{"id":315,"date":"2025-12-20T21:55:52","date_gmt":"2025-12-20T18:55:52","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=315"},"modified":"2025-12-20T21:55:52","modified_gmt":"2025-12-20T18:55:52","slug":"%f0%9f%94%b4%f0%9f%87%b9%f0%9f%87%b7-desa-desa-deri-sanayi-2025-9-bilanco-analizi-%f0%9f%a7%bf","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/315","title":{"rendered":"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #DESA | Desa Deri Sanayi 2025\/9 Bilan\u00e7o Analizi |  \ud83e\uddff"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #DESA | Desa Deri Sanayi 2025\/9 Bilan\u00e7o Analizi |  \ud83e\uddff\" width=\"858\" height=\"483\" src=\"https:\/\/www.youtube.com\/embed\/xETpSsH_WbQ?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>Bir T\u00fcrk Deri Devinin Finans Raporlar\u0131nda Gizlenen 4 \u015ea\u015f\u0131rt\u0131c\u0131 Stratejik Hamle<\/h1>\n<p>Finansal raporlar&#8230; Genellikle s\u0131k\u0131c\u0131 rakamlar, tablolar ve dipnotlarla dolu, anla\u015f\u0131lmas\u0131 zor belgeler olarak g\u00f6r\u00fcl\u00fcrler. Ancak bazen, bu rakamlar\u0131n aras\u0131na gizlenmi\u015f, bir \u015firketin gelece\u011fe y\u00f6nelik cesur vizyonunu ve stratejik dehas\u0131n\u0131 anlatan bir hikaye bulursunuz. T\u00fcrkiye&#8217;nin \u00f6nde gelen deri \u00fcreticilerinden DESA&#8217;n\u0131n son finansal raporu, tam da b\u00f6yle bir hikaye anlat\u0131yor.<\/p>\n<p>Bu yaz\u0131da, bilan\u00e7olar\u0131n ve k\u00e2r-zarar tablolar\u0131n\u0131n derinliklerine inerek, DESA&#8217;n\u0131n sadece bug\u00fcn\u00fc y\u00f6netmekle kalmay\u0131p, gelece\u011fi nas\u0131l \u015fekillendirdi\u011fini g\u00f6steren en etkili ve \u015fa\u015f\u0131rt\u0131c\u0131 d\u00f6rt stratejik hamleyi mercek alt\u0131na alaca\u011f\u0131z.<\/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. Sadece \u0130hracat De\u011fil, Kaleyi \u0130\u00e7ten Fethetme: &#8220;Made in Italy&#8221; Hamlesi<\/h3>\n<p>Bir\u00e7ok \u00fcretici i\u00e7in ba\u015far\u0131, \u00fcr\u00fcnlerini yurt d\u0131\u015f\u0131na satmaktan ibarettir. DESA ise bu oyunun kurallar\u0131n\u0131 de\u011fi\u015ftirerek, l\u00fcks modan\u0131n kalbine do\u011frudan bir \u00e7\u0131karma yap\u0131yor. \u015eirket, s\u0131radan bir ihracat\u00e7\u0131 olman\u0131n \u00e7ok \u00f6tesine ge\u00e7en bir ad\u0131m atarak, \u0130talya&#8217;n\u0131n Poppi \u015fehrinde bir fabrika sat\u0131n ald\u0131.<\/p>\n<p>5 d\u00f6n\u00fcm arazi \u00fczerine kurulu, 1.896 m\u00b2 kapal\u0131 alana sahip bu tesis, deneme \u00fcretimine 2023 y\u0131l\u0131 May\u0131s ay\u0131nda ba\u015flad\u0131 ve 30 Eyl\u00fcl 2025 itibar\u0131yla \u00e7al\u0131\u015fan say\u0131s\u0131n\u0131 72&#8217;ye \u00e7\u0131kard\u0131. Ancak bu yat\u0131r\u0131m\u0131n as\u0131l stratejik dehas\u0131, fiziksel bir binadan \u00e7ok daha fazlas\u0131. DESA, bu hamleyle \u0130talya G\u00fcmr\u00fck \u0130daresi&#8217;nden kritik bir izin almay\u0131 ba\u015fard\u0131:<\/p>\n<p>\u201c\u00fcretimin iki \u00fclke aras\u0131nda b\u00f6l\u00fcnd\u00fc\u011f\u00fc durumlarda, \u00fcretimin nihai \u00fcr\u00fcn olarak tamamland\u0131\u011f\u0131 \u00fclke men\u015feini kazanmas\u0131n\u0131 onaylayan ve \u00fcretimin tamamlanmas\u0131ndan sonra &#8220;Made in Italy&#8221; olarak etiketlenmesine olanak veren g\u00fcmr\u00fck izni, Desa Internazionale SRL firmam\u0131z\u0131n ba\u015fvurusuna istinaden \u0130talya G\u00fcmr\u00fck \u0130daresinden al\u0131nm\u0131\u015ft\u0131r.