{"id":2221,"date":"2026-04-29T00:41:18","date_gmt":"2026-04-28T21:41:18","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=2221"},"modified":"2026-04-29T00:41:54","modified_gmt":"2026-04-28T21:41:54","slug":"fmizp-2026-03-bilano-analizi-federal-mogul-izmit-piston","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/2221","title":{"rendered":"\ud83d\udd34 FMIZP 2026-03 Bilan\u00e7o Analizi | Federal Mogul \u0130zmit Piston"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"\ud83d\udd34 FMIZP 2026-03 Bilan\u00e7o Analizi | Federal Mogul \u0130zmit Piston\" width=\"858\" height=\"644\" src=\"https:\/\/www.youtube.com\/embed\/mpGMgR5Ou7Q?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>Federal Mogul \u0130zmit Piston ve Pim \u00dcretim Tesisleri A.\u015e. 2026 Birinci \u00c7eyrek Finansal Bilgilendirme Raporu<\/h1>\n<p>Bu rapor, Federal Mogul \u0130zmit Piston ve Pim \u00dcretim Tesisleri A.\u015e.&#8217;nin (&#8220;\u015eirket&#8221;) 1 Ocak \u2013 31 Mart 2026 hesap d\u00f6nemine ait finansal tablolar\u0131n\u0131, operasyonel performans\u0131n\u0131 ve stratejik geli\u015fmelerini sentezleyen kapsaml\u0131 bir \u00f6zet sunmaktad\u0131r.<\/p>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Federal Mogul \u0130zmit Piston ve Pim \u00dcretim Tesisleri A.\u015e., 2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011finde finansal performans\u0131n\u0131 bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re belirgin \u015fekilde art\u0131rm\u0131\u015ft\u0131r. \u015eirket\u2019in net sat\u0131\u015flar\u0131 176,9 milyon TL\u2019ye ula\u015f\u0131rken, net d\u00f6nem kar\u0131 43,4 milyon TL olarak ger\u00e7ekle\u015fmi\u015ftir. Fonksiyonel para birimi olarak Euro\u2019yu kullanan \u015firket, d\u00f6viz kuru de\u011fi\u015fimlerinden ve ili\u015fkili taraf i\u015flemlerinden \u00f6nemli \u00f6l\u00e7\u00fcde etkilenmektedir. D\u00f6nem sonu itibar\u0131yla toplam varl\u0131klar 753,2 milyon TL, \u00f6zkaynaklar ise 646,7 milyon TL seviyesindedir. Raporlama d\u00f6neminden sonra a\u00e7\u0131klanan en kritik geli\u015fme, \u015eirket\u2019in \u0130zmit\u2019teki \u00fcretim tesislerinin bo\u015falt\u0131lmas\u0131na ve faaliyetlerin farkl\u0131 lokasyonlara kayd\u0131r\u0131lmas\u0131na y\u00f6nelik al\u0131nan stratejik karard\u0131r.<\/p>\n<h2>Finansal Performans Analizi<\/h2>\n<p>\u015eirket\u2019in 2026 y\u0131l\u0131 ilk \u00e7eyrek sonu\u00e7lar\u0131, karl\u0131l\u0131k oranlar\u0131nda ve sat\u0131\u015f hacminde ciddi bir b\u00fcy\u00fcmeye i\u015faret etmektedir.