{"id":2413,"date":"2026-05-06T22:23:32","date_gmt":"2026-05-06T19:23:32","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=2413"},"modified":"2026-05-06T22:24:25","modified_gmt":"2026-05-06T19:24:25","slug":"tpra-2026-birinci-eyrek-zet-konsolide-finansal-raporu","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/2413","title":{"rendered":"T\u00fcpra\u015f 2026 Birinci \u00c7eyrek \u00d6zet Konsolide Finansal Raporu"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"T\u00fcpra\u015f&#039;tan G\u00fc\u00e7l\u00fc Ba\u015flang\u0131\u00e7: 2026 Y\u0131l\u0131 1 \u00c7eyrek Finansal Rapor \u00d6zeti\" width=\"858\" height=\"644\" src=\"https:\/\/www.youtube.com\/embed\/OF0UIZuA19o?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>T\u00dcRK\u0130YE PETROL RAF\u0130NER\u0130LER\u0130 A.\u015e. (T\u00dcPRA\u015e) 2026 B\u0130R\u0130NC\u0130 \u00c7EYREK ARA D\u00d6NEM F\u0130NANSAL BR\u0130F\u0130NG\u0130<\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu brifing belgesi, T\u00fcrkiye Petrol Rafinerileri A.\u015e.&#8217;nin (T\u00fcpra\u015f) 1 Ocak &#8211; 31 Mart 2026 ara hesap d\u00f6nemine ait \u00f6zet konsolide finansal sonu\u00e7lar\u0131n\u0131 analiz etmektedir. Grup, 2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011finde y\u00fcksek enflasyonlu ekonomilerde finansal raporlama standartlar\u0131n\u0131 (TMS 29) uygulayarak haz\u0131rlad\u0131\u011f\u0131 tablolarda g\u00fc\u00e7l\u00fc bir operasyonel performans sergilemi\u015ftir.<\/p>\n<p><b>Kritik \u00c7\u0131kar\u0131mlar:<\/b><\/p>\n<ul>\n<li><b>K\u00e2rl\u0131l\u0131kta Belirgin Art\u0131\u015f:<\/b> 2025&#8217;in ayn\u0131 d\u00f6neminde 157,2 milyon TL olan net d\u00f6nem k\u00e2r\u0131, 2026&#8217;n\u0131n ilk \u00e7eyre\u011finde 3,8 milyar TL seviyesine y\u00fckselmi\u015ftir.<\/li>\n<li><b>Has\u0131lat B\u00fcy\u00fcmesi:<\/b> Konsolide has\u0131lat, bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re %24 art\u0131\u015f g\u00f6stererek 258,3 milyar TL olarak ger\u00e7ekle\u015fmi\u015ftir.<\/li>\n<li><b>Temett\u00fc \u00d6demeleri:<\/b> D\u00f6nem i\u00e7inde \u00f6zkaynaklardan yap\u0131lan 33 milyar TL tutar\u0131ndaki temett\u00fc \u00f6demesi, toplam \u00f6zkaynaklar\u0131n 360 milyar TL seviyesine gerilemesinde temel etken olmu\u015ftur.<\/li>\n<li><b>Finansal Risk Y\u00f6netimi:<\/b> T\u00fcrev ara\u00e7lardaki varl\u0131k ve y\u00fck\u00fcml\u00fcl\u00fck pozisyonlar\u0131nda, \u00f6zellikle nakit ak\u0131\u015f riskinden korunma ama\u00e7l\u0131 i\u015flemler nedeniyle \u00e7ok b\u00fcy\u00fck \u00e7apl\u0131 art\u0131\u015flar kaydedilmi\u015ftir.<\/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>I. Finansal Performans Analizi<\/h2>\n<p>T\u00fcpra\u015f&#8217;\u0131n 2026 y\u0131l\u0131 ilk \u00e7eyrek performans verileri, operasyonel verimlili\u011fin ve br\u00fct k\u00e2r marj\u0131n\u0131n iyile\u015fti\u011fini g\u00f6stermektedir.