\u201d<\/p>\n<p>Bu, sadece bir etiket de\u011fil; ayn\u0131 zamanda \u00fcst\u00fcn i\u015f\u00e7ilik, l\u00fcks ve tasar\u0131m miras\u0131yla k\u00fcresel olarak e\u015f anlaml\u0131 olan bir prestij ve k\u00fcresel pazarlara giri\u015f anahtar\u0131d\u0131r. Bu etiket, DESA&#8217;ya an\u0131nda kredibilite kazand\u0131rarak normalde n\u00fcfuz etmesi zor olan daha y\u00fcksek k\u00e2rl\u0131 pazarlara do\u011frudan eri\u015fim sa\u011fl\u0131yor. Bu strateji, DESA&#8217;y\u0131 l\u00fcks moda sekt\u00f6r\u00fcn\u00fcn merkezinde bir tedarik\u00e7i olmaktan \u00e7\u0131kar\u0131p, oyunun kurallar\u0131n\u0131 belirleyen bir oyuncu olma yolunda konumland\u0131r\u0131yor.<\/p>\n<h3>2. S\u00fcrd\u00fcr\u00fclebilirlik Sadece Rapor De\u011fil, Fabrikan\u0131n \u00c7at\u0131s\u0131<\/h3>\n<p>G\u00fcn\u00fcm\u00fczde bir\u00e7ok \u015firket s\u00fcrd\u00fcr\u00fclebilirlikten bahseder, ancak DESA bu konudaki iddias\u0131n\u0131 somut, \u00f6l\u00e7\u00fclebilir ve etkileyici eylemlerle destekliyor. \u015eirket, s\u00fcrd\u00fcr\u00fclebilirli\u011fi bir pazarlama slogan\u0131 olarak de\u011fil, bir i\u015f yap\u0131\u015f bi\u00e7imi olarak benimsedi\u011fini kan\u0131tl\u0131yor.<\/p>\n<p>Bunun en \u00e7arp\u0131c\u0131 \u00f6rne\u011fi, \u00c7orlu&#8217;daki deri \u00fcretim fabrikas\u0131n\u0131n \u00e7at\u0131s\u0131na kurulan G\u00fcne\u015f Enerji Santrali (GES). Bu yat\u0131r\u0131m, lafta kalmayan bir \u00e7evre bilincinin g\u00f6stergesi. Raporlara g\u00f6re bu santral, <b>fabrikan\u0131n elektrik ihtiyac\u0131n\u0131n &#8220;%80&#8217;den fazlas\u0131n\u0131&#8221;<\/b> kar\u015f\u0131l\u0131yor. Bu, hem maliyetleri d\u00fc\u015f\u00fcren hem de karbon ayak izini \u00f6nemli \u00f6l\u00e7\u00fcde azaltan ak\u0131ll\u0131ca bir hamle.<\/p>\n<p>DESA&#8217;n\u0131n bu alandaki ciddiyeti uluslararas\u0131 alanda da tescillenmi\u015f durumda. \u015eirket, su ve enerji kullan\u0131m\u0131, at\u0131k y\u00f6netimi gibi kritik kriterleri de\u011ferlendiren prestijli <b>&#8220;Leather Working Group&#8221; (LWG)<\/b> taraf\u0131ndan en \u00fcst seviye olan <b>&#8220;Alt\u0131n&#8221;<\/b> derece ile \u00f6d\u00fcllendirildi. Ayr\u0131ca, Ticaret Bakanl\u0131\u011f\u0131&#8217;n\u0131n y\u00fcr\u00fctt\u00fc\u011f\u00fc <b>&#8220;Responsible Program\u0131&#8221;na kabul edilen &#8220;ilk deri firmas\u0131&#8221;<\/b> olmas\u0131, DESA&#8217;n\u0131n sekt\u00f6rdeki \u00f6nc\u00fc ve vizyoner duru\u015funu peki\u015ftiriyor.<\/p>\n<h3>3. Derinin Gelece\u011fi Biyoteknolojide mi? DESA \u015eimdiden Pozisyon Al\u0131yor<\/h3>\n<p>Deri gibi as\u0131rl\u0131k bir sekt\u00f6rde faaliyet g\u00f6sterirken gelece\u011fin teknolojilerine yat\u0131r\u0131m yapmak, ger\u00e7ek bir vizyon gerektirir. DESA, bu konuda da ne kadar ileri g\u00f6r\u00fc\u015fl\u00fc oldu\u011funu kan\u0131tl\u0131yor. \u015eirket, geleneksel \u00fcretimin s\u0131n\u0131rlar\u0131n\u0131 zorlayarak biyoteknoloji alan\u0131na cesur bir ad\u0131m at\u0131yor.<\/p>\n<p>Raporda yer alan bilgilere g\u00f6re DESA, alan\u0131nda \u00f6nc\u00fc olan Gozen Bioworks Corp. (ABD) ve Gozen Institute (T\u00fcrkiye) ile bir ortak giri\u015fim kurmak \u00fczere g\u00f6r\u00fc\u015fmelere ba\u015flad\u0131. Bu i\u015f birli\u011finin amac\u0131 son derece net ve gelece\u011fe d\u00f6n\u00fck: <b>&#8220;hayvansal veya bitkisel olmayan, kimyasal i\u00e7ermeyen, biyolojik olarak par\u00e7alanabilir, yeni nesil materyallerin geli\u015ftirilmesi ve \u00fcretimi&#8221;<\/b>.