{"id":1643,"date":"2026-03-05T14:39:48","date_gmt":"2026-03-05T11:39:48","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=1643"},"modified":"2026-03-05T16:46:59","modified_gmt":"2026-03-05T13:46:59","slug":"crfsa-faaliyet-raporu-analizi-202512-carrefoursa-carrefour-sabanc-ticaret-merkezi-a","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/1643","title":{"rendered":"\ud83c\uddf9\ud83c\uddf7 CRFSA Faaliyet Raporu Analizi 2025\/12 | Carrefoursa Carrefour Sabanc\u0131 Ticaret Merkezi A.\u015e."},"content":{"rendered":"<p><iframe data-testid=\"embed-iframe\" style=\"border-radius:12px\" src=\"https:\/\/open.spotify.com\/embed\/episode\/1PKV5ZE2bMn44HwNkBYgLQ?utm_source=generator&#038;t=0\" width=\"100%\" height=\"352\" frameBorder=\"0\" allowfullscreen=\"\" allow=\"autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture\" loading=\"lazy\"><\/iframe><\/p>\n<h1>CarrefourSA 2025: Bir Perakende Devinin &#8220;Yeni Nesil&#8221; D\u00f6n\u00fc\u015f\u00fcm Yolculu\u011fu<\/h1>\n<p><b>Giri\u015f: De\u011fi\u015fen Perakende D\u00fcnyas\u0131nda Sabit Kalmamak<\/b><\/p>\n<p>G\u00fcn\u00fcm\u00fcz perakende d\u00fcnyas\u0131, makroekonomik dalgalanmalar\u0131n ve dijital d\u00f6n\u00fc\u015f\u00fcm\u00fcn k\u0131skac\u0131nda, sadece raflara \u00fcr\u00fcn dizmenin \u00f6tesinde bir \u00e7eviklik gerektiriyor. CarrefourSA\u2019n\u0131n 2025 y\u0131l\u0131 faaliyet raporu, rakamlar\u0131n \u00f6tesinde k\u00f6kl\u00fc bir devin &#8220;Yeni Nesil Market&#8221; vizyonuyla kabuk de\u011fi\u015ftirmesini belgeliyor. Ancak bir analist g\u00f6z\u00fcyle sat\u0131r aralar\u0131na bakt\u0131\u011f\u0131m\u0131zda, bu d\u00f6n\u00fc\u015f\u00fcm\u00fcn olduk\u00e7a zorlu bir konjonkt\u00fcrde ger\u00e7ekle\u015fti\u011fini g\u00f6r\u00fcyoruz: \u015eirketin has\u0131lat\u0131, 2024 y\u0131l\u0131ndaki 85,9 milyar TL seviyesinden 83,6 milyar TL\u2019ye gerilemi\u015f durumda. Bu gelir daralmas\u0131na ra\u011fmen CarrefourSA, sadece ayakta kalmay\u0131 de\u011fil, stratejik bir Pivot ile gelece\u011fi yeniden kurgulamay\u0131 hedefliyor.<\/p>\n<p><b>Bayilik (Franchise) Modelinde Agresif B\u00fcy\u00fcme: &#8220;Asset-Light&#8221; Stratejisi<\/b><\/p>\n<p>CarrefourSA, 2025 y\u0131l\u0131nda perakende operasyonlar\u0131nda devrim niteli\u011finde bir de\u011fi\u015fim sergileyerek &#8220;Asset-light&#8221; (sermaye hafif) b\u00fcy\u00fcme modeline ge\u00e7i\u015f yapt\u0131. \u015eirket, y\u00fcksek operasyonel maliyetli \u00f6z mal ma\u011fazalar\u0131n\u0131 rasyonalize ederken (bir\u00e7ok noktada kapan\u0131\u015fa giderken), b\u00fcy\u00fcme motorunu bayilik modeline ba\u011flad\u0131. Bu strateji, sermaye verimlili\u011fini art\u0131r\u0131rken yerel giri\u015fimcili\u011fin g\u00fcc\u00fcn\u00fc markaya entegre ediyor.