analizi<\/span><\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Nuh \u00c7imento Sanayi A.\u015e. (Grup), 2025 mali y\u0131l\u0131nda k\u00fcresel ekonomik yava\u015flama ve s\u0131k\u0131 para politikalar\u0131n\u0131n damga vurdu\u011fu zorlu bir piyasa konjonkt\u00fcr\u00fcnde faaliyetlerini s\u00fcrd\u00fcrm\u00fc\u015ft\u00fcr. \u015eirket, klinker \u00fcretim kapasitesini %96 gibi y\u00fcksek bir oranla kullanarak operasyonel verimlili\u011fini korumu\u015f, ancak net d\u00f6nem k\u00e2r\u0131nda bir \u00f6nceki y\u0131la oranla belirgin bir d\u00fc\u015f\u00fc\u015f (2,4 milyar TL&#8217;den 746,3 milyon TL&#8217;ye) ya\u015fam\u0131\u015ft\u0131r. Buna ra\u011fmen, grubun finansal yap\u0131s\u0131 ve likidite oranlar\u0131 (cari oran 4,45) g\u00fc\u00e7l\u00fc kalmaya devam etmi\u015ftir. 2025 y\u0131l\u0131, grubun s\u00fcrd\u00fcr\u00fclebilirlik odakl\u0131 d\u00f6n\u00fc\u015f\u00fcm\u00fc, 2050 net s\u0131f\u0131r karbon yol haritas\u0131 ve kurumsal y\u00f6netim ilkelerine uyum konusundaki kararl\u0131l\u0131\u011f\u0131n\u0131n peki\u015fti\u011fi bir d\u00f6nem olmu\u015ftur.<\/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;<\/p>\n<h2>1. Kurumsal Yap\u0131 ve Y\u00f6neti\u015fim<\/h2>\n<h3>Sermaye ve Ortakl\u0131k Yap\u0131s\u0131<\/h3>\n<p>\u015eirketin 31.12.2025 itibar\u0131yla \u00f6denmi\u015f sermayesi <b>150.213.600 TL<\/b>&#8216;dir. Ortakl\u0131k yap\u0131s\u0131nda y\u0131l i\u00e7inde maj\u00f6r bir de\u011fi\u015fiklik ger\u00e7ekle\u015fmemi\u015ftir:<\/p>\n<ul>\n<li><b>Nuh Ticaret ve Sanayi A.\u015e.:<\/b> %44,13<\/li>\n<li><b>Parta\u015f Capital Dan\u0131\u015fmanl\u0131k A.\u015e.:<\/b> %16,32<\/li>\n<li><b>Halka A\u00e7\u0131k K\u0131s\u0131m:<\/b> %18,92<\/li>\n<li><b>Di\u011fer:<\/b> %20,63<\/li>\n<\/ul>\n<h3>Y\u00f6netim Kurulu ve Komiteler<\/h3>\n<p>Y\u00f6netim Kurulu, 22 Mart 2025 tarihinde se\u00e7ilmi\u015f olup 14 \u00fcyeden olu\u015fmaktad\u0131r (5 ba\u011f\u0131ms\u0131z \u00fcye). Kurul, 2025 y\u0131l\u0131nda 32 toplant\u0131 yapm\u0131\u015f ve 99 karar alm\u0131\u015ft\u0131r. Etkin bir denetim i\u00e7in d\u00f6rt ana komite faaliyet g\u00f6stermektedir:<\/p>\n<ul>\n<li><b>Denetimden Sorumlu Komite:<\/b> Finansal raporlama ve i\u00e7 denetim sisteminin g\u00f6zetimi.<\/li>\n<li><b>Kurumsal Y\u00f6netim Komitesi:<\/b> \u0130lkelerle uyumun izlenmesi (\u00dccret Komitesi g\u00f6revlerini de y\u00fcr\u00fct\u00fcr).<\/li>\n<li><b>Riskin Erken Saptanmas\u0131 Komitesi:<\/b> Stratejik, finansal ve operasyonel risklerin analizi.<\/li>\n<li><b>Aday G\u00f6sterme Komitesi:<\/b> Y\u00f6netim kurulu yap\u0131s\u0131 ve ba\u011f\u0131ms\u0131z \u00fcye adaylar\u0131n\u0131n de\u011ferlendirilmesi.<\/li>\n<\/ul>\n<h3>Ba\u011fl\u0131 Ortakl\u0131klar ve Yap\u0131sal De\u011fi\u015fiklikler<\/h3>\n<p>2025 y\u0131l\u0131nda grup yap\u0131s\u0131nda verimlilik odakl\u0131 sadele\u015fmeye gidilmi\u015ftir:<\/p>\n<ul>\n<li><b>Birle\u015fme:<\/b> Nuh Gayrimenkul \u0130n\u015faat A.