{"id":2540,"date":"2026-06-19T20:45:43","date_gmt":"2026-06-19T17:45:43","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=2540"},"modified":"2026-06-19T21:42:19","modified_gmt":"2026-06-19T18:42:19","slug":"bilano-analizi-copy-4","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/2540","title":{"rendered":"Sabanc\u0131 Holding Finansal Sonu\u00e7lar 2026 Yeni Y\u00f6netim ve Portf\u00f6y D\u00f6n\u00fc\u015f\u00fcm\u00fc"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"SAHOL 2026 \u0130lk \u00c7eyrek Raporu Carrefoursa ve Ak\u00e7ansa Pay Devri S\u00fcreci (Sabanc\u0131 Holding&amp;apos;in zarardan...\" width=\"858\" height=\"644\" src=\"https:\/\/www.youtube.com\/embed\/UQncIthPQJA?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>Hac\u0131 \u00d6mer Sabanc\u0131 Holding A.\u015e. 2026 Birinci \u00c7eyrek Finansal ve Operasyonel De\u011ferlendirme Raporu<\/h1>\n<p>Bu bilgilendirme dok\u00fcman\u0131, Hac\u0131 \u00d6mer Sabanc\u0131 Holding A.\u015e.&#8217;nin (Sabanc\u0131 Holding) 1 Ocak \u2013 31 Mart 2026 ara hesap d\u00f6nemine ait \u00f6zet konsolide finansal tablolar\u0131n\u0131 ve faaliyet sonu\u00e7lar\u0131n\u0131 analiz etmektedir. Dok\u00fcman, grubun finansal pozisyonunu, operasyonel performans\u0131n\u0131 ve stratejik segment de\u011fi\u015fimlerini temel kaynak veriler \u0131\u015f\u0131\u011f\u0131nda sentezlemektedir.<\/p>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Sabanc\u0131 Holding, 2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011finde y\u00fcksek enflasyonlu ekonomi ko\u015fullar\u0131 alt\u0131nda operasyonel karl\u0131l\u0131\u011f\u0131n\u0131 art\u0131rm\u0131\u015f ve bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re net d\u00f6nem kar\u0131nda iyile\u015fme sa\u011flam\u0131\u015ft\u0131r. 31 Mart 2026 itibar\u0131yla ana ortakl\u0131k pay\u0131na d\u00fc\u015fen net d\u00f6nem kar\u0131 <b>317,5 milyon TL<\/b> olarak ger\u00e7ekle\u015fmi\u015ftir (2025 Q1: 3,8 milyar TL zarar).<\/p>\n<p>Grubun toplam varl\u0131klar\u0131, 2025 y\u0131l sonuna g\u00f6re s\u0131n\u0131rl\u0131 bir daralma ile <b>4,23 trilyon TL<\/b> seviyesinde ger\u00e7ekle\u015fmi\u015ftir. Finansal tablolar\u0131n haz\u0131rlanmas\u0131nda TMS 29 (Y\u00fcksek Enflasyonlu Ekonomilerde Finansal Raporlama) standartlar\u0131 uygulanm\u0131\u015f, veriler 31 Mart 2026 tarihli al\u0131m g\u00fcc\u00fcyle ifade edilmi\u015ftir. D\u00f6nem i\u00e7erisinde y\u00f6netim kurulu ba\u015fkanl\u0131\u011f\u0131 seviyesinde \u00f6nemli bir liderlik de\u011fi\u015fimi ya\u015fanm\u0131\u015f ve grup, stratejik odak noktalar\u0131na g\u00f6re segment yap\u0131s\u0131nda g\u00fcncellemeler yapm\u0131\u015ft\u0131r.