{"id":2377,"date":"2026-05-02T14:39:09","date_gmt":"2026-05-02T11:39:09","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=2377"},"modified":"2026-05-02T14:39:35","modified_gmt":"2026-05-02T11:39:35","slug":"tknsa-2026-03-faaliyet-raporu-analizi-teknosa-i-ve-d-ticaret","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/2377","title":{"rendered":"\ud83d\udd35 TKNSA 2026-03 Faaliyet Raporu Analizi | Teknosa \u0130\u00e7 ve D\u0131\u015f Ticaret"},"content":{"rendered":"

Teknosa 2026 Y\u0131l\u0131 Birinci \u00c7eyrek Faaliyet Raporu Analizi ve Stratejik Brifing<\/h1>\n

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

Teknosa, 2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011finde zorlu makroekonomik ko\u015fullara ve artan finansman maliyetlerine ra\u011fmen operasyonel g\u00fcc\u00fcn\u00fc korumu\u015ftur. \u015eirket, e-ticaret sat\u0131\u015flar\u0131ndaki b\u00fcy\u00fcmenin deste\u011fiyle panel pazar\u0131n\u0131n \u00fczerinde bir performans sergileyerek cirosunu reel olarak %3 art\u0131rm\u0131\u015f ve 22,2 milyar TL seviyesine ula\u015fm\u0131\u015ft\u0131r. Mevcut d\u00f6nemde dijitalle\u015fme, yapay zek\u00e2 entegrasyonu ve s\u00fcrd\u00fcr\u00fclebilirlik odakl\u0131 yat\u0131r\u0131mlar stratejik \u00f6nceli\u011fini korumu\u015ftur. \u015eirket y\u00f6netimi, CEO Sitare Sezgin’in Nisan 2026 sonu itibar\u0131yla g\u00f6revden ayr\u0131laca\u011f\u0131n\u0131 ve bu g\u00f6revi ge\u00e7ici olarak Y\u00f6netim Kurulu Ba\u015fkan\u0131 G\u00f6khan Eyig\u00fcn’\u00fcn \u00fcstlenece\u011fini duyurmu\u015ftur.<\/p>\n

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1. Kurumsal Profil ve Y\u00f6netim Yap\u0131s\u0131<\/h2>\n

1.1. Ortakl\u0131k Yap\u0131s\u0131 ve Sermaye<\/h3>\n

31 Mart 2026 itibar\u0131yla Teknosa\u2019n\u0131n \u00e7\u0131kar\u0131lm\u0131\u015f sermayesi 201.000.000 TL olup, hisse yap\u0131s\u0131 a\u015fa\u011f\u0131daki gibidir:<\/p>\n\n\n\n\n\n\n
Hissedar<\/td>\nSermayedeki Pay\u0131 (TL)<\/td>\nSermaye\/Oy Hakk\u0131 Pay\u0131 (%)<\/td>\n<\/tr>\n
Hac\u0131 \u00d6mer Sabanc\u0131 Holding A.\u015e.<\/td>\n100.500.001,44<\/td>\n50,00<\/td>\n<\/tr>\n
Halka A\u00e7\u0131k ve Di\u011fer<\/td>\n100.499.998,56<\/td>\n50,00<\/td>\n<\/tr>\n
Toplam<\/b><\/td>\n201.000.000,00<\/b><\/td>\n100,00<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

1.2. Y\u00f6netim Kurulu ve Liderlik De\u011fi\u015fimi<\/h3>\n

Mart 2026 itibar\u0131yla g\u00f6reve gelen Y\u00f6netim Kurulu, 2027 y\u0131l\u0131 Ola\u011fan Genel Kurulu’na kadar g\u00f6rev yapacakt\u0131r. \u0130cra kurulunda kritik bir de\u011fi\u015fim ya\u015fanmaktad\u0131r:<\/p>\n

