{"id":2169,"date":"2026-04-23T16:30:30","date_gmt":"2026-04-23T13:30:30","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=2169"},"modified":"2026-04-23T16:35:03","modified_gmt":"2026-04-23T13:35:03","slug":"arelik-2026-q1-finansal-raporu-hitachi-sat-ve-stratejik-devir-hamleleri","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/2169","title":{"rendered":"\ud83d\udd34 Ar\u00e7elik 2026 Q1 Finansal Raporu: Hitachi Sat\u0131\u015f\u0131 ve Stratejik Devir Hamleleri"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"\ud83d\udd34 Ar\u00e7elik 2026 Q1 Finansal Raporu: Hitachi Sat\u0131\u015f\u0131 ve Stratejik Devir Hamleleri\" width=\"858\" height=\"483\" src=\"https:\/\/www.youtube.com\/embed\/OxNq_rLjMX0?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<pre>\ud83d\udd34 ARCLK 2026-03 Bilan\u00e7o Analizi | Ar\u00e7elik AS\r\nAr\u00e7elik Anonim \u015eirketi'nin 1 Ocak - 31 Mart 2026 ara hesap d\u00f6nemine ait \u00f6zet konsolide finansal raporundan \u00f6ne \u00e7\u0131kan \u00f6nemli geli\u015fmeler ve veriler a\u015fa\u011f\u0131dad\u0131r:\r\n\u00d6ne \u00c7\u0131kan \u00d6nemli Bilgiler (Key Highlights)\r\nHas\u0131lat ve K\u00e2rl\u0131l\u0131k Durumu: Ar\u00e7elik'in 2026 y\u0131l\u0131 ilk \u00e7eyrek has\u0131lat\u0131, 31 Mart 2026 sat\u0131n alma g\u00fcc\u00fc esas\u0131na g\u00f6re 130.271.680 bin TL olarak ger\u00e7ekle\u015fmi\u015ftir (2025'in ayn\u0131 d\u00f6neminde 142.797.336 bin TL idi)\r\n. \u015eirket, bu d\u00f6nemi 2.214.344 bin TL net d\u00f6nem zarar\u0131 ile kapatm\u0131\u015ft\u0131r; ancak bu rakam ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemindeki 2.553.942 bin TL'lik zarara g\u00f6re bir iyile\u015fme g\u00f6stermektedir\r\n.\r\nB\u00f6lgesel ve Operasyonel Performans:\r\nBeyaz E\u015fya grubu 99,4 milyar TL ile has\u0131lat\u0131n en b\u00fcy\u00fck pay\u0131n\u0131 olu\u015fturmaya devam etmektedir\r\n.\r\nCo\u011frafi olarak en y\u00fcksek sat\u0131\u015f geliri 63,8 milyar TL ile Avrupa pazar\u0131ndan elde edilirken, T\u00fcrkiye pazar\u0131 42,2 milyar TL has\u0131lat sa\u011flam\u0131\u015ft\u0131r\r\n.\r\nStratejik Sat\u0131\u015f ve Yeniden Yap\u0131lanma:\r\nAr\u00e7elik Hitachi Sat\u0131\u015f\u0131: Bilan\u00e7o sonras\u0131 \u00f6nemli bir geli\u015fme olarak, Ar\u00e7elik Hitachi Home Appliances B.V.'nin %60 hissesinin Hitachi Global Life Solutions, Inc.'e sat\u0131lmas\u0131 i\u00e7in s\u00f6zle\u015fme imzalanm\u0131\u015ft\u0131r. Bu i\u015flemden yakla\u015f\u0131k 205 milyon ABD Dolar\u0131 pe\u015fin ve 56 milyon ABD Dolar\u0131 ek \u00f6deme al\u0131nmas\u0131 planlanmaktad\u0131r\r\n.\r\nKo\u00e7 Finansman Devri: Ar\u00e7elik'in pay sahibi oldu\u011fu Ko\u00e7 Finansman A.\u015e. sermayesinin tamam\u0131n\u0131n Ford Otomotiv Sanayi A.\u015e.