{"id":2174,"date":"2026-04-23T16:36:57","date_gmt":"2026-04-23T13:36:57","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=2174"},"modified":"2026-04-23T16:40:02","modified_gmt":"2026-04-23T13:40:02","slug":"arelikten-stratejik-karar-2026-faaliyet-raporu-sat-rakamlar-ve-kr-datm-politikas","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/2174","title":{"rendered":"\ud83d\udd35 Ar\u00e7elik\u2019ten Stratejik Karar: 2026 Faaliyet Raporu, Sat\u0131\u015f Rakamlar\u0131 ve K\u00e2r Da\u011f\u0131t\u0131m Politikas\u0131"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"\ud83d\udd35 Ar\u00e7elik\u2019ten Stratejik Karar: 2026 Faaliyet Raporu, Sat\u0131\u015f Rakamlar\u0131 ve K\u00e2r Da\u011f\u0131t\u0131m Politikas\u0131\" width=\"858\" height=\"483\" src=\"https:\/\/www.youtube.com\/embed\/iD-PMg3XJJQ?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\udd35 ARCLK 2026-03 Faaliyet Raporu Analizi | Ar\u00e7elik AS\r\nAr\u00e7elik 2026 Birinci \u00c7eyrek Faaliyet Raporu \u00d6ne \u00c7\u0131kanlar\r\nK\u00fcresel Operasyon G\u00fcc\u00fc ve Marka Portf\u00f6y\u00fc: Ar\u00e7elik, 13 \u00fclkede 38 \u00fcretim tesisi ve yakla\u015f\u0131k 45.000 \u00e7al\u0131\u015fan\u0131yla faaliyetlerini s\u00fcrd\u00fcrmektedir\r\n. \u015eirket, aralar\u0131nda Ar\u00e7elik, Beko, Grundig ve Whirlpool'un (limitli hak) da bulundu\u011fu 22 markaya sahiptir\r\n.\r\nFinansal Performans: 2026'n\u0131n ilk \u00fc\u00e7 ay\u0131nda konsolide net ciro, enflasyon etkileri dahil ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re %8,8 azalarak 130 milyar TL olarak ger\u00e7ekle\u015fmi\u015ftir\r\n. Br\u00fct k\u00e2r marj\u0131 %29,8'e y\u00fckselirken, net k\u00e2r marj\u0131 %-1,7 ile s\u0131n\u0131rl\u0131 bir zarar b\u00f6lgesi kaydetmi\u015ftir\r\n.\r\nPazar Liderli\u011fi ve Uluslararas\u0131 Sat\u0131\u015flar: T\u00fcrkiye beyaz e\u015fya pazar\u0131ndaki %10,1'lik daralmaya ra\u011fmen Ar\u00e7elik, pazar liderli\u011fini korumu\u015ftur\r\n. Toplam sat\u0131\u015flar\u0131n %66,8'i yurt d\u0131\u015f\u0131 pazarlardan elde edilmi\u015ftir\r\n. Beko markas\u0131, Avrupa pazar\u0131nda adet baz\u0131nda ilk 3 marka aras\u0131nda yer almaktad\u0131r\r\n.\r\nStratejik Y\u00f6netim De\u011fi\u015fikli\u011fi: Mart 2026 itibar\u0131yla Can Din\u00e7er, Beko (Ar\u00e7elik A.\u015e.) Genel M\u00fcd\u00fcr\u00fc olarak atanm\u0131\u015ft\u0131r\r\n.\r\nHitachi Paylar\u0131n\u0131n Sat\u0131\u015f\u0131: Bilan\u00e7o sonras\u0131 \u00f6nemli bir geli\u015fme olarak, Ar\u00e7elik Hitachi Home Appliances B.V.'deki %60 pay\u0131n Hitachi'ye sat\u0131\u015f\u0131 i\u00e7in anla\u015fma sa\u011flanm\u0131\u015ft\u0131r\r\n. Bu i\u015flemden 205 milyon ABD dolar\u0131 pe\u015fin \u00f6deme al\u0131nmas\u0131 beklenmektedir\r\n.\r\nAr-Ge ve Dijital D\u00f6n\u00fc\u015f\u00fcm: \u015eirket, y\u0131l\u0131n ilk \u00e7eyre\u011finde Ar-Ge faaliyetlerine 2,3 milyar TL kaynak ay\u0131rm\u0131\u015ft\u0131r\r\n. Ayr\u0131ca \u00e7al\u0131\u015fanlar\u0131n yapay zeka yetkinliklerini art\u0131rmak i\u00e7in \"Ar-Ge AI\/ML Geli\u015fim Program\u0131\" ve \"AI Infusion\" gibi projeler y\u00fcr\u00fct\u00fclmektedir\r\n.