{"id":2510,"date":"2026-06-09T08:29:13","date_gmt":"2026-06-09T05:29:13","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=2510"},"modified":"2026-06-09T08:29:58","modified_gmt":"2026-06-09T05:29:58","slug":"doas-2026-03-faaliyet-raporu-analizi-dou-otomotiv-servis-ve-ticaret-a","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/2510","title":{"rendered":"\ud83d\udd35 DOAS 2026-03 Faaliyet Raporu Analizi | Do\u011fu\u015f Otomotiv Servis ve Ticaret A.\u015e."},"content":{"rendered":"<h1>Do\u011fu\u015f Otomotiv 2026 Y\u0131l\u0131 Birinci \u00c7eyrek Faaliyet Raporu Brifing Notu<\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu belge, Do\u011fu\u015f Otomotiv Servis ve Ticaret A.\u015e.&#8217;nin (DOA\u015e) 31 Mart 2026 tarihinde sona eren \u00fc\u00e7 ayl\u0131k d\u00f6neme ili\u015fkin faaliyetlerini, finansal performans\u0131n\u0131 ve stratejik giri\u015fimlerini analiz etmektedir. 2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011fi, \u015firketin pazar pay\u0131n\u0131 art\u0131rd\u0131\u011f\u0131 ancak makroekonomik etkiler nedeniyle k\u00e2rl\u0131l\u0131k marjlar\u0131nda bir daralma ya\u015fad\u0131\u011f\u0131 bir d\u00f6nem olarak \u00f6ne \u00e7\u0131kmaktad\u0131r.<\/p>\n<p><b>Kritik \u00c7\u0131kar\u0131mlar:<\/b><\/p>\n<ul>\n<li><b>Finansal Performans:<\/b> 2026&#8217;n\u0131n ilk \u00e7eyre\u011finde has\u0131lat, bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re %10 azalarak 49,6 milyar TL seviyesinde ger\u00e7ekle\u015fmi\u015ftir. Net k\u00e2r ise %25 azal\u0131\u015fla 564 milyon TL olmu\u015ftur.<\/li>\n<li><b>Pazar Konumu:<\/b> Toplam otomotiv pazar\u0131 %3 daral\u0131rken, Do\u011fu\u015f Otomotiv (Skoda hari\u00e7) sat\u0131\u015f adetlerini %8 art\u0131rarak 32.380 adede \u00e7\u0131karm\u0131\u015f, pazar\u0131n \u00fczerinde bir performans sergilemi\u015ftir.<\/li>\n<li><b>Temett\u00fc Karar\u0131:<\/b> 26 Mart 2026 tarihli Genel Kurul&#8217;da, toplam 6,6 milyar TL tutar\u0131nda nakit temett\u00fcn\u00fcn iki e\u015fit taksitte da\u011f\u0131t\u0131lmas\u0131 kararla\u015ft\u0131r\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>Dijital ve Teknolojik D\u00f6n\u00fc\u015f\u00fcm:<\/b> \u015eirket, Yapay Zek\u00e2 M\u00fckemmeliyet Merkezi&#8217;ni (AI CoE) kurmu\u015f ve 2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011finde 39 dijital projeyi tamamlam\u0131\u015ft\u0131r.<\/li>\n<li><b>S\u00fcrd\u00fcr\u00fclebilirlik Liderli\u011fi:<\/b> T\u00fcrkiye S\u00fcrd\u00fcr\u00fclebilirlik Standartlar\u0131 (TSRS) ve Avrupa S\u00fcrd\u00fcr\u00fclebilirlik Raporlama Standartlar\u0131 (ESRS) ile tam uyumlu raporlama s\u00fcre\u00e7leri devam etmektedir.<\/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>1. Kurumsal Yap\u0131 ve Y\u00f6netim<\/h2>\n<h3>Ortakl\u0131k Yap\u0131s\u0131 ve Sermaye<\/h3>\n<p>\u015eirketin \u00f6denmi\u015f sermayesi 220.000.000 TL olup, kay\u0131tl\u0131 sermaye tavan\u0131 1.000.000.000 TL&#8217;dir. Sermaye yap\u0131s\u0131 \u015fu \u015fekildedir:<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Ortak \u00dcnvan\u0131<\/td>\n<td>Pay Tutar\u0131 (TL)<\/td>\n<td>Pay Oran\u0131 (%)<\/td>\n<\/tr>\n<tr>\n<td>Do\u011fu\u015f Holding A.