{"id":2367,"date":"2026-05-02T14:32:47","date_gmt":"2026-05-02T11:32:47","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=2367"},"modified":"2026-05-02T14:33:33","modified_gmt":"2026-05-02T11:33:33","slug":"a1cap-2026-03-faaliyet-raporu-analizi-a1-capital-yatrm-menkul-deerler","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/2367","title":{"rendered":"\ud83d\udd35 A1CAP 2026-03 Faaliyet Raporu Analizi | A1 Capital Yat\u0131r\u0131m Menkul De\u011ferler"},"content":{"rendered":"<h1>A1 Capital Yat\u0131r\u0131m Menkul De\u011ferler A.\u015e. Faaliyet Raporu Bilgilendirme Dosyas\u0131 (01.01.2026 \u2013 31.03.2026)<\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu belge, A1 Capital Yat\u0131r\u0131m Menkul De\u011ferler A.\u015e.&#8217;nin (A1CAP) 2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011fine (01 Ocak &#8211; 31 Mart 2026) ili\u015fkin faaliyetlerini, finansal durumunu ve stratejik geli\u015fmelerini sentezlemektedir. D\u00f6nem i\u00e7inde \u015firket, sermaye piyasalar\u0131ndaki geni\u015f yetki belgesi kapsam\u0131ndaki faaliyetlerini s\u00fcrd\u00fcrm\u00fc\u015f, i\u015ftiraki olan portf\u00f6y y\u00f6netim \u015firketinin yetkilendirme s\u00fcre\u00e7lerini tamamlam\u0131\u015f ve kurumsal yap\u0131s\u0131n\u0131 g\u00fc\u00e7lendirmi\u015ftir.<\/p>\n<p><b>Kritik Veriler:<\/b><\/p>\n<ul>\n<li><b>\u00c7\u0131kar\u0131lm\u0131\u015f Sermaye:<\/b> 675.000.000 TL<\/li>\n<li><b>Piyasa De\u011feri (31.03.2026):<\/b> 9,35 Milyar TL<\/li>\n<li><b>D\u00f6nem Net Zarar\u0131:<\/b> 1.049.101.373 TL (B\u00fcy\u00fck oranda parasal kay\u0131plardan kaynakl\u0131d\u0131r)<\/li>\n<li><b>Toplam Varl\u0131klar:<\/b> 16,1 Milyar TL<\/li>\n<li><b>Kredi Notu:<\/b> TR AA- (Uzun Vadeli), TR A1 (K\u0131sa Vadeli), G\u00f6r\u00fcn\u00fcm: Dura\u011fan<\/li>\n<\/ul>\n<p>Stratejik a\u00e7\u0131dan en \u00f6nemli geli\u015fme, y\u00f6netim kurulunun kay\u0131tl\u0131 sermaye tavan\u0131n\u0131 1 milyar TL&#8217;den 10 milyar TL&#8217;ye \u00e7\u0131karma karar\u0131d\u0131r. Finansal tablolar, \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemindeki k\u00e2rl\u0131l\u0131\u011fa kar\u015f\u0131n, 2026 ilk \u00e7eyre\u011finde enflasyon muhasebesi etkilerini yans\u0131tan \u00f6nemli bir parasal kay\u0131p ve netice olarak d\u00f6nem zarar\u0131 g\u00f6stermektedir.<\/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. Kurumsal Profil ve Y\u00f6netim Yap\u0131s\u0131<\/h2>\n<h3>1.1. \u015eirket Hakk\u0131nda Genel Bilgiler<\/h3>\n<p>1990 y\u0131l\u0131nda kurulan ve 2015 y\u0131l\u0131nda mevcut unvan\u0131n\u0131 alan A1 Capital, Sermaye Piyasas\u0131 Kurulu (SPK) taraf\u0131ndan verilen &#8220;Geni\u015f Yetki&#8221; belgesi ile faaliyet g\u00f6stermektedir. \u015eirket; i\u015flem arac\u0131l\u0131\u011f\u0131, portf\u00f6y arac\u0131l\u0131\u011f\u0131, halka arza arac\u0131l\u0131k, yat\u0131r\u0131m dan\u0131\u015fmanl\u0131\u011f\u0131, bireysel portf\u00f6y y\u00f6neticili\u011fi ve s\u0131n\u0131rl\u0131 saklama hizmetleri sunmaktad\u0131r.