{"id":2219,"date":"2026-04-29T00:38:03","date_gmt":"2026-04-28T21:38:03","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=2219"},"modified":"2026-04-29T00:38:43","modified_gmt":"2026-04-28T21:38:43","slug":"arfye-2026-03-faaliyet-raporu-analizi-arf-bio-yenilenebilir-enerji","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/2219","title":{"rendered":"\ud83d\udd35 ARFYE 2026-03 Faaliyet Raporu Analizi | ARF Bio Yenilenebilir Enerji"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"\ud83d\udd35 ARFYE 2026-03 Faaliyet Raporu Analizi | ARF Bio Yenilenebilir Enerji\" width=\"858\" height=\"644\" src=\"https:\/\/www.youtube.com\/embed\/nFC0-0PQ4Tk?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<h1>ARF B\u0130O Yenilenebilir Enerji \u00dcretim A.\u015e. 2026 Y\u0131l\u0131 1. \u00c7eyrek Faaliyet ve Stratejik Analiz Belgesi<\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>ARF B\u0130O Yenilenebilir Enerji \u00dcretim A.\u015e. (ARFYE), 01.01.2026 \u2013 31.03.2026 ara d\u00f6neminde operasyonel ve finansal a\u00e7\u0131dan radikal bir b\u00fcy\u00fcme sergilemi\u015ftir. \u015eirket, \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6neminde (2025 1. \u00c7eyrek) ya\u015fad\u0131\u011f\u0131 67.035.968 TL&#8217;lik net d\u00f6nem zarar\u0131n\u0131, 2026&#8217;n\u0131n ilk \u00fc\u00e7 ay\u0131nda 8.309.193 TL net kara d\u00f6n\u00fc\u015ft\u00fcrerek g\u00fc\u00e7l\u00fc bir finansal toparlanma kaydetmi\u015ftir. Bu ba\u015far\u0131n\u0131n temel itici g\u00fcc\u00fc, g\u00fcbre sat\u0131\u015f gelirlerinde ya\u015fanan devasa art\u0131\u015ft\u0131r; g\u00fcbre gelirleri bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re 2,5 milyon TL seviyesinden 203 milyon TL&#8217;nin \u00fczerine \u00e7\u0131km\u0131\u015ft\u0131r. \u015eirket; biyogazdan elektrik \u00fcretimi, organik ve organomineral g\u00fcbre \u00fcretimi ile karbon ticareti ekseninde kurgulad\u0131\u011f\u0131 &#8220;at\u0131ktan enerjiye, enerjiden tar\u0131ma&#8221; d\u00f6ng\u00fcsel ekonomi modelini mikro alg yat\u0131r\u0131m\u0131, cam serada domates \u00fcretimi ve hibrit GES projeleri ile geni\u015fletmeyi hedeflemektedir.<\/p>\n<h2>1. Kurumsal Bilgiler ve Y\u00f6netim Yap\u0131s\u0131<\/h2>\n<h3>1.1. \u015eirket Profili<\/h3>\n<ul>\n<li><b>Ticari \u00dcnvan:<\/b> ARF B\u0130O Yenilenebilir Enerji \u00dcretim A.\u015e.<\/li>\n<li><b>Borsa \u0130\u015flem Kodu:<\/b> ARFYE<\/li>\n<li><b>\u00d6denmi\u015f Sermaye:<\/b> 182.837.401 TL<\/li>\n<li><b>Merkez Adresi:<\/b> Yenimahalle \/ Ankara<\/li>\n<li><b>Personel Say\u0131s\u0131:<\/b> 31.03.2026 itibar\u0131yla ortalama 47 ki\u015fi.