\u015e.<\/td>\n<td>133.099.708<\/td>\n<td>60,50<\/td>\n<\/tr>\n<tr>\n<td>Do\u011fu\u015f Sigorta Arac\u0131l\u0131k Hizmetleri A.\u015e.<\/td>\n<td>292<\/td>\n<td>0,00<\/td>\n<\/tr>\n<tr>\n<td>Di\u011fer (Halka A\u00e7\u0131k)<\/td>\n<td>86.900.000<\/td>\n<td>39,50<\/td>\n<\/tr>\n<tr>\n<td><b>TOPLAM<\/b><\/td>\n<td><b>220.000.000<\/b><\/td>\n<td><b>100,00<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>Y\u00f6netim Kurulu ve \u00dcst Y\u00f6netim<\/h3>\n<p>26 Mart 2026 tarihinde yap\u0131lan Genel Kurul ile Y\u00f6netim Kurulu \u00fcyeleri 1 y\u0131l s\u00fcreyle se\u00e7ilmi\u015ftir. Emir Ali Bilalo\u011flu, Y\u00f6netim Kurulu Ba\u015fkan\u0131 ve \u0130cra Kurulu Ba\u015fkan\u0131 (CEO) olarak g\u00f6revine devam etmektedir. Ba\u011f\u0131ms\u0131z y\u00f6netim kurulu \u00fcyeleri Adnan Memi\u015f ve Osman Cem Yurtbay&#8217;d\u0131r. \u00dcst y\u00f6netime ve idari sorumlulu\u011fu bulunan ki\u015filere sa\u011flanan mali haklar toplam\u0131 617,8 milyon TL olarak ger\u00e7ekle\u015fmi\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>2. Operasyonel Performans ve Sat\u0131\u015f Faaliyetleri<\/h2>\n<p>Do\u011fu\u015f Otomotiv, 18 uluslararas\u0131 marka ve 19 \u00fcr\u00fcn grubunu temsil eden geni\u015f bir portf\u00f6ye sahiptir. 2026 y\u0131l\u0131 itibar\u0131yla Linssen Yachts markas\u0131n\u0131n distrib\u00fct\u00f6rl\u00fc\u011f\u00fc de \u00fcstlenilmi\u015ftir.<\/p>\n<h3>Sat\u0131\u015f Verileri (31 Mart 2026 itibar\u0131yla)<\/h3>\n<ul>\n<li><b>Toplam Pazar Sat\u0131\u015flar\u0131:<\/b> 280.387 adet (Ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re %3 azal\u0131\u015f).<\/li>\n<li><b>DOA\u015e Sat\u0131\u015f Adetleri (Skoda hari\u00e7):<\/b> 32.380 adet (Ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re %8 art\u0131\u015f).<\/li>\n<li><b>M\u00fc\u015fteri Hizmet Noktas\u0131:<\/b> T\u00fcrkiye genelinde 750&#8217;den fazla yetkili sat\u0131c\u0131 ve servis noktas\u0131.<\/li>\n<\/ul>\n<h3>Portf\u00f6y \u00c7e\u015fitlili\u011fi<\/h3>\n<p>\u015eirket sadece ara\u00e7 ithalat\u0131 ve distrib\u00fct\u00f6rl\u00fc\u011f\u00fc ile s\u0131n\u0131rl\u0131 kalmay\u0131p; t\u00fcketici finansman\u0131, filo kiralama, lojistik, ikinci el ara\u00e7 sat\u0131\u015f\u0131 (DOD), ara\u00e7 muayene (T\u00dcVTURK) ve \u015farj sistemleri (Do\u011fu\u015f \u015earj Sistemleri) gibi otomotiv de\u011fer zincirinin her halkas\u0131nda faaliyet 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>3. Finansal Durum Analizi<\/h2>\n<p>Finansal g\u00f6stergeler, 31 Mart 2026 sat\u0131n al\u0131m g\u00fcc\u00fcne g\u00f6re konsolide olarak sunulmu\u015ftur.