<\/p>\n<p><b>Operasyonel A\u011f:<\/b> \u015eirket, 8 farkl\u0131 ilde toplam 16 irtibat b\u00fcrosu ve 1 \u015fube (Ankara \u00c7ankaya) ile hizmet vermektedir. \u0130stanbul (7 irtibat b\u00fcrosu), Ankara (2 irtibat b\u00fcrosu), \u0130zmir (2 irtibat b\u00fcrosu), Adana, Antalya, Bursa, \u00c7anakkale ve Eski\u015fehir ana hizmet noktalar\u0131d\u0131r. Denizli irtibat b\u00fcrosu 23 Ocak 2026 itibar\u0131yla kapat\u0131lm\u0131\u015ft\u0131r.<\/p>\n<h3>1.2. Sermaye ve Ortakl\u0131k Yap\u0131s\u0131<\/h3>\n<p>\u015eirket paylar\u0131 15 Haziran 2023 tarihinden bu yana Borsa \u0130stanbul&#8217;da &#8220;A1CAP&#8221; koduyla i\u015flem g\u00f6rmektedir.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Ortak Unvan\u0131<\/td>\n<td>Pay Oran\u0131 (%)<\/td>\n<td>Oy Hakk\u0131 Oran\u0131 (%)<\/td>\n<\/tr>\n<tr>\n<td>G\u00fcler Yat\u0131r\u0131m Holding A.\u015e.<\/td>\n<td>32,15<\/td>\n<td>36,05<\/td>\n<\/tr>\n<tr>\n<td>RTA Laboratuvarlar\u0131 Biyolojik \u00dcr\u00fcnler A.\u015e.<\/td>\n<td>28,85<\/td>\n<td>32,83<\/td>\n<\/tr>\n<tr>\n<td>\u0130CG Finansal Dan\u0131\u015fmanl\u0131k A.\u015e.<\/td>\n<td>7,41<\/td>\n<td>8,42<\/td>\n<\/tr>\n<tr>\n<td>Fatma Karag\u00f6zl\u00fc<\/td>\n<td>2,22<\/td>\n<td>1,60<\/td>\n<\/tr>\n<tr>\n<td>Di\u011fer (Halka A\u00e7\u0131k ve Di\u011fer)<\/td>\n<td>29,37<\/td>\n<td>21,10<\/td>\n<\/tr>\n<tr>\n<td><b>TOPLAM<\/b><\/td>\n<td><b>100,00<\/b><\/td>\n<td><b>100,00<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><i>(A) grubu paylar\u0131n y\u00f6netim kurulu aday g\u00f6sterme ve genel kurulda oy \u00fcst\u00fcnl\u00fc\u011f\u00fc (5 oy hakk\u0131) bulunmaktad\u0131r.<\/i><\/p>\n<h3>1.3. Y\u00f6netim Kurulu ve Komiteler<\/h3>\n<p>Y\u00f6netim Kurulu 6 \u00fcyeden olu\u015fmaktad\u0131r. D\u00f6nem i\u00e7inde Mehmet Serkan Esenpak&#8217;\u0131n istifas\u0131 \u00fczerine Aysun Kandemir atanm\u0131\u015ft\u0131r. Ba\u011f\u0131ms\u0131z \u00fcye \u0130nan\u00e7 As\u0131m S\u00f6zer d\u00f6nem i\u00e7inde atanm\u0131\u015f, ancak d\u00f6nem sonras\u0131na sarkan 08.04.2026 tarihinde istifa etmi\u015ftir.<\/p>\n<ul>\n<li><b>Y\u00f6netim Kurulu Ba\u015fkan\u0131:<\/b> Ay\u015fe Terzi<\/li>\n<li><b>Genel M\u00fcd\u00fcrl\u00fck (Vekaleten):<\/b> Selen Derin (22.01.2026 tarihinden itibaren)<\/li>\n<li><b>\u00dcst D\u00fczey Y\u00f6netici Haklar\u0131:<\/b> D\u00f6nem i\u00e7inde sa\u011flanan toplam menfaat 24.538.251 TL&#8217;dir.<\/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. \u0130\u015ftirakler ve Ba\u011fl\u0131 Ortakl\u0131klar<\/h2>\n<p>A1 Capital, ana faaliyet alan\u0131n\u0131 destekleyen ve \u00e7e\u015fitlendiren \u00fc\u00e7 \u00f6nemli i\u015ftirake sahiptir:<\/p>\n<ol>\n<li><b>A1 Capital Portf\u00f6y Y\u00f6netimi A.\u015e. (%100):<\/b> Yat\u0131r\u0131m fonlar\u0131n\u0131n kurulmas\u0131 ve y\u00f6netimi amac\u0131yla kurulmu\u015ftur. 13.02.2025 tarihinde faaliyet izni ve portf\u00f6y y\u00f6neticili\u011fi yetki belgesi alm\u0131\u015ft\u0131r.<\/li>\n<li><b>A1 E\u011fitim ve Filo Kiralama A.\u015e. (%1):<\/b> Motorlu hafif kara ta\u015f\u0131tlar\u0131n\u0131n s\u00fcr\u00fcc\u00fcs\u00fcz kiralanmas\u0131 ve e\u011fitim hizmetleri alan\u0131nda faaliyet g\u00f6stermektedir.