{"id":2330,"date":"2026-05-02T12:59:53","date_gmt":"2026-05-02T09:59:53","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=2330"},"modified":"2026-05-02T13:00:25","modified_gmt":"2026-05-02T10:00:25","slug":"eregl-2026-03-faaliyet-raporu-analizi-ereli-demir-ve-elik","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/2330","title":{"rendered":"\ud83d\udd35 EREGL 2026-03 Faaliyet Raporu Analizi | Ere\u011fli Demir ve \u00c7elik"},"content":{"rendered":"

Bilgilendirme Belgesi: Ere\u011fli Demir ve \u00c7elik Fabrikalar\u0131 T.A.\u015e. 2026 1. \u00c7eyrek Faaliyet Raporu Analizi<\/h1>\n

Y\u00f6netici \u00d6zeti<\/h2>\n

Ere\u011fli Demir ve \u00c7elik Fabrikalar\u0131 T.A.\u015e. (Erdemir), 1 Ocak – 31 Mart 2026 d\u00f6nemini kapsayan operasyonel ve finansal sonu\u00e7lar\u0131n\u0131 a\u00e7\u0131klam\u0131\u015ft\u0131r. \u015eirket, k\u00fcresel ham \u00e7elik \u00fcretimindeki %1,5’lik daralmaya ra\u011fmen, T\u00fcrkiye ham \u00e7elik \u00fcretiminin %23’\u00fcn\u00fc tek ba\u015f\u0131na ger\u00e7ekle\u015ftirerek pazardaki hakim pozisyonunu korumu\u015ftur.<\/p>\n

2026’n\u0131n ilk \u00e7eyre\u011finde has\u0131lat, bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re %11,5 artarak 59,7 milyar TL’ye ula\u015f\u0131rken, FAV\u00d6K (Faiz, Amortisman ve Vergi \u00d6ncesi Kar) %67’lik bir art\u0131\u015fla yakla\u015f\u0131k 6 milyar TL olarak ger\u00e7ekle\u015fmi\u015ftir. \u015eirket, 26 Mart 2026 tarihli Genel Kurul karar\u0131yla toplam 3,85 milyar TL nakit temett\u00fc da\u011f\u0131taca\u011f\u0131n\u0131 duyurmu\u015ftur. Yat\u0131r\u0131m faaliyetleri kapsam\u0131nda 147 milyon ABD Dolar\u0131 tutar\u0131nda harcama yap\u0131lm\u0131\u015f olup, \u00f6zellikle 2. Y\u00fcksek F\u0131r\u0131n yenileme ve liman kapasite art\u0131r\u0131m\u0131 projeleri \u00f6n plana \u00e7\u0131kmaktad\u0131r.<\/p>\n

——————————————————————————–<\/p>\n

1. Kurumsal Yap\u0131 ve Y\u00f6netim<\/h2>\n

Ortakl\u0131k Yap\u0131s\u0131<\/h3>\n

\u015eirketin 7.000.000.000 TL olan \u00f6denmi\u015f sermayesi a\u015fa\u011f\u0131daki \u015fekilde da\u011f\u0131lmaktad\u0131r:<\/p>\n\n\n\n\n\n\n\n
Ortak<\/td>\nPay Tutar\u0131 (bin TL)<\/td>\nPay Oran\u0131 (%)<\/td>\n<\/tr>\n
ATAER Holding A.\u015e.<\/td>\n3.467.965<\/td>\n49,54<\/td>\n<\/tr>\n
Halka A\u00e7\u0131k K\u0131s\u0131m<\/td>\n3.253.911<\/td>\n46,49<\/td>\n<\/tr>\n
Erdemir\u2019in Kendi Hisse Senetleri<\/td>\n278.124<\/td>\n3,97<\/td>\n<\/tr>\n
Toplam<\/b><\/td>\n7.000.000<\/b><\/td>\n100,00<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Y\u00f6netim Kurulu ve \u00dcst Y\u00f6netim<\/h3>\n