<\/p>\n<p>Bu, sadece bir yat\u0131r\u0131m de\u011fil. Bu, DESA&#8217;n\u0131n kendini gelecekteki olas\u0131 bir end\u00fcstriyel d\u00f6n\u00fc\u015f\u00fcme kar\u015f\u0131 haz\u0131rlad\u0131\u011f\u0131, onu geleneksel bir \u00fcreticiden bir teknoloji ve inovasyon oyuncusuna d\u00f6n\u00fc\u015ft\u00fcrme potansiyeli ta\u015f\u0131yan stratejik bir pozisyon almad\u0131r. Derinin gelece\u011fi ba\u015fka materyallerde ise, DESA o gelecekte de var olmaya kararl\u0131.<\/p>\n<h3>4. Sekt\u00f6r Daral\u0131rken Vites B\u00fcy\u00fctmek: B\u00fcy\u00fcme ve Yat\u0131r\u0131m Paradoksu<\/h3>\n<p>Ekonomik raporlar genellikle makro trendleri yans\u0131t\u0131r. DESA&#8217;n\u0131n faaliyet raporu, T\u00fcrkiye deri sekt\u00f6r\u00fcn\u00fcn genel gidi\u015fat\u0131yla ilgili net bir tablo \u00e7iziyor: T\u00fcrkiye deri sekt\u00f6r\u00fcn\u00fcn ihracat\u0131, 2025&#8217;in ilk dokuz ay\u0131nda bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re <b>%4,4 oran\u0131nda azald\u0131.<\/b><\/p>\n<p>Peki, sekt\u00f6r\u00fcn geneli frene basarken DESA ne yap\u0131yor? Gaza bas\u0131yor. \u015eirket, bu daralmaya ra\u011fmen b\u00fcy\u00fcme odakl\u0131 ve cesur ad\u0131mlar atmaya devam ediyor:<\/p>\n<ul>\n<li><b>\u0130talya&#8217;da fabrika yat\u0131r\u0131m\u0131<\/b> yaparak l\u00fcks pazarda kendine yer a\u00e7\u0131yor.<\/li>\n<li>Avrupa&#8217;n\u0131n \u00f6nde gelen e-ticaret platformlar\u0131 <b>Zalando, Bol.com ve Amazon<\/b> \u00fczerinden <b>18 farkl\u0131 \u00fclkede<\/b> online sat\u0131\u015f yaparak k\u00fcresel eri\u015fimini art\u0131r\u0131yor.<\/li>\n<li>D\u00fczce Organize Sanayi B\u00f6lgesi&#8217;nde yeni bir end\u00fcstriyel tesis kurmak \u00fczere <b>60.000 metrekarelik dev bir arsa<\/b> i\u00e7in \u00f6n tahsis protokol\u00fc imzal\u0131yor.<\/li>\n<li>Zorlu piyasa ko\u015fullar\u0131na ra\u011fmen <b>yurt i\u00e7i sat\u0131\u015flar\u0131n\u0131 2 milyar TL&#8217;den 2.37 milyar TL&#8217;ye y\u00fckseltiyor.<\/b><\/li>\n<\/ul>\n<p>Bu z\u0131tl\u0131k, DESA&#8217;n\u0131n stratejik derinli\u011fini g\u00f6zler \u00f6n\u00fcne seriyor. \u015eirket, k\u0131sa vadeli sekt\u00f6rel dalgalanmalara tak\u0131lmadan, uzun vadeli k\u00fcresel b\u00fcy\u00fcme vizyonuna ve i\u00e7 pazardaki sars\u0131lmaz g\u00fcc\u00fcne yat\u0131r\u0131m yapmaya devam ediyor. Bu, \u015firketin sadece zor zamanlara dayan\u0131kl\u0131 olmad\u0131\u011f\u0131n\u0131, ayn\u0131 zamanda bu zamanlar\u0131 birer f\u0131rsata \u00e7evirme yetene\u011fine sahip oldu\u011funu g\u00f6steriyor. Bu, DESA&#8217;n\u0131n kriz anlar\u0131n\u0131 bir savunma pozisyonundan ziyade, pazar pay\u0131 kazanmak i\u00e7in bir h\u00fccum f\u0131rsat\u0131 olarak g\u00f6rd\u00fc\u011f\u00fcn\u00fc kan\u0131tl\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>Sonu\u00e7<\/h3>\n<p>DESA&#8217;n\u0131n finansal raporlar\u0131, rakamlar\u0131n arkas\u0131na bakmay\u0131 bilenler i\u00e7in heyecan verici bir strateji belgesi niteli\u011finde. \u0130talya&#8217;daki \u00fcretim \u00fcss\u00fcnden biyoteknoloji ortakl\u0131\u011f\u0131na, fabrikas\u0131n\u0131n \u00e7at\u0131s\u0131ndaki g\u00fcne\u015f panellerinden 18 \u00fclkeye uzanan e-ticaret a\u011f\u0131na kadar her bir hamle, \u015firketin gelece\u011fi tesad\u00fcflere b\u0131rakmad\u0131\u011f\u0131n\u0131 g\u00f6steriyor.