    \n
  • \u00dcst Y\u00f6netim De\u011fi\u015fimi:<\/b> CEO Sitare Sezgin, 30.04.2026 tarihinde g\u00f6revinden ayr\u0131lacakt\u0131r. Yeni bir atama yap\u0131lana kadar, 1 May\u0131s 2026’dan itibaren Y\u00f6netim Kurulu Ba\u015fkan\u0131 G\u00f6khan Eyig\u00fcn \u0130cra Kurulu’na ba\u015fkanl\u0131k edecektir.<\/li>\n
  • \u0130cra Kurulu \u00dcyeleri:<\/b> \u00dcmit Kocagil (CFO), Nail Enver Yelkenci (Perakende Sat\u0131\u015f), Cenk Yenginer (Kategori ve Tedarik Zinciri), Emre Kurto\u011flu (Dijital Ticaret ve Pazarlama), Ersen Gel\u00e7in (Teknoloji), Nil\u00fcfer De\u011firmenci (\u0130K ve S\u00fcrd\u00fcr\u00fclebilirlik), Tansu \u00d6ztorun (\u0130klimsa).<\/li>\n<\/ul>\n

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    2. Pazar De\u011ferlendirmesi ve Rekabet Analizi<\/h2>\n

    2026 y\u0131l\u0131n\u0131n ilk iki ay\u0131na ili\u015fkin GfK verileri, t\u00fcketici elektroni\u011fi pazar\u0131n\u0131n reel bazda %1 oran\u0131nda s\u0131n\u0131rl\u0131 bir b\u00fcy\u00fcme kaydetti\u011fini g\u00f6stermektedir.<\/p>\n

      \n
    • Kategori Bazl\u0131 Performans:<\/b>\n
        \n
      • Bilgi Teknolojileri:<\/b> %16 b\u00fcy\u00fcme ile pazar\u0131n lokomotifi olmu\u015ftur.<\/li>\n
      • K\u00fc\u00e7\u00fck Ev Aletleri:<\/b> %3 b\u00fcy\u00fcme.<\/li>\n
      • Telekom:<\/b> %1 b\u00fcy\u00fcme.<\/li>\n
      • TV ve G\u00f6r\u00fcnt\u00fc Sistemleri:<\/b> %1 daralma.<\/li>\n
      • B\u00fcy\u00fck Beyaz E\u015fya:<\/b> %3 daralma.<\/li>\n<\/ul>\n<\/li>\n
      • Online Pazar (Techonline):<\/b> Dijital kanallardaki b\u00fcy\u00fcme fiziksel pazar\u0131n \u00e7ok \u00f6n\u00fcnde seyretmektedir. Techonline pazar\u0131, reel olarak %11 b\u00fcy\u00fcme kaydetmi\u015ftir. Bu segmentte en y\u00fcksek b\u00fcy\u00fcme %26 ile yine Bilgi Teknolojileri kategorisinde g\u00f6r\u00fclm\u00fc\u015ft\u00fcr.<\/li>\n<\/ul>\n

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        3. Finansal Sonu\u00e7lar ve Operasyonel Verimlilik<\/h2>\n

        Teknosa, y\u00fcksek enflasyon ve finansman maliyetleri bask\u0131s\u0131 alt\u0131nda maliyet kontrol\u00fcne odaklanm\u0131\u015ft\u0131r.<\/p>\n