26 Mart 2026 tarihli Ola\u011fan Genel Kurul’da Y\u00f6netim Kurulu \u00fcye say\u0131s\u0131 9 olarak belirlenmi\u015ftir.<\/p>\n

    \n
  • Y\u00f6netim Kurulu Ba\u015fkan\u0131:<\/b> OYTA\u015e \u0130\u00e7 ve D\u0131\u015f Ticaret A.\u015e. (Temsilci: Murat Yal\u00e7\u0131nta\u015f)<\/li>\n
  • Ba\u015fkan Vekili ve Ba\u011f\u0131ms\u0131z \u00dcye:<\/b> \u00d6mer Cihad Vardan (28 Nisan 2026 itibar\u0131yla se\u00e7ilmi\u015ftir)<\/li>\n
  • Genel M\u00fcd\u00fcr:<\/b> \u015eaban Yaz\u0131c\u0131 (38 y\u0131ll\u0131k mesleki tecr\u00fcbe)<\/li>\n
  • Personel Say\u0131s\u0131:<\/b> 31 Mart 2026 itibar\u0131yla toplam 12.833 \u00e7al\u0131\u015fan (8.911 saat \u00fccretli, 3.922 ayl\u0131k \u00fccretli).<\/li>\n<\/ul>\n

    ——————————————————————————–<\/p>\n

    2. Finansal Durum ve Karl\u0131l\u0131k Analizi<\/h2>\n

    \u00d6zet Konsolide Finansal Veriler (31 Mart 2026)<\/h3>\n\n\n\n\n\n\n\n
    Finansal G\u00f6sterge (bin TL)<\/td>\n1\u00c7 2026<\/td>\n1\u00c7 2025<\/td>\nDe\u011fi\u015fim (%)<\/td>\n<\/tr>\n
    Has\u0131lat<\/td>\n59.684.847<\/td>\n53.544.627<\/td>\n+11,5<\/td>\n<\/tr>\n
    Br\u00fct Kar<\/td>\n4.805.619<\/td>\n3.801.258<\/td>\n+26,4<\/td>\n<\/tr>\n
    FAV\u00d6K<\/td>\n5.992.487<\/td>\n3.579.438<\/td>\n+67,4<\/td>\n<\/tr>\n
    Ana Ortakl\u0131k Net D\u00f6nem Kar\u0131<\/td>\n383.856<\/td>\n426.389<\/td>\n-10,0<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    Kar Marjlar\u0131 ve Finansal Politikalar<\/h3>\n
      \n
    • Br\u00fct Kar Marj\u0131:<\/b> %8,1 (Ge\u00e7en y\u0131l: %7,1)<\/li>\n
    • FAV\u00d6K Marj\u0131:<\/b> %10,0 (Ge\u00e7en y\u0131l: %6,7)<\/li>\n
    • Net Kar Marj\u0131:<\/b> %0,7<\/li>\n
    • Finansman Stratejisi:<\/b> Grup, y\u00fcksek nakit yaratma kabiliyeti ve g\u00fc\u00e7l\u00fc \u00f6zsermaye yap\u0131s\u0131na dayal\u0131 bir bor\u00e7lanma politikas\u0131 izlemektedir. Piyasa risklerine kar\u015f\u0131 forward, futures, swap ve opsiyon gibi korunma ara\u00e7lar\u0131 kullan\u0131lmaktad\u0131r.<\/li>\n<\/ul>\n

      ——————————————————————————–<\/p>\n

      3. Operasyonel Faaliyetler ve \u00dcretim Performans\u0131<\/h2>\n

      Grup, 2026 y\u0131l\u0131n\u0131n ilk iki ay\u0131nda T\u00fcrkiye ham \u00e7elik \u00fcretiminin %23’\u00fcn\u00fc ger\u00e7ekle\u015ftirmi\u015ftir. Kapasite kullan\u0131m oranlar\u0131, ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re belirgin bir art\u0131\u015f g\u00f6stermi\u015ftir.<\/p>\n