\r\nS\u00fcrd\u00fcr\u00fclebilirlik Ba\u015far\u0131lar\u0131: Ar\u00e7elik, 2026 \"Clean 200\" listesinde 80. s\u0131rada, Avrupa'n\u0131n en s\u00fcrd\u00fcr\u00fclebilir 50 \u015firketi listesinde ise 23. s\u0131rada yer alm\u0131\u015ft\u0131r\r\n.\r\nK\u00e2r Da\u011f\u0131t\u0131m Karar\u0131: Likidite pozisyonunu g\u00fc\u00e7lendirmek ve bilan\u00e7o yap\u0131s\u0131n\u0131 sa\u011flamla\u015ft\u0131rmak amac\u0131yla, bu y\u0131l k\u00e2r pay\u0131 da\u011f\u0131t\u0131m\u0131 yap\u0131lmamas\u0131 kararla\u015ft\u0131r\u0131lm\u0131\u015ft\u0131r\r\n.<\/pre>\n<h1>Ar\u00e7elik A.\u015e. 2026 Birinci \u00c7eyrek Faaliyet ve Stratejik De\u011ferlendirme Raporu<\/h1>\n<p>Bu belge, Ar\u00e7elik A.\u015e.&#8217;nin 1 Ocak \u2013 31 Mart 2026 d\u00f6nemini kapsayan ara d\u00f6nem faaliyet raporu verilerine dayanarak haz\u0131rlanan kapsaml\u0131 bir bilgilendirme notudur. Belge, \u015firketin finansal performans\u0131n\u0131, pazar konumunu, operasyonel stratejilerini ve s\u00fcrd\u00fcr\u00fclebilirlik hedeflerini sentezlemektedir.<\/p>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011fi, Ar\u00e7elik A.\u015e. i\u00e7in k\u00fcresel ve yerel pazar daralmalar\u0131na kar\u015f\u0131 operasyonel verimlili\u011fin ve stratejik d\u00f6n\u00fc\u015f\u00fcm\u00fcn \u00f6n plana \u00e7\u0131kt\u0131\u011f\u0131 bir d\u00f6nem olmu\u015ftur. T\u00fcrkiye beyaz e\u015fya pazar\u0131ndaki %10,1&#8217;lik daralmaya ra\u011fmen \u015firket pazar liderli\u011fini korumu\u015f, Beko markas\u0131yla Avrupa pazar\u0131nda ilk \u00fc\u00e7teki yerini muhafaza etmi\u015ftir. Konsolide net ciro enflasyon etkisiyle y\u0131ll\u0131k %8,8 azalarak 130 milyar TL olarak ger\u00e7ekle\u015firken, br\u00fct k\u00e2r marj\u0131 ve FVA\u00d6K marj\u0131nda ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re iyile\u015fme kaydedilmi\u015ftir. D\u00f6nemin en kritik geli\u015fmeleri aras\u0131nda \u00fcst y\u00f6netim kadrolar\u0131ndaki kapsaml\u0131 yeniden yap\u0131lanma, yapay zek\u00e2 odakl\u0131 yetkinlik geli\u015ftirme programlar\u0131 ve bilan\u00e7o sonras\u0131 a\u00e7\u0131klanan Ar\u00e7elik Hitachi paylar\u0131n\u0131n Hitachi&#8217;ye sat\u0131\u015f karar\u0131 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>1. Finansal Performans ve Pazar Analizi<\/h2>\n<p>\u015eirketin finansal verileri, zorlu makroekonomik ko\u015fullar alt\u0131nda k\u00e2rl\u0131l\u0131k marjlar\u0131n\u0131 koruma \u00e7abas\u0131n\u0131 yans\u0131tmaktad\u0131r.<\/p>\n<h3>Temel Finansal G\u00f6stergeler ve Rasyolar<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>G\u00f6sterge<\/td>\n<td>31 Mart 2026<\/td>\n<td>31 Mart 2025<\/td>\n<\/tr>\n<tr>\n<td>Konsolide Net Ciro<\/td>\n<td>130 Milyar TL<\/td>\n<td>&#8211;<\/td>\n<\/tr>\n<tr>\n<td>Br\u00fct K\u00e2r Marj\u0131<\/td>\n<td>%29,8<\/td>\n<td>%28,7<\/td>\n<\/tr>\n<tr>\n<td>FVA\u00d6K Marj\u0131<\/td>\n<td>%5,9<\/td>\n<td>%5,2<\/td>\n<\/tr>\n<tr>\n<td>Faaliyet K\u00e2r Marj\u0131<\/td>\n<td>%1,6<\/td>\n<td>%0,9<\/td>\n<\/tr>\n<tr>\n<td>Net K\u00e2r\/Zarar Marj\u0131<\/td>\n<td>%(-1,7)<\/td>\n<td>%(-1,8)<\/td>\n<\/tr>\n<tr>\n<td>Yat\u0131r\u0131m Harcamalar\u0131<\/td>\n<td>3.258 Milyon TL<\/td>\n<td>4.307 Milyon TL<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li><b>Sat\u0131\u015f Da\u011f\u0131l\u0131m\u0131:<\/b> Konsolide yurt d\u0131\u015f\u0131 sat\u0131\u015flar\u0131n toplam sat\u0131\u015flar i\u00e7indeki pay\u0131 %66,8 seviyesinde g\u00fc\u00e7l\u00fc kalmaya devam etmektedir.