<\/p>\n<p>Bu noktada akla \u015fu soru geliyor: Geleneksel bir sekt\u00f6rde faaliyet g\u00f6steren bir \u015firketin bu yenilik\u00e7i ve cesur ad\u0131mlar\u0131, gelecekte ayakta kalman\u0131n ve sekt\u00f6re liderlik etmenin yeni bir yol haritas\u0131 olabilir mi?<\/p>\n<p>&nbsp;<\/p>\n<h1><span style=\"color: #0000ff;\">DESA Deri Sanayi ve Ticaret A.\u015e. &#8211; 2025 Dokuz Ayl\u0131k D\u00f6nem De\u011ferlendirmesi<\/span><\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu brifing, DESA Deri Sanayi ve Ticaret A.\u015e.&#8217;nin (&#8220;\u015eirket&#8221; veya &#8220;Grup&#8221;) 30 Eyl\u00fcl 2025&#8217;te sona eren dokuz ayl\u0131k d\u00f6neme ait finansal ve operasyonel performans\u0131n\u0131, stratejik giri\u015fimlerini ve gelecek hedeflerini \u00f6zetlemektedir. Rapor, \u015eirket&#8217;in finansal tablolar\u0131 ve Y\u00f6netim Kurulu Faaliyet Raporu&#8217;ndan derlenen kapsaml\u0131 verilere dayanmaktad\u0131r.<\/p>\n<p><b>Temel Finansal G\u00f6stergeler:<\/b> \u015eirket, 2025&#8217;in ilk dokuz ay\u0131nda g\u00fc\u00e7l\u00fc bir performans sergilemi\u015ftir. Net sat\u0131\u015flar, bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine k\u0131yasla yatay bir seyir izleyerek 2,79 milyar TL olarak ger\u00e7ekle\u015fmi\u015ftir. Bu d\u00f6nemde yurt i\u00e7i sat\u0131\u015flar artarken, ihracatta sekt\u00f6rel daralmaya paralel bir d\u00fc\u015f\u00fc\u015f g\u00f6zlenmi\u015ftir. Esas faaliyet k\u00e2r\u0131 586 milyon TL&#8217;ye y\u00fckselirken, net d\u00f6nem k\u00e2r\u0131 374 milyon TL olmu\u015ftur. \u015eirketin toplam varl\u0131klar\u0131 5,28 milyar TL&#8217;ye, \u00f6zkaynaklar\u0131 ise 3,70 milyar TL&#8217;ye ula\u015farak bilan\u00e7osunu daha da g\u00fc\u00e7lendirmi\u015ftir. Finansal tablolar, TMS 29 standard\u0131 uyar\u0131nca y\u00fcksek enflasyon etkilerine g\u00f6re d\u00fczeltilmi\u015ftir.<\/p>\n<p><b>Stratejik ve Operasyonel Ba\u015far\u0131lar:<\/b> D\u00f6nemin en \u00f6nemli geli\u015fmelerinden biri, \u00e7\u0131kar\u0131lm\u0131\u015f sermayenin i\u00e7 kaynaklardan %100 bedelsiz art\u0131r\u0131larak 245 milyon TL&#8217;den 490 milyon TL&#8217;ye y\u00fckseltilmesidir. \u0130talya&#8217;daki fabrika yat\u0131r\u0131m\u0131 tamamlanm\u0131\u015f, &#8220;Made in Italy&#8221; etiketleme izni al\u0131nm\u0131\u015f ve 72 ki\u015filik bir ekiple \u00fcretime ba\u015flanm\u0131\u015ft\u0131r. S\u00fcrd\u00fcr\u00fclebilirlik alan\u0131nda, \u00c7orlu&#8217;daki deri fabrikas\u0131n\u0131n \u00e7at\u0131s\u0131na kurulan G\u00fcne\u015f Enerjisi Santrali (GES) projesi devreye al\u0131narak tesisin elektrik ihtiyac\u0131n\u0131n %80&#8217;inden fazlas\u0131 kar\u015f\u0131lanmaya ba\u015flanm\u0131\u015ft\u0131r. \u015eirket, ayr\u0131ca Leather Working Group (LWG) taraf\u0131ndan &#8220;Alt\u0131n Derece&#8221; ile \u00f6d\u00fcllendirilmi\u015f ve Ticaret Bakanl\u0131\u011f\u0131&#8217;n\u0131n &#8220;Responsible Program\u0131&#8221;na kabul edilen ilk deri firmas\u0131 olmu\u015ftur.