{"id":2547,"date":"2026-06-20T00:02:30","date_gmt":"2026-06-19T21:02:30","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=2547"},"modified":"2026-06-20T00:03:21","modified_gmt":"2026-06-19T21:03:21","slug":"ok-marketler-11-bin-maaza-snrn-at-2026-yl-ilk-eyrek-raporu-ve-ne-kanlar","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/2547","title":{"rendered":"\u015eok Marketler 11 Bin Ma\u011faza S\u0131n\u0131r\u0131n\u0131 A\u015ft\u0131: 2026 Y\u0131l\u0131 \u0130lk \u00c7eyrek Raporu ve \u00d6ne \u00c7\u0131kanlar"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"\u015eok Marketler 2026 Q1 Finansal Analizi: Has\u0131lat ve Ma\u011faza Say\u0131s\u0131nda B\u00fcy\u00fck Art\u0131\u015f (Tedarik\u00e7i paras\u0131...\" width=\"858\" height=\"644\" src=\"https:\/\/www.youtube.com\/embed\/sy3a6Gh6tP8?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>\u015eok Marketler Ticaret A.\u015e. 2026 Birinci \u00c7eyrek Finansal Bilgilendirme Raporu<\/h1>\n<p>Bu belge, \u015eok Marketler Ticaret A.\u015e. ve ba\u011fl\u0131 ortakl\u0131klar\u0131n\u0131n (Grup) 1 Ocak \u2013 31 Mart 2026 hesap d\u00f6nemine ait konsolide finansal tablolar\u0131n\u0131n ve operasyonel verilerinin derinlemesine bir analizini sunmaktad\u0131r. T\u00fcm finansal veriler, TMS 29 &#8220;Y\u00fcksek Enflasyonlu Ekonomilerde Finansal Raporlama&#8221; standard\u0131 uyar\u0131nca 31 Mart 2026 tarihindeki sat\u0131n alma g\u00fcc\u00fc esas\u0131na g\u00f6re (enflasyona g\u00f6re d\u00fczeltilmi\u015f) T\u00fcrk Liras\u0131 (TL) cinsinden ifade edilmi\u015ftir.<\/p>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011fi itibar\u0131yla \u015eok Marketler, y\u00fcksek enflasyonun damga vurdu\u011fu bir ekonomik konjonkt\u00fcrde faaliyetlerini s\u00fcrd\u00fcrm\u00fc\u015ft\u00fcr. Grubun has\u0131lat\u0131 bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re art\u0131\u015f g\u00f6stererek 76,3 milyar TL seviyesine ula\u015fm\u0131\u015ft\u0131r. Ancak, operasyonel giderlerdeki art\u0131\u015f ve finansman maliyetleri neticesinde Grup, d\u00f6nemi 735,7 milyon TL net zarar ile kapatm\u0131\u015ft\u0131r. Bu zarar rakam\u0131, 5,15 milyar TL tutar\u0131ndaki &#8220;Net Parasal Pozisyon Kazanc\u0131&#8221; ile dengelenmi\u015f olmas\u0131na ra\u011fmen operasyonel karl\u0131l\u0131k \u00fczerindeki bask\u0131 devam etmektedir. Grup, 11.119 ma\u011faza ve 51.145 personel ile T\u00fcrkiye&#8217;nin 81 ilinde yayg\u0131n a\u011f\u0131n\u0131 korumaktad\u0131r.<\/p>\n<h2>1. Kurumsal Yap\u0131 ve Operasyonel Kapsam<\/h2>\n<h3>Organizasyonel Geli\u015fim<\/h3>\n<ul>\n<li><b>Kurulu\u015f ve B\u00fcy\u00fcme:<\/b> 1995 y\u0131l\u0131nda kurulan \u015eok Marketler, 2011 y\u0131l\u0131nda Migros&#8217;tan sat\u0131n al\u0131nm\u0131\u015ft\u0131r. Grup b\u00fcnyesine zaman i\u00e7inde DiaSA, OnurEx ve Mevsim Taze Sebze Meyve Sanayi ve Ticaret A.