<\/li>\n<li><b>Likidite ve Bor\u00e7luluk:<\/b> Net finansal bor\u00e7 \/ \u00d6zkaynak oran\u0131 2,19&#8217;a y\u00fckselirken, cari oran 0,94 olarak ger\u00e7ekle\u015fmi\u015ftir.<\/li>\n<\/ul>\n<h3>Sekt\u00f6rel Geli\u015fmeler ve Pazar Pay\u0131<\/h3>\n<ul>\n<li><b>T\u00fcrkiye:<\/b> 6 ana \u00fcr\u00fcn grubunda pazar %10,1 k\u00fc\u00e7\u00fclm\u00fc\u015ft\u00fcr; ancak Ar\u00e7elik liderli\u011fini s\u00fcrd\u00fcrmektedir.<\/li>\n<li><b>Avrupa:<\/b> Bat\u0131 Avrupa pazar\u0131 adet baz\u0131nda %1,9 b\u00fcy\u00fcrken, Beko markas\u0131 toplam Avrupa pazar\u0131nda pazar pay\u0131 bak\u0131m\u0131ndan ilk 3 marka aras\u0131nda yer almaktad\u0131r. Birle\u015fik Krall\u0131k&#8217;ta Beko pazar lideridir.<\/li>\n<li><b>G\u00fcney Afrika:<\/b> Defy markas\u0131 ile pazar liderli\u011fi korunmaktad\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>2. Operasyonel Yap\u0131 ve \u00dcretim Kapasitesi<\/h2>\n<p>Ar\u00e7elik, 13 \u00fclkede 38 \u00fcretim tesisi ve yakla\u015f\u0131k 45.000 \u00e7al\u0131\u015fan\u0131yla devasa bir operasyonel a\u011f y\u00f6netmektedir.<\/p>\n<ul>\n<li><b>\u00dcretim Adetleri:<\/b> 2026&#8217;n\u0131n ilk \u00e7eyre\u011finde 8.237 bin adet beyaz e\u015fya ve 241 bin adet yass\u0131 ekran televizyon \u00fcretilmi\u015ftir. Ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re \u00fcretim adetlerinde stratejik bir dengelenme g\u00f6zlenmektedir.<\/li>\n<li><b>Global \u00dcretim A\u011f\u0131:<\/b> \u00dcretim tesisleri T\u00fcrkiye, \u0130talya, Romanya, Slovakya, Polonya, G\u00fcney Afrika, Rusya, Pakistan, Hindistan, Banglade\u015f, Tayland, \u00c7in ve M\u0131s\u0131r&#8217;a yay\u0131lm\u0131\u015ft\u0131r. \u00d6zellikle \u0130talya ve Polonya&#8217;daki Beko Europe tesisleri operasyonel a\u011f\u0131rl\u0131\u011f\u0131n\u0131 korumaktad\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>3. Sermaye Yap\u0131s\u0131 ve Pay Geri Al\u0131mlar\u0131<\/h2>\n<p>\u015eirketin sermaye yap\u0131s\u0131 ve pay y\u00f6netimi stratejik bir d\u00f6n\u00fc\u015f\u00fcmden ge\u00e7mi\u015ftir.<\/p>\n<ul>\n<li><b>Ortakl\u0131k Yap\u0131s\u0131:<\/b> Ko\u00e7 Holding A.\u015e. %48,53 pay ile ana hissedard\u0131r. Geri al\u0131nm\u0131\u015f paylar\u0131n oran\u0131 %2,90&#8217;d\u0131r.<\/li>\n<li><b>Geri Al\u0131m Program\u0131n\u0131n Sonu:<\/b> 2021&#8217;de ba\u015flayan ve 2025&#8217;te sona eren program kapsam\u0131nda sermayenin %10,19&#8217;u geri al\u0131nm\u0131\u015ft\u0131r. Mevzuat gere\u011fi, %10&#8217;u a\u015fan k\u0131sm\u0131n sat\u0131\u015f\u0131 kapsam\u0131nda:\n<ul>\n<li>27.06.2025&#8217;te 1,3 milyon TL nominal de\u011ferli pay Ko\u00e7 Holding Emeklilik ve Yard\u0131m Sand\u0131\u011f\u0131 Vakf\u0131&#8217;na sat\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li>24.12.2025&#8217;te 48 milyon TL nominal de\u011ferli pay (~%7,1 pay) 5,2 milyar TL bedelle Ko\u00e7 Holding A.