<\/li>\n<li><b>A1 Yenilenebilir Enerji ve \u00dcretim A.\u015e. (%5):<\/b> 53.414,06 kWp kurulu g\u00fcce sahip g\u00fcne\u015f enerjisi santralleri ile elektrik \u00fcretimi ve sat\u0131\u015f\u0131 yapmaktad\u0131r.<\/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>3. Finansal Durum Analizi<\/h2>\n<h3>3.1. Bilan\u00e7o \u00d6zeti (31 Mart 2026 itibar\u0131yla)<\/h3>\n<p>\u015eirketin toplam varl\u0131klar\u0131nda 2025 sonuna g\u00f6re bir daralma g\u00f6zlemlenmi\u015ftir.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem<\/td>\n<td>31 Mart 2026 (TL)<\/td>\n<td>31 Aral\u0131k 2025 (TL)<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Varl\u0131klar<\/b><\/td>\n<td><b>16.107.037.620<\/b><\/td>\n<td><b>20.032.125.974<\/b><\/td>\n<\/tr>\n<tr>\n<td>D\u00f6nen Varl\u0131klar<\/td>\n<td>15.396.109.681<\/td>\n<td>19.295.438.577<\/td>\n<\/tr>\n<tr>\n<td>Duran Varl\u0131klar<\/td>\n<td>710.927.939<\/td>\n<td>736.687.397<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Y\u00fck\u00fcml\u00fcl\u00fckler<\/b><\/td>\n<td><b>7.051.390.294<\/b><\/td>\n<td><b>9.927.336.378<\/b><\/td>\n<\/tr>\n<tr>\n<td>\u00d6zkaynaklar<\/td>\n<td>9.055.647.326<\/td>\n<td>10.104.789.596<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>3.2. Gelir Tablosu ve K\u00e2rl\u0131l\u0131k Performans\u0131<\/h3>\n<p>\u015eirketin has\u0131lat\u0131 art\u0131\u015f g\u00f6stermesine ra\u011fmen, operasyonel maliyetler ve \u00f6zellikle parasal pozisyon kayb\u0131 neticeyi olumsuz etkilemi\u015ftir.<\/p>\n<ul>\n<li><b>Has\u0131lat:<\/b> 6.820.637.951 TL (\u00d6nceki y\u0131l ayn\u0131 d\u00f6nem: 6.250.199.177 TL)<\/li>\n<li><b>Br\u00fct K\u00e2r:<\/b> 276.170.373 TL (\u00d6nceki y\u0131l ayn\u0131 d\u00f6nem: 1.439.713.105 TL)<\/li>\n<li><b>Parasal Kay\u0131p:<\/b> 1.014.399.115 TL (\u00d6nemli negatif etki)<\/li>\n<li><b>D\u00f6nem Net Zarar\u0131:<\/b> 1.049.101.373 TL (2025 ilk \u00e7eyrekte 758,7 Milyon TL k\u00e2r elde edilmi\u015fti)<\/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. Yat\u0131r\u0131mc\u0131 \u0130li\u015fkileri ve Bor\u00e7lanma Ara\u00e7lar\u0131<\/h2>\n<h3>4.1. Hisse Senedi Performans\u0131<\/h3>\n<ul>\n<li><b>Fiili Dola\u015f\u0131m Oran\u0131:<\/b> %34,58<\/li>\n<li><b>D\u00f6nem Sonu Fiyat (31.03.2026):<\/b> 13,85 TL<\/li>\n<li><b>G\u00fcnl\u00fck Ortalama \u0130\u015flem Hacmi:<\/b> 169,8 Milyon TL<\/li>\n<li><b>Piyasa De\u011feri:<\/b> 9,35 Milyar TL<\/li>\n<\/ul>\n<h3>4.2. Bor\u00e7lanma Arac\u0131 \u0130hra\u00e7lar\u0131<\/h3>\n<p>\u015eirket, nitelikli yat\u0131r\u0131mc\u0131lara y\u00f6nelik bor\u00e7lanma arac\u0131 ihra\u00e7lar\u0131n\u0131 s\u00fcrd\u00fcrmektedir. D\u00f6nem i\u00e7inde toplam 425 Milyon TL tutar\u0131nda bor\u00e7lanma arac\u0131 itfa edilmi\u015f, 500 Milyon TL tutar\u0131ndaki ara\u00e7lar ise tedav\u00fclde kalmaya devam etmi\u015ftir. Ayr\u0131ca 08.04.2026 tarihinde 100 Milyon TL&#8217;lik yeni bir ihra\u00e7 ger\u00e7ekle\u015ftirilmi\u015ftir.