\u2019ye devri i\u00e7in 13 Mart 2026'da bir Pay Al\u0131m Sat\u0131m S\u00f6zle\u015fmesi imzalanm\u0131\u015ft\u0131r\r\n.\r\nFinansal Durum: \u015eirketin toplam varl\u0131klar\u0131 31 Mart 2026 itibar\u0131yla 561.803.151 bin TL seviyesindedir\r\n. Toplam \u00f6zkaynaklar ise 78.357.091 bin TL olarak kaydedilmi\u015ftir\r\n.\r\nEnflasyon Muhasebesi Etkisi: Finansal tablolar, TMS 29 \"Y\u00fcksek Enflasyonlu Ekonomilerde Finansal Raporlama\" standard\u0131 uygulanarak, 31 Mart 2026 tarihindeki sat\u0131n alma g\u00fcc\u00fc cinsinden sunulmu\u015ftur\r\n.<\/pre>\n<h1>Ar\u00e7elik Anonim \u015eirketi: 1 Ocak &#8211; 31 Mart 2026 Ara Hesap D\u00f6nemi Finansal Brifing Raporu<\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu brifing belgesi, Ar\u00e7elik Anonim \u015eirketi\u2019nin (&#8220;Grup&#8221;) 31 Mart 2026 tarihinde sona eren \u00fc\u00e7 ayl\u0131k ara hesap d\u00f6nemine ait \u00f6zet konsolide finansal tablolar\u0131n\u0131 ve faaliyet sonu\u00e7lar\u0131n\u0131 analiz etmektedir. Grup, bu d\u00f6nemde TMS 29 &#8220;Y\u00fcksek Enflasyonlu Ekonomilerde Finansal Raporlama&#8221; standard\u0131n\u0131 uygulam\u0131\u015f olup, finansal veriler 31 Mart 2026 tarihindeki sat\u0131n alma g\u00fcc\u00fc esas\u0131na g\u00f6re sunulmu\u015ftur.<\/p>\n<p><b>Kritik \u00c7\u0131kar\u0131mlar:<\/b><\/p>\n<ul>\n<li><b>Has\u0131lat ve K\u00e2rl\u0131l\u0131k:<\/b> Grup&#8217;un has\u0131lat\u0131 bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re reel bazda %8,7 azalarak 130,3 milyar TL olarak ger\u00e7ekle\u015fmi\u015ftir. D\u00f6nem, 2,2 milyar TL net zarar ile kapat\u0131lm\u0131\u015ft\u0131r; ancak bu rakam, 2025&#8217;in ayn\u0131 d\u00f6nemindeki 2,5 milyar TL&#8217;lik zarara k\u0131yasla bir iyile\u015fme g\u00f6stermektedir.<\/li>\n<li><b>Enflasyon Muhasebesi Etkisi:<\/b> Grup, 6,15 milyar TL tutar\u0131nda net parasal pozisyon kazanc\u0131 elde etmi\u015ftir. Bu kazan\u00e7, y\u00fcksek enflasyon ortam\u0131nda parasal olmayan kalemlerin yeniden de\u011ferlenmesinden kaynaklanm\u0131\u015f ve d\u00f6nem zarar\u0131n\u0131n daha derinle\u015fmesini engellemi\u015ftir.<\/li>\n<li><b>Operasyonel Optimizasyon:<\/b> Tayland&#8217;daki buzdolab\u0131 i\u015fletmesinde \u00fcretimin durdurulmas\u0131 karar\u0131 al\u0131nm\u0131\u015f ve ilgili varl\u0131klar &#8220;Sat\u0131\u015f Ama\u00e7l\u0131 Elde Tutulan Varl\u0131klar&#8221; kategorisine s\u0131n\u0131fland\u0131r\u0131lm\u0131\u015ft\u0131r. Ayr\u0131ca personel say\u0131s\u0131nda stratejik bir azalma (53.401&#8217;den 45.744&#8217;e) g\u00f6zlemlenmektedir.<\/li>\n<li><b>Bor\u00e7 Yap\u0131s\u0131 ve Likidite:<\/b> Toplam varl\u0131klar 561,8 milyar TL, toplam \u00f6zkaynaklar ise 78,4 milyar TL seviyesindedir. Grup, y\u00fcksek bor\u00e7luluk yap\u0131s\u0131n\u0131 y\u00f6netmek i\u00e7in aktif bir t\u00fcrev ara\u00e7 kullan\u0131m\u0131 ve riskten korunma (hedging) stratejisi y\u00fcr\u00fctmektedir.