<\/p>\n<h3>\u00d6zet Gelir Tablosu Kar\u015f\u0131la\u015ft\u0131rmas\u0131<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Bin TL, SPK<\/td>\n<td>31 Mart 2026<\/td>\n<td>31 Mart 2025<\/td>\n<td>De\u011fi\u015fim (%)<\/td>\n<\/tr>\n<tr>\n<td>Has\u0131lat<\/td>\n<td>49.622.082<\/td>\n<td>55.015.333<\/td>\n<td>-10<\/td>\n<\/tr>\n<tr>\n<td>Br\u00fct K\u00e2r<\/td>\n<td>6.599.997<\/td>\n<td>8.895.823<\/td>\n<td>-26<\/td>\n<\/tr>\n<tr>\n<td>Esas Faaliyet K\u00e2r\u0131<\/td>\n<td>2.304.904<\/td>\n<td>3.617.575<\/td>\n<td>-36<\/td>\n<\/tr>\n<tr>\n<td>Net K\u00e2r<\/td>\n<td>564.104<\/td>\n<td>747.171<\/td>\n<td>-25<\/td>\n<\/tr>\n<tr>\n<td>Br\u00fct K\u00e2r Marj\u0131<\/td>\n<td>%13,30<\/td>\n<td>%16,17<\/td>\n<td>-18<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>Bilan\u00e7o ve Likidite Durumu<\/h3>\n<ul>\n<li><b>Toplam Varl\u0131klar:<\/b> 144,4 milyar TL (2025 sonuna g\u00f6re %1 art\u0131\u015f).<\/li>\n<li><b>\u00d6zkaynaklar:<\/b> 68,8 milyar TL (%8 azal\u0131\u015f &#8211; temett\u00fc kar\u015f\u0131l\u0131klar\u0131 etkisiyle).<\/li>\n<li><b>Net Bor\u00e7 Pozisyonu:<\/b> 27,6 milyar TL seviyesinde yatay bir seyir izlemektedir.<\/li>\n<li><b>Yat\u0131r\u0131mlar:<\/b> D\u00f6nem i\u00e7inde maddi ve maddi olmayan duran varl\u0131klara 738,3 milyon TL yat\u0131r\u0131m yap\u0131lm\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>4. Dijital D\u00f6n\u00fc\u015f\u00fcm ve Teknoloji Stratejisi<\/h2>\n<p>Do\u011fu\u015f Otomotiv, dijitalle\u015fmeyi operasyonel m\u00fckemmellik ve m\u00fc\u015fteri deneyimi odakl\u0131 stratejik bir kald\u0131ra\u00e7 olarak konumland\u0131rmaktad\u0131r.<\/p>\n<ul>\n<li><b>Proje Kazan\u0131mlar\u0131:<\/b> 2025 y\u0131l\u0131 sonunda tamamlanacak 133 proje ile 257 milyon TL kazan\u0131m hedeflenirken, 2026&#8217;n\u0131n ilk \u00e7eyre\u011finde 39 proje ba\u015far\u0131yla tamamlanm\u0131\u015ft\u0131r.<\/li>\n<li><b>Yapay Zek\u00e2 (AI):<\/b> 2025 y\u0131l\u0131nda kurulan &#8220;Yapay Zek\u00e2 M\u00fckemmeliyet Merkezi (AI CoE)&#8221; arac\u0131l\u0131\u011f\u0131yla \u00fcretken yapay zek\u00e2 (GenAI) ve makine \u00f6\u011frenmesi projeleri kurumsal standartlara ta\u015f\u0131nm\u0131\u015ft\u0131r. \u0130ki y\u0131ll\u0131k bir AI proje yol haritas\u0131 (AI Impact) olu\u015fturulmu\u015ftur.<\/li>\n<li><b>Bilgi G\u00fcvenli\u011fi:<\/b> ISO 27001:2022 sertifikas\u0131n\u0131n yan\u0131 s\u0131ra, Alman Otomotiv End\u00fcstrisi standard\u0131 olan <b>TISAX<\/b> sertifikas\u0131 ile bilgi g\u00fcvenli\u011fi s\u00fcre\u00e7leri uluslararas\u0131 d\u00fczeyde tescillenmi\u015ftir.<\/li>\n<li><b>Dijital Yetkinlik:<\/b> GO-DGTL Akademi \u00fczerinden \u00e7al\u0131\u015fanlara veri bilimi, RPA ve yapay zek\u00e2 e\u011fitimleri verilmeye devam 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<h2>5. S\u00fcrd\u00fcr\u00fclebilirlik ve Kurumsal Y\u00f6neti\u015fim<\/h2>\n<p>\u015eirket, s\u00fcrd\u00fcr\u00fclebilirlik performans\u0131n\u0131 uluslararas\u0131 standartlarla uyumlu bir \u015fekilde raporlamaktad\u0131r.<\/p>\n<ul>\n<li><b>Uyum Standartlar\u0131:<\/b> 2024 Entegre S\u00fcrd\u00fcr\u00fclebilirlik Raporu, ESRS g\u00f6stergelerine uygun olarak haz\u0131rlanm\u0131\u015f olup, TSRS uyumlu raporlama s\u00fcreci 2026&#8217;n\u0131n ilk \u00e7eyre\u011finde ba\u015flat\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>\u00c7evresel Etki:<\/b> Kapsam 1-2-3 emisyonlar\u0131 d\u00fczenli olarak beyan edilmektedir. 