\u015e., 16 May\u0131s 2025 tarihinde Nuh \u00c7imento b\u00fcnyesinde birle\u015fmi\u015ftir.<\/li>\n<li><b>Tasfiyeler:<\/b> Navig Holding Trade B.V. (Hollanda) ve Nuh Agro Tar\u0131m A.\u015e. tasfiye edilerek kapat\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>Aktif Ortakl\u0131klar:<\/b> Nuh Beton A.\u015e., Nuh Yap\u0131 \u00dcr\u00fcnleri A.\u015e. ve \u00c7im-Nak Ta\u015f\u0131mac\u0131l\u0131k Ltd. \u015eti. faaliyetlerine tam kapasite devam etmektedir.<\/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>2. Operasyonel Performans ve \u00dcretim Kapasitesi<\/h2>\n<p>Grup, tek lokasyonda Avrupa&#8217;n\u0131n ve T\u00fcrkiye&#8217;nin en b\u00fcy\u00fck klinker \u00fcreticisi konumundad\u0131r.<\/p>\n<h3>Kapasite Kullan\u0131m Oranlar\u0131<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>\u00dcr\u00fcn Grubu<\/td>\n<td>2024 Kapasite Kullan\u0131m\u0131<\/td>\n<td>2025 Kapasite Kullan\u0131m\u0131<\/td>\n<\/tr>\n<tr>\n<td>Klinker<\/td>\n<td>%88<\/td>\n<td>%96<\/td>\n<\/tr>\n<tr>\n<td>\u00c7imento<\/td>\n<td>%66<\/td>\n<td>%73<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>\u00dcretim Tesisleri ve Altyap\u0131<\/h3>\n<ul>\n<li><b>D\u00f6ner F\u0131r\u0131nlar:<\/b> Toplam 4,6 milyon ton\/y\u0131l kapasiteli 3 adet f\u0131r\u0131n.<\/li>\n<li><b>De\u011firmenler:<\/b> Toplam 4 adet \u00e7imento de\u011firmeni ve 1 adet dik katk\u0131 de\u011firmeni.<\/li>\n<li><b>At\u0131k Is\u0131dan Elektrik \u00dcretimi (WHR):<\/b> T\u00fcrkiye\u2019nin en b\u00fcy\u00fck kapasiteli tesisi olup saatte 22 MW elektrik \u00fcretmektedir. Tesis, \u015firketin elektrik ihtiyac\u0131n\u0131n <b>%25&#8217;ini<\/b> kar\u015f\u0131lamakta ve y\u0131ll\u0131k <b>60.936 ton CO2<\/b> sal\u0131n\u0131m\u0131n\u0131 engellemektedir.<\/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>3. Finansal Analiz<\/h2>\n<p>2025 y\u0131l\u0131 finansal verileri, sat\u0131\u015f gelirlerinde ve k\u00e2rl\u0131l\u0131k marjlar\u0131nda daralma oldu\u011funu g\u00f6stermektedir.<\/p>\n<h3>\u00d6zet Finansal Veriler (Bin TL)<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem<\/td>\n<td>2024<\/td>\n<td>2025<\/td>\n<\/tr>\n<tr>\n<td><b>Net Sat\u0131\u015flar<\/b><\/td>\n<td>20.266.445<\/td>\n<td>17.643.655<\/td>\n<\/tr>\n<tr>\n<td><b>Esas Faaliyet K\u00e2r\u0131<\/b><\/td>\n<td>3.636.379<\/td>\n<td>2.384.100<\/td>\n<\/tr>\n<tr>\n<td><b>Net D\u00f6nem K\u00e2r\u0131<\/b><\/td>\n<td>2.401.223<\/td>\n<td>746.273<\/td>\n<\/tr>\n<tr>\n<td><b>Aktif Toplam\u0131<\/b><\/td>\n<td>31.741.924<\/td>\n<td>28.609.807<\/td>\n<\/tr>\n<tr>\n<td><b>\u00d6zkaynaklar<\/b><\/td>\n<td>25.487.242<\/td>\n<td>24.450.175<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>Finansal Rasyolar<\/h3>\n<ul>\n<li><b>Cari Oran:<\/b> 4,45 (Likit yap\u0131n\u0131n \u00e7ok g\u00fc\u00e7l\u00fc oldu\u011funu g\u00f6stermektedir).<\/li>\n<li><b>\u00d6zsermaye \/ Aktif Toplam\u0131:<\/b> %85.