<\/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>Kurumsal Organizasyon ve Faaliyet Alan\u0131<\/h2>\n<p>Ar\u00e7elik, dayan\u0131kl\u0131 t\u00fcketim ve t\u00fcketici elektroni\u011fi sekt\u00f6rlerinde \u00fcretim, sat\u0131\u015f ve sat\u0131\u015f sonras\u0131 hizmetler alan\u0131nda k\u00fcresel bir oyuncu olarak faaliyet g\u00f6stermektedir.<\/p>\n<ul>\n<li><b>\u00dcretim A\u011f\u0131:<\/b> T\u00fcrkiye, Romanya, Rusya, \u00c7in, G\u00fcney Afrika, Polonya, Slovakya, \u0130talya, Tayland, Hindistan, Pakistan, Banglade\u015f ve M\u0131s\u0131r dahil olmak \u00fczere toplam <b>38 fabrikada<\/b> \u00fcretim yap\u0131lmaktad\u0131r.<\/li>\n<li><b>\u0130stihdam:<\/b> 2026&#8217;n\u0131n ilk \u00e7eyre\u011fi itibar\u0131yla ortalama personel say\u0131s\u0131 11.682 ayl\u0131k \u00fccretli ve 34.062 saat \u00fccretli olmak \u00fczere toplam <b>45.744<\/b> ki\u015fidir.<\/li>\n<li><b>Ortakl\u0131k Yap\u0131s\u0131:<\/b> \u015eirket, Ko\u00e7 Holding A.\u015e. (%48,53) ve Ko\u00e7 Ailesi taraf\u0131ndan kontrol edilmektedir. Halka a\u00e7\u0131kl\u0131k oran\u0131 %17,86&#8217;d\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>Finansal Durum ve Performans Analizi<\/h2>\n<h3>Gelir Tablosu \u00d6zeti (31 Mart 2026 Sona Eren D\u00f6nem)<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem<\/td>\n<td>2026 (Bin TL)<\/td>\n<td>2025 (Bin TL &#8211; D\u00fczeltilmi\u015f)<\/td>\n<\/tr>\n<tr>\n<td><b>Has\u0131lat<\/b><\/td>\n<td>130.271.680<\/td>\n<td>142.797.336<\/td>\n<\/tr>\n<tr>\n<td><b>Br\u00fct K\u00e2r<\/b><\/td>\n<td>38.821.985<\/td>\n<td>40.928.087<\/td>\n<\/tr>\n<tr>\n<td><b>Esas Faaliyet K\u00e2r\u0131<\/b><\/td>\n<td>234.374<\/td>\n<td>3.278.078<\/td>\n<\/tr>\n<tr>\n<td><b>Net Parasal Pozisyon Kazan\u00e7lar\u0131<\/b><\/td>\n<td>6.155.206<\/td>\n<td>5.682.362<\/td>\n<\/tr>\n<tr>\n<td><b>Vergi \u00d6ncesi K\u00e2r \/ (Zarar)<\/b><\/td>\n<td>301.051<\/td>\n<td>(1.247.206)<\/td>\n<\/tr>\n<tr>\n<td><b>Net D\u00f6nem Zarar\u0131<\/b><\/td>\n<td>(2.214.344)<\/td>\n<td>(2.553.942)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>B\u00f6l\u00fcmlere G\u00f6re Performans<\/h3>\n<p>Has\u0131lat\u0131n b\u00fcy\u00fck \u00e7o\u011funlu\u011fu Beyaz E\u015fya segmentinden elde edilmektedir:<\/p>\n<ul>\n<li><b>Beyaz E\u015fya:<\/b> 99,4 milyar TL has\u0131lat, 28,8 milyar TL br\u00fct k\u00e2r.<\/li>\n<li><b>T\u00fcketici Elektroni\u011fi:<\/b> 5,5 milyar TL has\u0131lat, 872 milyon TL br\u00fct k\u00e2r.<\/li>\n<li><b>Di\u011fer (Klima, K\u00fc\u00e7\u00fck Ev Aletleri vb.):<\/b> 25,3 milyar TL has\u0131lat, 9,1 milyar TL br\u00fct k\u00e2r.