{"id":309,"date":"2025-12-20T20:51:41","date_gmt":"2025-12-20T17:51:41","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=309"},"modified":"2025-12-20T20:51:41","modified_gmt":"2025-12-20T17:51:41","slug":"%f0%9f%94%b4%f0%9f%87%b9%f0%9f%87%b7-formt-formet-metal-ve-cam-sanayi-2025-9-bilanco-analizi-%f0%9f%a7%bf","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/309","title":{"rendered":"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #FORMT | Formet Metal ve Cam Sanayi 2025\/9 Bilan\u00e7o Analizi |  \ud83e\uddff"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #FORMT | Formet Metal ve Cam Sanayi 2025\/9 Bilan\u00e7o Analizi |  \ud83e\uddff\" width=\"858\" height=\"483\" src=\"https:\/\/www.youtube.com\/embed\/cgWKSQBYx7o?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\u00fcrkiye&#8217;nin Kap\u0131 Devi Zarar Ediyor: FORMET&#8217;in Finansal Raporundan \u00c7\u0131kan 5 \u015ea\u015f\u0131rt\u0131c\u0131 Ger\u00e7ek<\/h1>\n<h3>Giri\u015f: Bir Piyasa Liderinin Perde Arkas\u0131<\/h3>\n<p>Bir sekt\u00f6r\u00fcn zirvesinde olmak, her zaman finansal tablolar\u0131n da zirvede oldu\u011fu anlam\u0131na gelmez. Hatta bazen, pazar\u0131n en b\u00fcy\u00fck oyuncusunun perde arkas\u0131nda, d\u0131\u015far\u0131dan bak\u0131ld\u0131\u011f\u0131nda pek de belli olmayan f\u0131rt\u0131nalar kopuyor olabilir. T\u00fcrkiye&#8217;nin sat\u0131\u015f ve \u00fcretim anlam\u0131nda en b\u00fcy\u00fck \u00e7elik kap\u0131 \u00fcreticisi olan Formet Metal ve Cam Sanayi A.\u015e. (Borsa Kodu: FORMT) de tam olarak b\u00f6yle bir d\u00f6neme\u00e7ten ge\u00e7iyor. \u015eirketin k\u0131sa s\u00fcre \u00f6nce yay\u0131nlad\u0131\u011f\u0131 9 ayl\u0131k faaliyet raporu, bir sanayi devinin kar\u015f\u0131la\u015ft\u0131\u011f\u0131 zorluklar\u0131, att\u0131\u011f\u0131 cesur ad\u0131mlar\u0131 ve yat\u0131r\u0131mc\u0131lar\u0131 hem d\u00fc\u015f\u00fcnd\u00fcren hem de \u015fa\u015f\u0131rtan ger\u00e7ekleri g\u00f6zler \u00f6n\u00fcne seriyor. Gelin, bu raporun sat\u0131r aralar\u0131nda gizli 5 \u015fa\u015f\u0131rt\u0131c\u0131 ger\u00e7e\u011fe birlikte g\u00f6z atal\u0131m.<\/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<h3>1. Sat\u0131\u015flar Art\u0131yor Ama K\u00e2rlar Erimi\u015f Durumda: %23&#8217;ten %4&#8217;e D\u00fc\u015fen K\u00e2r Marj\u0131 ve Gizli Tehlike<\/h3>\n<p>Raporun belki de en \u00e7arp\u0131c\u0131 \u00e7eli\u015fkisi burada yat\u0131yor. Formet&#8217;in 2025 y\u0131l\u0131n\u0131n ilk dokuz ay\u0131ndaki net sat\u0131\u015flar\u0131, bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re %6&#8217;l\u0131k bir art\u0131\u015f g\u00f6stermi\u015f. Y\u00fczeysel bir bak\u0131\u015fla bu, olumlu bir geli\u015fme gibi g\u00f6r\u00fcnebilir. Ancak madalyonun di\u011fer y\u00fcz\u00fc hi\u00e7 de parlak de\u011fil.<\/p>\n<p>Bu m\u00fctevaz\u0131 sat\u0131\u015f art\u0131\u015f\u0131na ra\u011fmen, \u015firketin br\u00fct k\u00e2r marj\u0131 ayn\u0131 d\u00f6nemde %23 gibi sa\u011fl\u0131kl\u0131 bir seviyeden %4&#8217;e dramatik bir \u015fekilde \u00e7ak\u0131lm\u0131\u015f durumda. Bu durum, \u015firketin satt\u0131\u011f\u0131 \u00fcr\u00fcnlerden neredeyse hi\u00e7 k\u00e2r edemedi\u011fi anlam\u0131na geliyor ve sonu\u00e7 olarak Formet&#8217;i 168,9 milyon TL&#8217;lik devasa bir esas faaliyet zarar\u0131na s\u00fcr\u00fckl\u00fcyor. Peki ama neden? Raporun derinliklerine inince bir ba\u015fka \u00e7atlak daha beliriyor: tam 77,7 milyon TL tutar\u0131ndaki &#8220;\u015e\u00fcpheli Ticari Alacaklar&#8221;. Bu rakam, \u015firketin yapt\u0131\u011f\u0131 sat\u0131\u015flar\u0131n \u00f6nemli bir k\u0131sm\u0131n\u0131 tahsil etmekte zorland\u0131\u011f\u0131n\u0131 ve bunun \u00f6nemli bir risk olu\u015fturdu\u011funu g\u00f6steriyor. Pazar lideri bir firma i\u00e7in bu denli keskin bir k\u00e2rl\u0131l\u0131k d\u00fc\u015f\u00fc\u015f\u00fc ve tahsilat riski, artan maliyet bask\u0131lar\u0131 ve operasyonel verimsizliklere i\u015faret eden son derece endi\u015fe verici bir sinyal olarak \u00f6ne \u00e7\u0131k\u0131yor.