\u015e.&#8217;ye devredilmi\u015ftir.<\/li>\n<\/ul>\n<\/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. Kurumsal Y\u00f6netim ve \u00dcst D\u00fczey Atamalar<\/h2>\n<p>Mart 2026 itibar\u0131yla \u015firketin y\u00f6netim kademelerinde ve organizasyonel yap\u0131s\u0131nda \u00f6nemli de\u011fi\u015fiklikler yap\u0131lm\u0131\u015ft\u0131r.<\/p>\n<ul>\n<li><b>Beko Genel M\u00fcd\u00fcrl\u00fc\u011f\u00fc:<\/b> Cemal Can Din\u00e7er, Mart 2026 itibar\u0131yla Beko Genel M\u00fcd\u00fcr\u00fc olarak atanm\u0131\u015ft\u0131r.<\/li>\n<li><b>Yeni Y\u00f6netim Yap\u0131s\u0131:<\/b> \u015eirket; T\u00fcrkiye, Orta Do\u011fu ve Kuzey Afrika (Cem Kural), Avrupa (Ak\u0131n Garzanl\u0131) ve Asya (Zafer \u00dcst\u00fcner) olmak \u00fczere ticari faaliyetlerini b\u00f6lgesel genel m\u00fcd\u00fcr yard\u0131mc\u0131l\u0131klar\u0131 seviyesinde yap\u0131land\u0131rm\u0131\u015ft\u0131r.<\/li>\n<li><b>K\u00e2r Da\u011f\u0131t\u0131m Politikas\u0131:<\/b> \u015eirketin likidite pozisyonunu g\u00fc\u00e7lendirmek amac\u0131yla, 2024 y\u0131l\u0131 faaliyetlerinden k\u00e2r pay\u0131 da\u011f\u0131t\u0131lmamas\u0131 kararla\u015ft\u0131r\u0131lm\u0131\u015ft\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>5. Risk Y\u00f6netimi ve S\u00fcrd\u00fcr\u00fclebilirlik Stratejisi<\/h2>\n<p>Ar\u00e7elik, risk y\u00f6netimini s\u00fcrd\u00fcr\u00fclebilirlik hedefleriyle entegre bir \u015fekilde y\u00fcr\u00fctmektedir.<\/p>\n<h3>S\u00fcrd\u00fcr\u00fclebilirlik Ba\u015far\u0131lar\u0131<\/h3>\n<ul>\n<li><b>Clean 200 Listesi:<\/b> K\u00fcresel \u00f6l\u00e7ekte s\u00fcrd\u00fcr\u00fclebilir ekonomiye \u00f6nc\u00fcl\u00fck eden \u015firketler aras\u0131nda 80. s\u0131rada yer alm\u0131\u015ft\u0131r.<\/li>\n<li><b>Europe 50:<\/b> Avrupa&#8217;n\u0131n en s\u00fcrd\u00fcr\u00fclebilir 50 b\u00fcy\u00fck \u00f6l\u00e7ekli \u015firketi s\u0131ralamas\u0131nda 23. s\u0131radad\u0131r.<\/li>\n<li><b>Top Employer:<\/b> Beko Europe, \u00fcst \u00fcste 9. kez &#8220;Top Employer Europe&#8221; sertifikas\u0131n\u0131 alarak \u00e7al\u0131\u015fan deneyimindeki ba\u015far\u0131s\u0131n\u0131 tescillemi\u015ftir.<\/li>\n<\/ul>\n<h3>Teknolojik Yetkinlik ve E\u011fitim<\/h3>\n<p>\u015eirket, &#8220;AI\/ML Geli\u015fim Program\u0131&#8221; ile \u00e7al\u0131\u015fanlar\u0131n\u0131n yapay zek\u00e2 okuryazarl\u0131\u011f\u0131n\u0131 art\u0131rmay\u0131 hedeflemektedir. AI 101 mod\u00fcl\u00fcne 398 ki\u015fi ile ba\u015flanm\u0131\u015f, program\u0131n kapsam\u0131 700&#8217;\u00fcn \u00fczerinde yeni kat\u0131l\u0131mc\u0131 ile geni\u015fletilmektedir. Ayr\u0131ca, &#8220;AI Infusion&#8221; program\u0131 ile i\u015f s\u00fcre\u00e7lerine de\u011fer katan yapay zek\u00e2 \u00e7\u00f6z\u00fcmlerinin geli\u015ftirilmesi ama\u00e7lanmaktad\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. \u00d6nemli Finansal Ara\u00e7lar ve Stratejik Yat\u0131r\u0131mlar<\/h2>\n<ul>\n<li><b>Tahvil \u0130hra\u00e7lar\u0131:<\/b> \u015eirket, TLREF referansl\u0131 ve sabit faizli TL tahvillerin yan\u0131 s\u0131ra, Euronext Dublin&#8217;e kote 500 milyon ABD Dolar\u0131 tutar\u0131nda tahvil ve 350 milyon Avro tutar\u0131nda ye\u015fil tahvil ihra\u00e7 etmi\u015ftir. Ye\u015fil tahvil fonlar\u0131, Ye\u015fil Finansman \u00c7er\u00e7evesi kapsam\u0131ndaki projelerde kullan\u0131lmaktad\u0131r.