<\/li>\n<\/ul>\n<h3>Co\u011frafi Sat\u0131\u015f Da\u011f\u0131l\u0131m\u0131<\/h3>\n<p>Grup&#8217;un en b\u00fcy\u00fck pazar\u0131 Avrupa olmaya devam etmektedir:<\/p>\n<ol>\n<li><b>Avrupa:<\/b> 63,8 milyar TL<\/li>\n<li><b>T\u00fcrkiye:<\/b> 42,2 milyar TL<\/li>\n<li><b>Asya-Pasifik:<\/b> 12,7 milyar TL<\/li>\n<li><b>Afrika:<\/b> 6,5 milyar TL<\/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>Bor\u00e7lanma Yap\u0131s\u0131 ve Finansman Faaliyetleri<\/h2>\n<p>Grup, faaliyetlerini finanse etmek ve riskleri y\u00f6netmek i\u00e7in \u00e7e\u015fitli para birimlerinde bor\u00e7lanma ara\u00e7lar\u0131 kullanmaktad\u0131r.<\/p>\n<p><b>K\u0131sa ve Uzun Vadeli Bor\u00e7lanmalar:<\/b><\/p>\n<ul>\n<li><b>Toplam Bor\u00e7lanma:<\/b> 31 Mart 2026 itibar\u0131yla k\u0131sa vadeli bor\u00e7lanmalar 126,1 milyar TL, uzun vadeli bor\u00e7lanmalar ise 89,5 milyar TL d\u00fczeyindedir.<\/li>\n<li><b>Tahvil \u0130hra\u00e7lar\u0131:<\/b>\n<ul>\n<li>2021 y\u0131l\u0131nda ihra\u00e7 edilen 350 milyon Avro tutar\u0131nda <b>Ye\u015fil Tahvil<\/b> (Vade: May\u0131s 2026).<\/li>\n<li>2023 y\u0131l\u0131nda ihra\u00e7 edilen toplam 500 milyon ABD Dolar\u0131 tutar\u0131nda tahvil (Vade: Eyl\u00fcl 2028).<\/li>\n<li>2025 y\u0131l\u0131nda ihra\u00e7 edilen 2,5 milyar TL nominal de\u011ferli tahvil.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><b>Nakit Ak\u0131\u015f\u0131:<\/b><\/p>\n<ul>\n<li>\u0130\u015fletme faaliyetlerinden kaynaklanan nakit ak\u0131\u015f\u0131 16,4 milyar TL negatif olarak ger\u00e7ekle\u015fmi\u015ftir.<\/li>\n<li>Yat\u0131r\u0131m faaliyetleri i\u00e7in 3,1 milyar TL nakit \u00e7\u0131k\u0131\u015f\u0131 olmu\u015ftur.<\/li>\n<li>D\u00f6nem sonu nakit ve nakit benzerleri 78,7 milyar TL&#8217;dir (D\u00f6nem ba\u015f\u0131: 107 milyar TL).<\/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>Stratejik Geli\u015fmeler ve \u00d6nemli Olaylar<\/h2>\n<h3>Operasyonel Yeniden Yap\u0131land\u0131rma<\/h3>\n<ul>\n<li><b>Tayland Fabrikas\u0131:<\/b> K\u00fcresel verimlilik ve optimizasyon \u00e7al\u0131\u015fmalar\u0131 kapsam\u0131nda Tayland Rayong&#8217;daki buzdolab\u0131 i\u015fletmesinde \u00fcretim durdurulmu\u015ftur. Bu tesisle ilgili 5,76 milyar TL tutar\u0131ndaki varl\u0131k &#8220;sat\u0131\u015f ama\u00e7l\u0131&#8221; olarak s\u0131n\u0131fland\u0131r\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>Asya-Pasifik ve Avrupa:<\/b> B\u00f6lgesel yeniden yap\u0131land\u0131rma s\u00fcre\u00e7leri kapsam\u0131nda 2026&#8217;n\u0131n ilk \u00e7eyre\u011finde 1,44 milyar TL toplam nakit \u00e7\u0131k\u0131\u015f\u0131 ger\u00e7ekle\u015fmi\u015ftir.<\/li>\n<\/ul>\n<h3>\u0130\u015ftirak Sat\u0131\u015f Anla\u015fmas\u0131<\/h3>\n<ul>\n<li><b>Ko\u00e7 Finansman A.