<\/p>\n<p><b>B\u00fcy\u00fcme ve Gelecek Vizyonu:<\/b> DESA, \u00e7ok uluslu bir perakende markas\u0131 olma hedefine y\u00f6nelik ad\u0131mlar\u0131n\u0131 h\u0131zland\u0131rm\u0131\u015ft\u0131r. &#8220;NINETEENSEVENTYTWO DESA&#8221; koleksiyonu, Paris ve Milano moda haftalar\u0131nda sergilenerek d\u00fcnya genelinde 120&#8217;den fazla se\u00e7kin lokasyonda sat\u0131\u015fa sunulmu\u015ftur. E-ticaret kanallar\u0131, aralar\u0131nda Zalando ve Amazon&#8217;un da bulundu\u011fu platformlar arac\u0131l\u0131\u011f\u0131yla 18 \u00fclkeye geni\u015fletilmi\u015ftir. D\u00f6nem sonras\u0131 \u00f6nemli bir geli\u015fme olarak, biyoteknoloji alan\u0131nda yeni nesil materyaller geli\u015ftirmek \u00fczere Gozen Bioworks Corp. ile bir ortak giri\u015fim kurulmas\u0131 i\u00e7in niyet mektubu g\u00f6r\u00fc\u015fmelerine ba\u015flanm\u0131\u015ft\u0131r. Bu giri\u015fim, \u015eirket&#8217;in inovasyon ve s\u00fcrd\u00fcr\u00fclebilirlik alan\u0131ndaki \u00f6nc\u00fc konumunu peki\u015ftirme potansiyeli ta\u015f\u0131maktad\u0131r.<\/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>1. Kurumsal Yap\u0131 ve Y\u00f6netim<\/h2>\n<h3>1.1. \u015eirket Profili<\/h3>\n<p>1972 y\u0131l\u0131nda kurulan DESA Deri Sanayi ve Ticaret A.\u015e., T\u00fcrkiye&#8217;nin lider deri ve deri mamulleri \u00fcreticilerinden biridir. \u015eirket, deri tabaklama, konfeksiyon, \u00e7anta, ayakkab\u0131 ve saraciye \u00fcretimi ile bu \u00fcr\u00fcnlerin perakende ve toptan sat\u0131\u015f\u0131n\u0131 kapsayan dikey entegre bir i\u015f modeline sahiptir. \u015eirket&#8217;in merkezi \u0130stanbul&#8217;dad\u0131r ve \u00fcretim faaliyetlerini d\u00f6rt fabrikada s\u00fcrd\u00fcrmektedir:<\/p>\n<ul>\n<li><b>Sefak\u00f6y Fabrika (\u0130stanbul):<\/b> Genel M\u00fcd\u00fcrl\u00fck binas\u0131n\u0131n da bulundu\u011fu konfeksiyon ve saraciye \u00fcretim tesisi.<\/li>\n<li><b>Ergene (\u00c7orlu) Fabrika:<\/b> Deri tabakhanesi olarak faaliyet g\u00f6steren tesis.<\/li>\n<li><b>D\u00fczce Fabrika:<\/b> Konfeksiyon ve saraciye \u00fcretim tesisi.<\/li>\n<li><b>Poppi Fabrika (\u0130talya):<\/b> Ar-Ge merkezi ve \u00fcretim tesisi.<\/li>\n<\/ul>\n<p>\u015eirket hisseleri 6 May\u0131s 2004&#8217;ten beri Borsa \u0130stanbul&#8217;da (BIST) i\u015flem g\u00f6rmekte olup, 30 Eyl\u00fcl 2025 itibar\u0131yla halka a\u00e7\u0131kl\u0131k oran\u0131 %17,97&#8217;dir.<\/p>\n<h3>1.2. Sermaye ve Ortakl\u0131k Yap\u0131s\u0131<\/h3>\n<p>\u015eirket, 2007 y\u0131l\u0131nda kay\u0131tl\u0131 sermaye sistemine ge\u00e7mi\u015f olup, kay\u0131tl\u0131 sermaye tavan\u0131 750.000.000 TL&#8217;dir. 22 Ocak 2025&#8217;te tescil edilen i\u015flemle, \u015eirket&#8217;in 245.000.000 TL olan \u00e7\u0131kar\u0131lm\u0131\u015f sermayesi, tamam\u0131 i\u00e7 kaynaklardan (Sermaye D\u00fczeltmesi Olumlu Farklar\u0131) kar\u015f\u0131lanarak %100 oran\u0131nda art\u0131r\u0131mla 490.000.000 TL&#8217;ye y\u00fckseltilmi\u015ftir.<\/p>\n<p>\u015eirketin oy haklar\u0131nda imtiyaz bulunmaktad\u0131r; Genel Kurul&#8217;da A grubu nama yaz\u0131l\u0131 paylar\u0131n 15, B grubu hamiline yaz\u0131l\u0131 paylar\u0131n ise 1 oy hakk\u0131 vard\u0131r.<\/p>\n<p><b>30 Eyl\u00fcl 2025 \u0130tibar\u0131yla Ortakl\u0131k Yap\u0131s\u0131:<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Ortak Ad\u0131\/Unvan\u0131<\/td>\n<td>Pay Oran\u0131 (%)<\/td>\n<td>Pay Tutar\u0131 (TL)<\/td>\n<\/tr>\n<tr>\n<td>\u00c7elet Holding A.\u015e.