\u015e. gibi yap\u0131lar kat\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>G\u00fcncel Birle\u015fmeler:<\/b> En son 16 Nisan 2024 tarihinde %100 hissesi sat\u0131n al\u0131nan Future Teknoloji Ticaret A.\u015e. ile 13 Aral\u0131k 2024 tarihinde yasal birle\u015fme tamamlanm\u0131\u015ft\u0131r.<\/li>\n<li><b>Ba\u011fl\u0131 Ortakl\u0131klar:<\/b> Grup, Mevsim Taze Sebze Meyve San. ve Tic. A.\u015e. ve UCZ Ma\u011fazac\u0131l\u0131k Tic. A.\u015e. \u00fczerinde %100 kontrol g\u00fcc\u00fcne sahiptir.<\/li>\n<\/ul>\n<h3>Operasyonel \u00d6l\u00e7ek<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Parametre<\/td>\n<td>31 Mart 2026<\/td>\n<td>31 Aral\u0131k 2025<\/td>\n<td>De\u011fi\u015fim<\/td>\n<\/tr>\n<tr>\n<td><b>Ma\u011faza Say\u0131s\u0131<\/b><\/td>\n<td>11.119<\/td>\n<td>11.074<\/td>\n<td>+45 Ma\u011faza<\/td>\n<\/tr>\n<tr>\n<td><b>Personel Say\u0131s\u0131<\/b><\/td>\n<td>51.145<\/td>\n<td>51.212<\/td>\n<td>-67 Personel<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>2. Finansal Performans Analizi (1 Ocak &#8211; 31 Mart 2026)<\/h2>\n<h3>Kar veya Zarar \u00d6zeti<\/h3>\n<p>Grubun has\u0131lat\u0131 reel bazda art\u0131\u015f g\u00f6sterse de sat\u0131\u015flar\u0131n maliyeti ve operasyonel giderler karl\u0131l\u0131\u011f\u0131 s\u0131n\u0131rlam\u0131\u015ft\u0131r.<\/p>\n<ul>\n<li><b>Has\u0131lat:<\/b> 76.316.029.767 TL (2025 ilk \u00e7eyrek: 71,01 milyar TL).<\/li>\n<li><b>Br\u00fct Kar:<\/b> 15.168.714.324 TL.<\/li>\n<li><b>Faaliyet Zarar\u0131:<\/b> (3.726.859.473) TL. Pazarlama ve sat\u0131\u015f giderlerinin 17 milyar TL&#8217;yi a\u015fmas\u0131 bu zarar\u0131n temel nedenidir.<\/li>\n<li><b>Net Parasal Pozisyon Kazanc\u0131:<\/b> 5.152.089.611 TL. Y\u00fcksek enflasyon ortam\u0131nda parasal y\u00fck\u00fcml\u00fcl\u00fcklerin parasal varl\u0131klardan fazla olmas\u0131 nedeniyle olu\u015fan bu kazan\u00e7, vergi \u00f6ncesi zarar\u0131 \u00f6nemli \u00f6l\u00e7\u00fcde azaltm\u0131\u015ft\u0131r.<\/li>\n<li><b>D\u00f6nem Net Zarar\u0131:<\/b> (735.697.133) TL.<\/li>\n<\/ul>\n<h3>Nakit Ak\u0131\u015f Dinamikleri<\/h3>\n<p>Grup, i\u015fletme faaliyetlerinden 6,68 milyar TL net nakit giri\u015fi sa\u011flam\u0131\u015ft\u0131r. Yat\u0131r\u0131m faaliyetlerinde ise maddi ve maddi olmayan duran varl\u0131k al\u0131mlar\u0131 nedeniyle 733,9 milyon TL nakit \u00e7\u0131k\u0131\u015f\u0131 ger\u00e7ekle\u015fmi\u015ftir. D\u00f6nem sonu nakit ve nakit benzerleri 12,22 milyar TL olarak kaydedilmi\u015ftir.<\/p>\n<h2>3. Finansal Durum (Bilan\u00e7o) Analizi<\/h2>\n<h3>Varl\u0131k Yap\u0131s\u0131<\/h3>\n<p>Grubun toplam varl\u0131klar\u0131 31 Aral\u0131k 2025&#8217;e g\u00f6re hafif bir d\u00fc\u015f\u00fc\u015fle 115,8 milyar TL olarak ger\u00e7ekle\u015fmi\u015ftir.