<\/p>\n<h3>Gelir ve Karl\u0131l\u0131k Kar\u015f\u0131la\u015ft\u0131rmas\u0131<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Finansal G\u00f6sterge (TL)<\/td>\n<td>1 Ocak &#8211; 31 Mart 2026<\/td>\n<td>1 Ocak &#8211; 31 Mart 2025<\/td>\n<td>De\u011fi\u015fim (%)<\/td>\n<\/tr>\n<tr>\n<td><b>Has\u0131lat (Net Sat\u0131\u015flar)<\/b><\/td>\n<td>176.985.990<\/td>\n<td>126.999.670<\/td>\n<td>%+39,3<\/td>\n<\/tr>\n<tr>\n<td><b>Sat\u0131\u015flar\u0131n Maliyeti<\/b><\/td>\n<td>(132.610.455)<\/td>\n<td>(109.624.918)<\/td>\n<td>%+21,0<\/td>\n<\/tr>\n<tr>\n<td><b>Br\u00fct Kar<\/b><\/td>\n<td>44.375.535<\/td>\n<td>17.374.752<\/td>\n<td>%+155,4<\/td>\n<\/tr>\n<tr>\n<td><b>Esas Faaliyet Kar\u0131<\/b><\/td>\n<td>33.506.866<\/td>\n<td>10.808.675<\/td>\n<td>%+210,0<\/td>\n<\/tr>\n<tr>\n<td><b>Net D\u00f6nem Kar\u0131<\/b><\/td>\n<td>43.394.990<\/td>\n<td>15.557.472<\/td>\n<td>%+178,9<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li><b>Has\u0131lat Da\u011f\u0131l\u0131m\u0131:<\/b> Toplam sat\u0131\u015flar\u0131n 104,5 milyon TL&#8217;si yurt d\u0131\u015f\u0131 sat\u0131\u015flardan (ihra\u00e7 kay\u0131tl\u0131), 72,5 milyon TL&#8217;si ise yurt i\u00e7i sat\u0131\u015flardan elde edilmi\u015ftir.<\/li>\n<li><b>Maliyet Y\u00f6netimi:<\/b> Sat\u0131\u015flar\u0131n maliyetindeki art\u0131\u015f, has\u0131lat art\u0131\u015f\u0131n\u0131n gerisinde kalm\u0131\u015f; bu durum br\u00fct kar marj\u0131n\u0131n \u00f6nemli \u00f6l\u00e7\u00fcde iyile\u015fmesini sa\u011flam\u0131\u015ft\u0131r.<\/li>\n<li><b>Pay Ba\u015f\u0131na Kazan\u00e7:<\/b> 2025&#8217;in ilk \u00e7eyre\u011finde 0,011 TL olan pay ba\u015f\u0131na kazan\u00e7, 2026&#8217;da 0,030 TL&#8217;ye y\u00fckselmi\u015ftir.<\/li>\n<\/ul>\n<h2>\u015eirket Yap\u0131s\u0131 ve Operasyonel Faaliyetler<\/h2>\n<ul>\n<li><b>Faaliyet Konusu:<\/b> \u015eirket temel olarak piston, pim, g\u00f6mlek ve segman gibi otomotiv yedek par\u00e7alar\u0131n\u0131n imalat\u0131 ve ticareti ile i\u015ftigal etmektedir.<\/li>\n<li><b>Ortakl\u0131k Yap\u0131s\u0131:<\/b> \u015eirket\u2019in ana orta\u011f\u0131 %77,74 pay oran\u0131yla Federal-Mogul Powertrain Otomotiv A.\u015e.&#8217;dir. Hisselerin %22,26&#8217;s\u0131 halka arz edilmi\u015f olup Borsa \u0130stanbul&#8217;da i\u015flem g\u00f6rmektedir.<\/li>\n<li><b>Personel Durumu:<\/b> 31 Aral\u0131k 2025&#8217;te 48 olan \u00e7al\u0131\u015fan say\u0131s\u0131, 31 Mart 2026 itibar\u0131yla 42&#8217;ye d\u00fc\u015fm\u00fc\u015ft\u00fcr.<\/li>\n<li><b>Para Birimi:<\/b> \u015eirket\u2019in operasyonel maliyetleri ve sat\u0131\u015flar\u0131n\u0131n a\u011f\u0131rl\u0131kl\u0131 olarak Euro bazl\u0131 olmas\u0131 nedeniyle, fonksiyonel para birimi Euro olarak belirlenmi\u015f; ancak finansal tablolar sunum para birimi olan T\u00fcrk Liras\u0131 cinsinden haz\u0131rlanm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<h2>\u0130li\u015fkili Taraf \u0130\u015flemleri<\/h2>\n<p>\u015eirket, faaliyetlerinin b\u00fcy\u00fck bir k\u0131sm\u0131n\u0131 Federal-Mogul grubu b\u00fcnyesindeki ili\u015fkili kurulu\u015flar \u00fczerinden y\u00fcr\u00fctmektedir.