{"id":1436,"date":"2026-02-23T20:55:49","date_gmt":"2026-02-23T17:55:49","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=1436"},"modified":"2026-02-23T21:11:28","modified_gmt":"2026-02-23T18:11:28","slug":"a1cap-a1-capital-yatirim-menkul-degerler-2025-12-faaliyet-raporu-analizi","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/1436","title":{"rendered":"\ud83c\uddf9\ud83c\uddf7 A1CAP | A1 Capital Yat\u0131r\u0131m Menkul De\u011ferler 2025\/12 Faaliyet Raporu Analizi"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/creators.spotify.com\/pod\/profile\/market-risk-tr\/embed\/episodes\/A1CAP--A1-Capital-Yatrm-Menkul-Deerler-202512-Faaliyet-Raporu-Analizi-e3fge0b\/a-acg7add\" height=\"102px\" width=\"400px\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<h1>A1 Capital 2025 Faaliyet Raporu: Yat\u0131r\u0131m D\u00fcnyas\u0131nda Dikkat \u00c7eken 5 Stratejik D\u00f6n\u00fc\u015f\u00fcm<\/h1>\n<p>Sadece bir arac\u0131 kurum mu, yoksa finans ve enerjinin kesi\u015fim noktas\u0131nda y\u00fckselen yeni bir yat\u0131r\u0131m devi mi? A1 Capital\u2019in 2025 y\u0131l\u0131 faaliyet raporu, rakamlar\u0131n \u00f6tesinde stratejik bir &#8220;g\u00fc\u00e7 g\u00f6sterisi&#8221; (power play) sunarak, \u015firketin geleneksel s\u0131n\u0131rlar\u0131n\u0131 zorlad\u0131\u011f\u0131 bir d\u00f6n\u00fcm noktas\u0131n\u0131 belgeliyor. Peki, &#8220;bir arac\u0131 kurumdan fazlas\u0131 olma&#8221; vizyonu, 2025 y\u0131l\u0131nda nas\u0131l somut bir piyasa hakimiyetine d\u00f6n\u00fc\u015ft\u00fc?<\/p>\n<h2>Sermaye Piyasalar\u0131nda Dev S\u0131\u00e7rama: \u0130\u00e7 Kaynaklarla Gelen G\u00fc\u00e7<\/h2>\n<p>A1 Capital, 2025 y\u0131l\u0131nda operasyonel kapasitesini peki\u015ftirmek ad\u0131na sermaye yap\u0131s\u0131nda radikal bir geni\u015flemeye gitti. \u015eirketin <b>135.000.000 TL<\/b> olan \u00e7\u0131kar\u0131lm\u0131\u015f sermayesi, tamam\u0131 <b>emisyon primlerinden<\/b> (i\u00e7 kaynaklardan) kar\u015f\u0131lanmak suretiyle <b>%400<\/b> oran\u0131nda art\u0131r\u0131larak <b>675.000.000 TL<\/b>\u2019ye y\u00fckseltildi.<\/p>\n<p>Bir finansal analist g\u00f6z\u00fcyle bu hamle, sadece bir muhasebe i\u015flemi de\u011fil; \u015firketin ge\u00e7mi\u015f halka arz ba\u015far\u0131s\u0131n\u0131 ve biriken \u00f6zkaynak g\u00fcc\u00fcn\u00fc, d\u0131\u015f bor\u00e7lanmaya ihtiya\u00e7 duymadan b\u00fcy\u00fcmeye kanalize edebilme kabiliyetidir. <b>1.000.000.000 TL<\/b> kay\u0131tl\u0131 sermaye tavan\u0131 i\u00e7erisinde, 13.02.2025 tarihinde SPK onay\u0131yla ger\u00e7ekle\u015fen bu art\u0131\u015f, A1 Capital\u2019in bilan\u00e7osunu tahkim ederken b\u00fcy\u00fck \u00f6l\u00e7ekli projelere finansman sa\u011flama kapasitesini de en \u00fcst seviyeye ta\u015f\u0131d\u0131.