<\/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<h3>2. Bor\u00e7 Bata\u011f\u0131ndan Sa\u011flam Bilan\u00e7oya: Bor\u00e7\/Sermaye Oran\u0131 %176&#8217;dan %18&#8217;e Nas\u0131l D\u00fc\u015ft\u00fc?<\/h3>\n<p>K\u00e2rl\u0131l\u0131k taraf\u0131ndaki olumsuz tabloya ra\u011fmen, Formet&#8217;in bilan\u00e7o taraf\u0131nda inan\u0131lmaz bir ba\u015far\u0131 hikayesi yazd\u0131\u011f\u0131n\u0131 g\u00f6r\u00fcyoruz. 31 Aral\u0131k 2024 tarihinde \u015firketin Toplam Bor\u00e7 \/ \u00d6zsermaye oran\u0131 %176 gibi bir &#8220;bor\u00e7 bata\u011f\u0131&#8221; olarak nitelendirilebilecek, olduk\u00e7a endi\u015fe verici bir seviyedeydi.<\/p>\n<p>Ancak sadece dokuz ay sonra, 30 Eyl\u00fcl 2025 itibar\u0131yla bu oran, inan\u0131lmaz bir d\u00fc\u015f\u00fc\u015fle %18 gibi son derece sa\u011fl\u0131kl\u0131 ve y\u00f6netilebilir bir seviyeye geriledi. Peki, bu mucizevi de\u011fi\u015fim nas\u0131l ger\u00e7ekle\u015fti? Cevap, \u015firketin ger\u00e7ekle\u015ftirdi\u011fi ba\u015far\u0131l\u0131 bedelli sermaye art\u0131r\u0131m\u0131nda gizli (yani, mevcut veya yeni ortaklardan nakit kar\u015f\u0131l\u0131\u011f\u0131 yeni hisse senedi almalar\u0131n\u0131 isteyerek ger\u00e7ekle\u015ftirilen bir sermaye enjeksiyonu). Bu hamleyle kasas\u0131na 541,9 milyon TL&#8217;lik taze nakit giri\u015fi sa\u011flayan \u015firket, bu fonu ak\u0131ll\u0131ca kullanarak toplam banka bor\u00e7lar\u0131n\u0131 yakla\u015f\u0131k 508 milyon TL&#8217;den 276 milyon TL&#8217;ye indirdi. Bu hamle, \u015firketin k\u00e2r edemedi\u011fi bir d\u00f6nemde bile finansal temelini g\u00fc\u00e7lendirmek ve bor\u00e7 y\u00fck\u00fcn\u00fc hafifletmek i\u00e7in ne kadar kararl\u0131 ve stratejik ad\u0131mlar atabildi\u011fini net bir \u015fekilde g\u00f6steriyor.<\/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<h3>3. Kurucu Kontrol\u00fc G\u00fc\u00e7lendiriyor: 5 Kat Oy Hakk\u0131 Veren \u0130mtiyazl\u0131 Paylar Geliyor<\/h3>\n<p>Formet&#8217;in att\u0131\u011f\u0131 ad\u0131mlar sadece finansal yeniden yap\u0131lanmayla s\u0131n\u0131rl\u0131 de\u011fil. \u015eirket, kurumsal y\u00f6netim yap\u0131s\u0131nda da \u00e7ok stratejik bir de\u011fi\u015fikli\u011fe gidiyor. Sermaye Piyasas\u0131 Kurulu (SPK), kurucu ortak Mustafa Sezen&#8217;e ait paylar\u0131n A Grubu imtiyazl\u0131 paylara d\u00f6n\u00fc\u015ft\u00fcr\u00fclmesini onaylad\u0131.<\/p>\n<p>Peki, bu ne anlama geliyor? Bu imtiyaz, A Grubu paylara sahip olan Mustafa Sezen&#8217;e, genel kurul toplant\u0131lar\u0131nda her bir pay\u0131 i\u00e7in tam be\u015f oy hakk\u0131 tan\u0131yor. Daha da \u00f6nemlisi, y\u00f6netim kurulu \u00fcye say\u0131s\u0131n\u0131n yar\u0131s\u0131n\u0131 tek ba\u015f\u0131na belirleme hakk\u0131 veriyor. \u015eirketin halka a\u00e7\u0131kl\u0131k oran\u0131n\u0131n %93,5 gibi \u00e7ok y\u00fcksek bir seviyede oldu\u011fu d\u00fc\u015f\u00fcn\u00fcld\u00fc\u011f\u00fcnde bu hamle, kurucunun da\u011f\u0131n\u0131k ortakl\u0131k yap\u0131s\u0131 i\u00e7inde \u015firket \u00fczerindeki kontrol\u00fcn\u00fc ve stratejik y\u00f6nlendirme g\u00fcc\u00fcn\u00fc kal\u0131c\u0131 olarak peki\u015ftirmesi anlam\u0131na geliyor. Bu, \u015firketin gelece\u011finde daha h\u0131zl\u0131 ve kararl\u0131 ad\u0131mlar at\u0131lmas\u0131n\u0131n \u00f6n\u00fcn\u00fc a\u00e7abilecek \u00f6nemli bir manevra.