<\/p>\n<h3>Gelir ve K\u00e2rl\u0131l\u0131k Tablosu (\u00d6zet)<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem (Bin TL)<\/td>\n<td>1 Ocak &#8211; 31 Mart 2026<\/td>\n<td>1 Ocak &#8211; 31 Mart 2025<\/td>\n<\/tr>\n<tr>\n<td><b>Has\u0131lat<\/b><\/td>\n<td>258.253.850<\/td>\n<td>207.582.495<\/td>\n<\/tr>\n<tr>\n<td><b>Sat\u0131\u015flar\u0131n Maliyeti<\/b><\/td>\n<td>(236.678.417)<\/td>\n<td>(190.354.106)<\/td>\n<\/tr>\n<tr>\n<td><b>Br\u00fct K\u00e2r<\/b><\/td>\n<td>21.575.433<\/td>\n<td>17.228.389<\/td>\n<\/tr>\n<tr>\n<td><b>Esas Faaliyet K\u00e2r\u0131<\/b><\/td>\n<td>11.392.484<\/td>\n<td>5.091.901<\/td>\n<\/tr>\n<tr>\n<td><b>Net D\u00f6nem K\u00e2r\u0131<\/b><\/td>\n<td>3.815.100<\/td>\n<td>157.204<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Performans Detaylar\u0131:<\/b><\/p>\n<ul>\n<li><b>Operasyonel K\u00e2rl\u0131l\u0131k:<\/b> Esas faaliyet k\u00e2r\u0131, ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re iki kat\u0131ndan fazla artarak 11,4 milyar TL&#8217;ye ula\u015fm\u0131\u015ft\u0131r.<\/li>\n<li><b>Enflasyon Etkisi:<\/b> TMS 29 uygulamas\u0131 kapsam\u0131nda 2,46 milyar TL tutar\u0131nda &#8220;Net parasal pozisyon kayb\u0131&#8221; kaydedilmi\u015ftir.<\/li>\n<li><b>Vergi Y\u00fck\u00fc:<\/b> S\u00fcrd\u00fcr\u00fclen faaliyetler vergi \u00f6ncesi k\u00e2r\u0131 10,4 milyar TL iken, 6,6 milyar TL tutar\u0131ndaki vergi gideri (d\u00f6nem vergisi ve ertelenmi\u015f vergi dahil) net k\u00e2r \u00fczerinde bask\u0131 olu\u015fturmu\u015ftur.<\/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>II. Konsolide Finansal Durum ve Varl\u0131k Yap\u0131s\u0131<\/h2>\n<p>31 Mart 2026 itibar\u0131yla Grup&#8217;un toplam varl\u0131klar\u0131 704,7 milyar TL&#8217;ye ula\u015fm\u0131\u015ft\u0131r.<\/p>\n<h3>Varl\u0131k ve Kaynak Da\u011f\u0131l\u0131m\u0131<\/h3>\n<ul>\n<li><b>Nakit Pozisyonu:<\/b> Nakit ve nakit benzerleri 129,9 milyar TL seviyesindedir. Ancak bu tutar\u0131n 14,2 milyar TL&#8217;si EPDK gelir pay\u0131, 38,8 milyar TL&#8217;si ise t\u00fcrev i\u015flemler nedeniyle blokeli durumdad\u0131r.<\/li>\n<li><b>Stok Y\u00f6netimi:<\/b> Stoklar 2025 y\u0131l sonundaki 68,4 milyar TL seviyesinden 62,2 milyar TL&#8217;ye gerilemi\u015ftir. Stoklar\u0131n b\u00fcy\u00fck k\u0131sm\u0131n\u0131 yoldaki mallar (ham petrol) ve mamuller olu\u015fturmaktad\u0131r.<\/li>\n<li><b>Maddi Duran Varl\u0131klar:<\/b> Grup&#8217;un 325,7 milyar TL de\u011ferinde maddi duran varl\u0131\u011f\u0131 bulunmaktad\u0131r. D\u00f6nem i\u00e7inde yap\u0131lan yat\u0131r\u0131mlar 3,7 milyar TL seviyesindedir.