      Kapasite Kullan\u0131m ve \u00dcretim Miktarlar\u0131<\/h3>\n
        \n
      • S\u0131v\u0131 \u00c7elik Kapasite Kullan\u0131m\u0131:<\/b> %98 (1\u00c7 2025: %80)<\/li>\n
      • Ham \u00c7elik \u00dcretimi:<\/b> Toplam 2,3 milyon ton (Ere\u011fli: 0,9 m ton, \u0130skenderun: 1,4 m ton).<\/li>\n
      • Nihai Mamul \u00dcretimi:<\/b>\n
          \n
        • Yass\u0131 Mamul: 1.846.000 ton<\/li>\n
        • Uzun Mamul: 265.000 ton<\/li>\n
        • Pelet, Demir ve Manyezit: 575.000 ton<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n

          Sat\u0131\u015f Performans\u0131<\/h3>\n
            \n
          • Toplam 1,9 milyon ton yass\u0131 mamul sat\u0131\u015f\u0131 yap\u0131lm\u0131\u015f, bunun 1,6 milyon tonu yurt i\u00e7ine ger\u00e7ekle\u015ftirilmi\u015ftir.<\/li>\n
          • Toplam sat\u0131\u015flar\u0131n %15’i ihracat yoluyla yap\u0131lm\u0131\u015ft\u0131r.<\/li>\n
          • Uzun mamul sat\u0131\u015flar\u0131 235 bin ton olarak kaydedilmi\u015ftir.<\/li>\n<\/ul>\n

            ——————————————————————————–<\/p>\n

            4. Yat\u0131r\u0131m, Ar-Ge ve Stratejik Geli\u015fmeler<\/h2>\n

            \u00d6nemli Yat\u0131r\u0131m Projeleri<\/h3>\n

            Raporlama d\u00f6nemi itibar\u0131yla 147 milyon ABD Dolar\u0131 tutar\u0131nda yat\u0131r\u0131m tahakkuku raporlanm\u0131\u015ft\u0131r. Devam eden kritik projeler \u015funlard\u0131r:<\/p>\n

              \n
            • Erdemir Tesisleri:<\/b> 2. Y\u00fcksek F\u0131r\u0131n yenileme yat\u0131r\u0131m\u0131 kapsam\u0131ndaki soba modernizasyonlar\u0131, 2. S\u0131cak Haddehane yat\u0131r\u0131m projeleri ve 154 kV \u0130ndirici Trafo Merkezi yenileme projesi.<\/li>\n
            • \u0130sdemir Tesisleri:<\/b> Liman kapasite art\u0131r\u0131m\u0131, deprem hasarl\u0131 liman tesislerinin onar\u0131m\u0131 ve g\u00fc\u00e7lendirilmesi, 1. R\u0131ht\u0131m cevher bo\u015faltma vin\u00e7lerinin yenilenmesi.<\/li>\n
            • \u00c7evre ve Enerji:<\/b> Evsel at\u0131k su ar\u0131tma tesisi modernizasyonu ve kok kuru s\u00f6nd\u00fcrme tesisi buhar\u0131ndan elektrik \u00fcretilmesi projeleri.<\/li>\n<\/ul>\n

              Ara\u015ft\u0131rma ve Geli\u015ftirme (Ar-Ge)<\/h3>\n

              Faaliyetler 2014 y\u0131l\u0131nda tescil edilen Erdemir Ar-Ge Merkezi b\u00fcnyesinde; hammadde, demir-\u00e7elik \u00fcretimi, d\u00f6k\u00fcm teknolojileri, s\u0131cak\/so\u011fuk \u00fcr\u00fcnler ile enerji ve \u00e7evre olmak \u00fczere be\u015f ana ba\u015fl\u0131kta y\u00fcr\u00fct\u00fclmektedir. Merkez, pilot \u00f6l\u00e7ekli sim\u00fclasyon sistemleri ve geli\u015fmi\u015f laboratuvar altyap\u0131s\u0131 ile operasyonel verimlili\u011fi desteklemektedir.<\/p>\n