<\/p>\n<p>31 Aral\u0131k 2025 itibar\u0131yla ula\u015f\u0131lan tablo, bu stratejik kayman\u0131n somut kan\u0131t\u0131d\u0131r:<\/p>\n<ul>\n<li><b>Franchise Ma\u011fazalar:<\/b> 632<\/li>\n<li><b>Do\u011frudan \u0130\u015fletilen Ma\u011fazalar (S\u00fcper, Gurme, Mini, Horeca):<\/b> 586<\/li>\n<li><b>Hipermarketler:<\/b> 19<\/li>\n<\/ul>\n<p>Analitik bir perspektifle; franchise say\u0131s\u0131n\u0131n do\u011frudan i\u015fletilen ma\u011faza say\u0131s\u0131n\u0131 geride b\u0131rakmas\u0131, CarrefourSA\u2019n\u0131n art\u0131k bir &#8220;ma\u011faza i\u015fletmecisinden&#8221; ziyade bir &#8220;perakende platformuna&#8221; d\u00f6n\u00fc\u015ft\u00fc\u011f\u00fcn\u00fc g\u00f6steriyor. Rapor d\u00f6neminde ger\u00e7ekle\u015fen 100&#8217;den fazla ma\u011faza kapan\u0131\u015f\u0131, verimsiz noktalar\u0131n &#8220;budanarak&#8221; daha k\u00e2rl\u0131 ve esnek bir yap\u0131ya alan a\u00e7\u0131ld\u0131\u011f\u0131n\u0131 kan\u0131tl\u0131yor.<\/p>\n<p><b>2025 Y\u0131l\u0131 Format D\u00f6n\u00fc\u015f\u00fcmleri:<\/b><\/p>\n<ul>\n<li><b>Hipermarket D\u00f6n\u00fc\u015f\u00fcm\u00fc:<\/b> 1 ma\u011faza<\/li>\n<li><b>Gurme Format\u0131:<\/b> 20 ma\u011faza<\/li>\n<li><b>Mini Format\u0131:<\/b> 50 ma\u011faza<\/li>\n<\/ul>\n<p><b>S\u00fcrd\u00fcr\u00fclebilirlikte &#8220;Triple A&#8221; Zirvesi: ESG Yat\u0131r\u0131mlar\u0131n\u0131n Finansal De\u011feri<\/b><\/p>\n<p>Perakende sekt\u00f6r\u00fcnde s\u00fcrd\u00fcr\u00fclebilirlik art\u0131k bir halkla ili\u015fkiler faaliyeti de\u011fil, k\u00fcresel sermayeye eri\u015fim i\u00e7in kritik bir ESG (\u00c7evresel, Sosyal ve Y\u00f6neti\u015fim) kriteridir. CarrefourSA, 2025 y\u0131l\u0131nda Karbon Saydaml\u0131k Projesi (CDP) kapsam\u0131nda \u0130klim De\u011fi\u015fikli\u011fi, Su G\u00fcvenli\u011fi ve Orman mod\u00fcllerinin tamam\u0131nda k\u00fcresel &#8220;A Listesi&#8221;ne girerek <b>&#8220;Triple A&#8221;<\/b> derecesine ula\u015fan ender \u015firketlerden biri oldu.<\/p>\n<p>\u015eirketin bu alandaki vizyonu, gelece\u011fin reg\u00fclasyonlar\u0131na (\u00f6zellikle ormans\u0131zla\u015fman\u0131n \u00f6nlenmesi yasalar\u0131) \u015fimdiden haz\u0131r oldu\u011funu g\u00f6steriyor:<\/p>\n<p>&#8220;Bug\u00fcn, yar\u0131n i\u00e7in bir fark yarat\u0131yoruz.&#8221;<\/p>\n<p>Bu ba\u015far\u0131, 6,5 milyar TL&#8217;lik net zarara ra\u011fmen \u015firketi uluslararas\u0131 ESG fonlar\u0131 i\u00e7in cazip bir yat\u0131r\u0131m hedefi haline getirmeye devam ediyor.<\/p>\n<p><b>Finansal Manevralar: Y\u00fcksek Enflasyonda Likidite Y\u00f6netimi<\/b><\/p>\n<p>Finansal tablolara derinlemesine dald\u0131\u011f\u0131m\u0131zda, CarrefourSA\u2019n\u0131n bor\u00e7lanma ara\u00e7lar\u0131n\u0131 operasyonel s\u00fcreklilik ve bor\u00e7 refinansman\u0131 amac\u0131yla son derece aktif kulland\u0131\u011f\u0131n\u0131 g\u00f6r\u00fcyoruz. 