<\/p>\n<h2>1. Kurumsal Yap\u0131 ve Y\u00f6netimsel De\u011fi\u015fiklikler<\/h2>\n<h3>Liderlik De\u011fi\u015fimi<\/h3>\n<p>Sabanc\u0131 Holding y\u00f6netiminde kritik bir bayrak de\u011fi\u015fimi ger\u00e7ekle\u015fmi\u015ftir. 27 Mart 2025 tarihli Ola\u011fan Genel Kurul itibar\u0131yla, Y\u00f6netim Kurulu Ba\u015fkanl\u0131\u011f\u0131 g\u00f6revini y\u00fcr\u00fcten <b>G\u00fcler Sabanc\u0131<\/b> g\u00f6revinden ayr\u0131lm\u0131\u015ft\u0131r. Yeni Y\u00f6netim Kurulu Ba\u015fkan\u0131 ve Murahhas \u00dcye olarak <b>Hayri \u00c7ulhac\u0131<\/b> atanm\u0131\u015ft\u0131r.<\/p>\n<h3>Ortakl\u0131k Yap\u0131s\u0131<\/h3>\n<p>31 Mart 2026 itibar\u0131yla Holding&#8217;in ortakl\u0131k yap\u0131s\u0131 \u015fu \u015fekildedir:<\/p>\n<ul>\n<li><b>Sak\u0131p Sabanc\u0131 Holding A.\u015e.:<\/b> %13,90<\/li>\n<li><b>Serra Sabanc\u0131:<\/b> %7,02<\/li>\n<li><b>Suzan Sabanc\u0131 Sabanc\u0131:<\/b> %6,84<\/li>\n<li><b>\u00c7i\u011fdem Sabanc\u0131:<\/b> %6,84<\/li>\n<li><b>Di\u011fer (Halka A\u00e7\u0131k vb.):<\/b> %65,40<\/li>\n<\/ul>\n<h3>\u0130stihdam<\/h3>\n<p>Grubun toplam \u00e7al\u0131\u015fan say\u0131s\u0131 31 Mart 2026 itibar\u0131yla <b>60.769<\/b> ki\u015fidir (2025 sonu: 62.962).<\/p>\n<h2>2. Finansal Durum Analizi<\/h2>\n<p>Grubun bilan\u00e7osu, bankac\u0131l\u0131k ve finans d\u0131\u015f\u0131 sekt\u00f6rlerin birle\u015fiminden olu\u015fmakta olup y\u00fcksek enflasyon d\u00fczeltmelerine tabi tutulmu\u015ftur.<\/p>\n<h3>Konsolide Bilan\u00e7o \u00d6zeti (Bin TL)<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem<\/td>\n<td>31 Mart 2026<\/td>\n<td>31 Aral\u0131k 2025<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Varl\u0131klar<\/b><\/td>\n<td><b>4.234.605.256<\/b><\/td>\n<td><b>4.513.159.573<\/b><\/td>\n<\/tr>\n<tr>\n<td>D\u00f6nen Varl\u0131klar<\/td>\n<td>2.441.371.306<\/td>\n<td>2.621.332.421<\/td>\n<\/tr>\n<tr>\n<td>Duran Varl\u0131klar<\/td>\n<td>1.793.233.950<\/td>\n<td>1.891.827.152<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Kaynaklar<\/b><\/td>\n<td><b>4.234.605.256<\/b><\/td>\n<td><b>4.513.159.573<\/b><\/td>\n<\/tr>\n<tr>\n<td>K\u0131sa Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler<\/td>\n<td>3.077.932.319<\/td>\n<td>3.329.852.862<\/td>\n<\/tr>\n<tr>\n<td>Uzun Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler<\/td>\n<td>530.820.496<\/td>\n<td>519.469.990<\/td>\n<\/tr>\n<tr>\n<td><b>\u00d6zkaynaklar<\/b><\/td>\n<td><b>625.852.441<\/b><\/td>\n<td><b>663.836.721<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Varl\u0131k Da\u011f\u0131l\u0131m\u0131 ve Likidite:<\/b><\/p>\n<ul>\n<li><b>Finans Sekt\u00f6r\u00fc Alacaklar\u0131:<\/b> 2,0 trilyon TL ile toplam varl\u0131klar\u0131n en b\u00fcy\u00fck kalemini olu\u015fturmaktad\u0131r.<\/li>\n<li><b>Nakit ve Nakit Benzerleri:<\/b> 153,7 milyar TL seviyesindedir.