<\/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<h3>4. Yaln\u0131zca 146 \u00c7al\u0131\u015fanla Bir Sanayi Devi mi? Rakamlar\u0131n Ard\u0131ndaki Soru \u0130\u015faretleri<\/h3>\n<p>Raporun en \u015fa\u015f\u0131rt\u0131c\u0131 detaylar\u0131ndan biri de operasyonel verilerde sakl\u0131. Formet&#8217;in b\u00fcy\u00fckl\u00fc\u011f\u00fcn\u00fc tekrar hat\u0131rlayal\u0131m: Kayseri&#8217;de 55.000 metrekarelik dev bir tesiste y\u0131ll\u0131k 240.000 adet \u00e7elik kap\u0131 \u00fcretim kapasitesi ve \u00fcr\u00fcnlerini d\u00fcnyan\u0131n 40&#8217;a yak\u0131n \u00fclkesine ihra\u00e7 eden bir operasyon&#8230; Bu rakamlar, akla y\u00fczlerce, hatta binlerce \u00e7al\u0131\u015fan\u0131 olan bir sanayi devi getiriyor.<\/p>\n<p>Ancak faaliyet raporuna g\u00f6re, 30 Eyl\u00fcl 2025 tarihi itibar\u0131yla \u015firketin toplam personel say\u0131s\u0131 sadece 146 ki\u015fi (31 Aral\u0131k 2024&#8217;te 147 ki\u015fiydi). Evet, yanl\u0131\u015f okumad\u0131n\u0131z: 146. Bu rakam, b\u00f6ylesine devasa bir operasyonel hacim i\u00e7in inan\u0131lmaz derecede d\u00fc\u015f\u00fck ve ak\u0131llara durgunluk verici. Bu durumun arkas\u0131nda ne yat\u0131yor olabilir? \u00dcretim s\u00fcre\u00e7lerinde ula\u015f\u0131lan s\u0131ra d\u0131\u015f\u0131 bir otomasyon seviyesi mi? Yoksa \u00fcretimin \u00f6nemli bir k\u0131sm\u0131n\u0131n d\u0131\u015f kaynak (fason) kullan\u0131m\u0131 ile ger\u00e7ekle\u015ftirilmesi mi? Rapor bu konuda detay vermese de bu rakam, \u015firketin i\u015f modelinin geleneksel sanayi \u015firketlerinden ne kadar farkl\u0131 olabilece\u011fine dair \u00f6nemli bir soru i\u015fareti yarat\u0131yor.<\/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<h3>5. Yat\u0131r\u0131mc\u0131 G\u00fcveni Tam: Zarara Ra\u011fmen 832 Milyon TL&#8217;lik Yeni Sermaye \u0130\u00e7in Ba\u015fvuru Yap\u0131ld\u0131<\/h3>\n<p>\u0130\u00e7inde bulundu\u011fu finansal zorluklara ve k\u00e2rl\u0131l\u0131k sorunlar\u0131na ra\u011fmen Formet&#8217;in durmaya niyeti yok. Tam tersine, \u015firket gelecekteki b\u00fcy\u00fcme stratejilerini finanse etmek i\u00e7in \u00e7ok daha b\u00fcy\u00fck bir ad\u0131m atma niyetinde. \u015eirket y\u00f6netimi, mevcut ortaklar\u0131n yeni pay alma haklar\u0131n\u0131 k\u0131s\u0131tlayarak, 22 farkl\u0131 yat\u0131r\u0131mc\u0131ya tahsisli olarak 832 milyon TL&#8217;lik dev bir sermaye art\u0131r\u0131m\u0131 i\u00e7in SPK&#8217;dan onay almak \u00fczere ba\u015fvuru yapt\u0131\u011f\u0131n\u0131 duyurdu (yani, halka arz yerine, paylar\u0131n \u00f6nceden belirlenmi\u015f yat\u0131r\u0131mc\u0131lara \u00f6zel olarak sat\u0131lmas\u0131 planlan\u0131yor).<\/p>\n<p>Bu iddial\u0131 sermaye art\u0131rma plan\u0131, bilan\u00e7o temizli\u011finin bir sonraki ad\u0131m\u0131 olarak g\u00f6r\u00fcl\u00fcyor. Bor\u00e7\/sermaye oran\u0131n\u0131n %176 gibi endi\u015fe verici bir seviyeden %18 gibi sa\u011fl\u0131kl\u0131 bir noktaya \u00e7ekilmesi, muhtemelen bu 22 yeni yat\u0131r\u0131mc\u0131ya masaya oturma g\u00fcvenini verdi. Bir \u015firketin zarar etti\u011fi bir d\u00f6nemde bu denli b\u00fcy\u00fck bir nakit giri\u015fi hedeflemesi, piyasan\u0131n ve yat\u0131r\u0131mc\u0131lar\u0131n \u015firketin gelece\u011fine ve kurgulanan geri d\u00f6n\u00fc\u015f hikayesine ne kadar inand\u0131\u011f\u0131n\u0131 g\u00f6steren g\u00fc\u00e7l\u00fc bir sinyal. Onay al\u0131nmas\u0131 durumunda bu taze sermaye, \u015firketin yeni yat\u0131r\u0131mlar yapmas\u0131 ve k\u00e2rl\u0131l\u0131\u011fa giden yolda elini rahatlatmas\u0131 i\u00e7in kritik bir rol oynayabilir.<\/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<h3>Sonu\u00e7: Zorlu Bir D\u00f6neme\u00e7te Cesur Hamleler<\/h3>\n<p>Formet Metal ve Cam Sanayi&#8217;nin finansal raporu, birbiriyle \u00e7eli\u015fen ama bir o kadar da anlaml\u0131 bir tablo \u00e7iziyor. Bir yanda pazar liderli\u011fi, cesur bor\u00e7 azaltma hamleleri, g\u00fc\u00e7lendirilen y\u00f6netim kontrol\u00fc ve yat\u0131r\u0131mc\u0131lardan gelen muazzam g\u00fcven; di\u011fer yanda ise eriyen k\u00e2r marjlar\u0131, operasyonel zararlar ve endi\u015fe verici boyuttaki \u015f\u00fcpheli alacaklar.