2025 y\u0131l\u0131n\u0131n \u00fc\u00e7\u00fcnc\u00fc \u00e7eyre\u011finde ger\u00e7ekle\u015ftirilen tahvil ihra\u00e7lar\u0131, \u015firketin nakit ak\u0131\u015f\u0131n\u0131 y\u00f6netme konusundaki agresif tutumunu yans\u0131t\u0131yor:<\/p>\n<ul>\n<li><b>9 Temmuz 2025:<\/b> 181 g\u00fcn vadeli 2,6 milyon TL (%45,95 sabit) ve 370 g\u00fcn vadeli 400 bin TL (%46,59 de\u011fi\u015fken) tahvil ihrac\u0131.<\/li>\n<li><b>13 A\u011fustos 2025:<\/b> 180 g\u00fcn vadeli 1,35 milyon TL (%42,50 sabit) ve 366 g\u00fcn vadeli 500 bin TL (%44,51 de\u011fi\u015fken) tahvil ihrac\u0131.<\/li>\n<li><b>5 Eyl\u00fcl 2025:<\/b> 178 g\u00fcn vadeli 1,05 milyon TL (%41,50 sabit) ve 378 g\u00fcn vadeli 350 bin TL (%43,37 de\u011fi\u015fken) tahvil ihrac\u0131.<\/li>\n<li><b>22 Eyl\u00fcl 2025:<\/b> 374 g\u00fcn vadeli 1,25 milyar TL (%42 sabit) ve 500 bin TL (%42,67 de\u011fi\u015fken) ihra\u00e7lar.<\/li>\n<\/ul>\n<p>Ayr\u0131ca 2026 ba\u015f\u0131nda planlanan 15 milyar TL\u2019lik devasa kira sertifikas\u0131 (sukuk) ihrac\u0131 karar\u0131, \u015firketin y\u00fcksek enflasyonist ortamda likiditeyi garanti alt\u0131na alarak &#8220;Yeni Nesil&#8221; d\u00f6n\u00fc\u015f\u00fcm\u00fcn\u00fc finanse etme kararl\u0131l\u0131\u011f\u0131n\u0131 g\u00f6steriyor.<\/p>\n<p><b>Kriz Y\u00f6netimi: Antalya Depo Yang\u0131n\u0131 ve &#8220;Post-Balance Sheet&#8221; Analizi<\/b><\/p>\n<p>Teknik raporlama a\u00e7\u0131s\u0131ndan kritik bir detay, 4 Ocak 2026 tarihinde Antalya Serik deposunda meydana gelen yang\u0131nd\u0131r. Bu olay, raporlama d\u00f6neminden sonra ger\u00e7ekle\u015fmesi sebebiyle bir <b>&#8220;Bilan\u00e7o Sonras\u0131 Ayarlama Gerektirmeyen Olay&#8221; (Non-adjusting Post Balance Sheet Event)<\/b> olarak s\u0131n\u0131fland\u0131r\u0131lm\u0131\u015ft\u0131r. 15,8 milyon dolarl\u0131k sigorta teminat\u0131 ve g\u00fc\u00e7l\u00fc lojistik altyap\u0131s\u0131 sayesinde faaliyetlerin kesintisiz s\u00fcrmesi, kurumsal risk y\u00f6netiminin bir dayan\u0131kl\u0131l\u0131k testi olarak kayda ge\u00e7mi\u015ftir.<\/p>\n<p><b>Yeni Liderlik, Yeni Vizyon: &#8220;Yeni Nesil Market&#8221; Manifestosu<\/b><\/p>\n<p>Nisan 2025\u2019te G\u00f6khan Eyig\u00fcn\u2019\u00fcn Y\u00f6netim Kurulu Ba\u015fkanl\u0131\u011f\u0131\u2019na atanmas\u0131yla peki\u015fen yeni y\u00f6netim yap\u0131s\u0131, CarrefourSA\u2019y\u0131 bir g\u0131da perakendecisinden \u00f6te, m\u00fc\u015fteri ihtiya\u00e7lar\u0131n\u0131 veriyle analiz eden bir \u00e7\u00f6z\u00fcm merkezi olarak konumluyor.