<\/li>\n<li><b>Bor\u00e7luluk Yap\u0131s\u0131:<\/b> Toplam bor\u00e7lanmalar 55,2 milyar TL seviyesinde yatay seyretmi\u015ftir. Uzun vadeli kredilerin b\u00fcy\u00fck \u00e7o\u011funlu\u011fu ABD Dolar\u0131 cinsindendir (34,6 milyar TL kar\u015f\u0131l\u0131\u011f\u0131).<\/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>III. Operasyonel B\u00f6l\u00fcm Raporlamas\u0131<\/h2>\n<p>Grup faaliyetlerini &#8220;Rafinaj&#8221; ve &#8220;Elektrik&#8221; olmak \u00fczere iki ana segmentte y\u00fcr\u00fctmektedir.<\/p>\n<h3>B\u00f6lgesel Performans Verileri<\/h3>\n<ol>\n<li><b>Rafinaj Segmenti:<\/b>\n<ul>\n<li><b>Has\u0131lat:<\/b> 256,5 milyar TL (Grubun ana gelir kayna\u011f\u0131).<\/li>\n<li><b>D\u00f6nem K\u00e2r\u0131:<\/b> 4,3 milyar TL.<\/li>\n<li><b>Varl\u0131klar:<\/b> 663,6 milyar TL.<\/li>\n<\/ul>\n<\/li>\n<li><b>Elektrik Segmenti:<\/b>\n<ul>\n<li><b>Has\u0131lat:<\/b> 1,8 milyar TL.<\/li>\n<li><b>D\u00f6nem Zarar\u0131:<\/b> (495,5) milyon TL.<\/li>\n<li><b>Varl\u0131klar:<\/b> 41,1 milyar TL.<\/li>\n<\/ul>\n<\/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>IV. \u00d6nemli Yat\u0131r\u0131mlar ve Finansman Faaliyetleri<\/h2>\n<p>T\u00fcpra\u015f, s\u00fcrd\u00fcr\u00fclebilirlik ve finansal \u00e7e\u015fitlendirme odakl\u0131 stratejik ad\u0131mlar atmaya devam etmektedir.<\/p>\n<ul>\n<li><b>S\u00fcrd\u00fcr\u00fclebilirlik Ba\u011flant\u0131l\u0131 Kredi:<\/b> 15 May\u0131s 2025 tarihinde 500 milyon ABD Dolar\u0131 tutar\u0131nda, 5 y\u0131l vadeli s\u00fcrd\u00fcr\u00fclebilirlik ba\u011flant\u0131l\u0131 sendikasyon kredisi sa\u011flanm\u0131\u015ft\u0131r.<\/li>\n<li><b>Murabaha Finansman\u0131:<\/b> 10 Mart 2026 tarihinde 100 milyon ABD Dolar\u0131 tutar\u0131nda, 5 y\u0131l vadeli murabaha finansman\u0131 temin edilmi\u015ftir.<\/li>\n<li><b>Tahvil \u0130hra\u00e7lar\u0131:<\/b> 2024 y\u0131l\u0131nda ihra\u00e7 edilen toplam 6,8 milyar TL nominal de\u011ferli iki farkl\u0131 tahvilin geri \u00f6deme s\u00fcre\u00e7leri devam etmektedir.<\/li>\n<li><b>\u0130\u015f Ortakl\u0131klar\u0131 (Opet):<\/b> \u00d6zkaynak y\u00f6ntemiyle de\u011ferlenen Opet Petrolc\u00fcl\u00fck A.\u015e.&#8217;deki %41,67 oran\u0131ndaki pay\u0131n de\u011feri 18 milyar TL olarak kaydedilmi\u015ftir. Opet, bu d\u00f6nemde 1,25 milyar TL temett\u00fc da\u011f\u0131tm\u0131\u015ft\u0131r.<\/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>V. Risk Y\u00f6netimi ve T\u00fcrev Ara\u00e7lar<\/h2>\n<p>Grup, emtia fiyatlar\u0131 ve d\u00f6viz kurlar\u0131ndaki dalgalanmalara kar\u015f\u0131 yo\u011fun t\u00fcrev ara\u00e7 kullan\u0131m\u0131 ger\u00e7ekle\u015ftirmektedir.<\/p>\n<ul>\n<li><b>Nakit Ak\u0131\u015f Riskinden Korunma:<\/b> Vadeli mal al\u0131m-sat\u0131m i\u015flemleri (commodity hedging) kontrat tutarlar\u0131 52,6 milyar TL seviyesine ula\u015fm\u0131\u015ft\u0131r.