<\/li>\n<li><b>AR-GE:<\/b> 2026&#8217;n\u0131n ilk \u00e7eyre\u011finde AR-GE faaliyetlerine 2,3 milyar TL kaynak ayr\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>Stratejik Sat\u0131\u015f (Bilan\u00e7o Sonras\u0131):<\/b> Ar\u00e7elik Hitachi Home Appliances B.V.&#8217;nin %60 pay\u0131n\u0131n Hitachi Global Life Solutions&#8217;a sat\u0131\u015f\u0131 i\u00e7in s\u00f6zle\u015fme imzalanm\u0131\u015ft\u0131r. Bu i\u015flemle 205 milyon USD pe\u015fin, 56 milyon USD taksitli olmak \u00fczere toplam 261 milyon USD (ek \u00f6demeler hari\u00e7) bedel elde edilmesi ve \u00c7in ile Tayland&#8217;daki tesislerin devredilmesi planlanmaktad\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>Sonu\u00e7<\/h2>\n<p>Ar\u00e7elik A.\u015e., 2026&#8217;n\u0131n ilk \u00e7eyre\u011finde pazar daralmalar\u0131n\u0131 operasyonel verimlilik art\u0131\u015f\u0131 ve stratejik portf\u00f6y y\u00f6netimi ile dengelemeye odaklanm\u0131\u015ft\u0131r. \u015eirket, yapay zek\u00e2 ve s\u00fcrd\u00fcr\u00fclebilirlik yat\u0131r\u0131mlar\u0131yla gelece\u011fe haz\u0131rlan\u0131rken, Hitachi operasyonlar\u0131ndaki pay sat\u0131\u015f\u0131 gibi hamlelerle kaynaklar\u0131n\u0131 daha verimli alanlara y\u00f6nlendirme stratejisini izlemektedir. Finansal bor\u00e7luluk ve pazar daralmas\u0131 gibi riskler, g\u00fc\u00e7l\u00fc marka portf\u00f6y\u00fc ve k\u00fcresel \u00fcretim a\u011f\u0131 ile y\u00f6netilmektedir.<\/p>\n<p>&nbsp;<\/p>\n<h3 class=\"paragraph is-rich-chat-ui heading2 ng-star-inserted\" role=\"heading\" data-start-index=\"6154\" aria-level=\"2\"><span class=\"ng-star-inserted\" data-start-index=\"6154\">Kapsaml\u0131 S\u00f6zl\u00fck<\/span><\/h3>\n<table class=\"is-rich-chat-ui\" data-start-index=\"6178\">\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=\"6178\"><span class=\"ng-star-inserted\" data-start-index=\"6178\">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=\"6183\"><span class=\"ng-star-inserted\" data-start-index=\"6183\">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=\"6188\"><b class=\"ng-star-inserted\" data-start-index=\"6188\">Konsolide Ciro<\/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=\"6202\"><span class=\"ng-star-inserted\" data-start-index=\"6202\">\u015eirketin t\u00fcm ana ve ba\u011fl\u0131 ortakl\u0131klar\u0131n\u0131n hesaplar\u0131n\u0131n birle\u015ftirilmesiyle elde edilen toplam net sat\u0131\u015f tutar\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=\"6312\"><b class=\"ng-star-inserted\" data-start-index=\"6312\">Pay Geri Al\u0131m\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=\"6326\"><span class=\"ng-star-inserted\" data-start-index=\"6326\">Bir \u015firketin borsada i\u015flem g\u00f6ren kendi hisselerini piyasadan sat\u0131n alarak sermaye yap\u0131s\u0131n\u0131 d\u00fczenlemesi veya fiyat istikrar\u0131 sa\u011flamas\u0131 i\u015flemi.