<\/p>\n<p>\u015eirketin stratejik pusulas\u0131 olan misyon tan\u0131m\u0131, bu d\u00f6n\u00fc\u015f\u00fcm\u00fcn felsefesini \u00f6zetliyor:<\/p>\n<p>&#8220;Yeni Nesil Market anlay\u0131\u015f\u0131yla m\u00fc\u015fterilerimizin ihtiya\u00e7 ve beklentilerini anlamak; do\u011fru \u00fcreticiden do\u011fru \u00fcr\u00fcn\u00fc temin ederek do\u011fru hizmet anlay\u0131\u015f\u0131 ile do\u011fru fiyata sunmakt\u0131r.&#8221;<\/p>\n<p><b>Sonu\u00e7: Finansal Ger\u00e7ekler ve Operasyonel Umut<\/b><\/p>\n<p>CarrefourSA\u2019n\u0131n 2025 bilan\u00e7osu ilk bak\u0131\u015fta 6,5 milyar TL net zarar ile sars\u0131c\u0131 g\u00f6r\u00fcnebilir. Ancak analistler i\u00e7in umut verici bir veri mevcut: \u015eirketin <b>Br\u00fct Faaliyet K\u00e2r Marj\u0131<\/b>, 2024\u2019teki %23,28 seviyesinden %23,40\u2019a y\u00fckselmi\u015f durumda. Bu, sat\u0131\u015f hacmi d\u00fc\u015fse bile \u015firketin fiyatlama g\u00fcc\u00fcn\u00fc korudu\u011funu ve operasyonel verimlili\u011fe odakland\u0131\u011f\u0131n\u0131 g\u00f6steriyor.<\/p>\n<p>Bir yanda bor\u00e7 y\u00fck\u00fc ve net zarar, di\u011fer yanda &#8220;Triple A&#8221; s\u00fcrd\u00fcr\u00fclebilirlik ba\u015far\u0131s\u0131 ve devasa bir franchise a\u011f\u0131&#8230; CarrefourSA, yar\u0131n\u0131n d\u00fcnyas\u0131nda yerini almak i\u00e7in a\u011f\u0131r bir finansal bedel \u00f6d\u00fcyor.<\/p>\n<p>Peki, sizce geleneksel perakende devlerinin bu denli radikal bir &#8220;Asset-light&#8221; ve ESG d\u00f6n\u00fc\u015f\u00fcm\u00fcne girmesi, piyasada kal\u0131c\u0131 bir k\u00e2rl\u0131l\u0131k yaratmak i\u00e7in yeterli olacak m\u0131, yoksa fiziksel raflar\u0131n devri yava\u015f yava\u015f kapan\u0131yor mu?<\/p>\n<h1>CarrefourSA 2025 Y\u0131l\u0131 Faaliyet ve Stratejik De\u011ferlendirme Raporu<\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu briefing belgesi, CarrefourSA Carrefour Sabanc\u0131 Ticaret Merkezi A.\u015e.&#8217;nin 1 Ocak \u2013 31 Aral\u0131k 2025 d\u00f6nemine ait faaliyetlerini, finansal performans\u0131n\u0131 ve stratejik y\u00f6nelimlerini sentezlemektedir. 2025 y\u0131l\u0131, CarrefourSA i\u00e7in operasyonel a\u011f\u0131n geni\u015fledi\u011fi, ancak makroekonomik ko\u015fullar ve finansal y\u00fck\u00fcml\u00fcl\u00fcklerin etkisiyle net zarar\u0131n artt\u0131\u011f\u0131 bir y\u0131l olmu\u015ftur.<\/p>\n<p><b>Kritik Bulgular:<\/b><\/p>\n<ul>\n<li><b>Finansal Performans:<\/b> \u015eirket, 2025 y\u0131l\u0131n\u0131 83,6 milyar TL has\u0131lat ve 6,5 milyar TL net zarar ile kapatm\u0131\u015ft\u0131r. Ge\u00e7en y\u0131la oranla net zararda belirgin bir art\u0131\u015f g\u00f6zlemlenmi\u015ftir.<\/li>\n<li><b>Operasyonel Geni\u015fleme ve Franchise Modeli:<\/b> \u015eirket, &#8220;Yeni Nesil Market&#8221; vizyonu do\u011frultusunda franchise modeline a\u011f\u0131rl\u0131k vererek b\u00fcy\u00fcmesini s\u00fcrd\u00fcrm\u00fc\u015ft\u00fcr. Y\u0131l sonu itibar\u0131yla 632 franchise ma\u011fazas\u0131 ile toplam a\u011f\u0131n \u00f6nemli bir k\u0131sm\u0131n\u0131 bu model olu\u015fturmaktad\u0131r.