2025 y\u0131l\u0131nda &#8220;S\u0131f\u0131r At\u0131k Belgesi&#8221; al\u0131nm\u0131\u015f ve su ayak izi raporlamas\u0131 (ISO 14046) kapsam\u0131na girilmi\u015ftir.<\/li>\n<li><b>Tedarik Zinciri:<\/b> 125 kritik tedarik\u00e7inin %50&#8217;den fazlas\u0131 s\u00fcrd\u00fcr\u00fclebilirlik riskleri kapsam\u0131nda denetlenmi\u015ftir. &#8220;Tedarik\u00e7i Etik Kodu&#8221; \u00e7al\u0131\u015fmalar\u0131 ba\u015flat\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>Endeksler:<\/b> \u015eirket; BIST S\u00fcrd\u00fcr\u00fclebilirlik, BIST S\u00fcrd\u00fcr\u00fclebilirlik 25, BIST Temett\u00fc ve BIST 50 endekslerinde yer almaya devam etmektedir.<\/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>6. Entegre Y\u00f6netim Sistemi ve Risk Y\u00f6netimi<\/h2>\n<p>Do\u011fu\u015f Otomotiv, kalite, \u00e7evre, i\u015f sa\u011fl\u0131\u011f\u0131 ve g\u00fcvenli\u011fi, enerji ve bilgi g\u00fcvenli\u011fi risklerini entegre bir modelle y\u00f6netmektedir.<\/p>\n<ul>\n<li><b>Bayi A\u011f\u0131 Denetimleri:<\/b> Volkswagen AG ISO 9001 denetimlerinde %96, bilgi g\u00fcvenli\u011fi denetimlerinde ise %97 ba\u015far\u0131 oran\u0131 yakalanm\u0131\u015ft\u0131r. 2026&#8217;da devreye al\u0131nan VISAR denetimlerinde %100 ba\u015far\u0131 sa\u011flanm\u0131\u015ft\u0131r.<\/li>\n<li><b>Risk Y\u00f6netimi:<\/b> Riskin Erken Saptanmas\u0131 Komitesi arac\u0131l\u0131\u011f\u0131yla finansal, operasyonel, stratejik ve itibar riskleri sistematik olarak takip 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<h2>7. 2026 Y\u0131l\u0131 Beklentileri<\/h2>\n<p>\u015eirket y\u00f6netimi, 2026 y\u0131l\u0131n\u0131n geri kalan\u0131 i\u00e7in ihtiyatl\u0131 ancak iyimser bir yakla\u015f\u0131m sergilemektedir:<\/p>\n<ul>\n<li><b>Yurt \u0130\u00e7i Toplam Pazar:<\/b> 1,2 milyon adet sat\u0131\u015f \u00f6ng\u00f6r\u00fclmektedir.<\/li>\n<li><b>DOA\u015e Sat\u0131\u015f Hedefi:<\/b> Yakla\u015f\u0131k 117 bin adet (Skoda hari\u00e7).<\/li>\n<li><b>Yat\u0131r\u0131m Plan\u0131:<\/b> Dijitalle\u015fme, mobilite ve s\u00fcrd\u00fcr\u00fclebilirlik odakl\u0131 projelere yakla\u015f\u0131k <b>5,2 milyar TL<\/b> yat\u0131r\u0131m yap\u0131lmas\u0131 planlanmaktad\u0131r.<\/li>\n<li><b>Stratejik Odak:<\/b> K\u00e2rl\u0131l\u0131k ve pazar pay\u0131 dengesinin korunmas\u0131, tedbirli gider y\u00f6netimi ve elektrifikasyon projelerine \u00f6ncelik verilmesi hedeflenmektedir.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Do\u011fu\u015f Otomotiv Servis ve Ticaret A.