              ——————————————————————————–<\/p>\n

              5. Sekt\u00f6rel G\u00f6r\u00fcn\u00fcm ve Fiyat Trendleri<\/h2>\n

              K\u00fcresel ve Yerel \u00c7elik Pazar\u0131<\/h3>\n
                \n
              • D\u00fcnya Ham \u00c7elik \u00dcretimi:<\/b> 2026 Ocak-\u015eubat d\u00f6neminde y\u0131ll\u0131k %1,5 d\u00fc\u015f\u00fc\u015fle 298,2 milyon ton olmu\u015ftur. \u00c7in’in \u00fcretimi %3,6 azal\u0131rken, Hindistan %7,7 art\u0131\u015f g\u00f6stermi\u015ftir.<\/li>\n
              • T\u00fcrkiye Pazar\u0131:<\/b> T\u00fcrkiye’nin ham \u00e7elik \u00fcretimi \u015eubat ay\u0131nda %3,4, Ocak-\u015eubat d\u00f6neminde ise %4,7 art\u0131\u015f kaydederek 6,4 milyon ton seviyesine \u00e7\u0131km\u0131\u015ft\u0131r. \u00d6zellikle entegre tesislerdeki %19’luk \u00fcretim art\u0131\u015f\u0131 dikkat \u00e7ekicidir.<\/li>\n<\/ul>\n

                Fiyat Trendleri (25 Mart 2026 \u0130tibar\u0131yla)<\/h3>\n

                SteelBenchmarke verilerine g\u00f6re s\u0131cak rulo sac (HRB) fiyatlar\u0131 b\u00f6lgeler baz\u0131nda \u015fu \u015fekildedir (metrik ton ba\u015f\u0131na ABD Dolar\u0131):<\/p>\n

                  \n
                • ABD (FOB Mill):<\/b> 1.083 $<\/li>\n
                • Bat\u0131 Avrupa (Ex-works):<\/b> 818 $<\/li>\n
                • D\u00fcnya \u0130hracat (FOB):<\/b> 472 $<\/li>\n
                • \u00c7in (Ex-works):<\/b> 413 $<\/li>\n<\/ul>\n

                  ——————————————————————————–<\/p>\n

                  6. Risk Y\u00f6netimi ve \u0130\u00e7 Denetim<\/h2>\n

                  \u015eirket b\u00fcnyesinde risklerin erken te\u015fhisi ve y\u00f6netimi i\u00e7in yap\u0131land\u0131r\u0131lm\u0131\u015f bir sistem bulunmaktad\u0131r:<\/p>\n

                    \n
                  • \u0130\u00e7 Denetim:<\/b> Do\u011frudan Y\u00f6netim Kurulu\u2019na ba\u011fl\u0131 \u0130\u00e7 Denetim Direkt\u00f6rl\u00fc\u011f\u00fc taraf\u0131ndan, uluslararas\u0131 standartlara ve veri analiti\u011fine dayal\u0131 olarak y\u00fcr\u00fct\u00fclmektedir.<\/li>\n
                  • Riskin Erken Saptanmas\u0131 Komitesi:<\/b> \u015eirketin varl\u0131\u011f\u0131n\u0131 tehlikeye d\u00fc\u015f\u00fcrebilecek riskleri iki ayl\u0131k periyotlarla de\u011ferlendirerek Y\u00f6netim Kurulu’na raporlamaktad\u0131r.<\/li>\n
                  • Kurumsal Y\u00f6netim:<\/b> \u015eirket, 2025 y\u0131l\u0131 Faaliyet Raporu’nda a\u00e7\u0131klanan Kurumsal Y\u00f6netim \u0130lkeleri’ne 2026’n\u0131n ilk \u00e7eyre\u011finde de tam uyum sa\u011flam\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n