<\/p>\n<h2>Finans\u0131n \u00d6tesine Ge\u00e7i\u015f: Garanti Nakit Ak\u0131\u015fl\u0131 Enerji Yat\u0131r\u0131m\u0131<\/h2>\n<p>A1 Capital, 2025 y\u0131l\u0131 itibar\u0131yla stratejik rotas\u0131n\u0131 reel sekt\u00f6r\u00fcn en g\u00fcvenli limanlar\u0131ndan biri olan &#8220;ye\u015fil ekonomi&#8221;ye sabitledi. \u015eirket, A1 Yenilenebilir Enerji \u00fczerinden g\u00fcne\u015f enerjisi yat\u0131r\u0131mlar\u0131na a\u011f\u0131rl\u0131k vererek toplamda <b>53.4 MWp<\/b> kurulu g\u00fcce sahip bir portf\u00f6y\u00fcn par\u00e7as\u0131 haline geldi.<\/p>\n<p>Bu d\u00f6n\u00fc\u015f\u00fcm\u00fcn en somut ad\u0131m\u0131, RTA Laboratuvarlar\u0131\u2019ndan A1 Yenilenebilir Enerji\u2019nin %5\u2019lik pay\u0131n\u0131n <b>111.760.000 TL<\/b> bedelle sat\u0131n al\u0131nmas\u0131yla at\u0131ld\u0131. Bu yat\u0131r\u0131m\u0131n stratejik derinli\u011fi ise <b>YEKDEM (Yenilenebilir Enerji Kaynaklar\u0131 Destekleme Mekanizmas\u0131)<\/b> kapsam\u0131nda yap\u0131lan sat\u0131\u015flarda gizli. \u015eirket, enerji \u00fcretimi \u00fczerinden d\u00f6viz bazl\u0131 ve devlet garantili bir gelir modeli in\u015fa ederek, finansal piyasalardaki volatiliteyi reel sekt\u00f6r\u00fcn istikrarl\u0131 nakit ak\u0131\u015f\u0131yla dengeleyen vizyoner bir portf\u00f6y \u00e7e\u015fitlendirmesine imza att\u0131.<\/p>\n<h2>K\u00e2rl\u0131l\u0131kta Rekor: Bilan\u00e7oyu Tahkim Eden Devasa \u0130vme<\/h2>\n<p>2025 y\u0131l\u0131, A1 Capital\u2019in k\u00e2rl\u0131l\u0131k grafiklerinin dikey bir ivme kazand\u0131\u011f\u0131 y\u0131l oldu. \u015eirketin net k\u00e2r\u0131ndaki art\u0131\u015f, T\u00fcrkiye sermaye piyasalar\u0131nda nadir g\u00f6r\u00fclen bir b\u00fcy\u00fcme h\u0131z\u0131n\u0131 i\u015faret ediyor:<\/p>\n<p><b>&#8220;A1 Capital\u2019in 2024 y\u0131l\u0131 sonunda 484.152.704 TL olan net d\u00f6nem k\u00e2r\u0131, 2025 sonunda yakla\u015f\u0131k 7,9 kat\u0131na \u00e7\u0131karak 3.824.446.811 TL seviyesine ula\u015ft\u0131.&#8221;<\/b><\/p>\n<p>Bu <b>%690\u2019a yakla\u015fan net k\u00e2r art\u0131\u015f\u0131<\/b>, \u015firketin \u00f6zkaynaklar\u0131n\u0131 da <b>5,3 milyar TL\u2019den 9,1 milyar TL\u2019ye<\/b> (S. 19) ta\u015f\u0131yarak bilan\u00e7oyu adeta z\u0131rhland\u0131rd\u0131. Analitik bir perspektiften bak\u0131ld\u0131\u011f\u0131nda, bu performans\u0131n s\u00fcrd\u00fcr\u00fclebilirli\u011fi, \u015firketin hem arac\u0131l\u0131k gelirlerinde hem de i\u015ftirak yat\u0131r\u0131mlar\u0131nda yakalad\u0131\u011f\u0131 sinerjinin bir sonucudur.<\/p>\n<h2>Cam Tavan\u0131 K\u0131ran Y\u00f6netim: Liyakat Odakl\u0131 Kad\u0131n Liderli\u011fi<\/h2>\n<p>Kurumsal y\u00f6netim ilkeleri a\u00e7\u0131s\u0131ndan A1 Capital, 2025 y\u0131l\u0131nda pek \u00e7ok k\u00fcresel kurulu\u015fa \u00f6rnek olacak bir tablo ortaya koydu. \u015eirketin <b>6 ki\u015filik y\u00f6netim kurulunda 4 kad\u0131n \u00fcyenin<\/b> bulunmas\u0131, y\u00f6netim kademesindeki \u00e7e\u015fitlili\u011fin bir kurumsal refleks haline geldi\u011fini g\u00f6steriyor.