<\/p>\n<p>\u015eirketin att\u0131\u011f\u0131 bu stratejik ad\u0131mlar, sadece zor bir d\u00f6nemi atlatmak i\u00e7in at\u0131lan bir &#8220;kurtarma&#8221; operasyonu mu, yoksa gelecekteki b\u00fcy\u00fck bir &#8220;s\u0131\u00e7rama&#8221; i\u00e7in yap\u0131lan bir haz\u0131rl\u0131k m\u0131? Peki, t\u00fcm bu stratejik manevralar ve planlanan taze kan, T\u00fcrkiye&#8217;nin \u00e7elik kap\u0131 devini yeniden istikrarl\u0131 k\u00e2rl\u0131l\u0131\u011fa ta\u015f\u0131yabilecek mi? Formet&#8217;in \u00f6n\u00fcm\u00fczdeki d\u00f6nemi, \u015f\u00fcphesiz ki yak\u0131ndan izlenmeye de\u011fer bir i\u015f hikayesi sunacak.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h1><span style=\"color: #0000ff;\">Formet Metal ve Cam Sanayi A.\u015e. Faaliyet ve Finansal Durum Raporu (01.01.2025 &#8211; 30.09.2025)<\/span><\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu brifing, Formet Metal ve Cam Sanayi A.\u015e.&#8217;nin 30 Eyl\u00fcl 2025&#8217;te sona eren dokuz ayl\u0131k d\u00f6neme ili\u015fkin faaliyet raporu ve finansal tablolar\u0131n\u0131 sentezleyerek \u015firketin mevcut durumu, performans\u0131 ve stratejik hamleleri hakk\u0131nda kapsaml\u0131 bir analiz sunmaktad\u0131r. Raporlama d\u00f6nemi, \u015firketin operasyonel zorluklarla kar\u015f\u0131la\u015ft\u0131\u011f\u0131 ancak mali yap\u0131s\u0131n\u0131 \u00f6nemli \u00f6l\u00e7\u00fcde g\u00fc\u00e7lendirdi\u011fi ikili bir tablo ortaya koymaktad\u0131r.<\/p>\n<p><b>Operasyonel Performans:<\/b> \u015eirketin net sat\u0131\u015flar\u0131, ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re %6 art\u0131\u015fla 693,7 milyon TL&#8217;ye ula\u015fm\u0131\u015ft\u0131r. Ancak bu c\u00fczi b\u00fcy\u00fcmeye ra\u011fmen, k\u00e2rl\u0131l\u0131kta ciddi bir d\u00fc\u015f\u00fc\u015f ya\u015fanm\u0131\u015ft\u0131r. Br\u00fct k\u00e2r marj\u0131 %23&#8217;ten %4&#8217;e gerilemi\u015f, bu da maliyet bask\u0131lar\u0131n\u0131n veya fiyatland\u0131rma stratejilerindeki zorluklar\u0131n alt\u0131n\u0131 \u00e7izmektedir. Sonu\u00e7 olarak, \u015firketin esas faaliyet zarar\u0131 bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemindeki 33,4 milyon TL&#8217;den 168,9 milyon TL&#8217;ye y\u00fckselmi\u015ftir. D\u00f6nem net zarar\u0131 ise 172,7 milyon TL&#8217;den 125,5 milyon TL&#8217;ye gerilemi\u015f olsa da, bu durum temel olarak operasyonel olmayan kalemlerden kaynaklanmaktad\u0131r. Raporda, zarar\u0131n ana nedenleri olarak y\u00fcksek finansman maliyetleri, kur farklar\u0131 ve enflasyonist bask\u0131lar belirtilmi\u015ftir.<\/p>\n<p><b>Finansal Yap\u0131 ve Stratejik Hamleler:<\/b> Operasyonel zay\u0131fl\u0131\u011fa kar\u015f\u0131n, \u015firket mali yap\u0131s\u0131n\u0131 temelden g\u00fc\u00e7lendiren \u00f6nemli ad\u0131mlar atm\u0131\u015ft\u0131r. Ger\u00e7ekle\u015ftirilen %100 oran\u0131ndaki bedelli sermaye art\u0131r\u0131m\u0131 ile 541,9 milyon TL nakit giri\u015fi sa\u011flanm\u0131\u015ft\u0131r. Bu fon, \u00f6ncelikli olarak banka bor\u00e7lar\u0131n\u0131n azalt\u0131lmas\u0131nda kullan\u0131lm\u0131\u015f ve \u015firketin toplam banka bor\u00e7lar\u0131 508 milyon TL&#8217;den 276,4 milyon TL&#8217;ye d\u00fc\u015f\u00fcr\u00fclm\u00fc\u015ft\u00fcr. Bu hamleler sonucunda, \u015firketin cari oran\u0131 1,22&#8217;den 2,16&#8217;ya y\u00fckselmi\u015f, bor\u00e7\/aktif oran\u0131 ise %40&#8217;tan %22&#8217;ye gerileyerek likidite ve bor\u00e7luluk yap\u0131s\u0131nda belirgin bir iyile\u015fme sa\u011flanm\u0131\u015ft\u0131r.