<\/li>\n<li><b>T\u00fcrev Varl\u0131k\/Y\u00fck\u00fcml\u00fcl\u00fck Art\u0131\u015f\u0131:<\/b> 2025 y\u0131l sonunda 1,5 milyar TL olan t\u00fcrev ara\u00e7 varl\u0131klar\u0131 25,3 milyar TL&#8217;ye; 783 milyon TL olan k\u0131sa vadeli t\u00fcrev y\u00fck\u00fcml\u00fcl\u00fckleri ise 61,8 milyar TL&#8217;ye y\u00fckselmi\u015ftir. Bu art\u0131\u015flar b\u00fcy\u00fck \u00f6l\u00e7\u00fcde nakit ak\u0131\u015f riskinden korunma ama\u00e7l\u0131 yap\u0131lan i\u015flemlerden kaynaklanmaktad\u0131r.<\/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>VI. Personel ve Organizasyon<\/h2>\n<ul>\n<li><b>\u0130stihdam:<\/b> 31 Mart 2026 itibar\u0131yla ortalama personel say\u0131s\u0131 6.374&#8217;e y\u00fckselmi\u015ftir (2025&#8217;in ayn\u0131 d\u00f6neminde 6.167).<\/li>\n<li><b>Ortakl\u0131k Yap\u0131s\u0131:<\/b> \u015eirketin %46,40&#8217;\u0131 Enerji Yat\u0131r\u0131mlar\u0131 A.\u015e.&#8217;ye ait olup, %48,85&#8217;lik k\u0131s\u0131m halka a\u00e7\u0131k stat\u00fcdedir. \u015eirket nihai olarak Ko\u00e7 Holding ve Ko\u00e7 Ailesi \u00fcyeleri taraf\u0131ndan kontrol edilmektedir.<\/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<p><i>Bu belge, sa\u011flanan \u00f6zet konsolide finansal tablolar ve dipnotlardaki veriler esas al\u0131narak haz\u0131rlanm\u0131\u015ft\u0131r.<\/i><\/p>\n<button class=\"simplefavorite-button\" data-postid=\"2413\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>T\u00fcpra\u015f 2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011fine dair merakla beklenen finansal sonu\u00e7lar\u0131n\u0131 a\u00e7\u0131klad\u0131. Enflasyon muhasebesi uygulanm\u0131\u015f verilere g\u00f6re enerji devinin has\u0131lat ve net kar rakamlar\u0131nda ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine oranla \u00e7ok g\u00fc\u00e7l\u00fc bir ivmelenme g\u00f6r\u00fcl\u00fcyor. Yat\u0131r\u0131mc\u0131lar i\u00e7in kritik \u00f6neme sahip 33 milyar TL&#8217;lik temett\u00fc da\u011f\u0131t\u0131m karar\u0131 ve operasyonel performans\u0131n detaylar\u0131n\u0131 i\u00e7eren bu analizimiz T\u00fcpra\u015f&#8217;\u0131n 2026 y\u0131l\u0131 yol haritas\u0131na \u0131\u015f\u0131k tutuyor<\/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":[210],"class_list":["post-2413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-tuprs"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2413","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=2413"}],"version-history":[{"count":1,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2413\/revisions"}],"predecessor-version":[{"id":2414,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2413\/revisions\/2414"}],"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=2413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=2413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=2413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}