<\/li>\n<li><b>TCMB Hesab\u0131:<\/b> 477,3 milyar TL tutar\u0131nda zorunlu kar\u015f\u0131l\u0131klar ve serbest hesaplar bulunmaktad\u0131r.<\/li>\n<\/ul>\n<h2>3. Operasyonel Performans<\/h2>\n<p>Holding, 2026 y\u0131l\u0131n\u0131n ilk \u00fc\u00e7 ay\u0131nda br\u00fct karl\u0131l\u0131\u011f\u0131n\u0131 art\u0131rmay\u0131 ba\u015farm\u0131\u015ft\u0131r.<\/p>\n<h3>Kar veya Zarar Tablosu \u00d6zeti (Bin TL)<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem<\/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>Has\u0131lat (Net)<\/td>\n<td>63.382.694<\/td>\n<td>66.394.572<\/td>\n<\/tr>\n<tr>\n<td>Finans Sekt\u00f6r\u00fc Br\u00fct Kar\u0131<\/td>\n<td>67.272.059<\/td>\n<td>61.149.480<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Br\u00fct Kar<\/b><\/td>\n<td><b>76.849.600<\/b><\/td>\n<td><b>71.553.176<\/b><\/td>\n<\/tr>\n<tr>\n<td>Faaliyet Kar\u0131<\/td>\n<td>27.161.369<\/td>\n<td>23.993.371<\/td>\n<\/tr>\n<tr>\n<td>Vergi \u00d6ncesi Kar \/ (Zarar)<\/td>\n<td>9.863.684<\/td>\n<td>2.235.034<\/td>\n<\/tr>\n<tr>\n<td><b>D\u00f6nem Kar\u0131 \/ (Zarar\u0131)<\/b><\/td>\n<td><b>30.614<\/b><\/td>\n<td><b>(5.846.602)<\/b><\/td>\n<\/tr>\n<tr>\n<td>Ana Ortakl\u0131k Paylar\u0131<\/td>\n<td>317.561<\/td>\n<td>(3.847.137)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Performans Notlar\u0131:<\/b><\/p>\n<ul>\n<li><b>Br\u00fct Karl\u0131l\u0131k:<\/b> Ticari ve finans sekt\u00f6r\u00fc faaliyetlerinden elde edilen toplam br\u00fct kar, ge\u00e7en y\u0131la oranla art\u0131\u015f g\u00f6stermi\u015ftir.<\/li>\n<li><b>Net Parasal Pozisyon Kayb\u0131:<\/b> TMS 29 uygulamas\u0131 nedeniyle 14 milyar TL tutar\u0131nda net parasal pozisyon kayb\u0131 kaydedilmi\u015ftir (\u00d6nceki y\u0131l: 18,9 milyar TL).<\/li>\n<li><b>\u00d6zkaynak Y\u00f6ntemiyle De\u011ferlenen Yat\u0131r\u0131mlar:<\/b> \u0130\u015f ortakl\u0131klar\u0131ndan gelen kar paylar\u0131 2,04 milyar TL ile karl\u0131l\u0131\u011fa pozitif katk\u0131 sa\u011flam\u0131\u015ft\u0131r (\u00d6nceki y\u0131l 653 milyon TL zarar).<\/li>\n<\/ul>\n<h2>4. Segment Bazl\u0131 Analiz ve Kombine Performans<\/h2>\n<p>Grup, 2025 y\u0131l\u0131 i\u00e7erisinde stratejik bir yeniden yap\u0131land\u0131rmaya giderek &#8220;Mobilite \u00c7\u00f6z\u00fcmleri&#8221; i\u015f kollar\u0131n\u0131 farkl\u0131 segmentlere da\u011f\u0131tm\u0131\u015ft\u0131r:<\/p>\n<ul>\n<li><b>Brisa:<\/b> Malzeme Teknolojileri segmentine,<\/li>\n<li><b>Temsa Ula\u015f\u0131m:<\/b> Enerji segmentine,<\/li>\n<li><b>Temsa Motorlu Ara\u00e7lar ve Teknosa:<\/b> Di\u011fer segmentine dahil edilmi\u015ftir.