<\/li>\n<li><b>S\u00fcrd\u00fcr\u00fclebilirlik Ba\u015far\u0131s\u0131:<\/b> CarrefourSA, CDP (Carbon Disclosure Project) 2025 derecelendirmesinde \u0130klim De\u011fi\u015fikli\u011fi, Su G\u00fcvenli\u011fi ve Orman mod\u00fcllerinde &#8220;Triple A&#8221; alarak k\u00fcresel bir ba\u015far\u0131 elde etmi\u015ftir.<\/li>\n<li><b>Raporlama Sonras\u0131 \u00d6nemli Geli\u015fmeler:<\/b> Ocak 2026&#8217;da Antalya&#8217;daki bir depoda meydana gelen yang\u0131n ve \u015eubat 2026&#8217;da al\u0131nan 15 milyar TL&#8217;ye kadar kira sertifikas\u0131 ihrac\u0131 karar\u0131, \u00f6n\u00fcm\u00fczdeki d\u00f6nemin risk ve finansman ajandas\u0131n\u0131 belirlemektedir.<\/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 Yap\u0131 ve Ortakl\u0131k Bilgileri<\/h2>\n<p>CarrefourSA, 1991 y\u0131l\u0131nda kurulmu\u015f olup, 1996 y\u0131l\u0131nda Sabanc\u0131 Holding ve Carrefour Group ortakl\u0131\u011f\u0131 ile T\u00fcrkiye&#8217;nin lider g\u0131da perakendecilerinden biri haline gelmi\u015ftir.<\/p>\n<h3>Sermaye ve Ortakl\u0131k Yap\u0131s\u0131 (31 Aral\u0131k 2025)<\/h3>\n<p>\u015eirket sermayesi 127.774.000 TL olup, ortakl\u0131k da\u011f\u0131l\u0131m\u0131 \u015fu \u015fekildedir:<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Orta\u011f\u0131n Ad\u0131 \/ Unvan\u0131<\/td>\n<td>Sermaye Pay\u0131 (%)<\/td>\n<\/tr>\n<tr>\n<td>Hac\u0131 \u00d6mer Sabanc\u0131 Holding A.\u015e.<\/td>\n<td>%57,12<\/td>\n<\/tr>\n<tr>\n<td>Carrefour Nederland BV<\/td>\n<td>%32,16<\/td>\n<\/tr>\n<tr>\n<td>Halk Ortaklar ve Di\u011fer<\/td>\n<td>%10,72<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam<\/b><\/td>\n<td><b>%100,00<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Vizyon ve Misyon:<\/b> &#8220;Yeni Nesil Market&#8221; anlay\u0131\u015f\u0131yla, m\u00fc\u015fterinin ihtiyac\u0131na uygun do\u011fru \u00fcr\u00fcn\u00fc, do\u011fru \u00fcreticiden temin ederek do\u011fru fiyatla sunmak ve lider g\u0131da perakendecisi konumunu peki\u015ftirmek hedeflenmektedir.<\/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>2. Finansal Analiz<\/h2>\n<p>2025 y\u0131l\u0131 finansal tablolar\u0131, T\u00fcrkiye Finansal Raporlama Standartlar\u0131&#8217;na (TFRS) uygun olarak haz\u0131rlanm\u0131\u015ft\u0131r.<\/p>\n<h3>Temel Finansal G\u00f6stergeler (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>Has\u0131lat<\/td>\n<td>83.611.594<\/td>\n<td>85.949.430<\/td>\n<\/tr>\n<tr>\n<td>Br\u00fct Esas Faaliyet Kar\u0131<\/td>\n<td>19.567.817<\/td>\n<td>20.010.563<\/td>\n<\/tr>\n<tr>\n<td>Net Zarar<\/td>\n<td>(6.539.269)<\/td>\n<td>(3.731.697)<\/td>\n<\/tr>\n<tr>\n<td>Aktif Toplam<\/td>\n<td>37.436.600<\/td>\n<td>35.794.815<\/td>\n<\/tr>\n<tr>\n<td>\u00d6zkaynaklar<\/td>\n<td>(986.501)<\/td>\n<td>5.743.478<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Finansal Durum De\u011ferlendirmesi:<\/b><\/p>\n<ul>\n<li>Has\u0131latta 2024 y\u0131l\u0131na g\u00f6re hafif bir d\u00fc\u015f\u00fc\u015f ya\u015fanm\u0131\u015f, net zarar ise yakla\u015f\u0131k %75 oran\u0131nda artm\u0131\u015ft\u0131r.