\u015e.:<\/b> Grup&#8217;un %47 pay sahibi oldu\u011fu Ko\u00e7 Finansman&#8217;\u0131n t\u00fcm sermayesinin Ford Otomotiv Sanayi A.\u015e.&#8217;ye devrine ili\u015fkin 13 Mart 2026 tarihinde bir Pay Al\u0131m Sat\u0131m S\u00f6zle\u015fmesi imzalanm\u0131\u015ft\u0131r. \u0130\u015flem, ilgili otoritelerin onay\u0131na ba\u011fl\u0131d\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>Risk Y\u00f6netimi ve T\u00fcrev Ara\u00e7lar<\/h2>\n<p>Grup, yayg\u0131n co\u011frafi faaliyetleri nedeniyle ciddi d\u00f6viz kuru ve faiz riskine maruz kalmaktad\u0131r.<\/p>\n<ul>\n<li><b>D\u00f6viz Pozisyonu:<\/b> Riskten korunma ara\u00e7lar\u0131 sonras\u0131 net yabanc\u0131 para pozisyonu 18,2 milyar TL eksidedir.<\/li>\n<li><b>Hedging (Korunma) Stratejileri:<\/b>\n<ul>\n<li><b>Net Yat\u0131r\u0131m Riski:<\/b> Avrupa, Rusya ve Asya-Pasifik&#8217;teki ba\u011fl\u0131 ortakl\u0131klardan kaynaklanan riskler, Avro bazl\u0131 tahviller ve Ruble bazl\u0131 ko\u015fullu y\u00fck\u00fcml\u00fcl\u00fckler ile dengelenmektedir.<\/li>\n<li><b>Nakit Ak\u0131\u015f Riski:<\/b> Gelecekteki Avro ve ABD Dolar\u0131 bazl\u0131 sat\u0131\u015f gelirleri, swap i\u015flemleri ve krediler ile parite riskine kar\u015f\u0131 korunmaktad\u0131r.<\/li>\n<\/ul>\n<\/li>\n<li><b>Duyarl\u0131l\u0131k Analizi:<\/b> Kur de\u011fi\u015fimlerinin (%10 de\u011fer kayb\u0131\/kazanc\u0131) net etki olarak k\u00e2r\/zarar \u00fczerinde 7,75 milyar TL&#8217;lik bir potansiyel etkisi bulunmaktad\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>\u00d6nemli Notlar ve Vergi Durumu<\/h2>\n<ul>\n<li><b>Ertelenmi\u015f Vergi:<\/b> Grup, yat\u0131r\u0131m te\u015fvikleri kapsam\u0131nda \u00f6ng\u00f6r\u00fclebilir gelecekte faydalanaca\u011f\u0131 11,2 milyar TL tutar\u0131nda vergi avantaj\u0131n\u0131 ertelenmi\u015f vergi varl\u0131\u011f\u0131 olarak bilan\u00e7osunda ta\u015f\u0131maktad\u0131r.<\/li>\n<li><b>Pay Geri Al\u0131m\u0131:<\/b> \u015eirket sermayesinin %2,90&#8217;\u0131na tekab\u00fcl eden geri al\u0131nm\u0131\u015f paylar \u00f6zkaynaklar alt\u0131nda 5,2 milyar TL negatif de\u011ferle izlenmektedir.<\/li>\n<li><b>\u0130li\u015fkili Taraflar:<\/b> D\u00f6nem i\u00e7inde Ko\u00e7 Toplulu\u011fu \u015firketleriyle (Yap\u0131 Kredi, Zer, Ar\u00e7elik-LG vb.) ticari faaliyetler devam etmi\u015ftir. En b\u00fcy\u00fck ili\u015fkili taraf ticari borcu 5,1 milyar TL ile Ar\u00e7elik-LG&#8217;ye aittir.