<\/li>\n<\/ul>\n<h3>Segment Kombine Kar\/Zarar \u00d6zeti (31 Mart 2026 &#8211; Bin TL)<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Segment<\/td>\n<td>Kombine Gelirler<\/td>\n<td>Kombine Vergi \u00d6ncesi Kar<\/td>\n<\/tr>\n<tr>\n<td><b>Bankac\u0131l\u0131k (Akbank)<\/b><\/td>\n<td>212.175.041<\/td>\n<td>9.647.101<\/td>\n<\/tr>\n<tr>\n<td><b>Enerji<\/b><\/td>\n<td>85.742.572<\/td>\n<td>10.894.492<\/td>\n<\/tr>\n<tr>\n<td><b>Malzeme Teknolojileri<\/b><\/td>\n<td>39.032.975<\/td>\n<td>2.012.554<\/td>\n<\/tr>\n<tr>\n<td><b>Finansal Hizmetler<\/b><\/td>\n<td>22.398.909<\/td>\n<td>280.887<\/td>\n<\/tr>\n<tr>\n<td><b>Dijital<\/b><\/td>\n<td>1.256.058<\/td>\n<td>(166.909)<\/td>\n<\/tr>\n<tr>\n<td><b>Di\u011fer<\/b><\/td>\n<td>52.418.093<\/td>\n<td>5.914.842<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Analiz:<\/b> Enerji segmenti kombine vergi \u00f6ncesi karda 10,9 milyar TL ile en y\u00fcksek katk\u0131y\u0131 sa\u011flarken, Dijital segmenti d\u00f6nemi zararla kapatm\u0131\u015ft\u0131r. Bankac\u0131l\u0131k segmenti grubun en b\u00fcy\u00fck gelir \u00fcreticisi olmaya devam etmektedir.<\/p>\n<h2>5. Finansal Raporlama ve Muhasebe Esaslar\u0131<\/h2>\n<h3>Enflasyon Muhasebesi (TMS 29)<\/h3>\n<p>SPK karar\u0131 uyar\u0131nca, 31 Mart 2026 tarihli finansal tablolar enflasyon muhasebesine g\u00f6re haz\u0131rlanm\u0131\u015ft\u0131r.<\/p>\n<ul>\n<li><b>Endeks Kullan\u0131m\u0131:<\/b> T\u00dc\u0130K taraf\u0131ndan yay\u0131mlanan T\u00fcketici Fiyat Endeksi (T\u00dcFE) esas al\u0131nm\u0131\u015ft\u0131r.<\/li>\n<li><b>D\u00fczeltme Katsay\u0131lar\u0131:<\/b> 31 Mart 2026 endeksi 3.866,67 olarak belirlenmi\u015f; 3 y\u0131ll\u0131k bile\u015fik enflasyon oran\u0131 %205 olarak hesaplanm\u0131\u015ft\u0131r.<\/li>\n<li><b>Uygulama:<\/b> Parasal olmayan kalemler (stoklar, maddi duran varl\u0131klar vb.) bilan\u00e7o tarihindeki sat\u0131n alma g\u00fcc\u00fcne getirilmi\u015f, parasal kalemler d\u00fczeltilmemi\u015ftir.<\/li>\n<\/ul>\n<h3>Finansal Ara\u00e7lar ve Riskler<\/h3>\n<ul>\n<li><b>T\u00fcrev Ara\u00e7lar:<\/b> 31 Mart 2026 itibar\u0131yla 76,9 milyar TL tutar\u0131nda t\u00fcrev varl\u0131k, 45,5 milyar TL tutar\u0131nda t\u00fcrev y\u00fck\u00fcml\u00fcl\u00fck bulunmaktad\u0131r.<\/li>\n<li><b>Kredi Risk Kar\u015f\u0131l\u0131\u011f\u0131:<\/b> Bankac\u0131l\u0131k end\u00fcstriyel b\u00f6l\u00fcm\u00fcnde ayr\u0131lan beklenen kredi zarar kar\u015f\u0131l\u0131\u011f\u0131 76,1 milyar TL d\u00fczeyindedir.<\/li>\n<\/ul>\n<h2>6. Nakit Ak\u0131\u015f Analizi<\/h2>\n<ul>\n<li><b>\u0130\u015fletme Faaliyetleri:<\/b> \u0130\u015fletme faaliyetlerinden sa\u011flanan nakit, ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemindeki 126,8 milyar TL seviyesinden <b>7,67 milyar TL<\/b> seviyesine gerilemi\u015ftir.<\/li>\n<li><b>Yat\u0131r\u0131m Faaliyetleri:<\/b> Maddi ve maddi olmayan duran varl\u0131k al\u0131mlar\u0131 i\u00e7in 9 milyar TL nakit \u00e7\u0131k\u0131\u015f\u0131 ger\u00e7ekle\u015fmi\u015ftir.