<\/p>\n<p><b>Gelece\u011fe Y\u00f6nelik Ad\u0131mlar:<\/b> \u015eirket, kurucu ortak Mustafa Sezen&#8217;e y\u00f6netim kurulu ve oy haklar\u0131nda imtiyaz tan\u0131yan yeni bir pay yap\u0131s\u0131 i\u00e7in Sermaye Piyasas\u0131 Kurulu&#8217;ndan (SPK) onay alm\u0131\u015ft\u0131r. Ayr\u0131ca, b\u00fcy\u00fcme stratejilerini finanse etmek amac\u0131yla, mevcut ortaklar\u0131n r\u00fc\u00e7han haklar\u0131 k\u0131s\u0131tlanarak 22 yat\u0131r\u0131mc\u0131ya y\u00f6nelik 832 milyon TL&#8217;lik bir tahsisli sermaye art\u0131r\u0131m\u0131 planlanmakta olup, bu konuda SPK&#8217;ya ba\u015fvuru yap\u0131lm\u0131\u015ft\u0131r. Bu ad\u0131mlar, \u015firketin sermaye yap\u0131s\u0131n\u0131 yeniden \u015fekillendirme ve gelecekteki yat\u0131r\u0131mlar i\u00e7in kaynak yaratma konusundaki kararl\u0131l\u0131\u011f\u0131n\u0131 g\u00f6stermektedir.<\/p>\n<h2>1. \u015eirkete Genel Bak\u0131\u015f ve Faaliyet Alanlar\u0131<\/h2>\n<p>Formet Metal ve Cam Sanayi A.\u015e., 26 Ocak 2005&#8217;te kurulmu\u015f ve hisseleri 22 May\u0131s 2018&#8217;den itibaren Borsa \u0130stanbul&#8217;da (B\u0130ST Kodu: FORMT) Ana Pazar&#8217;da i\u015flem g\u00f6rmeye ba\u015flam\u0131\u015ft\u0131r. \u015eirketin merkezi Kayseri&#8217;de bulunmaktad\u0131r.<\/p>\n<p><b>Faaliyet Konular\u0131:<\/b> \u015eirketin ana faaliyet alanlar\u0131 d\u00f6rt ana segmentte yo\u011funla\u015fmaktad\u0131r:<\/p>\n<ul>\n<li><b>\u00c7elik Kap\u0131:<\/b> \u015eirket, 20 y\u0131la yak\u0131n deneyimiyle &#8220;T\u00fcrkiye&#8217;nin en b\u00fcy\u00fck \u00e7elik kap\u0131 \u00fcreticisi&#8221; konumundad\u0131r.<\/li>\n<li><b>Bah\u00e7e Mobilyas\u0131:<\/b> Metal ve cam bile\u015fenli masa, sandalye gibi d\u0131\u015f mekan mobilyalar\u0131n\u0131n \u00fcretimi, sat\u0131\u015f\u0131, ithalat\u0131 ve ihracat\u0131.<\/li>\n<li><b>Dayan\u0131kl\u0131 T\u00fcketim Mamulleri:<\/b> Elektrikli k\u00fc\u00e7\u00fck ev aletleri ve pi\u015firici gruplar\u0131.<\/li>\n<li><b>Cam \u00dcretimi:<\/b> Mobilya \u00fcretimi i\u00e7in gerekli olan temperleme, kesim, rodaj ve montaj i\u015flemleri.<\/li>\n<\/ul>\n<p><b>\u00dcretim Tesisleri ve Kapasite:<\/b><\/p>\n<ul>\n<li><b>Kayseri OSB Tesisi (Fabrika 1):<\/b> 32.000 m\u00b2&#8217;si kapal\u0131 olmak \u00fczere toplam 55.000 m\u00b2 alanda \u00e7elik kap\u0131 ve bah\u00e7e mobilyas\u0131 \u00fcretimi ger\u00e7ekle\u015ftirmektedir. Y\u0131ll\u0131k \u00fcretim kapasitesi 240.000 adedin \u00fczerindedir.<\/li>\n<li><b>Beyde\u011firmeni Tesisi (Fabrika 2):<\/b> 118.000 m\u00b2&#8217;lik arsa \u00fczerinde dayan\u0131kl\u0131 t\u00fcketim mamulleri ve cam \u00fcretimi yap\u0131lmaktad\u0131r.<\/li>\n<li><b>G\u00fcne\u015f Enerji Santrali (GES):<\/b> Beyde\u011firmeni mevkiinde, 71.000 m\u00b2&#8217;lik arazi \u00fczerinde 6 MW g\u00fcc\u00fcnde bir GES bulunmaktad\u0131r.<\/li>\n<\/ul>\n<p><b>Pazar Varl\u0131\u011f\u0131 ve Kalite Standartlar\u0131:<\/b> \u015eirket, \u00fcr\u00fcnlerini T\u00fcrkiye genelindeki 400&#8217;den fazla showroom arac\u0131l\u0131\u011f\u0131yla ve Avrupa, Asya, Afrika, Amerika ve Ortado\u011fu&#8217;da 40&#8217;a yak\u0131n \u00fclkeye ihra\u00e7 ederek son t\u00fcketiciye ula\u015ft\u0131rmaktad\u0131r. \u00dcretim s\u00fcre\u00e7leri ISO-9001 kalite g\u00fcvencesi alt\u0131nda y\u00f6netilmekte olup, ayr\u0131ca ISO-14001, ISO-27001, ISO-45001 gibi y\u00f6netim sistemi sertifikalar\u0131na ve \u00fcr\u00fcnleri i\u00e7in TS EN 16034 (Yang\u0131n Kap\u0131lar\u0131) ve TS 12655 (\u00c7elik Kap\u0131lar) gibi uluslararas\u0131 ge\u00e7erlili\u011fe sahip belgelere sahiptir.<\/p>\n<h2>2. Kurumsal Yap\u0131 ve Y\u00f6netim<\/h2>\n<p><b>Ortakl\u0131k Yap\u0131s\u0131 (30.09.2025 itibar\u0131yla):<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Orta\u011f\u0131n Ad\u0131-Soyad\u0131\/Ticaret Unvan\u0131<\/td>\n<td>Sermayedeki Pay\u0131 (TL)<\/td>\n<td>Sermayedeki Pay\u0131 (%)<\/td>\n<td>Oy Hakk\u0131 Oran\u0131 (%)<\/td>\n<\/tr>\n<tr>\n<td>MUSTAFA SEZEN<\/td>\n<td>69.296.972,48<\/td>\n<td>6,44<\/td>\n<td>6,44<\/td>\n<\/tr>\n<tr>\n<td>AHMET T\u00dcRKER<\/td>\n<td>66.900.038<\/td>\n<td>6,22<\/td>\n<td>6,22<\/td>\n<\/tr>\n<tr>\n<td>D\u0130\u011eER (Halka A\u00e7\u0131k)<\/td>\n<td>940.064.893,52<\/td>\n<td>87,34<\/td>\n<td>87,34<\/td>\n<\/tr>\n<tr>\n<td><b>TOPLAM<\/b><\/td>\n<td><b>1.076.261.904<\/b><\/td>\n<td><b>100,00<\/b><\/td>\n<td><b>100,00<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Y\u00f6netim Kurulu:<\/b> \u015eirket, 5 \u00fcyeden olu\u015fan bir Y\u00f6netim Kurulu taraf\u0131ndan y\u00f6netilmektedir.