<\/p>\n<p>Buradaki as\u0131l ba\u015far\u0131, Kurumsal Y\u00f6netim \u0130lkelerine Uyum Beyan\u0131&#8217;nda da belirtildi\u011fi \u00fczere, bu orana herhangi bir &#8220;asgari kota hedefi&#8221; belirlenmemi\u015f olmas\u0131na ra\u011fmen ula\u015f\u0131lm\u0131\u015f olmas\u0131d\u0131r. Bu durum, A1 Capital\u2019in y\u00f6netim anlay\u0131\u015f\u0131n\u0131n ka\u011f\u0131t \u00fczerindeki zorunluluklarla de\u011fil, tamamen <b>liyakat (meritocracy)<\/b> ve f\u0131rsat e\u015fitli\u011fi temelli organik bir kurumsal k\u00fclt\u00fcrle \u015fekillendi\u011finin en g\u00fc\u00e7l\u00fc kan\u0131t\u0131d\u0131r.<\/p>\n<h2>Yeni Bir Ekosistem: &#8220;Geni\u015f Yetki&#8221; ile Finansal S\u00fcpermarket<\/h2>\n<p>A1 Capital, 2025 y\u0131l\u0131nda kendisini sadece bir arac\u0131 kurum olarak de\u011fil, b\u00fct\u00fcnle\u015fik bir &#8220;finansal s\u00fcpermarket&#8221; olarak yeniden konumland\u0131rd\u0131. \u015eirketin i\u015ftirak yap\u0131s\u0131, yat\u0131r\u0131mc\u0131ya tek bir \u00e7at\u0131 alt\u0131nda her t\u00fcrl\u00fc ihtiyaca cevap veren entegre bir hizmet a\u011f\u0131 sunuyor:<\/p>\n<ul>\n<li><b>A1 Capital Portf\u00f6y Y\u00f6netimi A.\u015e.:<\/b> %100 sahiplik yap\u0131s\u0131yla kurulan \u015firket, <b>13.02.2025<\/b> tarihinde ald\u0131\u011f\u0131 faaliyet izni ile portf\u00f6y y\u00f6netimi alan\u0131nda operasyonlar\u0131na ba\u015flad\u0131.<\/li>\n<li><b>A1 Filo:<\/b> Ta\u015f\u0131t kiralama ve e\u011fitim alan\u0131nda faaliyet g\u00f6steren bu i\u015ftirak, grubun operasyonel \u00e7e\u015fitlili\u011fini peki\u015ftiriyor.<\/li>\n<\/ul>\n<p>\u015eirketin sahip oldu\u011fu <b>&#8220;Geni\u015f Yetki&#8221;<\/b> belgesi; i\u015flem arac\u0131l\u0131\u011f\u0131ndan halka arza, yat\u0131r\u0131m dan\u0131\u015fmanl\u0131\u011f\u0131ndan bireysel portf\u00f6y y\u00f6neticili\u011fine kadar uzanan bir yelpazeyi kaps\u0131yor. A1 Portf\u00f6y&#8217;\u00fcn ekosisteme dahil olmas\u0131yla birlikte, yat\u0131r\u0131mc\u0131lar i\u00e7in u\u00e7tan uca finansal \u00e7\u00f6z\u00fcmler sunan, teknoloji ve reel sekt\u00f6r\u00fc birle\u015ftiren devasa bir yap\u0131 tamamlanm\u0131\u015f oldu.<\/p>\n<h2>Sonu\u00e7: Gelece\u011fe Bak\u0131\u015f<\/h2>\n<p>2025 y\u0131l\u0131, A1 Capital i\u00e7in sermaye art\u0131r\u0131m\u0131ndan enerji yat\u0131r\u0131mlar\u0131na, k\u00e2r rekorlar\u0131ndan liyakat esasl\u0131 y\u00f6netim ba\u015far\u0131s\u0131na kadar tam anlam\u0131yla bir &#8220;stratejik kabuk de\u011fi\u015ftirme&#8221; y\u0131l\u0131 oldu. \u015eirket, finans\u0131n sadece rakamlardan ibaret olmad\u0131\u011f\u0131n\u0131; teknoloji, enerji ve do\u011fru insan kayna\u011f\u0131yla birle\u015fti\u011finde nas\u0131l bir g\u00fc\u00e7 oda\u011f\u0131na d\u00f6n\u00fc\u015febilece\u011fini kan\u0131tlad\u0131.