<\/li>\n<li><b>Finansman Faaliyetleri:<\/b> 75,5 milyar TL bor\u00e7lanma giri\u015fi sa\u011flan\u0131rken, 11 milyar TL temett\u00fc \u00f6demesi ger\u00e7ekle\u015ftirilmi\u015ftir.<\/li>\n<li><b>D\u00f6nem Sonu Nakit Mevcudu:<\/b> Nakit ve nakit benzerleri d\u00f6nem sonunda <b>132,5 milyar TL<\/b> olarak kaydedilmi\u015ftir (Faiz reeskontu ve blokajlar hari\u00e7).<\/li>\n<\/ul>\n<h2>Sonu\u00e7<\/h2>\n<p>Sabanc\u0131 Holding, 2026&#8217;n\u0131n ilk \u00e7eyre\u011finde y\u00fcksek enflasyonun getirdi\u011fi parasal pozisyon kay\u0131plar\u0131na ra\u011fmen, bankac\u0131l\u0131k ve enerji segmentlerinin g\u00fc\u00e7l\u00fc katk\u0131s\u0131yla konsolide bazda karl\u0131 bir d\u00f6neme ge\u00e7i\u015f yapm\u0131\u015ft\u0131r. Stratejik segment yap\u0131land\u0131rmas\u0131 ve liderlik de\u011fi\u015fimi sonras\u0131 grup, portf\u00f6y\u00fcn\u00fc modernize etmeye ve verimlilik odakl\u0131 b\u00fcy\u00fcmeye devam etmektedir.<\/p>\n<button class=\"simplefavorite-button\" data-postid=\"2540\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>Sabanc\u0131 Holding 2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011finde g\u00fc\u00e7l\u00fc bir finansal performans sergileyerek ana ortakl\u0131k paylar\u0131nda 317,6 milyon TL net kar a\u00e7\u0131klad\u0131 Enflasyon muhasebesi uygulamalar\u0131n\u0131n finansal tablolar \u00fczerindeki etkilerinin devam etti\u011fi bu d\u00f6nemde holding stratejik bir d\u00f6n\u00fc\u015f\u00fcm ve portf\u00f6y optimizasyonu s\u00fcrecine girdi Carrefoursa ve Ak\u00e7ansa paylar\u0131n\u0131n devrine y\u00f6nelik at\u0131lan ad\u0131mlar grubun daha odakl\u0131 ve karl\u0131 bir yap\u0131ya ge\u00e7i\u015f yapaca\u011f\u0131n\u0131n sinyallerini veriyor Yeni y\u00f6netim kurulu ba\u015fkan\u0131 Hayri \u00c7ulhac\u0131 liderli\u011finde ve yeni atanan CFO Mustafa Ayd\u0131n ile Sabanc\u0131 Holding teknoloji ile enerji odakl\u0131 b\u00fcy\u00fcme hedeflerine do\u011fru emin ad\u0131mlarla ilerlemeye devam ediyor<\/p>\n","protected":false},"author":5,"featured_media":1725,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[279],"class_list":["post-2540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-sahol"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2540","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\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/comments?post=2540"}],"version-history":[{"count":2,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2540\/revisions"}],"predecessor-version":[{"id":2544,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2540\/revisions\/2544"}],"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=2540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=2540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=2540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}