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Ad\u0131 Soyad\u0131<\/td>\n<td>Unvan\u0131<\/td>\n<\/tr>\n<tr>\n<td>Murat Livg\u00f6\u00e7men<\/td>\n<td>Y\u00f6netim Kurulu Ba\u015fkan\u0131<\/td>\n<\/tr>\n<tr>\n<td>\u0130skender H\u00fcseyin Hakano\u011flu<\/td>\n<td>Y\u00f6netim Kurulu Ba\u015fkan Yard\u0131mc\u0131s\u0131<\/td>\n<\/tr>\n<tr>\n<td>G\u00fclhan K\u0131ra\u00e7<\/td>\n<td>\u00dcye<\/td>\n<\/tr>\n<tr>\n<td>Ahmet Can Y\u0131lmaz<\/td>\n<td>Ba\u011f\u0131ms\u0131z \u00dcye<\/td>\n<\/tr>\n<tr>\n<td>Meral Murat<\/td>\n<td>Ba\u011f\u0131ms\u0131z \u00dcye<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Komiteler ve Personel:<\/b><\/p>\n<ul>\n<li>Y\u00f6netim Kurulu b\u00fcnyesinde Denetimden Sorumlu Komite, Riskin Erken Saptanmas\u0131 Komitesi ve Kurumsal Y\u00f6netim Komitesi bulunmaktad\u0131r. Her \u00fc\u00e7 komitenin ba\u015fkanl\u0131\u011f\u0131n\u0131 da Ba\u011f\u0131ms\u0131z Y\u00f6netim Kurulu \u00dcyesi Ahmet Can Y\u0131lmaz y\u00fcr\u00fctmektedir.<\/li>\n<li>30 Eyl\u00fcl 2025 itibar\u0131yla \u015firketin toplam personel say\u0131s\u0131 146 ki\u015fidir (31 Aral\u0131k 2024: 147 ki\u015fi).<\/li>\n<\/ul>\n<h2>3. 2025 Y\u0131l\u0131 \u00d6nemli Kurumsal Geli\u015fmeler<\/h2>\n<p>Raporlama d\u00f6nemi, \u015firketin sermaye yap\u0131s\u0131n\u0131 ve stratejik y\u00f6nelimini etkileyen bir dizi \u00f6nemli karara sahne olmu\u015ftur.<\/p>\n<p><b>Bedelli Sermaye Art\u0131r\u0131m\u0131:<\/b> \u015eirket, 538.130.952 TL olan \u00e7\u0131kar\u0131lm\u0131\u015f sermayesini %100 oran\u0131nda bedelli art\u0131rarak 1.076.261.904 TL&#8217;ye y\u00fckseltmi\u015ftir. SPK taraf\u0131ndan 08.05.2025 tarihinde onaylanan bu i\u015flem sonucunda \u015firketin kasas\u0131na <b>541.910.627,21 TL<\/b> nakit giri\u015fi sa\u011flanm\u0131\u015ft\u0131r. Bu fon, \u00f6ncelikli olarak finansal bor\u00e7lar\u0131n kapat\u0131lmas\u0131nda kullan\u0131larak \u015firketin bilan\u00e7osunu g\u00fc\u00e7lendirmi\u015ftir.<\/p>\n<p><b>Formet D\u0131\u015f Ticaret A.\u015e. ile Birle\u015fme:<\/b> \u015eirket, %100 i\u015ftiraki olan Formet D\u0131\u015f Ticaret A.\u015e.&#8217;yi, kolayla\u015ft\u0131r\u0131lm\u0131\u015f birle\u015fme h\u00fck\u00fcmleri \u00e7er\u00e7evesinde devralm\u0131\u015ft\u0131r. Birle\u015fme i\u015flemi 10.02.2025 tarihinde tescil edilerek tamamlanm\u0131\u015ft\u0131r.<\/p>\n<p><b>\u0130mtiyazl\u0131 Pay Olu\u015fturulmas\u0131 ve Ayr\u0131lma Hakk\u0131:<\/b><\/p>\n<ul>\n<li>01.07.2025 tarihli Y\u00f6netim Kurulu karar\u0131yla, \u015firket paylar\u0131n\u0131n A ve B grubu olarak ayr\u0131lmas\u0131na karar verilmi\u015ftir.<\/li>\n<li>Kurucu ortak Mustafa Sezen&#8217;e ait 46.648.222 adet paya, y\u00f6netim kurulu \u00fcye say\u0131s\u0131n\u0131n yar\u0131s\u0131n\u0131 tayin etme ve genel kurulda her pay i\u00e7in be\u015f oy hakk\u0131 kullanma imtiyaz\u0131 tan\u0131nmas\u0131 planlanm\u0131\u015ft\u0131r.<\/li>\n<li>Ba\u015fvuru, SPK&#8217;n\u0131n 14.08.2025 tarihli toplant\u0131s\u0131nda olumlu kar\u015f\u0131lanm\u0131\u015ft\u0131r.