<\/li>\n<li><b>Cari Oran:<\/b> 0,48 seviyesindedir (2024: 0,61). Bu durum k\u0131sa vadeli y\u00fck\u00fcml\u00fcl\u00fcklerin d\u00f6nen varl\u0131klara oranla artt\u0131\u011f\u0131n\u0131 g\u00f6stermektedir.<\/li>\n<li><b>Br\u00fct Kar Marj\u0131:<\/b> %23,40 ile bir \u00f6nceki y\u0131la (%23,28) paralel seyretmektedir.<\/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. Ma\u011faza A\u011f\u0131 ve Operasyonel Faaliyetler<\/h2>\n<p>CarrefourSA, 2025 y\u0131l\u0131nda ma\u011faza portf\u00f6y\u00fcnde dinamik bir optimizasyon stratejisi izlemi\u015ftir. Y\u0131l boyunca \u00e7ok say\u0131da yeni franchise a\u00e7\u0131l\u0131\u015f\u0131 yap\u0131l\u0131rken, verimsiz g\u00f6r\u00fclen baz\u0131 noktalar kapat\u0131lm\u0131\u015ft\u0131r.<\/p>\n<h3>Ma\u011faza Say\u0131lar\u0131 ve Format Da\u011f\u0131l\u0131m\u0131<\/h3>\n<p>31 Aral\u0131k 2025 itibar\u0131yla toplam ma\u011faza yap\u0131s\u0131 \u015f\u00f6yledir:<\/p>\n<ul>\n<li><b>S\u00fcpermarket, Gurme, Mini, Horeca:<\/b> 586 ma\u011faza<\/li>\n<li><b>Franchise Ma\u011fazalar:<\/b> 632 ma\u011faza<\/li>\n<li><b>Hipermarketler:<\/b> 19 ma\u011faza<\/li>\n<\/ul>\n<p><b>Format De\u011fi\u015fiklikleri:<\/b> D\u00f6nem i\u00e7erisinde 71 s\u00fcpermarket ma\u011fazas\u0131nda format de\u011fi\u015fikli\u011fine gidilmi\u015f (1 hipermarket, 20 gurme, 50 mini); bu ma\u011fazalardan 3&#8217;\u00fc y\u0131l i\u00e7inde kapat\u0131lm\u0131\u015ft\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>4. Y\u00f6netim Kurulu ve Kurumsal Y\u00f6netim<\/h2>\n<p>\u015eirket y\u00f6netimi, 12 \u00fcyeden olu\u015fan bir Y\u00f6netim Kurulu taraf\u0131ndan y\u00fcr\u00fct\u00fclmektedir. Y\u00f6netim Kurulu Ba\u015fkan\u0131 30 Nisan 2025 tarihi itibar\u0131yla G\u00f6khan Eyig\u00fcn olmu\u015ftur.<\/p>\n<h3>Y\u00f6netim Kurulunda Olu\u015fturulan Komiteler<\/h3>\n<p>Kurumsal y\u00f6netim ilkeleri uyar\u0131nca aktif olarak \u00e7al\u0131\u015fan komiteler \u015funlard\u0131r:<\/p>\n<ul>\n<li><b>Denetim Komitesi:<\/b> \u0130\u00e7 kontrol ve finansal raporlama sistemlerini denetler (Ba\u015fkan: B\u00fclent Bozdo\u011fan).<\/li>\n<li><b>Kurumsal Y\u00f6netim Komitesi:<\/b> Aday g\u00f6sterme ve \u00fccret komitesi g\u00f6revlerini de \u00fcstlenir (Ba\u015fkan: Mevl\u00fct Aydemir).<\/li>\n<li><b>Riskin Erken Saptanmas\u0131 Komitesi:<\/b> \u015eirketin varl\u0131\u011f\u0131n\u0131 tehlikeye atabilecek risklerin tespiti ve y\u00f6netimi ile sorumludur (Ba\u015fkan: Haluk Bal).