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h3 class=\"paragraph is-rich-chat-ui heading2 ng-star-inserted\" role=\"heading\" data-start-index=\"5520\" aria-level=\"2\"><span class=\"ng-star-inserted\" data-start-index=\"5520\">Terimler S\u00f6zl\u00fc\u011f\u00fc<\/span><\/h3>\n<div class=\"paragraph is-rich-chat-ui normal ng-star-inserted\" data-start-index=\"5545\"><span class=\"ng-star-inserted\" data-start-index=\"5545\">Finansal tablolarda ve notlarda ge\u00e7en temel terimlerin tan\u0131mlar\u0131 a\u015fa\u011f\u0131da sunulmu\u015ftur:<\/span><\/div>\n<table class=\"is-rich-chat-ui\" data-start-index=\"5630\">\n<tbody>\n<tr class=\"ng-star-inserted\">\n<th class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"5630\"><span class=\"ng-star-inserted\" data-start-index=\"5630\">Terim<\/span><\/div>\n<\/th>\n<th class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"5635\"><span class=\"ng-star-inserted\" data-start-index=\"5635\">Tan\u0131m<\/span><\/div>\n<\/th>\n<\/tr>\n<tr class=\"ng-star-inserted\">\n<td class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"5640\"><b class=\"ng-star-inserted\" data-start-index=\"5640\">TMS 29<\/b><\/div>\n<\/td>\n<td class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"5646\"><span class=\"ng-star-inserted\" data-start-index=\"5646\">Y\u00fcksek enflasyonlu ekonomilerde finansal tablolar\u0131n paran\u0131n sat\u0131n alma g\u00fcc\u00fcndeki de\u011fi\u015fime g\u00f6re d\u00fczeltilmesini \u00f6ng\u00f6ren standart.<\/span><\/div>\n<\/td>\n<\/tr>\n<tr class=\"ng-star-inserted\">\n<td class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"5773\"><b class=\"ng-star-inserted\" data-start-index=\"5773\">\u00d6zkaynak Y\u00f6ntemi<\/b><\/div>\n<\/td>\n<td class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"5789\"><span class=\"ng-star-inserted\" data-start-index=\"5789\">\u0130\u015ftirak ve i\u015f ortakl\u0131klar\u0131ndaki yat\u0131r\u0131mlar\u0131n, yat\u0131r\u0131mc\u0131n\u0131n bu i\u015fletmelerin net varl\u0131klar\u0131ndaki pay\u0131na g\u00f6re muhasebele\u015ftirilmesi y\u00f6ntemi.<\/span><\/div>\n<\/td>\n<\/tr>\n<tr class=\"ng-star-inserted\">\n<td class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"5925\"><b class=\"ng-star-inserted\" data-start-index=\"5925\">Net Parasal Pozisyon<\/b><\/div>\n<\/td>\n<td class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"5945\"><span class=\"ng-star-inserted\" data-start-index=\"5945\">Parasal varl\u0131klar ile parasal y\u00fck\u00fcml\u00fcl\u00fckler aras\u0131ndaki fark\u0131n enflasyon kar\u015f\u0131s\u0131ndaki kazan\u00e7 veya kayb\u0131.<\/span><\/div>\n<\/td>\n<\/tr>\n<tr class=\"ng-star-inserted\">\n<td class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"6048\"><b class=\"ng-star-inserted\" data-start-index=\"6048\">\u015eerefiye (Goodwill)<\/b><\/div>\n<\/td>\n<td class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"6067\"><span class=\"ng-star-inserted\" data-start-index=\"6067\">Bir i\u015fletmenin iktisap edilmesi s\u0131ras\u0131nda \u00f6denen bedel ile al\u0131nan net varl\u0131klar\u0131n ger\u00e7e\u011fe uygun de\u011feri aras\u0131ndaki pozitif fark.