<\/li>\n<li>Bu i\u015flem kapsam\u0131nda, ayr\u0131lma hakk\u0131 kullan\u0131m bedeli pay ba\u015f\u0131na <b>3,62 TL<\/b> olarak belirlenmi\u015f olup, bu bedelin Mustafa Sezen taraf\u0131ndan kar\u015f\u0131lanaca\u011f\u0131 a\u00e7\u0131klanm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<p><b>Planlanan Tahsisli Sermaye Art\u0131r\u0131m\u0131:<\/b><\/p>\n<ul>\n<li>16.09.2025 tarihli Y\u00f6netim Kurulu karar\u0131yla, mevcut ortaklar\u0131n r\u00fc\u00e7han haklar\u0131 tamamen k\u0131s\u0131tlanarak 832.000.000 TL tutar\u0131nda tahsisli (belirli yat\u0131r\u0131mc\u0131lara y\u00f6nelik) sermaye art\u0131r\u0131m\u0131 yap\u0131lmas\u0131na karar verilmi\u015ftir.<\/li>\n<li>Art\u0131r\u0131m sonras\u0131 \u00e7\u0131kar\u0131lm\u0131\u015f sermayenin 1.908.261.904 TL&#8217;ye ula\u015fmas\u0131 hedeflenmektedir.<\/li>\n<li>Paylar, Borsa \u0130stanbul Toptan Sat\u0131\u015flar Pazar\u0131&#8217;nda, aralar\u0131nda Mustafa Sezen, Mehmet P\u00fcsk\u00fcll\u00fc ve Ramazan Al\u0131c\u0131 gibi isimlerin de bulundu\u011fu 22 yat\u0131r\u0131mc\u0131ya tahsisli olarak sat\u0131lacakt\u0131r.<\/li>\n<li>Bu sermaye art\u0131r\u0131m\u0131 i\u00e7in SPK&#8217;ya 22.09.2025 tarihinde ba\u015fvuru yap\u0131lm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<p><b>Sosyal Sorumluluk:<\/b> \u015eirket, 03.06.2025 tarihinde DMD kas hastal\u0131\u011f\u0131yla m\u00fccadele eden bir \u00e7ocu\u011fun tedavisi i\u00e7in 100.000 TL ba\u011f\u0131\u015fta bulunmu\u015ftur.<\/p>\n<h2>4. Finansal Performans Analizi<\/h2>\n<p>\u015eirketin 2025 y\u0131l\u0131n\u0131n ilk dokuz ayl\u0131k finansal performans\u0131, artan sat\u0131\u015flara ra\u011fmen k\u00e2rl\u0131l\u0131kta ya\u015fanan keskin d\u00fc\u015f\u00fc\u015fle karakterize edilmektedir.<\/p>\n<p><b>Gelir Tablosu Analizi:<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>(TL)<\/td>\n<td><b>01.01.2025 &#8211; 30.09.2025<\/b><\/td>\n<td><b>01.01.2024 &#8211; 30.09.2024<\/b><\/td>\n<td>De\u011fi\u015fim<\/td>\n<\/tr>\n<tr>\n<td>Net Sat\u0131\u015flar<\/td>\n<td>693.749.423<\/td>\n<td>652.235.234<\/td>\n<td>+6%<\/td>\n<\/tr>\n<tr>\n<td>Br\u00fct K\u00e2r<\/td>\n<td>26.893.635<\/td>\n<td>151.981.487<\/td>\n<td>-82%<\/td>\n<\/tr>\n<tr>\n<td><b>Br\u00fct K\u00e2r Marj\u0131<\/b><\/td>\n<td><b>%4<\/b><\/td>\n<td><b>%23<\/b><\/td>\n<td>-19 pp<\/td>\n<\/tr>\n<tr>\n<td>Esas Faaliyet K\u00e2r\u0131\/Zarar\u0131<\/td>\n<td>(168.945.087)<\/td>\n<td>(33.448.549)<\/td>\n<td>-405%<\/td>\n<\/tr>\n<tr>\n<td><b>Faaliyet K\u00e2r Marj\u0131<\/b><\/td>\n<td><b>(%24)<\/b><\/td>\n<td><b>(%5)<\/b><\/td>\n<td>-19 pp<\/td>\n<\/tr>\n<tr>\n<td>D\u00f6nem Net K\u00e2r\u0131\/Zarar\u0131<\/td>\n<td>(125.455.390)<\/td>\n<td>(172.691.644)<\/td>\n<td>+27%<\/td>\n<\/tr>\n<tr>\n<td><b>Net K\u00e2r Marj\u0131<\/b><\/td>\n<td><b>(%18)<\/b><\/td>\n<td><b>(%26)<\/b><\/td>\n<td>+8 pp<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li><b>K\u00e2rl\u0131l\u0131k D\u00fc\u015f\u00fc\u015f\u00fc:<\/b> Net sat\u0131\u015flardaki %6&#8217;l\u0131k art\u0131\u015fa ra\u011fmen, br\u00fct k\u00e2r marj\u0131n\u0131n %23&#8217;ten %4&#8217;e dramatik bir \u015fekilde d\u00fc\u015fmesi, artan maliyetlerin sat\u0131\u015f fiyatlar\u0131na yans\u0131t\u0131lamad\u0131\u011f\u0131n\u0131 veya operasyonel verimsizliklerin artt\u0131\u011f\u0131n\u0131 g\u00f6stermektedir.<\/li>\n<li><b>Operasyonel Zarar:<\/b> K\u00e2rl\u0131l\u0131ktaki bu d\u00fc\u015f\u00fc\u015f, esas faaliyet zarar\u0131n\u0131n be\u015f kat\u0131na \u00e7\u0131karak 168,9 milyon TL&#8217;ye ula\u015fmas\u0131na neden olmu\u015ftur.<\/li>\n<li><b>Net Zarar:<\/b> Finansal giderler ve kur farklar\u0131n\u0131n bask\u0131s\u0131na ra\u011fmen, net zarar\u0131n bir \u00f6nceki y\u0131la g\u00f6re azalmas\u0131, muhtemelen ertelenmi\u015f vergi geliri gibi operasyonel olmayan kalemlerden kaynaklanmaktad\u0131r. Raporda, &#8220;K\u0131sa ve uzun vadeli y\u00fck\u00fcml\u00fcl\u00fckler i\u00e7indeki banka bor\u00e7lar\u0131 nedeniyle \u00f6denen finansal giderler ve d\u00f6vizli kredilerden kaynaklanan kur farklar\u0131, d\u00f6nem zarar\u0131n\u0131n olu\u015fmas\u0131ndaki en b\u00fcy\u00fck etken olmu\u015ftur&#8221; ifadesi yer almaktad\u0131r.