<\/p>\n<p>Geleneksel yat\u0131r\u0131m kal\u0131plar\u0131n\u0131n y\u0131k\u0131ld\u0131\u011f\u0131 ve finansal s\u00fcpermarketlerin \u00f6ne \u00e7\u0131kt\u0131\u011f\u0131 bu yeni ekosistemde sormam\u0131z gereken tek bir soru kal\u0131yor: <b>Sizin portf\u00f6y\u00fcn\u00fcz ve yat\u0131r\u0131m stratejiniz bu b\u00fcy\u00fck d\u00f6n\u00fc\u015f\u00fcme haz\u0131r m\u0131?<\/b><\/p>\n<h1><span style=\"color: #3366ff;\">A1 Capital Yat\u0131r\u0131m Menkul De\u011ferler A.\u015e. 2025 Y\u0131l\u0131 Faaliyet Raporu Bilgilendirme Notu<\/span><\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu belge, A1 Capital Yat\u0131r\u0131m Menkul De\u011ferler A.\u015e.&#8217;nin (A1 Capital) 01.01.2025 \u2013 31.12.2025 d\u00f6nemini kapsayan Y\u00f6netim Kurulu Faaliyet Raporu&#8217;nun kapsaml\u0131 bir sentezidir. 2025 y\u0131l\u0131, \u015eirket i\u00e7in finansal b\u00fcy\u00fcmenin ivme kazand\u0131\u011f\u0131, sermaye yap\u0131s\u0131n\u0131n %400 oran\u0131nda bedelsiz art\u0131r\u0131mla g\u00fc\u00e7lendirildi\u011fi ve s\u00fcrd\u00fcr\u00fclebilirlik odakl\u0131 kurumsal yap\u0131lanman\u0131n derinle\u015fti\u011fi bir y\u0131l olmu\u015ftur.<\/p>\n<p><b>\u00d6ne \u00c7\u0131kan Ba\u015fl\u0131klar:<\/b><\/p>\n<ul>\n<li><b>Finansal Patlama:<\/b> \u015eirket, net d\u00f6nem k\u00e2r\u0131n\u0131 bir \u00f6nceki y\u0131lki 484,15 milyon TL seviyesinden <b>3,82 milyar TL<\/b> seviyesine y\u00fckseltmi\u015ftir.<\/li>\n<li><b>Sermaye G\u00fc\u00e7lendirme:<\/b> \u00c7\u0131kar\u0131lm\u0131\u015f sermaye, emisyon primlerinden kar\u015f\u0131lanmak suretiyle 135 milyon TL&#8217;den <b>675 milyon TL<\/b>&#8216;ye \u00e7\u0131kar\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>Piyasa De\u011feri ve Performans:<\/b> Borsa \u0130stanbul&#8217;da &#8220;A1CAP&#8221; koduyla i\u015flem g\u00f6ren \u015firket paylar\u0131, y\u0131l\u0131 11,80 TL fiyat ve <b>7,96 milyar TL<\/b> piyasa de\u011feri ile kapatm\u0131\u015ft\u0131r.<\/li>\n<li><b>Geni\u015f Hizmet Yelpazesi:<\/b> Kurumsal finansman alan\u0131nda 1 halka arz liderli\u011fi ve 17 halka arz konsorsiyum \u00fcyeli\u011fi ba\u015far\u0131yla tamamlanm\u0131\u015ft\u0131r.<\/li>\n<li><b>S\u00fcrd\u00fcr\u00fclebilirlik Vizyonu:<\/b> D\u00f6nem sonunda Y\u00f6netim Kurulu&#8217;na ba\u011fl\u0131 bir S\u00fcrd\u00fcr\u00fclebilirlik Komitesi olu\u015fturulmu\u015ftur.<\/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>1. Kurumsal Profil ve Genel Bilgiler<\/h2>\n<p>A1 Capital, 1990 y\u0131l\u0131nda kurulmu\u015f olup, Sermaye Piyasas\u0131 Kurulu (SPK) taraf\u0131ndan verilen &#8220;Geni\u015f Yetki&#8221; belgesi \u00e7er\u00e7evesinde yat\u0131r\u0131m hizmetleri ve faaliyetleri y\u00fcr\u00fctmektedir.<\/p>\n<ul>\n<li><b>Ticaret Unvan\u0131:<\/b> A1 Capital Yat\u0131r\u0131m Menkul De\u011ferler A.\u015e.<\/li>\n<li><b>Merkez:<\/b> \u015ei\u015fli, \u0130stanbul.