<\/li>\n<\/ul>\n<h3>1.2. Y\u00f6netim Kurulu<\/h3>\n<p>24.07.2023 tarihinde g\u00f6reve ba\u015flayan ve 24.07.2026 tarihine kadar g\u00f6rev s\u00fcresi bulunan y\u00f6netim kurulu \u00fcyeleri \u015funlard\u0131r:<\/p>\n<ul>\n<li><b>Mustafa ACAR:<\/b> Y\u00f6netim Kurulu Ba\u015fkan\u0131 (Kurucu ortak, in\u015faat ve enerji sekt\u00f6r\u00fc deneyimi).<\/li>\n<li><b>Melih ARSLAN:<\/b> Y\u00f6netim Kurulu Ba\u015fkan Vekili (Elektrik m\u00fchendisi, gayrimenkul ve yat\u0131r\u0131m fonu y\u00f6netimi uzman\u0131).<\/li>\n<li><b>I\u015f\u0131l G\u00dcLTEK\u0130N AVCI:<\/b> Y\u00f6netim Kurulu \u00dcyesi (\u00c7evre teknolojileri doktoras\u0131, s\u00fcrd\u00fcr\u00fclebilirlik uzman\u0131).<\/li>\n<li><b>Caner B\u0130NG\u00d6L:<\/b> Y\u00f6netim Kurulu \u00dcyesi (Mimar, \u015fehir ve b\u00f6lge planlama uzman\u0131).<\/li>\n<li><b>Mehmet Emre \u00c7AMLIBEL:<\/b> Y\u00f6netim Kurulu \u00dcyesi (\u0130n\u015faat m\u00fchendisi doktoras\u0131, enerji verimlili\u011fi uzman\u0131).<\/li>\n<\/ul>\n<h3>1.3. Ortakl\u0131k Yap\u0131s\u0131 (31.03.2026)<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Orta\u011f\u0131n Ticari Unvan\u0131<\/td>\n<td>Toplam Sermaye Pay\u0131 (TL)<\/td>\n<td>Sermaye Pay\u0131 (%)<\/td>\n<td>Oy Hakk\u0131 (%)<\/td>\n<\/tr>\n<tr>\n<td>RE-PIE Portf\u00f6y Y\u00f6netimi A.\u015e. ARF Giri\u015fim Sermayesi Yat\u0131r\u0131m Fonu<\/td>\n<td>128.500.000<\/td>\n<td>%70,28<\/td>\n<td>%83,54<\/td>\n<\/tr>\n<tr>\n<td>Pardus Giri\u015fim Sermayesi Yat\u0131r\u0131m Ortakl\u0131\u011f\u0131 A.\u015e.<\/td>\n<td>7.337.401<\/td>\n<td>%4,01<\/td>\n<td>%2,22<\/td>\n<\/tr>\n<tr>\n<td>Halka A\u00e7\u0131k Paylar<\/td>\n<td>47.000.000<\/td>\n<td>%25,71<\/td>\n<td>%14,23<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam<\/b><\/td>\n<td><b>182.837.401<\/b><\/td>\n<td><b>%100,00<\/b><\/td>\n<td><b>%100,00<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>2. Operasyonel Faaliyet Alanlar\u0131<\/h2>\n<h3>2.1. Biyogazdan Elektrik \u00dcretimi ve Sat\u0131\u015f\u0131<\/h3>\n<p>\u015eirketin \u0130zmir, \u00d6demi\u015f il\u00e7esinde bulunan biyometanizasyon tipi biyogaz santrali, bitkisel ve hayvansal at\u0131klardan elektrik \u00fcretmektedir.<\/p>\n<ul>\n<li><b>Tesis Kapasitesi:<\/b> 4,8 MWe lisans ve kurulu g\u00fc\u00e7.<\/li>\n<li><b>YEKDEM Deste\u011fi:<\/b> Tesis, 31.12.2028 tarihine kadar 13,3 ABD Dolar\u0131 Cent\/kWh fiyatla YEKDEM kapsam\u0131nda sat\u0131\u015f yapma hakk\u0131na sahiptir.<\/li>\n<li><b>D\u00f6nem Performans\u0131:<\/b> 01.01.2026 &#8211; 31.03.2026 d\u00f6neminde 1.539.840 kWh elektrik \u00fcretilmi\u015f ve 6.452.326 TL net sat\u0131\u015f geliri elde edilmi\u015ftir.