<\/li>\n<\/ul>\n<p><b>Bilan\u00e7o Analizi:<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>(TL)<\/td>\n<td><b>30.09.2025<\/b><\/td>\n<td><b>31.12.2024<\/b><\/td>\n<td>De\u011fi\u015fim<\/td>\n<\/tr>\n<tr>\n<td>Nakit ve Nakit Benzerleri<\/td>\n<td>249.685.533<\/td>\n<td>58.073.348<\/td>\n<td>+330%<\/td>\n<\/tr>\n<tr>\n<td>Toplam Varl\u0131klar<\/td>\n<td>2.552.027.205<\/td>\n<td>2.408.130.115<\/td>\n<td>+6%<\/td>\n<\/tr>\n<tr>\n<td>K\u0131sa ve Uzun Vadeli Banka Bor\u00e7lar\u0131<\/td>\n<td>276.384.308<\/td>\n<td>507.961.223<\/td>\n<td>-46%<\/td>\n<\/tr>\n<tr>\n<td>Toplam Y\u00fck\u00fcml\u00fcl\u00fckler<\/td>\n<td>550.664.897<\/td>\n<td>972.674.061<\/td>\n<td>-43%<\/td>\n<\/tr>\n<tr>\n<td>\u00d6zkaynaklar<\/td>\n<td>2.001.362.308<\/td>\n<td>1.435.456.054<\/td>\n<td>+39%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li><b>G\u00fc\u00e7lenen Bilan\u00e7o:<\/b> Sermaye art\u0131r\u0131m\u0131ndan elde edilen nakit, banka bor\u00e7lar\u0131n\u0131n \u00f6nemli \u00f6l\u00e7\u00fcde azalt\u0131lmas\u0131n\u0131 sa\u011flam\u0131\u015ft\u0131r. Bu durum, hem toplam y\u00fck\u00fcml\u00fcl\u00fckleri d\u00fc\u015f\u00fcrm\u00fc\u015f hem de \u00f6zkaynaklar\u0131 kuvvetlendirmi\u015ftir.<\/li>\n<\/ul>\n<p><b>Finansal Oranlar ve Riskler:<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Oran<\/td>\n<td><b>30.09.2025<\/b><\/td>\n<td><b>31.12.2024<\/b><\/td>\n<td>Yorum<\/td>\n<\/tr>\n<tr>\n<td>Cari Oran<\/td>\n<td>2,16<\/td>\n<td>1,22<\/td>\n<td>Likidite durumu \u00f6nemli \u00f6l\u00e7\u00fcde iyile\u015fmi\u015ftir.<\/td>\n<\/tr>\n<tr>\n<td>Bor\u00e7lar Toplam\u0131 \/ Aktif Toplam\u0131<\/td>\n<td>%22<\/td>\n<td>%40<\/td>\n<td>Bor\u00e7luluk oran\u0131 yar\u0131 yar\u0131ya azalm\u0131\u015ft\u0131r.<\/td>\n<\/tr>\n<tr>\n<td>Bor\u00e7 \/ Sermaye Oran\u0131<\/td>\n<td>%18<\/td>\n<td>%176<\/td>\n<td>Sermaye yap\u0131s\u0131 bor\u00e7luluktan \u00f6zkayna\u011fa do\u011fru kaym\u0131\u015ft\u0131r.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li><b>Riskler:<\/b> Faaliyet raporu, <b>77.752.090 TL<\/b> tutar\u0131ndaki \u015f\u00fcpheli ticari alacaklar\u0131 \u00f6nemli bir risk olarak vurgulamaktad\u0131r. Ayr\u0131ca, 30.09.2025 itibar\u0131yla \u015firketin 28,1 milyon TL&#8217;lik net yabanc\u0131 para y\u00fck\u00fcml\u00fcl\u00fck pozisyonu bulunmaktad\u0131r; bu da \u015firketi kur dalgalanmalar\u0131na kar\u015f\u0131 hassas k\u0131lmaktad\u0131r.<\/li>\n<\/ul>\n<button class=\"simplefavorite-button\" data-postid=\"309\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>T\u00fcrkiye&#8217;nin Kap\u0131 Devi Zarar Ediyor: FORMET&#8217;in Finansal Raporundan \u00c7\u0131kan 5 \u015ea\u015f\u0131rt\u0131c\u0131 Ger\u00e7ek Giri\u015f: Bir Piyasa Liderinin Perde Arkas\u0131 Bir sekt\u00f6r\u00fcn zirvesinde olmak, her zaman finansal tablolar\u0131n da zirvede oldu\u011fu anlam\u0131na gelmez. Hatta bazen, pazar\u0131n en b\u00fcy\u00fck oyuncusunun perde arkas\u0131nda, d\u0131\u015far\u0131dan&#8230; <\/p>\n","protected":false},"author":1,"featured_media":310,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[62],"class_list":["post-309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-formt"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/309","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/comments?post=309"}],"version-history":[{"count":1,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/309\/revisions"}],"predecessor-version":[{"id":311,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/309\/revisions\/311"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media\/310"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media?parent=309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}