<\/li>\n<li><b>Hizmet A\u011f\u0131:<\/b> 9 farkl\u0131 ilde toplam 17 irtibat b\u00fcrosu ve 1 \u015fube (Ankara \u00c7ankaya) ile yayg\u0131n bir fiziksel mevcudiyete sahiptir.<\/li>\n<li><b>Personel Say\u0131s\u0131:<\/b> Genel M\u00fcd\u00fcrl\u00fck ve irtibat b\u00fcrolar\u0131nda 220, ba\u011fl\u0131 ortakl\u0131k A1 Capital Portf\u00f6y&#8217;de ise 17 personel istihdam edilmektedir.<\/li>\n<li><b>Kredi Notu:<\/b> Turkrating taraf\u0131ndan Uzun Vadeli Ulusal Notu &#8220;TR AA-&#8220;, K\u0131sa Vadeli Ulusal Notu &#8220;TR A1&#8221; (G\u00f6r\u00fcn\u00fcm: Dura\u011fan) olarak teyit edilmi\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>2. Sermaye ve Ortakl\u0131k Yap\u0131s\u0131<\/h2>\n<p>2025 y\u0131l\u0131 i\u00e7erisinde \u015eirket&#8217;in sermaye yap\u0131s\u0131nda \u00f6nemli bir geni\u015fleme ya\u015fanm\u0131\u015ft\u0131r. 1 milyar TL kay\u0131tl\u0131 sermaye tavan\u0131 i\u00e7erisinde;<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Ortak Unvan\u0131 \/ Ad\u0131<\/td>\n<td>Pay Oran\u0131 (%)<\/td>\n<td>Oy Hakk\u0131 Oran\u0131 (%)<\/td>\n<\/tr>\n<tr>\n<td>G\u00fcler Yat\u0131r\u0131m Holding A.\u015e.<\/td>\n<td>32,15<\/td>\n<td>36,05<\/td>\n<\/tr>\n<tr>\n<td>RTA Laboratuvarlar\u0131 Biyolojik \u00dcr\u00fcnler A.\u015e.<\/td>\n<td>28,85<\/td>\n<td>32,83<\/td>\n<\/tr>\n<tr>\n<td>\u0130CG Finansal Dan\u0131\u015fmanl\u0131k A.\u015e.<\/td>\n<td>7,41<\/td>\n<td>8,42<\/td>\n<\/tr>\n<tr>\n<td>Fatma Karag\u00f6zl\u00fc<\/td>\n<td>2,22<\/td>\n<td>1,60<\/td>\n<\/tr>\n<tr>\n<td>Di\u011fer (Halka A\u00e7\u0131k K\u0131s\u0131m vb.)<\/td>\n<td>29,37<\/td>\n<td>21,11<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam<\/b><\/td>\n<td><b>100,00<\/b><\/td>\n<td><b>100,00<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Sermaye Art\u0131r\u0131m\u0131:<\/b> 135.000.000 TL olan \u00e7\u0131kar\u0131lm\u0131\u015f sermaye, %400 oran\u0131nda art\u0131r\u0131larak 675.000.000 TL&#8217;ye \u00e7\u0131kar\u0131lm\u0131\u015f ve 07.03.2025 tarihinde tescil edilmi\u015ftir. (A) grubu paylar\u0131n imtiyazl\u0131 oldu\u011fu ve Genel Kurul&#8217;da 5 oy hakk\u0131na sahip oldu\u011fu belirtilmi\u015ftir.<\/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>3. Y\u00f6netim Yap\u0131s\u0131 ve Kurumsal Y\u00f6netim<\/h2>\n<h3>Y\u00f6netim Kurulu ve Komiteler<\/h3>\n<p>Y\u00f6netim Kurulu 6 \u00fcyeden olu\u015fmaktad\u0131r. \u015eirket y\u00f6netiminde kad\u0131n temsiliyetinin y\u00fcksekli\u011fi (6 \u00fcyeden 4&#8217;\u00fc kad\u0131n) dikkat \u00e7ekicidir.<\/p>\n<ul>\n<li><b>Ba\u015fkan:<\/b> Ay\u015fe Terzi<\/li>\n<li><b>\u00dcyeler:<\/b> Enes Per\u00e7in, Fatma Karag\u00f6zl\u00fc, Ay\u015feg\u00fcl Karaca (Ba\u011f\u0131ms\u0131z), Mehmet Serkan Esenpak (31.12.2025&#8217;te istifa etti), Kemal \u015eahin (Ba\u011f\u0131ms\u0131z &#8211; 30.01.2026&#8217;da istifa etti).<\/li>\n<\/ul>\n<p><b>Aktif Komiteler:<\/b><\/p>\n<ol>\n<li><b>Denetimden Sorumlu Komite:<\/b> Finansal raporlama ve denetim s\u00fcre\u00e7lerini g\u00f6zetir.