<\/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. Finansman Ara\u00e7lar\u0131 ve Ba\u011f\u0131\u015flar<\/h2>\n<p><b>Sermaye Piyasas\u0131 Ara\u00e7lar\u0131:<\/b> \u015eirket, 2025 y\u0131l\u0131n\u0131n ikinci yar\u0131s\u0131nda finansman ihtiyac\u0131n\u0131 kar\u015f\u0131lamak amac\u0131yla \u00e7e\u015fitli vadelerde ve tutarlarda tahvil ihra\u00e7lar\u0131 ger\u00e7ekle\u015ftirmi\u015ftir. Bu ihra\u00e7lar\u0131n toplam\u0131 milyarlarca TL tutar\u0131na ula\u015fm\u0131\u015f olup, faiz oranlar\u0131 %41,50 ile %46,59 aras\u0131nda de\u011fi\u015fmektedir.<\/p>\n<p><b>Ba\u011f\u0131\u015flar:<\/b> 2025 y\u0131l\u0131 i\u00e7erisinde toplam 6.776.000 TL tutar\u0131nda ba\u011f\u0131\u015f ve yard\u0131m yap\u0131lm\u0131\u015ft\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>6. S\u00fcrd\u00fcr\u00fclebilirlik ve \u0130nsan Kaynaklar\u0131<\/h2>\n<p><b>S\u00fcrd\u00fcr\u00fclebilirlik Yakla\u015f\u0131m\u0131:<\/b> CarrefourSA, Sabanc\u0131 Holding&#8217;in &#8220;2050 Net S\u0131f\u0131r&#8221; taahh\u00fcd\u00fc \u00e7er\u00e7evesinde hareket etmektedir.<\/p>\n<ul>\n<li><b>CDP Ba\u015far\u0131s\u0131:<\/b> Karbon Saydaml\u0131k Projesi (CDP) kapsam\u0131nda \u0130klim De\u011fi\u015fikli\u011fi, Su G\u00fcvenli\u011fi ve Orman mod\u00fcllerinde &#8220;Triple A&#8221; derecesine ula\u015fan d\u00fcnyadaki say\u0131l\u0131 \u015firketlerden biri olmu\u015ftur.<\/li>\n<li><b>G\u0131da G\u00fcvenli\u011fi:<\/b> G\u0131da at\u0131\u011f\u0131n\u0131 azaltma ve yerli \u00fcreticiyi destekleme odakl\u0131 projeler \u00f6nceliklendirilmi\u015ftir.<\/li>\n<\/ul>\n<p><b>\u0130nsan Kaynaklar\u0131:<\/b><\/p>\n<ul>\n<li><b>End\u00fcstriyel \u0130li\u015fkiler:<\/b> Tez-Koop-\u0130\u015f Sendikas\u0131 ile 01.01.2024 \u2013 31.12.2026 d\u00f6nemini kapsayan Toplu \u0130\u015f S\u00f6zle\u015fmesi 2024 y\u0131l\u0131nda imzalanarak y\u00fcr\u00fcrl\u00fc\u011fe girmi\u015ftir.<\/li>\n<li><b>\u00c7al\u0131\u015fan Geli\u015fimi:<\/b> &#8220;CarrefourSA Akademi&#8221; \u00fczerinden mesleki ve ki\u015fisel geli\u015fim e\u011fitimleri s\u00fcrd\u00fcr\u00fclmektedir.<\/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>7. Raporlama D\u00f6nemi Sonras\u0131 Geli\u015fmeler<\/h2>\n<p>Faaliyet raporu d\u00f6neminden sonra (31 Aral\u0131k 2025 sonras\u0131) ger\u00e7ekle\u015fen iki kritik olay bulunmaktad\u0131r:<\/p>\n<ol>\n<li><b>Antalya Depo Yang\u0131n\u0131 (4 Ocak 2026):<\/b> Serik il\u00e7esindeki depoda meydana gelen yang\u0131n maddi hasara yol a\u00e7m\u0131\u015ft\u0131r. Varl\u0131klar 15,8 milyon ABD dolar\u0131 limitli sigorta kapsam\u0131ndad\u0131r ve hasar\u0131n bu limit dahilinde kalmas\u0131 beklenmektedir. Olay\u0131n faaliyet s\u00fcreklili\u011fine \u00f6nemli bir etkisi \u00f6ng\u00f6r\u00fclmemektedir.