        3.1. Temel Finansal G\u00f6stergeler (1\u00c7 2026)<\/h3>\n
          \n
        • Ciro:<\/b> 22,2 milyar TL (Reel %3 art\u0131\u015f).<\/li>\n
        • Like-for-Like (LFL) B\u00fcy\u00fcme:<\/b> Ma\u011faza etkileri hari\u00e7 %9,6 art\u0131\u015f.<\/li>\n
        • Br\u00fct K\u00e2r Marj\u0131:<\/b> %11,5 (Ge\u00e7en y\u0131l %12,7). Yo\u011fun rekabet ve \u00fcr\u00fcn miksindeki de\u011fi\u015fim marj\u0131 bask\u0131lam\u0131\u015ft\u0131r.<\/li>\n
        • FAV\u00d6K:<\/b> 643 milyon TL (Reel %12 art\u0131\u015f). Etkin gider y\u00f6netimi sayesinde FAV\u00d6K marj\u0131 %2,9\u2019a y\u00fckselmi\u015ftir.<\/li>\n
        • Net Zarar:<\/b> 477 milyon TL (Ge\u00e7en y\u0131l 542 milyon TL zarar). Zarar\u0131n azalmas\u0131nda operasyonel verimlilik etkili olmu\u015ftur.<\/li>\n
        • Finansal Giderler:<\/b> Net Finansman Giderleri\/Sat\u0131\u015flar oran\u0131 %6,0\u2019ya y\u00fckselmi\u015ftir (1\u00c725: %5,2).<\/li>\n<\/ul>\n

          3.2. Finansal Rasyolar<\/h3>\n\n\n\n\n\n\n\n
          Rasyo<\/td>\n31 Mart 2026<\/td>\n31 Aral\u0131k 2025<\/td>\n<\/tr>\n
          Cari Oran<\/td>\n0,81<\/td>\n0,83<\/td>\n<\/tr>\n
          Likidite Oran\u0131<\/td>\n0,13<\/td>\n0,22<\/td>\n<\/tr>\n
          Toplam Y\u00fck\u00fcml\u00fcl\u00fckler \/ \u00d6zkaynaklar<\/td>\n68,80<\/td>\n29,86<\/td>\n<\/tr>\n
          Toplam Y\u00fck\u00fcml\u00fcl\u00fckler \/ Aktif Toplam<\/td>\n0,99<\/td>\n0,97<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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          4. Stratejik Giri\u015fimler ve Dijital D\u00f6n\u00fc\u015f\u00fcm<\/h2>\n

          \u015eirket, “Gelece\u011fin Teknosa\u2019s\u0131” vizyonu do\u011frultusunda yapay zek\u00e2 ve m\u00fc\u015fteri deneyimi odakl\u0131 yat\u0131r\u0131mlar\u0131na devam etmektedir.<\/p>\n

            \n
          • Yapay Zek\u00e2 (Bilge):<\/b> Sat\u0131\u015f dan\u0131\u015fman\u0131 asistan\u0131 “Bilge”, %81 aktif kullan\u0131m oran\u0131na ula\u015fm\u0131\u015ft\u0131r. Bilge’yi yo\u011fun kullanan dan\u0131\u015fmanlar\u0131n ortalaman\u0131n \u00fczerinde performans sergiledi\u011fi tespit edilmi\u015ftir.<\/li>\n
          • M\u00fc\u015fteri Deneyimi:<\/b> TeknoClub \u00fcye say\u0131s\u0131 5,4 milyona yakla\u015fm\u0131\u015ft\u0131r. Teknosa, ba\u011f\u0131ms\u0131z ara\u015ft\u0131rmalarda “\u0130lk Akla Gelen” ve “En \u00c7ok Tavsiye Edilen” marka unvanlar\u0131n\u0131 korumu\u015ftur.<\/li>\n
          • \u00dcr\u00fcn ve Servis Geni\u015flemesi:<\/b> \u00d6z markas\u0131 Preo<\/b> portf\u00f6y\u00fcne Smart TV segmentini eklemi\u015ftir. Ayr\u0131ca, ebeveynler i\u00e7in “\u00c7ocuk G\u00fcvenli\u011fi Siber Servis Paketi” kullan\u0131ma sunulmu\u015ftur.<\/li>\n
          • \u0130klimsa:<\/b> G\u00fcne\u015f Enerjisi Sistemleri (GES) alan\u0131nda 115 bayiye ula\u015f\u0131lm\u0131\u015f ve y\u0131l\u0131n ilk \u00e7eyre\u011finde 28 proje sat\u0131\u015f\u0131 ger\u00e7ekle\u015ftirilmi\u015ftir.<\/li>\n<\/ul>\n