<\/li>\n<li><b>Riskin Erken Saptanmas\u0131 Komitesi:<\/b> \u015eirketin varl\u0131\u011f\u0131n\u0131 tehlikeye atabilecek riskleri izler.<\/li>\n<li><b>Kurumsal Y\u00f6netim Komitesi:<\/b> Y\u00f6netim ilkelerine uyumu takip eder (Yat\u0131r\u0131mc\u0131 \u0130li\u015fkileri bu komiteye ba\u011fl\u0131d\u0131r).<\/li>\n<li><b>S\u00fcrd\u00fcr\u00fclebilirlik Komitesi:<\/b> 18.12.2025 tarihinde \u00e7evresel ve sosyal stratejileri belirlemek \u00fczere kurulmu\u015ftur.<\/li>\n<\/ol>\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. Operasyonel Faaliyet Analizi<\/h2>\n<p>A1 Capital, faaliyetlerini \u00fc\u00e7 ana kolda toplamaktad\u0131r:<\/p>\n<h3>i. Arac\u0131l\u0131k Hizmetleri<\/h3>\n<p>Pay piyasas\u0131, sabit getirili menkul k\u0131ymetler, kald\u0131ra\u00e7l\u0131 al\u0131m-sat\u0131m (Forex), V\u0130OP ve yat\u0131r\u0131m fonlar\u0131 i\u015flemlerine arac\u0131l\u0131k edilmektedir.<\/p>\n<h3>ii. Ara\u015ft\u0131rma Hizmetleri<\/h3>\n<p>Yat\u0131r\u0131mc\u0131lara y\u00f6nelik g\u00fcnl\u00fck, teknik, makro ve sekt\u00f6r bazl\u0131 raporlar haz\u0131rlanmaktad\u0131r. \u015eirketin kendi b\u00fcnyesinde y\u00fcr\u00fctt\u00fc\u011f\u00fc spesifik bir Ar-Ge \u00e7al\u0131\u015fmas\u0131 bulunmamaktad\u0131r.<\/p>\n<h3>iii. Kurumsal Finansman Ba\u015far\u0131lar\u0131<\/h3>\n<p>2025 y\u0131l\u0131 i\u00e7erisinde kurumsal finansman departman\u0131 yo\u011fun bir faaliyet d\u00f6nemi ge\u00e7irmi\u015ftir:<\/p>\n<ul>\n<li><b>1<\/b> Halka arz konsorsiyum liderli\u011fi.<\/li>\n<li><b>17<\/b> Halka arz konsorsiyum \u00fcyeli\u011fi.<\/li>\n<li><b>8<\/b> Halka arz dan\u0131\u015fmanl\u0131k hizmeti.<\/li>\n<li><b>2,7 Milyar TL<\/b> tutar\u0131nda A1 Capital bor\u00e7lanma arac\u0131 ihrac\u0131.<\/li>\n<li><b>3,05 Milyar TL<\/b> grup d\u0131\u015f\u0131 \u015firket bor\u00e7lanma arac\u0131 ihrac\u0131.<\/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>5. Finansal Durum De\u011ferlendirmesi<\/h2>\n<p>\u015eirket 2025 y\u0131l\u0131nda finansal hacmini ciddi oranda b\u00fcy\u00fctm\u00fc\u015ft\u00fcr.<\/p>\n<h3>Bilan\u00e7o \u00d6zet (Bin TL)<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem<\/td>\n<td>31.12.2025<\/td>\n<td>31.12.2024<\/td>\n<\/tr>\n<tr>\n<td>Toplam Varl\u0131klar<\/td>\n<td>18.204.039<\/td>\n<td>11.308.168<\/td>\n<\/tr>\n<tr>\n<td>D\u00f6nen Varl\u0131klar<\/td>\n<td>17.534.580<\/td>\n<td>10.860.801<\/td>\n<\/tr>\n<tr>\n<td>Toplam \u00d6zkaynaklar<\/td>\n<td>9.182.649<\/td>\n<td>5.321.870<\/td>\n<\/tr>\n<tr>\n<td>Toplam Bor\u00e7lar<\/td>\n<td>9.021.390<\/td>\n<td>5.986.298<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>Gelir Tablosu \u00d6zet (Bin TL)<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem<\/td>\n<td>2025<\/td>\n<td>2024<\/td>\n<\/tr>\n<tr>\n<td>Has\u0131lat<\/td>\n<td>33.064.520<\/td>\n<td>54.353.111<\/td>\n<\/tr>\n<tr>\n<td>Br\u00fct