<\/li>\n<li><b>Kira Sertifikas\u0131 \u0130hrac\u0131 (18 \u015eubat 2026):<\/b> Y\u00f6netim Kurulu, fon kullan\u0131c\u0131s\u0131 olarak 15 milyar TL tutara kadar kira sertifikas\u0131 (sukuk) ihrac\u0131 yap\u0131lmas\u0131na karar vermi\u015ftir. Bu hamle, \u015firketin finansal yap\u0131s\u0131n\u0131 g\u00fc\u00e7lendirme ve likidite y\u00f6netimini sa\u011flama amac\u0131 ta\u015f\u0131maktad\u0131r.<\/li>\n<\/ol>\n<button class=\"simplefavorite-button\" data-postid=\"1643\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>CarrefourSA 2025 Y\u0131l\u0131 Faaliyet Raporunu A\u00e7\u0131klad\u0131: S\u00fcrd\u00fcr\u00fclebilirlikte &#8220;Triple A&#8221; Ba\u015far\u0131s\u0131 ve Yayg\u0131n Ma\u011faza A\u011f\u0131<br \/>\nCarrefourSA, 2025 y\u0131l\u0131 sonu\u00e7lar\u0131yla &#8220;Yeni Nesil Market&#8221; vizyonunu g\u00fc\u00e7lendirmeye devam ediyor! 83,6 milyar TL has\u0131lat ve 1.200&#8217;den fazla ma\u011fazaya ula\u015fan dev hizmet a\u011f\u0131yla perakende sekt\u00f6r\u00fcndeki yerini sa\u011flamla\u015ft\u0131ran \u015firket, sadece finansal verileriyle de\u011fil, \u00e7evresel ba\u015far\u0131lar\u0131yla da dikkat \u00e7ekiyor.<br \/>\nD\u00fcnya genelinde prestijli bir konum olan CDP &#8220;Triple A&#8221; derecesini elde eden CarrefourSA, s\u00fcrd\u00fcr\u00fclebilirli\u011fi i\u015f s\u00fcre\u00e7lerinin merkezine koydu\u011funu kan\u0131tlad\u0131. Franchise odakl\u0131 b\u00fcy\u00fcme stratejisi, 15 milyar TL&#8217;lik yeni kira sertifikas\u0131 ihrac\u0131 karar\u0131 ve dijital d\u00f6n\u00fc\u015f\u00fcm ad\u0131mlar\u0131yla CarrefourSA&#8217;n\u0131n 2025 y\u0131l\u0131ndaki t\u00fcm yol haritas\u0131n\u0131 ke\u015ffetmek i\u00e7in analizimize g\u00f6z at\u0131n.<br \/>\nOkumaya devam et&#8230;<\/p>\n","protected":false},"author":8,"featured_media":1297,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[251],"tags":[285],"class_list":["post-1643","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-faaliyetraporuanalizi","tag-crfsa"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1643","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\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/comments?post=1643"}],"version-history":[{"count":2,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1643\/revisions"}],"predecessor-version":[{"id":1647,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1643\/revisions\/1647"}],"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=1643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=1643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=1643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}