<\/td>\n<td>62,67%<\/td>\n<td>307.081.397<\/td>\n<\/tr>\n<tr>\n<td>Melih \u00c7elet<\/td>\n<td>18,56%<\/td>\n<td>90.945.674<\/td>\n<\/tr>\n<tr>\n<td>Halka A\u00e7\u0131k K\u0131s\u0131m<\/td>\n<td>17,97%<\/td>\n<td>88.052.929<\/td>\n<\/tr>\n<tr>\n<td>Di\u011fer<\/td>\n<td>0,80%<\/td>\n<td>3.920.000<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam<\/b><\/td>\n<td><b>100,00%<\/b><\/td>\n<td><b>490.000.000<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><i>Not: Halka a\u00e7\u0131k k\u0131s\u0131m i\u00e7erisinde Adesa Ma\u011fazac\u0131l\u0131k A.\u015e.&#8217;ye ait %1,34, Melih \u00c7elet&#8217;e ait %8,56 ve \u00c7elet Holding A.\u015e.&#8217;ye ait %8,39 oran\u0131nda paylar bulunmaktad\u0131r.<\/i><\/p>\n<h3>1.3. Y\u00f6netim Kurulu ve Komiteler<\/h3>\n<p>\u015eirket y\u00f6netimi, deneyimli bir Y\u00f6netim Kurulu taraf\u0131ndan y\u00fcr\u00fct\u00fclmektedir. 01 Ocak \u2013 30 Eyl\u00fcl 2025 d\u00f6neminde Y\u00f6netim Kurulu 35 defa toplanm\u0131\u015ft\u0131r. Kurumsal y\u00f6netim ilkeleri do\u011frultusunda faaliyet g\u00f6steren komiteler \u015funlard\u0131r:<\/p>\n<ul>\n<li><b>Denetim Komitesi:<\/b> Finansal raporlama, i\u00e7 kontrol sistemi ve ba\u011f\u0131ms\u0131z denetim s\u00fcre\u00e7lerinin g\u00f6zetimini yapar.<\/li>\n<li><b>Kurumsal Y\u00f6netim Komitesi:<\/b> \u015eirketin kurumsal y\u00f6netim ilkelerine uyumunu izler, aday belirleme ve \u00fccretlendirme konular\u0131nda \u00e7al\u0131\u015f\u0131r.<\/li>\n<li><b>Riskin Erken Saptanmas\u0131 Komitesi:<\/b> \u015eirketin varl\u0131\u011f\u0131n\u0131 tehlikeye atabilecek risklerin erken te\u015fhisi ve y\u00f6netimi i\u00e7in \u00f6neriler sunar.<\/li>\n<li><b>S\u00fcrd\u00fcr\u00fclebilirlik Komitesi:<\/b> S\u00fcrd\u00fcr\u00fclebilirlik stratejilerinin belirlenmesi, uygulanmas\u0131 ve raporlanmas\u0131ndan sorumludur.<\/li>\n<\/ul>\n<h3>1.4. \u0130\u015ftirakler ve Ba\u011fl\u0131 Ortakl\u0131klar<\/h3>\n<p>Grup, yurt i\u00e7i ve yurt d\u0131\u015f\u0131nda \u00e7e\u015fitli i\u015ftirak ve ba\u011fl\u0131 ortakl\u0131klara sahiptir.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>\u015eirket Unvan\u0131<\/td>\n<td>Faaliyet Alan\u0131<\/td>\n<td>\u0130\u015f Merkezi<\/td>\n<td>\u0130\u015ftirak Oran\u0131 (%) (30.09.2025)<\/td>\n<\/tr>\n<tr>\n<td><b>\u0130\u015ftirakler<\/b><\/td>\n<td>&nbsp;<\/td>\n<td>&nbsp;<\/td>\n<td>&nbsp;<\/td>\n<\/tr>\n<tr>\n<td>Marfar Deri San. ve Tic. Ltd. \u015eti.<\/td>\n<td>Tekstil<\/td>\n<td>\u0130stanbul-T\u00fcrkiye<\/td>\n<td>50%<\/td>\n<\/tr>\n<tr>\n<td>Samsonite Seyahat \u00dcr. A.\u015e.<\/td>\n<td>Tekstil<\/td>\n<td>\u0130stanbul-T\u00fcrkiye<\/td>\n<td>40%<\/td>\n<\/tr>\n<tr>\n<td><b>Ba\u011fl\u0131 Ortakl\u0131klar<\/b><\/td>\n<td>&nbsp;<\/td>\n<td>&nbsp;<\/td>\n<td>&nbsp;<\/td>\n<\/tr>\n<tr>\n<td>Desa International Limited<\/td>\n<td>Tekstil<\/td>\n<td>Londra-\u0130ngiltere<\/td>\n<td>100%<\/td>\n<\/tr>\n<tr>\n<td>Desa Internazionale SRL<\/td>\n<td>Tekstil<\/td>\n<td>Milano-\u0130talya<\/td>\n<td>100%<\/td>\n<\/tr>\n<tr>\n<td>Desa Deutschland GmbH<\/td>\n<td>Tekstil<\/td>\n<td>D\u00fcsseldorf-Almanya<\/td>\n<td>100%<\/td>\n<\/tr>\n<tr>\n<td>Leather Fashion Bulgaria EOOD<\/td>\n<td>Tekstil<\/td>\n<td>Sofya-Bulgaristan<\/td>\n<td>100%<\/td>\n<\/tr>\n<tr>\n<td>Celentano Artisans Tekstil Ltd.<\/td>\n<td>Tekstil<\/td>\n<td>\u0130stanbul-T\u00fcrkiye<\/td>\n<td>100%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\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. 