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            5. S\u00fcrd\u00fcr\u00fclebilirlik ve \u0130nsan Kaynaklar\u0131<\/h2>\n

            Teknosa, \u00c7SY (\u00c7evresel, Sosyal ve Y\u00f6neti\u015fim) performans\u0131n\u0131 i\u015f stratejisinin merkezine konumland\u0131rm\u0131\u015ft\u0131r.<\/p>\n

              \n
            • S\u00fcrd\u00fcr\u00fclebilirlik Ba\u015far\u0131lar\u0131:<\/b>\n
                \n
              • CDP \u0130klim De\u011fi\u015fikli\u011fi Program\u0131’nda A- notu<\/b> al\u0131nm\u0131\u015ft\u0131r.<\/li>\n
              • BIST S\u00fcrd\u00fcr\u00fclebilirlik Endeksi\u2019ne dahil olunmu\u015ftur.<\/li>\n
              • “Kad\u0131n i\u00e7in Teknoloji” projesi ile 2026\u2019n\u0131n ilk \u00e7eyre\u011finde 1018 kad\u0131na, toplamda ise 42 binin \u00fczerinde kad\u0131na ula\u015f\u0131lm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<\/li>\n
              • \u0130nsan Kayna\u011f\u0131:<\/b> 31 Mart 2026 itibar\u0131yla personel say\u0131s\u0131 2.459’dur. \u00c7al\u0131\u015fan ba\u015f\u0131na ortalama 10,75 saat geli\u015fim e\u011fitimi verilmi\u015ftir.<\/li>\n
              • \u00c7e\u015fitlilik:<\/b> \u015eirket, UN Women Kad\u0131n\u0131n G\u00fc\u00e7lenmesi Prensipleri\u2019ni (WEPs) imzalayan ilk teknoloji perakende \u015firketidir.<\/li>\n<\/ul>\n

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                6. Risk Y\u00f6netimi ve Gelecek Projeksiyonu<\/h2>\n

                Teknosa, risk y\u00f6netimini CEO’ya do\u011frudan ba\u011fl\u0131 bir m\u00fcd\u00fcrl\u00fck arac\u0131l\u0131\u011f\u0131yla ve Riskin Erken Saptanmas\u0131 Komitesi g\u00f6zetiminde y\u00fcr\u00fctmektedir.<\/p>\n

                  \n
                • Finansal Riskler:<\/b> D\u00f6viz kuru ve faiz dalgalanmalar\u0131na kar\u015f\u0131 t\u00fcrev enstr\u00fcmanlar kullan\u0131lmakta, etkin faiz y\u00f6netimi i\u00e7in finansman bonosu ihra\u00e7lar\u0131na devam edilmektedir.<\/li>\n
                • Stratejik Odak:<\/b> Gelecek d\u00f6nemde tam kapsaml\u0131 SAP d\u00f6n\u00fc\u015f\u00fcm\u00fc, yapay zek\u00e2 destekli ticari giri\u015fimler ve disiplinli stok\/likidite y\u00f6netimi \u00f6ncelikli olacakt\u0131r.<\/li>\n
                • Uyum:<\/b> \u015eirket, SPK Kurumsal Y\u00f6netim \u0130lkeleri’ndeki 24 zorunlu ilkeye %100 uyum sa\u011flam\u0131\u015f durumdad\u0131r.<\/li>\n<\/ul>\n

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                  Bu belge, Teknosa \u0130\u00e7 ve D\u0131\u015f Ticaret A.\u015e. 31.03.2026 tarihli faaliyet raporu verileri esas al\u0131narak haz\u0131rlanm\u0131\u015ft\u0131r.<\/i><\/p>\n