\u015e. i\u00e7in 08 Haziran 2026 itibar\u0131yla payla\u015f\u0131lan 182,20 TL hisse fiyat\u0131 ve 2026 y\u0131l\u0131n\u0131n ilk \u00e7eyrek faaliyet raporu verileri \u0131\u015f\u0131\u011f\u0131nda haz\u0131rlanan finansal analiz ve oranlar a\u015fa\u011f\u0131da yer almaktad\u0131r<\/p>\n<p><strong>Hesaplanan Kritik Finansal Oranlar ve Veriler<\/strong><\/p>\n<ul>\n<li><strong>Piyasa De\u011feri:<\/strong> 40.084.000.000 TL (182,20 TL x 220.000.000 toplam hisse adedi)<\/li>\n<li><strong>Net D\u00f6nem Kar\u0131 (2026 Q1):<\/strong> 564.104.000 TL<\/li>\n<li><strong>Y\u0131ll\u0131k Net Kar De\u011fi\u015fimi:<\/strong> -%25 (Ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemindeki 747,1 Milyon TL&#8217;ye g\u00f6re)<\/li>\n<li><strong>Fiyat\/Kazan\u00e7 (F\/K) Oran\u0131:<\/strong> 17,76 (2026 ilk \u00e7eyrek kar\u0131n\u0131n y\u0131ll\u0131kland\u0131r\u0131lm\u0131\u015f bazda 2,25 Milyar TL olaca\u011f\u0131 varsay\u0131m\u0131yla)<\/li>\n<li><strong>Defter De\u011feri:<\/strong> 312,98 TL (68.855.302.000 TL toplam \u00f6zkaynak \/ 220.000.000 hisse)<\/li>\n<li><strong>Piyasa De\u011feri \/ Defter De\u011feri (PD\/DD):<\/strong> 0,58<\/li>\n<li><strong>Net Bor\u00e7:<\/strong> 27.581.721.000 TL (Nette bor\u00e7lu pozisyon)<\/li>\n<li><strong>Firma De\u011feri:<\/strong> 67.665.721.000 TL (Piyasa De\u011feri + Net Bor\u00e7)<\/li>\n<li><strong>\u00d6zkaynak Karl\u0131l\u0131\u011f\u0131 (ROE &#8211; \u00c7eyreklik):<\/strong> %0,82<\/li>\n<\/ul>\n<p><strong>De\u011fi\u015fim Analizi ve Finansal Tart\u0131\u015fma<\/strong><\/p>\n<ul>\n<li><strong>De\u011ferleme Analizi (PD\/DD ve F\/K):<\/strong> \u015eirket 182,20 TL&#8217;lik fiyat\u0131yla 312,98 TL olan defter de\u011ferinin olduk\u00e7a alt\u0131nda, yani <strong>0,58 PD\/DD<\/strong> oran\u0131yla i\u015flem g\u00f6rmektedir Bu durum piyasan\u0131n \u015firketin varl\u0131klar\u0131n\u0131 maliyet de\u011ferinin yakla\u015f\u0131k %42 alt\u0131nda fiyatlad\u0131\u011f\u0131n\u0131 g\u00f6stermektedir Ancak y\u0131ll\u0131kland\u0131r\u0131lm\u0131\u015f F\/K oran\u0131n\u0131n 17,76 seviyesine y\u00fckselmesi, net kardaki %25&#8217;lik d\u00fc\u015f\u00fc\u015f\u00fcn piyasa taraf\u0131ndan risk olarak alg\u0131land\u0131\u011f\u0131na i\u015faret etmektedir<\/li>\n<li><strong>Net Bor\u00e7 ve Finansman Yap\u0131s\u0131:<\/strong> \u015eirketin toplam 144,4 Milyar TL&#8217;lik varl\u0131klar\u0131n\u0131n yakla\u015f\u0131k <strong>%47,7&#8217;si \u00f6zkaynaklar<\/strong> ile, <strong>%52,3&#8217;\u00fc ise bor\u00e7lar ve y\u00fck\u00fcml\u00fcl\u00fckler<\/strong> ile finanse edilmektedir Finansal bor\u00e7lar bir \u00f6nceki y\u0131l sonuna g\u00f6re %3 azalarak 32,8 Milyar TL&#8217;ye gerilese de nakit varl\u0131klardaki %15&#8217;lik d\u00fc\u015f\u00fc\u015f nedeniyle net bor\u00e7 pozisyonu 27,5 Milyar TL seviyesinde yatay kalm\u0131\u015ft\u0131r<\/li>\n<li><strong>Karl\u0131l\u0131k ve Sat\u0131\u015f Performans\u0131:<\/strong> Has\u0131lat\u0131n y\u0131ll\u0131k bazda %10, br\u00fct kar\u0131n ise %26 oran\u0131nda gerilemesi operasyonel marjlarda bask\u0131 oldu\u011funu kan\u0131tlamaktad\u0131r Br\u00fct kar marj\u0131 %16,17&#8217;den %13,30&#8217;a d\u00fc\u015ferken, esas faaliyet kar\u0131ndaki %36&#8217;l\u0131k sert d\u00fc\u015f\u00fc\u015f maliyet y\u00f6netiminin zorla\u015ft\u0131\u011f\u0131n\u0131 g\u00f6stermektedir Buna ra\u011fmen toplam otomotiv pazar\u0131n\u0131n %3 darald\u0131\u011f\u0131 