<\/p>\n<ul>\n<li><b>Ticari Alacaklar:<\/b> 71,5 milyon TL tutar\u0131ndaki ticari alacaklar\u0131n neredeyse tamam\u0131 Federal-Mogul D\u0131\u015f Ticaret A.\u015e. ve Federal-Mogul Powertrain Otomotiv A.\u015e.&#8217;den kaynaklanmaktad\u0131r.<\/li>\n<li><b>Mal ve Hizmet Sat\u0131\u015flar\u0131:<\/b> D\u00f6nem i\u00e7inde Federal-Mogul grubu \u015firketlerine yap\u0131lan toplam stok ve hurda sat\u0131\u015f\u0131 238,3 milyon TL&#8217;ye ula\u015fm\u0131\u015ft\u0131r.<\/li>\n<li><b>Kira Geliri:<\/b> \u015eirket, \u0130zmit tesislerinin bir k\u0131sm\u0131n\u0131 ana orta\u011f\u0131 Federal-Mogul Powertrain Otomotiv A.\u015e.&#8217;ye kiralamakta olup, bu i\u015flemden ilk \u00e7eyrekte 7,9 milyon TL gelir elde etmi\u015ftir.<\/li>\n<\/ul>\n<h2>Risk Y\u00f6netimi ve Finansal Ara\u00e7lar<\/h2>\n<p>\u015eirket, operasyonel s\u00fcre\u00e7lerinde \u00e7e\u015fitli finansal risklerle kar\u015f\u0131 kar\u015f\u0131yad\u0131r:<\/p>\n<ul>\n<li><b>Kur Riski:<\/b> \u015eirket, Euro ve ABD Dolar\u0131 bazl\u0131 varl\u0131k ve y\u00fck\u00fcml\u00fcl\u00fckleri nedeniyle kur dalgalanmalar\u0131na a\u00e7\u0131kt\u0131r. 31 Mart 2026 itibar\u0131yla net yabanc\u0131 para varl\u0131k pozisyonu 395 milyon TL\u2019dir.<\/li>\n<li><b>Kredi Riski:<\/b> Ticari alacaklar\u0131n b\u00fcy\u00fck \u00e7o\u011funlu\u011fu ili\u015fkili taraflardan oldu\u011fu i\u00e7in kredi riski bu \u00e7er\u00e7evede y\u00f6netilmektedir. Bankalardaki 347,6 milyon TL tutar\u0131ndaki mevduat\u0131n neredeyse tamam\u0131 (345,9 milyon TL) vadeli hesaplarda tutulmaktad\u0131r.<\/li>\n<li><b>Likidite Riski:<\/b> \u015eirket, k\u0131sa vadeli y\u00fck\u00fcml\u00fcl\u00fcklerini kar\u015f\u0131layacak yeterli nakit ve nakit benzeri varl\u0131\u011fa sahiptir. Nakit varl\u0131klar\u0131n \u00f6nemli bir k\u0131sm\u0131 Euro cinsinden mevduatlardan olu\u015fmaktad\u0131r.<\/li>\n<\/ul>\n<h2>Stratejik Geli\u015fmeler ve Gelecek Projeksiyonu<\/h2>\n<p>Finansal tablo tarihinden sonra (17 Nisan 2026) yap\u0131lan \u00f6zel durum a\u00e7\u0131klamas\u0131, \u015eirket\u2019in operasyonel yap\u0131s\u0131nda k\u00f6kl\u00fc bir de\u011fi\u015fikli\u011fe gidilece\u011fini g\u00f6stermektedir:<\/p>\n<ol>\n<li><b>\u00dcretim Kayd\u0131rma:<\/b> Global piyasa ko\u015fullar\u0131 ve i\u00e7ten yanmal\u0131 motorlara y\u00f6nelik talep azalmas\u0131 nedeniyle, ana ortak Federal-Mogul Powertrain\u2019in \u0130zmit fabrikas\u0131ndaki al\u00fcminyum piston \u00fcretim operasyonlar\u0131n\u0131 Arslanbey fabrikas\u0131na ta\u015f\u0131mas\u0131na karar verilmi\u015ftir.<\/li>\n<li><b>Kira S\u00f6zle\u015fmesinin Feshi:<\/b> \u0130zmit fabrikas\u0131ndaki 15.150 metrekarelik alana ili\u015fkin kira s\u00f6zle\u015fmesi 2027 y\u0131l\u0131 i\u00e7inde sonland\u0131r\u0131lacakt\u0131r.