<\/span><\/div>\n<\/td>\n<\/tr>\n<tr class=\"ng-star-inserted\">\n<td class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"6194\"><b class=\"ng-star-inserted\" data-start-index=\"6194\">T\u00fcrev Ara\u00e7lar<\/b><\/div>\n<\/td>\n<td class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"6207\"><span class=\"ng-star-inserted\" data-start-index=\"6207\">De\u011feri ba\u015fka bir finansal varl\u0131\u011fa veya de\u011fi\u015fkene (d\u00f6viz, faiz vb.) ba\u011fl\u0131 olan, risk y\u00f6netimi ama\u00e7l\u0131 kullan\u0131lan finansal kontratlar.<\/span><\/div>\n<\/td>\n<\/tr>\n<tr class=\"ng-star-inserted\">\n<td class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"6338\"><b class=\"ng-star-inserted\" data-start-index=\"6338\">Sat\u0131\u015f Ama\u00e7l\u0131 Elde Tutulan Varl\u0131klar<\/b><\/div>\n<\/td>\n<td class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"6373\"><span class=\"ng-star-inserted\" data-start-index=\"6373\">Kay\u0131tl\u0131 de\u011ferinin devam eden kullan\u0131mdan ziyade sat\u0131\u015f yoluyla geri kazan\u0131lmas\u0131 planlanan duran varl\u0131klar.<\/span><\/div>\n<\/td>\n<\/tr>\n<tr class=\"ng-star-inserted\">\n<td class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"6478\"><b class=\"ng-star-inserted\" data-start-index=\"6478\">TFRS 9<\/b><\/div>\n<\/td>\n<td class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"6484\"><span class=\"ng-star-inserted\" data-start-index=\"6484\">Finansal ara\u00e7lar\u0131n (alacaklar, bor\u00e7lar, yat\u0131r\u0131mlar) s\u0131n\u0131fland\u0131r\u0131lmas\u0131 ve \u00f6l\u00e7\u00fcm\u00fcne ili\u015fkin standart; \u00f6zellikle &#8220;beklenen kredi zarar\u0131&#8221; kar\u015f\u0131l\u0131\u011f\u0131n\u0131 d\u00fczenler.<\/span><\/div>\n<\/td>\n<\/tr>\n<tr class=\"ng-star-inserted\">\n<td class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"6639\"><b class=\"ng-star-inserted\" data-start-index=\"6639\">Kullan\u0131m Hakk\u0131 Varl\u0131klar\u0131<\/b><\/div>\n<\/td>\n<td class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"6664\"><span class=\"ng-star-inserted\" data-start-index=\"6664\">TFRS 16 kapsam\u0131nda, bir kira s\u00f6zle\u015fmesi uyar\u0131nca kiralanan varl\u0131\u011f\u0131n kullan\u0131m hakk\u0131n\u0131 temsil eden duran varl\u0131k kalemi.<\/span><\/div>\n<\/td>\n<\/tr>\n<tr class=\"ng-star-inserted\">\n<td class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"6781\"><b class=\"ng-star-inserted\" data-start-index=\"6781\">TR\u0130K<\/b><\/div>\n<\/td>\n<td class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"6785\"><span class=\"ng-star-inserted\" data-start-index=\"6785\">\u015eirket taraf\u0131ndan verilen Teminat, Rehin, \u0130potek ve Kefaletlerin toplam pozisyonunu ifade eden k\u0131saltma.