2025 \u0130lk Dokuz Ayl\u0131k Finansal Performans<\/h2>\n<p>\u015eirketin 1 Ocak &#8211; 30 Eyl\u00fcl 2025 d\u00f6nemine ait konsolide finansal tablolar\u0131, TFRS ve TMS 29 &#8220;Y\u00fcksek Enflasyonlu Ekonomilerde Finansal Raporlama&#8221; standard\u0131na uygun olarak haz\u0131rlanm\u0131\u015ft\u0131r. T\u00fcm tutarlar, 30 Eyl\u00fcl 2025 tarihindeki T\u00fcrk Liras\u0131&#8217;n\u0131n sat\u0131n alma g\u00fcc\u00fc ile ifade edilmi\u015ftir.<\/p>\n<h3>2.1. Finansal Durum Tablosu (Bilan\u00e7o) Analizi<\/h3>\n<p>\u015eirketin finansal durumu, y\u0131l sonuna g\u00f6re varl\u0131k ve \u00f6zkaynaklardaki art\u0131\u015fla g\u00fc\u00e7lenmi\u015ftir.<\/p>\n<p><b>\u00d6zet Finansal Durum Tablosu (milyon TL):<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem<\/td>\n<td>30 Eyl\u00fcl 2025<\/td>\n<td>31 Aral\u0131k 2024<\/td>\n<td>De\u011fi\u015fim (%)<\/td>\n<\/tr>\n<tr>\n<td><b>D\u00f6nen Varl\u0131klar<\/b><\/td>\n<td>3.641,5<\/td>\n<td>3.273,6<\/td>\n<td>+11,2%<\/td>\n<\/tr>\n<tr>\n<td>Stoklar<\/td>\n<td>1.219,7<\/td>\n<td>805,0<\/td>\n<td>+51,5%<\/td>\n<\/tr>\n<tr>\n<td>Finansal Yat\u0131r\u0131mlar<\/td>\n<td>1.699,5<\/td>\n<td>1.807,7<\/td>\n<td>-6,0%<\/td>\n<\/tr>\n<tr>\n<td><b>Duran Varl\u0131klar<\/b><\/td>\n<td>1.634,3<\/td>\n<td>1.714,9<\/td>\n<td>-4,7%<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Varl\u0131klar<\/b><\/td>\n<td><b>5.275,8<\/b><\/td>\n<td><b>4.988,4<\/b><\/td>\n<td><b>+5,8%<\/b><\/td>\n<\/tr>\n<tr>\n<td>&nbsp;<\/td>\n<td>&nbsp;<\/td>\n<td>&nbsp;<\/td>\n<td>&nbsp;<\/td>\n<\/tr>\n<tr>\n<td><b>K\u0131sa Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler<\/b><\/td>\n<td>1.273,8<\/td>\n<td>1.412,8<\/td>\n<td>-9,8%<\/td>\n<\/tr>\n<tr>\n<td><b>Uzun Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler<\/b><\/td>\n<td>300,9<\/td>\n<td>215,6<\/td>\n<td>+39,6%<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Y\u00fck\u00fcml\u00fcl\u00fckler<\/b><\/td>\n<td><b>1.574,7<\/b><\/td>\n<td><b>1.628,4<\/b><\/td>\n<td><b>-3,3%<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>\u00d6zkaynaklar<\/b><\/td>\n<td><b>3.701,1<\/b><\/td>\n<td><b>3.360,0<\/b><\/td>\n<td><b>+10,1%<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Kaynaklar<\/b><\/td>\n<td><b>5.275,8<\/b><\/td>\n<td><b>4.988,4<\/b><\/td>\n<td><b>+5,8%<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li><b>Varl\u0131klar:<\/b> Toplam varl\u0131klar %5,8 art\u0131\u015fla 5,28 milyar TL&#8217;ye ula\u015fm\u0131\u015ft\u0131r. Bu art\u0131\u015fta en \u00f6nemli etken, %51,5&#8217;lik bir y\u00fckseli\u015fle 1,22 milyar TL&#8217;ye ula\u015fan stoklar olmu\u015ftur. Nakit ve nakit benzerleri de 29,8 milyon TL&#8217;den 89 milyon TL&#8217;ye y\u00fckselmi\u015ftir.<\/li>\n<li><b>Y\u00fck\u00fcml\u00fcl\u00fckler:<\/b> Toplam y\u00fck\u00fcml\u00fcl\u00fckler %3,3 azalarak 1,57 milyar TL&#8217;ye gerilemi\u015ftir. Bu durum, finansal yap\u0131n\u0131n g\u00fc\u00e7lendi\u011fini g\u00f6stermektedir. \u00c7al\u0131\u015fanlara sa\u011flanan faydalara ili\u015fkin uzun vadeli kar\u015f\u0131l\u0131klar (k\u0131dem tazminat\u0131) 25,2 milyon TL&#8217;den 47,8 milyon TL&#8217;ye y\u00fckselmi\u015ftir.