<\/li>\n<li><b>Varl\u0131k De\u011ferleme:<\/b> Bo\u015falt\u0131lmas\u0131 planlanan \u0130zmit\u2019teki arsa ve binalar\u0131n, sat\u0131\u015f dahil olmak \u00fczere en iyi \u015fekilde de\u011ferlendirilmesi i\u00e7in \u00e7al\u0131\u015fmalara ba\u015flanm\u0131\u015ft\u0131r. TSKB Gayrimenkul De\u011ferleme raporuna g\u00f6re bu ta\u015f\u0131nmaz\u0131n adil de\u011feri yakla\u015f\u0131k 237,9 milyon TL\u2019dir.<\/li>\n<li><b>Pim \u00dcretimi ve Yeni Lokasyon:<\/b> Pim \u00fcretim tesisinin Sapanca fabrikas\u0131nda kiralanacak yeni bir alana ta\u015f\u0131nmas\u0131na ve bu lokasyonda \u015fube a\u00e7\u0131lmas\u0131na karar verilmi\u015ftir.<\/li>\n<\/ol>\n<h2>\u00d6nemli Notlar ve Muhasebe Politikalar\u0131<\/h2>\n<ul>\n<li><b>Enflasyon Muhasebesi:<\/b> Fonksiyonel para birimi Euro oldu\u011fu i\u00e7in TMS 29 uyar\u0131nca bir enflasyon d\u00fczeltmesi yap\u0131lmam\u0131\u015ft\u0131r.<\/li>\n<li><b>Amortisman ve Yat\u0131r\u0131mlar:<\/b> Maddi duran varl\u0131klar\u0131n net defter de\u011feri 234,3 milyon TL&#8217;dir. D\u00f6nem i\u00e7inde yap\u0131lan amortisman ve itfa giderleri toplam\u0131 6 milyon TL seviyesindedir.<\/li>\n<li><b>K\u0131dem Tazminat\u0131:<\/b> \u00c7al\u0131\u015fanlara sa\u011flanan faydalara ili\u015fkin uzun vadeli kar\u015f\u0131l\u0131klar 24,9 milyon TL olarak kaydedilmi\u015ftir. Bu rakamdaki y\u0131ll\u0131k bazdaki d\u00fc\u015f\u00fc\u015f, y\u00fcksek \u00e7evrim farklar\u0131ndan kaynaklanmaktad\u0131r.<\/li>\n<\/ul>\n<button class=\"simplefavorite-button\" data-postid=\"2221\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>Federal Mogul \u0130zmit Piston (FMIZP), 2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011finde ihracat gelirlerini ikiye katlayarak g\u00fc\u00e7l\u00fc bir k\u00e2r art\u0131\u015f\u0131 sergiledi. Net d\u00f6nem k\u00e2r\u0131n\u0131 43,4 milyon TL&#8217;ye \u00e7\u0131karan \u015firket, ayn\u0131 zamanda operasyonel verimlilik ad\u0131na \u0130zmit fabrikas\u0131ndaki \u00fcretimi kayd\u0131rma ve mevcut gayrimenkul\u00fc de\u011ferlendirme y\u00f6n\u00fcnde stratejik kararlar ald\u0131. Finansal tablolar\u0131n detaylar\u0131 ve \u015firketin gelece\u011fine dair kritik notlar blog yaz\u0131m\u0131zda.<\/p>\n","protected":false},"author":8,"featured_media":1725,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[320],"class_list":["post-2221","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-fmizp"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2221","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=2221"}],"version-history":[{"count":1,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2221\/revisions"}],"predecessor-version":[{"id":2222,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2221\/revisions\/2222"}],"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=2221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=2221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=2221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}