<\/span><\/div>\n<\/td>\n<\/tr>\n<tr class=\"ng-star-inserted\">\n<td class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"6889\"><b class=\"ng-star-inserted\" data-start-index=\"6889\">Has\u0131lat<\/b><\/div>\n<\/td>\n<td class=\"ng-star-inserted\">\n<div class=\"paragraph is-rich-chat-ui table-paragraph normal ng-star-inserted\" data-start-index=\"6896\"><span class=\"ng-star-inserted\" data-start-index=\"6896\">\u015eirketin ana faaliyetleri \u00e7er\u00e7evesinde mal sat\u0131\u015flar\u0131 veya hizmet sunumlar\u0131ndan elde etti\u011fi br\u00fct ekonomik fayda ak\u0131\u015f\u0131.<\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<button class=\"simplefavorite-button\" data-postid=\"2169\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>Ar\u00e7elik 2026 \u0130lk \u00c7eyrek Finansal Sonu\u00e7lar\u0131n\u0131 A\u00e7\u0131klad\u0131: Stratejik D\u00f6n\u00fc\u015f\u00fcm ve K\u00fcresel Yeniden Yap\u0131lanma Odakta<br \/>\nAr\u00e7elik, 2026 y\u0131l\u0131n\u0131n ilk \u00fc\u00e7 ayl\u0131k d\u00f6nemine ait konsolide finansal raporunu yay\u0131mlad\u0131. Y\u00fcksek enflasyon d\u00fczeltmesi uygulanm\u0131\u015f verilere g\u00f6re \u015firket, k\u00fcresel pazarlardaki etkinli\u011fini s\u00fcrd\u00fcr\u00fcrken, \u00f6zellikle Ar\u00e7elik Hitachi hisselerinin sat\u0131\u015f\u0131 ve Ko\u00e7 Finansman\u2019\u0131n devri gibi kritik stratejik hamlelerle dikkat \u00e7ekiyor. Avrupa pazar\u0131ndaki liderli\u011fini 63,8 milyar TL&#8217;lik has\u0131latla peki\u015ftiren Ar\u00e7elik, net zarar\u0131n\u0131 ge\u00e7en y\u0131la oranla minimize ederek operasyonel verimlilik \u00e7al\u0131\u015fmalar\u0131na h\u0131z verdi. Raporda \u00f6ne \u00e7\u0131kan t\u00fcm finansal detaylar ve \u015firketin gelecek vizyonuna dair ipu\u00e7lar\u0131 yaz\u0131m\u0131zda.<\/p>\n","protected":false},"author":4,"featured_media":1725,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[198],"class_list":["post-2169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-arclk"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2169","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\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/comments?post=2169"}],"version-history":[{"count":4,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2169\/revisions"}],"predecessor-version":[{"id":2170,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2169\/revisions\/2170"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media\/1725"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media?parent=2169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=2169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=2169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}