<\/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=\"6467\"><b class=\"ng-star-inserted\" data-start-index=\"6467\">FVA\u00d6K (EBITDA) Marj\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=\"6487\"><span class=\"ng-star-inserted\" data-start-index=\"6487\">Faiz, Vergi, Amortisman \u00d6ncesi K\u00e2r\u0131n net sat\u0131\u015flara oran\u0131; \u015firketin operasyonel k\u00e2rl\u0131l\u0131\u011f\u0131n\u0131 g\u00f6steren temel rasyo.<\/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=\"6599\"><b class=\"ng-star-inserted\" data-start-index=\"6599\">Ye\u015fil Tahvil<\/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=\"6611\"><span class=\"ng-star-inserted\" data-start-index=\"6611\">Sa\u011flanan fonlar\u0131n \u00e7evre dostu ve s\u00fcrd\u00fcr\u00fclebilir projelerin finansman\u0131nda kullan\u0131lmas\u0131 taahh\u00fcd\u00fcyle ihra\u00e7 edilen bor\u00e7lanma arac\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=\"6738\"><b class=\"ng-star-inserted\" data-start-index=\"6738\">Cari Oran<\/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=\"6747\"><span class=\"ng-star-inserted\" data-start-index=\"6747\">\u015eirketin d\u00f6nen varl\u0131klar\u0131n\u0131n k\u0131sa vadeli bor\u00e7lar\u0131n\u0131 kar\u015f\u0131lama kapasitesini \u00f6l\u00e7en likidite oran\u0131 (Ar\u00e7elik i\u00e7in 31 Mart 2026 itibar\u0131yla 0,94).<\/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=\"6887\"><b class=\"ng-star-inserted\" data-start-index=\"6887\">TSRS \/ TSRS<\/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=\"6898\"><span class=\"ng-star-inserted\" data-start-index=\"6898\">T\u00fcrkiye S\u00fcrd\u00fcr\u00fclebilirlik Raporlama Standartlar\u0131; \u015firketlerin \u00e7evresel ve sosyal etkilerini raporlamada uymak zorunda olduklar\u0131 ulusal \u00e7er\u00e7eve.<\/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=\"7041\"><b class=\"ng-star-inserted\" data-start-index=\"7041\">TCFD<\/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=\"7045\"><span class=\"ng-star-inserted\" data-start-index=\"7045\">\u0130klimle Ba\u011flant\u0131l\u0131 Finansal Beyan G\u00f6rev G\u00fcc\u00fc; iklim risklerinin finansal raporlamaya entegrasyonu i\u00e7in geli\u015ftirilen k\u00fcresel rehber.<\/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=\"7176\"><b class=\"ng-star-inserted\" data-start-index=\"7176\">MESS<\/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=\"7180\"><span class=\"ng-star-inserted\" data-start-index=\"7180\">T\u00fcrkiye Metal Sanayicileri Sendikas\u0131; Ar\u00e7elik&#8217;in i\u015fveren taraf\u0131nda \u00fcyesi oldu\u011fu sendikal kurulu\u015f.<\/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=\"7277\"><b class=\"ng-star-inserted\" data-start-index=\"7277\">Net S\u0131f\u0131r 2050<\/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=\"7291\"><span class=\"ng-star-inserted\" data-start-index=\"7291\">\u0130nsan faaliyetleri sonucu olu\u015fan sera gaz\u0131 emisyonlar\u0131n\u0131n, karbon yutaklar\u0131 taraf\u0131ndan dengelenerek net olarak s\u0131f\u0131rlanmas\u0131 stratejik hedefi.