<\/li>\n<li><b>Net K\u00e2r \/ Net Sat\u0131\u015flar:<\/b> %4,2 (2024&#8217;te %11,8 olan bu oran ciddi gerileme kaydetmi\u015ftir).<\/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>4. Risk Y\u00f6netimi ve Stratejik \u00d6ncelikler<\/h2>\n<p>\u015eirket, risk y\u00f6netimini \u00fc\u00e7 ana ba\u015fl\u0131kta ele almaktad\u0131r:<\/p>\n<ol>\n<li><b>Finansal Riskler:<\/b> D\u00f6viz kuru, faiz ve likidite riskleri senaryo analizleriyle takip edilmektedir.<\/li>\n<li><b>Operasyonel Riskler:<\/b> Tedarik zinciri s\u00fcreklili\u011fi, siber g\u00fcvenlik ve iklim kaynakl\u0131 fiziksel riskler y\u00f6netilmektedir.<\/li>\n<li><b>Stratejik Riskler:<\/b> \u00d6zellikle AB Ye\u015fil Mutabakat\u0131, Emisyon Ticaret Sistemi (ETS) ve karbon s\u0131n\u0131r d\u00fczenlemeleri uzun vadeli stratejinin merkezindedir.<\/li>\n<\/ol>\n<h3>Yat\u0131r\u0131mlar ve Ar-Ge<\/h3>\n<p>2025 y\u0131l\u0131nda toplam <b>1.363.969.602 TL<\/b> tutar\u0131nda yat\u0131r\u0131m harcamas\u0131 ger\u00e7ekle\u015ftirilmi\u015ftir. Bu yat\u0131r\u0131mlar\u0131n oda\u011f\u0131nda enerji verimlili\u011fi ve kapasite modernizasyonu yer almaktad\u0131r.<\/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;<\/p>\n<h2>5. S\u00fcrd\u00fcr\u00fclebilirlik ve Kurumsal Sosyal Sorumluluk<\/h2>\n<p>Nuh \u00c7imento, 2025 y\u0131l\u0131nda <b>Borsa \u0130stanbul S\u00fcrd\u00fcr\u00fclebilirlik Endeksi<\/b>&#8216;ne dahil olmu\u015ftur.<\/p>\n<ul>\n<li><b>\u00c7evresel Etki:<\/b> 2050 Net S\u0131f\u0131r Karbon yol haritas\u0131 belirlenmi\u015f, enerji t\u00fcketimi ve emisyonlar \u015feffaf \u015fekilde raporlanmaktad\u0131r.<\/li>\n<li><b>Sosyal Yat\u0131r\u0131mlar:<\/b> 2025 y\u0131l\u0131nda toplam <b>62.001.120 TL<\/b> tutar\u0131nda ba\u011f\u0131\u015f ve yard\u0131m yap\u0131lm\u0131\u015ft\u0131r. Sosyal faaliyetler b\u00fcy\u00fck oranda Nuh \u00c7imento E\u011fitim ve Sa\u011fl\u0131k Vakf\u0131 arac\u0131l\u0131\u011f\u0131yla y\u00fcr\u00fct\u00fclmektedir.<\/li>\n<li><b>\u0130nsan Kaynaklar\u0131:<\/b> Grupta ortalama 1.497 ki\u015fi istihdam edilmektedir. \u015eirkette toplu i\u015f s\u00f6zle\u015fmesi uygulamalar\u0131 ve geni\u015f kapsaml\u0131 sosyal yard\u0131mlar (ikramiye, do\u011fum\/evlenme yard\u0131m\u0131 vb.) titizlikle uygulanmaktad\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>6. Sekt\u00f6rel G\u00f6r\u00fcn\u00fcm ve 2026 Beklentileri<\/h2>\n<ul>\n<li><b>2025 De\u011ferlendirmesi:<\/b> K\u00fcresel yava\u015flama, enerji maliyetleri ve d\u00f6viz kurlar\u0131 ihracat pazarlar\u0131nda rekabeti zorla\u015ft\u0131rm\u0131\u015f; i\u00e7 talep ise s\u0131k\u0131 maliye politikalar\u0131 nedeniyle bask\u0131lanm\u0131\u015ft\u0131r.<\/li>\n<li><b>2026 Projeksiyonu:<\/b> Se\u00e7im beklentisinin olmamas\u0131, deprem b\u00f6lgesindeki yeniden in\u015fa projelerinin devam etmesi ve kentsel d\u00f6n\u00fc\u015f\u00fcm faaliyetlerinin sekt\u00f6r\u00fc desteklemesi beklenmektedir. Enflasyondaki kademeli gerilemeye paralel olarak finansal ko\u015fullar\u0131n normalle\u015fmesiyle i\u00e7 talebin istikrar kazanmas\u0131 \u00f6ng\u00f6r\u00fclmektedir.