K\u00e2r<\/td>\n<td>9.930.741<\/td>\n<td>5.159.748<\/td>\n<\/tr>\n<tr>\n<td>Esas Faaliyet K\u00e2r\u0131<\/td>\n<td>9.027.661<\/td>\n<td>4.442.296<\/td>\n<\/tr>\n<tr>\n<td><b>Net D\u00f6nem K\u00e2r\u0131<\/b><\/td>\n<td><b>3.824.447<\/b><\/td>\n<td><b>484.153<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Finansal Analiz Notu:<\/b> Has\u0131lat\u0131n \u00f6nceki y\u0131la g\u00f6re d\u00fc\u015fmesine ra\u011fmen br\u00fct ve net k\u00e2rl\u0131l\u0131kta g\u00f6r\u00fclen rekor art\u0131\u015f, operasyonel verimlili\u011fin ve esas faaliyet k\u00e2r marj\u0131ndaki iyile\u015fmenin bir g\u00f6stergesidir.<\/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>6. Ba\u011fl\u0131 Ortakl\u0131klar ve \u0130\u015ftirakler<\/h2>\n<p>\u015eirket, faaliyetlerini \u00e7e\u015fitlendirmek amac\u0131yla farkl\u0131 sekt\u00f6rlerde pay sahibidir:<\/p>\n<ol>\n<li><b>A1 Capital Portf\u00f6y Y\u00f6netimi A.\u015e. (%100):<\/b> Yat\u0131r\u0131m fonlar\u0131n\u0131n kurulmas\u0131 ve y\u00f6netimi amac\u0131yla kurulmu\u015f, 13.02.2025 tarihinde faaliyet izni alm\u0131\u015ft\u0131r.<\/li>\n<li><b>A1 E\u011fitim ve Filo Kiralama A.\u015e. (%1):<\/b> Ta\u015f\u0131t kiralama ve e\u011fitim faaliyetleri y\u00fcr\u00fctmektedir.<\/li>\n<li><b>A1 Yenilenebilir Enerji ve \u00dcretim A.\u015e. (%5):<\/b> G\u00fcne\u015f enerjisinden elektrik \u00fcretimi yapmaktad\u0131r. \u015eirket 53.414 kWp kurulu g\u00fcce sahiptir. A1 Capital, bu \u015firketin %5 pay\u0131n\u0131 111,76 milyon TL bedelle sat\u0131n alm\u0131\u015ft\u0131r.<\/li>\n<\/ol>\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>7. Yat\u0131r\u0131mc\u0131 \u0130li\u015fkileri ve Hisse Performans\u0131<\/h2>\n<p>A1 Capital paylar\u0131 (A1CAP), 2025 y\u0131l\u0131 boyunca yat\u0131r\u0131mc\u0131lar\u0131n ilgisini \u00e7ekmeye devam etmi\u015ftir:<\/p>\n<ul>\n<li><b>Fiili Dola\u015f\u0131m Oran\u0131:<\/b> %32,33.<\/li>\n<li><b>G\u00fcnl\u00fck Ortalama \u0130\u015flem Hacmi:<\/b> 203 milyon TL.<\/li>\n<li><b>Pay Geri Al\u0131m Program\u0131:<\/b> \u015eirket, 2025 y\u0131l\u0131 i\u00e7inde 300.000 lot pay\u0131 geri alm\u0131\u015f, program\u0131 Kas\u0131m ay\u0131nda sonland\u0131rm\u0131\u015f ve Aral\u0131k ay\u0131nda bu paylar\u0131n sat\u0131\u015f\u0131ndan <b>1,87 milyon TL k\u00e2r<\/b> elde etmi\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>8. Risk Y\u00f6netimi ve Mevzuata Uyum<\/h2>\n<h3>Risk Kategorileri<\/h3>\n<p>\u015eirket; kredi, likidite, kur, piyasa, faiz oran\u0131, hisse senedi fiyat ve sermaye risklerini aktif olarak izlemektedir. Sermaye riski, &#8220;net bor\u00e7 \/ toplam \u00f6zkaynak&#8221; oran\u0131 \u00fczerinden takip edilmektedir.