<\/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=\"7432\"><b class=\"ng-star-inserted\" data-start-index=\"7432\">Likidite Pozisyonu<\/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=\"7450\"><span class=\"ng-star-inserted\" data-start-index=\"7450\">Bir \u015firketin nakit ve nakde h\u0131zl\u0131 \u00e7evrilebilir varl\u0131klar\u0131n\u0131n, k\u0131sa vadeli y\u00fck\u00fcml\u00fcl\u00fcklerini yerine getirme konusundaki yeterlilik durumu.<\/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=\"7586\"><b class=\"ng-star-inserted\" data-start-index=\"7586\">AOF (A\u011f\u0131rl\u0131kl\u0131 Ortalama Fiyat)<\/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=\"7616\"><span class=\"ng-star-inserted\" data-start-index=\"7616\">Borsa i\u015flemlerinde belirli bir zaman dilimi i\u00e7indeki toplam i\u015flem hacminin i\u015flem adedine b\u00f6l\u00fcnmesiyle hesaplanan ortalama fiyat.<\/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=\"7744\"><b class=\"ng-star-inserted\" data-start-index=\"7744\">D\u00d6F\u0130<\/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=\"7748\"><span class=\"ng-star-inserted\" data-start-index=\"7748\">D\u00fczeltici \u00d6nleyici Faaliyet \u0130ste\u011fi; tedarik\u00e7i denetimleri sonucunda tespit edilen uygunsuzluklar\u0131n giderilmesi i\u00e7in ba\u015flat\u0131lan s\u00fcre\u00e7.<\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<button class=\"simplefavorite-button\" data-postid=\"2174\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>Ar\u00e7elik 2026&#8217;ya Stratejik D\u00f6n\u00fc\u015f\u00fcm ve G\u00fc\u00e7l\u00fc K\u00fcresel Varl\u0131kla Ba\u015flad\u0131<br \/>\nAr\u00e7elik, 2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011finde k\u00fcresel ekonomik dalgalanmalara ve T\u00fcrkiye pazar\u0131ndaki daralmaya ra\u011fmen pazar liderli\u011fini ve stratejik odaklar\u0131n\u0131 korudu. 130 milyar TL ciroya ula\u015f\u0131lan bu d\u00f6nemde, \u00f6zellikle Hitachi paylar\u0131n\u0131n sat\u0131\u015f\u0131 ve y\u00f6netim kademesindeki yeni atamalar dikkat \u00e7ekiyor. \u015eirketin s\u00fcrd\u00fcr\u00fclebilirlik listelerindeki ba\u015far\u0131s\u0131 ve yapay zeka odakl\u0131 Ar-Ge yat\u0131r\u0131mlar\u0131, teknoloji devi olma yolundaki vizyonunu peki\u015ftiriyor. Finansal rasyolardan s\u00fcrd\u00fcr\u00fclebilirlik hedeflerine kadar Ar\u00e7elik\u2019in 2026 yol haritas\u0131n\u0131n t\u00fcm detaylar\u0131n\u0131 inceledik.<\/p>\n","protected":false},"author":2,"featured_media":1297,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[251],"tags":[198],"class_list":["post-2174","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-faaliyetraporuanalizi","tag-arclk"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2174","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/comments?post=2174"}],"version-history":[{"count":3,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2174\/revisions"}],"predecessor-version":[{"id":2177,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2174\/revisions\/2177"}],"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=2174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=2174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=2174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}