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Varl\u0131k Grubu<\/td>\n<td>31 Mart 2026 (TL)<\/td>\n<td>Temel Bile\u015fenler<\/td>\n<\/tr>\n<tr>\n<td><b>D\u00f6nen Varl\u0131klar<\/b><\/td>\n<td>51.760.488.133<\/td>\n<td>Stoklar (37,39 Milyar TL), Nakit (12,22 Milyar TL)<\/td>\n<\/tr>\n<tr>\n<td><b>Duran Varl\u0131klar<\/b><\/td>\n<td>64.016.128.752<\/td>\n<td>Kullan\u0131m Hakk\u0131 Varl\u0131klar\u0131 (26,57 Milyar TL), Maddi Duran Varl\u0131klar (24,28 Milyar TL), \u015eerefiye (10,82 Milyar TL)<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Varl\u0131klar<\/b><\/td>\n<td><b>115.776.616.885<\/b><\/td>\n<td>&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>Y\u00fck\u00fcml\u00fcl\u00fckler ve \u00d6zkaynaklar<\/h3>\n<ul>\n<li><b>K\u0131sa Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler:<\/b> 60,98 milyar TL. Bu tutar\u0131n %79,6&#8217;s\u0131n\u0131 (48,54 milyar TL) ticari bor\u00e7lar olu\u015fturmaktad\u0131r.<\/li>\n<li><b>Uzun Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler:<\/b> 16,66 milyar TL. Kiralama i\u015flemlerinden kaynaklanan y\u00fck\u00fcml\u00fcl\u00fckler (10,39 milyar TL) en b\u00fcy\u00fck paya sahiptir.<\/li>\n<li><b>\u00d6zkaynaklar:<\/b> 38,13 milyar TL. Ge\u00e7mi\u015f y\u0131llar karlar\u0131ndaki azalma ve d\u00f6nem zarar\u0131 nedeniyle \u00f6zkaynaklarda bir \u00f6nceki y\u0131l sonuna g\u00f6re gerileme g\u00f6r\u00fclm\u00fc\u015ft\u00fcr.<\/li>\n<\/ul>\n<h2>4. Muhasebe Politikalar\u0131 ve Kritik De\u011ferlendirmeler<\/h2>\n<h3>Enflasyon Muhasebesi (TMS 29)<\/h3>\n<p>Konsolide finansal tablolar, T\u00fcrkiye \u0130statistik Kurumu (T\u00dc\u0130K) taraf\u0131ndan yay\u0131nlanan T\u00fcketici Fiyat Endeksi (T\u00dcFE) kullan\u0131larak d\u00fczeltilmi\u015ftir.<\/p>\n<ul>\n<li><b>31 Mart 2026 Endeksi:<\/b> 3.866,74<\/li>\n<li><b>D\u00fczeltme Katsay\u0131s\u0131 (31 Aral\u0131k 2025&#8217;ten itibaren):<\/b> 1,10042<\/li>\n<li><b>\u00dc\u00e7 Y\u0131ll\u0131k Bile\u015fik Enflasyon Oran\u0131:<\/b> %205<\/li>\n<\/ul>\n<h3>\u00d6nemli Tahminler ve Varsay\u0131mlar<\/h3>\n<ol>\n<li><b>Stok De\u011fer D\u00fc\u015f\u00fckl\u00fc\u011f\u00fc:<\/b> 90 g\u00fcn\u00fcn \u00fczerinde hareket g\u00f6rmeyen g\u0131da d\u0131\u015f\u0131 stoklar i\u00e7in 44,46 milyon TL kar\u015f\u0131l\u0131k ayr\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>Marka De\u011feri:<\/b> \u015eok marka de\u011ferinin s\u0131n\u0131rs\u0131z \u00f6mre sahip oldu\u011fu varsay\u0131lmaktad\u0131r. 31 Mart 2026 itibar\u0131yla yap\u0131lan testlerde marka de\u011feri \u00fczerinde bir de\u011fer d\u00fc\u015f\u00fckl\u00fc\u011f\u00fc tespit edilmemi\u015ftir.<\/li>\n<li><b>Kullan\u0131m Hakk\u0131 Varl\u0131klar\u0131:<\/b> Kiralama y\u00fck\u00fcml\u00fcl\u00fcklerinin hesaplanmas\u0131nda alternatif bor\u00e7lanma faiz oran\u0131 kullan\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>Has\u0131lat Tan\u0131ma:<\/b> Grup, has\u0131lat\u0131 TFRS 15 uyar\u0131nca &#8220;kontrol\u00fcn devri&#8221; esas\u0131na dayal\u0131 be\u015f a\u015famal\u0131 modelle muhasebele\u015ftirmektedir. Perakende sat\u0131\u015flarda has\u0131lat, mal\u0131n m\u00fclkiyeti m\u00fc\u015fteriye ge\u00e7ti\u011fi anda kaydedilir.