<\/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>5. \u00d6nemli Geli\u015fmeler ve Di\u011fer Hususlar<\/h2>\n<ul>\n<li><b>Sermaye Tavan\u0131 Art\u0131r\u0131m\u0131:<\/b> 27.04.2026 tarihli Y\u00f6netim Kurulu karar\u0131 ile kay\u0131tl\u0131 sermaye tavan\u0131n\u0131n %1000 art\u0131r\u0131larak <b>10.000.000.000 TL<\/b>&#8216;ye \u00e7\u0131kar\u0131lmas\u0131 ve s\u00fcresinin 2030 y\u0131l\u0131na kadar uzat\u0131lmas\u0131 kararla\u015ft\u0131r\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>K\u00e2r Da\u011f\u0131t\u0131m\u0131:<\/b> 2025 y\u0131l\u0131 k\u00e2r\u0131na ili\u015fkin olarak k\u00e2r da\u011f\u0131t\u0131m\u0131 yap\u0131lmamas\u0131 \u00f6nerisi 07.04.2026 tarihli Genel Kurul&#8217;da kabul edilmi\u015ftir.<\/li>\n<li><b>Denetim:<\/b> \u015eirketin 2026 y\u0131l\u0131 ba\u011f\u0131ms\u0131z denet\u00e7isi olarak PKF Aday Ba\u011f\u0131ms\u0131z Denetim A.\u015e. se\u00e7ilmi\u015ftir.<\/li>\n<li><b>Ba\u011f\u0131\u015flar:<\/b> D\u00f6nem i\u00e7erisinde 85.000 TL tutar\u0131nda ba\u011f\u0131\u015f yap\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>Hukuki Durum:<\/b> \u015eirket aleyhine a\u00e7\u0131lan, mali durumu veya faaliyetleri \u00f6nemli derecede etkileyebilecek nitelikte herhangi bir dava bulunmamaktad\u0131r.<\/li>\n<li><b>Mevzuat:<\/b> D\u00f6nem i\u00e7inde faaliyetleri \u00f6nemli derecede etkileyecek bir mevzuat de\u011fi\u015fikli\u011fi veya uygulanan bir idari\/adli yapt\u0131r\u0131m raporlanmam\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<button class=\"simplefavorite-button\" data-postid=\"2367\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>A1 Capital, 2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011finde finansal d\u00f6n\u00fc\u015f\u00fcm ve stratejik b\u00fcy\u00fcme hamlelerine odakland\u0131. \u015eirketin son faaliyet raporu, 10 milyar TL\u2019ye \u00e7\u0131kar\u0131lan sermaye tavan\u0131 ve yeni kurulan portf\u00f6y y\u00f6netim \u015firketiyle gelecek vizyonunu ortaya koyarken; y\u00fcksek enflasyon d\u00fczeltmeleri kaynakl\u0131 parasal kay\u0131plar\u0131n net k\u00e2rl\u0131l\u0131k \u00fczerindeki bask\u0131s\u0131n\u0131 da g\u00f6zler \u00f6n\u00fcne seriyor. Yat\u0131r\u0131mc\u0131lar i\u00e7in kritik verilerin, y\u00f6netim kadrosundaki de\u011fi\u015fimlerin ve piyasa performans\u0131n\u0131n detayl\u0131 analizini bu yaz\u0131m\u0131zda bulabilirsiniz.<\/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":[272],"class_list":["post-2367","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-faaliyetraporuanalizi","tag-a1cap"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2367","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=2367"}],"version-history":[{"count":1,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2367\/revisions"}],"predecessor-version":[{"id":2368,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2367\/revisions\/2368"}],"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=2367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=2367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=2367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}