<\/li>\n<\/ul>\n<h3>Ba\u011f\u0131ms\u0131z Denetim G\u00f6r\u00fc\u015f\u00fc<\/h3>\n<p>BDO Denet Ba\u011f\u0131ms\u0131z Denetim A.\u015e. taraf\u0131ndan haz\u0131rlanan raporda, grubun 2025 y\u0131l\u0131 finansal tablolar\u0131n\u0131n ve y\u00f6netim kurulunun faaliyet raporundaki bilgilerin t\u00fcm \u00f6nemli y\u00f6nleriyle ger\u00e7e\u011fi yans\u0131tt\u0131\u011f\u0131 ve tutarl\u0131 oldu\u011fu teyit edilerek <b>olumlu g\u00f6r\u00fc\u015f<\/b> verilmi\u015ftir.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nuh \u00c7imento 2025 Y\u0131l\u0131nda S\u00fcrd\u00fcr\u00fclebilirlik ve G\u00fc\u00e7l\u00fc Mali Yap\u0131s\u0131yla \u00d6ne \u00c7\u0131kt\u0131<br \/>\nNuh \u00c7imento, 2025 y\u0131l\u0131 faaliyet raporunu a\u00e7\u0131klayarak zorlu k\u00fcresel ekonomik ko\u015fullara ra\u011fmen finansal dayan\u0131kl\u0131l\u0131\u011f\u0131n\u0131 kan\u0131tlad\u0131. 17,6 milyar TL net sat\u0131\u015f rakam\u0131na ula\u015fan \u015firket, \u00f6z sermaye oran\u0131n\u0131 %85\u2019e \u00e7\u0131kararak mali yap\u0131s\u0131n\u0131 daha da g\u00fc\u00e7lendirdi.<br \/>\n\u00d6zellikle ye\u015fil enerji yat\u0131r\u0131mlar\u0131yla dikkat \u00e7eken Nuh \u00c7imento, At\u0131k Is\u0131dan Elektrik \u00dcretim Tesisi sayesinde enerji ihtiyac\u0131n\u0131n %25&#8217;ini geri kazan\u0131mdan kar\u015f\u0131larken, karbon ayak izini azaltma yolunda dev ad\u0131mlar atmaya devam ediyor. B\u0130ST S\u00fcrd\u00fcr\u00fclebilirlik Endeksi\u2019ndeki yerini sa\u011flamla\u015ft\u0131ran ve 2025 y\u0131l\u0131nda yat\u0131r\u0131mc\u0131lar\u0131na toplamda hisse ba\u015f\u0131na 13 TL temett\u00fc da\u011f\u0131tan grup, T\u00fcrkiye&#8217;nin ve Avrupa\u2019n\u0131n tek lokasyondaki en b\u00fcy\u00fck klinker \u00fcreticisi olma unvan\u0131n\u0131 koruyor.<br \/>\nDevam\u0131n\u0131 oku&#8230;<\/p>\n","protected":false},"author":9,"featured_media":1297,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[251],"tags":[267],"class_list":["post-1387","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-faaliyetraporuanalizi","tag-nuhcm"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1387","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\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/comments?post=1387"}],"version-history":[{"count":3,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1387\/revisions"}],"predecessor-version":[{"id":1392,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1387\/revisions\/1392"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media\/1297"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media?parent=1387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=1387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=1387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}