<\/p>\n<h3>Mevzuat ve Etik<\/h3>\n<ul>\n<li><b>\u0130dari Yapt\u0131r\u0131mlar:<\/b> 2025 y\u0131l\u0131 i\u00e7erisinde SPK b\u00fcltenleri arac\u0131l\u0131\u011f\u0131yla \u015eirket&#8217;e toplam <b>15.560.795 TL<\/b> idari para cezas\u0131 uygulanm\u0131\u015ft\u0131r. Genel Kurul&#8217;da bu cezalar\u0131n sorumlu y\u00f6netim kurulu \u00fcyelerine r\u00fccu edilmemesi kararla\u015ft\u0131r\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>Kurumsal Y\u00f6netim Uyum:<\/b> \u015eirket, kurumsal y\u00f6netim ilkelerinin bir\u00e7o\u011funa uyum sa\u011flamakla birlikte; kad\u0131n \u00fcye oran\u0131 i\u00e7in asgari hedef belirlenmemesi (mevcutta %67 olsa da), y\u00f6netim kurulu performans de\u011ferlendirmesi yap\u0131lmamas\u0131 ve internet sitesinde yabanc\u0131 dil se\u00e7ene\u011fi bulunmamas\u0131 gibi alanlarda hen\u00fcz tam uyum sa\u011flamam\u0131\u015ft\u0131r.<\/li>\n<li><b>Ba\u011f\u0131\u015flar:<\/b> 2025 y\u0131l\u0131nda 3.584,20 TL tutar\u0131nda ba\u011f\u0131\u015f yap\u0131lm\u0131\u015ft\u0131r. 2026 y\u0131l\u0131 i\u00e7in ba\u011f\u0131\u015f s\u0131n\u0131r\u0131 aktif toplam\u0131n %5&#8217;i olarak belirlenmi\u015ftir.<\/li>\n<\/ul>\n<button class=\"simplefavorite-button\" data-postid=\"1436\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>A1 Capital 2025 Y\u0131l\u0131nda Rekor B\u00fcy\u00fcme Kaydetti: Net Kar 3,8 Milyar TL\u2019yi A\u015ft\u0131!<br \/>\nA1 Capital, 2025 y\u0131l\u0131 finansal sonu\u00e7lar\u0131yla sermaye piyasalar\u0131ndaki g\u00fc\u00e7l\u00fc konumunu tescilledi. 18,2 milyar TL\u2019lik aktif b\u00fcy\u00fckl\u00fc\u011fe ula\u015fan ve sermayesini %400 bedelsiz art\u0131rarak 675 milyon TL\u2019ye \u00e7\u0131karan A1 Capital\u2019in; portf\u00f6y y\u00f6netimi ve yenilenebilir enerji alan\u0131ndaki yeni yat\u0131r\u0131mlar\u0131, dijitalle\u015fme vizyonu ve s\u00fcrd\u00fcr\u00fclebilirlik stratejileriyle dolu 2025 y\u0131l\u0131 faaliyet raporunun t\u00fcm detaylar\u0131n\u0131 blog yaz\u0131m\u0131zda inceliyoruz. Finansal ba\u015far\u0131n\u0131n ve stratejik b\u00fcy\u00fcmenin perde arkas\u0131n\u0131 ke\u015ffedin.<\/p>\n","protected":false},"author":10,"featured_media":1297,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[251],"tags":[272],"class_list":["post-1436","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-faaliyetraporuanalizi","tag-a1cap"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1436","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\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/comments?post=1436"}],"version-history":[{"count":3,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1436\/revisions"}],"predecessor-version":[{"id":1444,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1436\/revisions\/1444"}],"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=1436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=1436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=1436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}