<\/li>\n<\/ol>\n<h2>5. Finansal Ara\u00e7lar ve Risk Y\u00f6netimi<\/h2>\n<p>Grup, finansal bor\u00e7lar\u0131n\u0131n defter de\u011ferinin ger\u00e7e\u011fe uygun de\u011ferlerine yakla\u015f\u0131k oldu\u011funu de\u011ferlendirmektedir. Kiralama i\u015flemlerinden kaynaklanan toplam y\u00fck\u00fcml\u00fcl\u00fck (k\u0131sa ve uzun vadeli) 15,7 milyar TL seviyesindedir. Grup, likidite ve piyasa risklerini y\u00f6netmek ad\u0131na nakit ak\u0131\u015flar\u0131n\u0131 yak\u0131ndan takip etmekte; ticari alacaklar i\u00e7in &#8220;beklenen kredi zarar\u0131&#8221; modelini uygulayarak de\u011fer d\u00fc\u015f\u00fckl\u00fc\u011f\u00fc kar\u015f\u0131l\u0131klar\u0131n\u0131 basitle\u015ftirilmi\u015f yakla\u015f\u0131mla hesaplamaktad\u0131r.<\/p>\n<p><b>\u00d6nemli Not:<\/b> 31 Mart 2026 tarihi itibar\u0131yla Grubun bloke mevduat\u0131 bulunmamaktad\u0131r ve kredi kart\u0131 alacaklar\u0131n\u0131n vadesi 30 g\u00fcnden k\u0131sad\u0131r.<\/p>\n<button class=\"simplefavorite-button\" data-postid=\"2547\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>\u015eok Marketler 2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011fine ait konsolide finansal sonu\u00e7lar\u0131n\u0131 payla\u015ft\u0131 Enflasyon muhasebesi etkilerinin belirgin oldu\u011fu rapor perakende devinin hem has\u0131lat b\u00fcy\u00fcmesini hem de ma\u011faza a\u011f\u0131ndaki geni\u015flemeyi g\u00f6zler \u00f6n\u00fcne seriyor 11 bin ma\u011faza baraj\u0131n\u0131 a\u015fan \u015firketin operasyonel performans\u0131 yat\u0131r\u0131mc\u0131lar ve sekt\u00f6r takip\u00e7ileri i\u00e7in kritik veriler sunuyor Bu yaz\u0131m\u0131zda \u015eok Marketler&#8217;in 2026 Q1 performans\u0131n\u0131 ve bilan\u00e7osundaki \u00f6nemli de\u011fi\u015fimleri t\u00fcm detaylar\u0131yla inceliyoruz<\/p>\n","protected":false},"author":11,"featured_media":1725,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[305],"class_list":["post-2547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-sokm"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2547","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\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/comments?post=2547"}],"version-history":[{"count":1,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2547\/revisions"}],"predecessor-version":[{"id":2548,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2547\/revisions\/2548"}],"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=2547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=2547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=2547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}