bir ortamda \u015firketin sat\u0131\u015f adetlerini %8 art\u0131rmas\u0131 pazar pay\u0131 kazan\u0131m\u0131 a\u00e7\u0131s\u0131ndan pozitif bir ayr\u0131\u015fmad\u0131r<\/li>\n<li><strong>\u00d6zkaynaklardaki De\u011fi\u015fim:<\/strong> \u00d6zkaynaklar 2025 y\u0131l sonuna g\u00f6re %8 azalm\u0131\u015ft\u0131r Bu d\u00fc\u015f\u00fc\u015f\u00fcn temel nedeni operasyonel bir kay\u0131p de\u011fil, Mart 2026&#8217;da genel kurulda kararla\u015ft\u0131r\u0131lan ve \u015firketin kasas\u0131ndan nakit \u00e7\u0131k\u0131\u015f\u0131na yol a\u00e7acak olan <strong>6,6 Milyar TL&#8217;lik dev temett\u00fc<\/strong> \u00f6demesidir<\/li>\n<li><strong>Di\u011fer \u00d6nemli Oranlar:<\/strong> \u015eirketin net kar marj\u0131 %1,36&#8217;dan %1,14&#8217;e gerilemi\u015ftir Bu d\u00fc\u015f\u00fck marj yap\u0131s\u0131 otomotiv ithalat\u00e7\u0131s\u0131 kimli\u011fi ve y\u00fcksek finansman giderlerinden kaynaklanmaktad\u0131r Yat\u0131r\u0131mc\u0131lar i\u00e7in en kritik veri 5,2 Milyar TL&#8217;lik dev CAPEX (Yat\u0131r\u0131m Harcamas\u0131) hedefidir; bu yat\u0131r\u0131m\u0131n dijitalle\u015fme ve mobilite alan\u0131nda orta vadede verimlili\u011fi art\u0131rmas\u0131 beklenmektedir<\/li>\n<\/ul>\n<button class=\"simplefavorite-button\" data-postid=\"2510\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>Do\u011fu\u015f Otomotiv 2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011fine dair finansal ve operasyonel sonu\u00e7lar\u0131n\u0131 a\u00e7\u0131klad\u0131. Pazardaki daralmaya ra\u011fmen sergilenen %8&#8217;lik sat\u0131\u015f art\u0131\u015f\u0131 ve 5,2 milyar TL&#8217;lik dev yat\u0131r\u0131m plan\u0131 \u015firketin gelecek vizyonunu ortaya koyuyor. \u00d6zellikle yapay zeka ve dijitalle\u015fme hamleleriyle dikkat \u00e7eken raporda, temett\u00fc \u00f6demelerinden 2026 sonu pazar beklentilerine kadar yat\u0131r\u0131mc\u0131lar i\u00e7in kritik veriler yer al\u0131yor. Otomotiv sekt\u00f6r\u00fcndeki d\u00f6n\u00fc\u015f\u00fcm\u00fc ve Do\u011fu\u015f Otomotiv&#8217;in bu s\u00fcre\u00e7teki stratejik ad\u0131mlar\u0131n\u0131 blog yaz\u0131m\u0131zda detayland\u0131r\u0131yoruz<\/p>\n","protected":false},"author":4,"featured_media":1297,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[251],"tags":[276],"class_list":["post-2510","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-faaliyetraporuanalizi","tag-doas"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2510","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\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/comments?post=2510"}],"version-history":[{"count":1,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2510\/revisions"}],"predecessor-version":[{"id":2511,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2510\/revisions\/2511"}],"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=2510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=2510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=2510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}