<\/li>\n<\/ul>\n<h3>2.2. G\u00fcbre \u00dcretimi ve Sat\u0131\u015f\u0131 (Organik ve Organomineral)<\/h3>\n<p>\u015eirketin ana gelir kalemini olu\u015fturan g\u00fcbre segmenti, biyogaz \u00fcretim s\u00fcrecinin \u00e7\u0131kt\u0131s\u0131 olan fermente \u00fcr\u00fcnlerin i\u015flenmesiyle ger\u00e7ekle\u015fmektedir.<\/p>\n<ul>\n<li><b>\u00dcr\u00fcn \u00c7e\u015fitlili\u011fi:<\/b> Kat\u0131 ve s\u0131v\u0131 formda organomineral g\u00fcbreler (ARF B\u0130O 8-21-0, 11-11-11+10SO3 vb.) ve organik g\u00fcbreler (ARF B\u0130O PLUS, FERB\u0130OS).<\/li>\n<li><b>Gelir Patlamas\u0131:<\/b> 2025&#8217;in ilk \u00e7eyre\u011finde 2.514.590 TL olan g\u00fcbre sat\u0131\u015f geliri, 2026&#8217;n\u0131n ayn\u0131 d\u00f6neminde %8000&#8217;e yak\u0131n bir art\u0131\u015fla <b>203.036.153 TL<\/b>&#8216;ye ula\u015fm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<h3>2.3. Karbon Ticareti<\/h3>\n<p>ARF B\u0130O, karbon emisyon azalt\u0131m\u0131 do\u011frultusunda karbon kredisi \u00fcretme ve ticareti yapma hakk\u0131na sahiptir. 1 Karbon Kredisi, 1 metrik ton karbondioksit (tCO2e) emisyon azal\u0131m\u0131 anlam\u0131na gelmektedir. Bu faaliyet, \u015firketin gelir \u00e7e\u015fitlili\u011fini ve s\u00fcrd\u00fcr\u00fclebilirli\u011fini destekleyen stratejik bir unsurdur.<\/p>\n<h2>3. Finansal Durum Analizi<\/h2>\n<p>\u015eirketin bilan\u00e7o ve k\u00e2r\/zarar tablosu verileri, varl\u0131k yap\u0131s\u0131n\u0131n g\u00fc\u00e7lendi\u011fini ve k\u00e2rl\u0131l\u0131\u011f\u0131n s\u00fcrd\u00fcr\u00fclebilir bir ivmeye girdi\u011fini g\u00f6stermektedir.<\/p>\n<h3>3.1. Temel Finansal G\u00f6stergeler (Bin TL)<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem<\/td>\n<td>31.03.2026<\/td>\n<td>31.12.2025<\/td>\n<td>De\u011fi\u015fim (%)<\/td>\n<\/tr>\n<tr>\n<td>D\u00f6nen Varl\u0131klar<\/td>\n<td>1.311.772<\/td>\n<td>770.939<\/td>\n<td>+%70<\/td>\n<\/tr>\n<tr>\n<td>Duran Varl\u0131klar<\/td>\n<td>1.367.895<\/td>\n<td>1.320.813<\/td>\n<td>+%3,5<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Varl\u0131klar<\/b><\/td>\n<td><b>2.679.668<\/b><\/td>\n<td><b>2.091.753<\/b><\/td>\n<td><b>+%28<\/b><\/td>\n<\/tr>\n<tr>\n<td>Toplam \u00d6zkaynaklar<\/td>\n<td>2.062.053<\/td>\n<td>1.337.316<\/td>\n<td>+%54<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>3.2. K\u00e2r\/Zarar \u00d6zeti (01.01 &#8211; 31.03 D\u00f6nemi)<\/h3>\n<ul>\n<li><b>Has\u0131lat:<\/b> 211.080.076 TL (2025 ayn\u0131 d\u00f6nem: 14.706.224 TL)<\/li>\n<li><b>Br\u00fct K\u00e2r:<\/b> 45.608.885 TL (2025 ayn\u0131 d\u00f6nem: 6.732.946 TL Zarar)<\/li>\n<li><b>Esas Faaliyet K\u00e2r\u0131:<\/b> 7.568.091 TL (2025 ayn\u0131 d\u00f6nem: 24.558.916 TL Zarar)<\/li>\n<li><b>Net D\u00f6nem K\u00e2r\u0131:<\/b> 8.309.193 TL (2025 ayn\u0131 d\u00f6nem: 67.035.968 TL Zarar)<\/li>\n<\/ul>\n<h2>4. Stratejik Yat\u0131r\u0131mlar ve Gelecek Hedefleri<\/h2>\n<p>\u015eirket, mevcut biyogaz tesisini merkez alan ve dikey entegrasyon sa\u011flayan \u00fc\u00e7 ana yat\u0131r\u0131m projesi planlamaktad\u0131r:<\/p>\n<ul>\n<li><b>Mikro Alg Yat\u0131r\u0131m\u0131:<\/b> Biyogaz santralinden \u00e7\u0131kan karbondioksit ve at\u0131k \u0131s\u0131n\u0131n kullan\u0131larak mikro alg \u00fcretilmesi planlanmaktad\u0131r. Bu \u00fcr\u00fcnler g\u0131da, kozmetik ve ila\u00e7 end\u00fcstrilerinde y\u00fcksek katma de\u011ferli girdi olarak kullan\u0131lacakt\u0131r.<\/li>\n<li><b>Cam Serada Domates \u00dcretimi:<\/b> Elektrik \u00fcretimi s\u0131ras\u0131nda ortaya \u00e7\u0131kan at\u0131k \u0131s\u0131 ile \u0131s\u0131t\u0131lacak yakla\u015f\u0131k 50.400 m\u00b2 kapal\u0131 alana sahip teknolojik bir sera yat\u0131r\u0131m\u0131 hedeflenmektedir. Bu yat\u0131r\u0131m\u0131n toplam 6.000.000 Euro tutar\u0131nda olmas\u0131 \u00f6ng\u00f6r\u00fclmektedir.<\/li>\n<li><b>Hibrit GES Yat\u0131r\u0131m\u0131:<\/b> Biyogaz santraline yard\u0131mc\u0131 kaynak olarak 0,7 MW g\u00fcc\u00fcnde G\u00fcne\u015f Enerji Santrali (GES) izni al\u0131nm\u0131\u015ft\u0131r. \u015eirket bu kapasiteyi 4,8 MWp seviyesine \u00e7\u0131karmay\u0131 hedeflemektedir.<\/li>\n<\/ul>\n<h2>5. S\u00fcrd\u00fcr\u00fclebilirlik ve AR-GE \u00c7al\u0131\u015fmalar\u0131<\/h2>\n<p>ARF B\u0130O, faaliyetlerini Birle\u015fmi\u015f Milletler K\u00fcresel Ama\u00e7lar\u0131 ile uyumlu hale getirmi\u015f olup \u00f6zellikle \u015fu 6 kriteri \u00f6nceliklendirmektedir:<\/p>\n<ol>\n<li>Cinsiyet E\u015fitli\u011fi<\/li>\n<li>Eri\u015filebilir ve Temiz Enerji<\/li>\n<li>\u0130nsana Yak\u0131\u015f\u0131r \u0130\u015f ve Ekonomik B\u00fcy\u00fcme<\/li>\n<li>Sanayi, Yenilik\u00e7ilik ve Altyap\u0131<\/li>\n<li>Sorumlu \u00dcretim ve T\u00fcketim<\/li>\n<li>\u0130klim Eylemi<\/li>\n<\/ol>\n<p><b>AR-GE Faaliyetleri:<\/b><\/p>\n<ul>\n<li>Spesifik tar\u0131m \u00fcr\u00fcnlerine y\u00f6nelik (domates, \u00e7ilek, brokoli vb.) \u00f6zelle\u015ftirilmi\u015f organomineral g\u00fcbre form\u00fclasyonlar\u0131 geli\u015ftirilmektedir.<\/li>\n<li>Mikroalg t\u00fcrlerinin biyokimyasal i\u00e7erikleri \u00fczerine ara\u015ft\u0131rmalar yap\u0131larak farmas\u00f6tik ve kozmetik sekt\u00f6r\u00fcne y\u00f6nelik y\u00fcksek katma de\u011ferli \u00fcr\u00fcn geli\u015ftirme s\u00fcreci devam etmektedir.<\/li>\n<\/ul>\n<h2>6. Sekt\u00f6rel De\u011ferlendirme ve Risk Y\u00f6netimi<\/h2>\n<ul>\n<li><b>K\u00fcresel Biyogaz Pazar\u0131:<\/b> 2030 y\u0131l\u0131na kadar 119,11 milyar USD seviyesine ula\u015fmas\u0131 beklenen pazar, istikrarl\u0131 bir b\u00fcy\u00fcme trendindedir.<\/li>\n<li><b>G\u00fcbre Piyasas\u0131:<\/b> Artan n\u00fcfus ve g\u0131da ihtiyac\u0131 nedeniyle g\u00fcbre stratejik bir girdi olmaya devam etmektedir. 7 Mart 2026 tarihli Resmi Gazete karar\u0131 ile \u00fcre g\u00fcbresi ithalat\u0131ndaki g\u00fcmr\u00fck vergisinin s\u0131f\u0131rlanmas\u0131, \u00e7ift\u00e7i maliyetlerini d\u00fc\u015f\u00fcrmeyi hedeflerken, ARF B\u0130O&#8217;nun organomineral \u00fcr\u00fcnlerine olan talebin s\u00fcrd\u00fcr\u00fclebilir tar\u0131m te\u015fvikleri ile artmas\u0131 beklenmektedir.<\/li>\n<li><b>Riskler:<\/b> \u015eirket; kredi riski, likidite riski, faiz riski ve kur riskine kar\u015f\u0131 aktif y\u00f6netim politikalar\u0131 uygulamaktad\u0131r. 31.03.2026 itibar\u0131yla \u015firketin \u00f6zkaynaklar\u0131 g\u00fc\u00e7l\u00fcd\u00fcr ve sermaye kayb\u0131 veya borca bat\u0131kl\u0131k durumu bulunmamaktad\u0131r.<\/li>\n<\/ul>\n<button class=\"simplefavorite-button\" data-postid=\"2219\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>ARF B\u0130O Yenilenebilir Enerji, 2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011finde rekor bir finansal performansa imza att\u0131. Has\u0131lat\u0131n\u0131 211 milyon TL&#8217;nin \u00fczerine \u00e7\u0131karan \u015firket, yenilenebilir enerji \u00fcretimini organik ve organomineral g\u00fcbre sekt\u00f6r\u00fcndeki dev b\u00fcy\u00fcmesiyle ta\u00e7land\u0131rd\u0131. &#8220;At\u0131ktan enerjiye, enerjiden tar\u0131ma&#8221; vizyonuyla d\u00f6ng\u00fcsel ekonominin \u00f6nc\u00fcs\u00fc olan ARF B\u0130O&#8217;nun; hibrit GES, mikro alg ve teknolojik serac\u0131l\u0131k gibi yeni d\u00f6nem yat\u0131r\u0131mlar\u0131n\u0131n detaylar\u0131n\u0131 ve stratejik hedeflerini blog yaz\u0131m\u0131zda inceleyebilirsiniz.<\/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":[141],"class_list":["post-2219","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-faaliyetraporuanalizi","tag-arfye"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2219","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=2219"}],"version-history":[{"count":1,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2219\/revisions"}],"predecessor-version":[{"id":2220,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2219\/revisions\/2220"}],"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=2219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=2219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=2219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}