<\/li>\n<li><b>\u00d6zkaynaklar:<\/b> \u00d6zkaynaklar, d\u00f6nem k\u00e2r\u0131 ve sermaye art\u0131\u015f\u0131n\u0131n etkisiyle %10,1 artarak 3,70 milyar TL&#8217;ye ula\u015fm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<h3>2.2. K\u00e2r veya Zarar Tablosu Analizi<\/h3>\n<p>\u015eirket, 2025&#8217;in ilk dokuz ay\u0131nda k\u00e2rl\u0131l\u0131\u011f\u0131n\u0131 korumu\u015ftur.<\/p>\n<p><b>\u00d6zet K\u00e2r veya Zarar Tablosu (milyon TL):<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem<\/td>\n<td>1 Ocak &#8211; 30 Eyl\u00fcl 2025<\/td>\n<td>1 Ocak &#8211; 30 Eyl\u00fcl 2024<\/td>\n<td>De\u011fi\u015fim (%)<\/td>\n<\/tr>\n<tr>\n<td><b>Has\u0131lat (Net Sat\u0131\u015flar)<\/b><\/td>\n<td><b>2.789,7<\/b><\/td>\n<td><b>2.764,8<\/b><\/td>\n<td><b>+0,9%<\/b><\/td>\n<\/tr>\n<tr>\n<td><i>Yurt \u0130\u00e7i Sat\u0131\u015flar<\/i><\/td>\n<td><i>2.376,8<\/i><\/td>\n<td><i>2.031,0<\/i><\/td>\n<td><i>+17,0%<\/i><\/td>\n<\/tr>\n<tr>\n<td><i>\u0130hracat<\/i><\/td>\n<td><i>412,9<\/i><\/td>\n<td><i>733,8<\/i><\/td>\n<td><i>-43,7%<\/i><\/td>\n<\/tr>\n<tr>\n<td><b>Br\u00fct K\u00e2r<\/b><\/td>\n<td>1.571,8<\/td>\n<td>1.579,3<\/td>\n<td>-0,5%<\/td>\n<\/tr>\n<tr>\n<td><b>Esas Faaliyet K\u00e2r\u0131<\/b><\/td>\n<td>585,8<\/td>\n<td>557,1<\/td>\n<td>+5,1%<\/td>\n<\/tr>\n<tr>\n<td>Ara\u015ft\u0131rma ve Geli\u015ftirme Giderleri (-)<\/td>\n<td>(12,9)<\/td>\n<td>(14,8)<\/td>\n<td>-12,8%<\/td>\n<\/tr>\n<tr>\n<td><b>Vergi \u00d6ncesi K\u00e2r<\/b><\/td>\n<td>581,5<\/td>\n<td>568,2<\/td>\n<td>+2,3%<\/td>\n<\/tr>\n<tr>\n<td><b>Net D\u00f6nem K\u00e2r\u0131<\/b><\/td>\n<td><b>373,9<\/b><\/td>\n<td><b>380,2<\/b><\/td>\n<td><b>-1,7%<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li><b>Has\u0131lat:<\/b> Net sat\u0131\u015flar, bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re %0,9&#8217;luk s\u0131n\u0131rl\u0131 bir art\u0131\u015fla 2,79 milyar TL olarak ger\u00e7ekle\u015fmi\u015ftir. Yurt i\u00e7i sat\u0131\u015flardaki %17&#8217;lik g\u00fc\u00e7l\u00fc art\u0131\u015f, ihracattaki %43,7&#8217;lik d\u00fc\u015f\u00fc\u015f\u00fc telafi etmi\u015ftir. \u0130hracattaki gerileme, genel olarak deri sekt\u00f6r\u00fcnde ya\u015fanan k\u00fcresel daralmayla uyumludur.<\/li>\n<li><b>K\u00e2rl\u0131l\u0131k:<\/b> Br\u00fct k\u00e2r marj\u0131 stabil kal\u0131rken, operasyonel verimlilik sayesinde esas faaliyet k\u00e2r\u0131 %5,1 art\u0131\u015fla 586 milyon TL&#8217;ye y\u00fckselmi\u015ftir. Net d\u00f6nem k\u00e2r\u0131 ise 374 milyon TL olarak ger\u00e7ekle\u015fmi\u015ftir.<\/li>\n<li><b>Giderler:<\/b> Ara\u015ft\u0131rma ve geli\u015ftirme harcamalar\u0131 12,9 milyon TL olmu\u015ftur.<\/li>\n<\/ul>\n<h3>2.3. Nakit Ak\u0131\u015f Tablosu Analizi<\/h3>\n<p>\u015eirketin nakit yaratma kabiliyeti, \u00f6nceki y\u0131la g\u00f6re \u00f6nemli \u00f6l\u00e7\u00fcde iyile\u015fmi\u015ftir.<\/p>\n<ul>\n<li><b>\u0130\u015fletme Faaliyetlerinden Nakit Ak\u0131\u015flar\u0131:<\/b> 2024&#8217;\u00fcn ilk dokuz ay\u0131nda 239,8 milyon TL negatif nakit ak\u0131\u015f\u0131na kar\u015f\u0131n, 2025&#8217;in ayn\u0131 d\u00f6neminde 445,8 milyon TL pozitif nakit ak\u0131\u015f\u0131 yarat\u0131lm\u0131\u015ft\u0131r. Bu iyile\u015fme, i\u015fletme sermayesi y\u00f6netimindeki etkinli\u011fi g\u00f6stermektedir.<\/li>\n<li><b>Yat\u0131r\u0131m Faaliyetlerinden Nakit Ak\u0131\u015flar\u0131:<\/b> Maddi ve maddi olmayan duran varl\u0131k al\u0131mlar\u0131 nedeniyle 16,9 milyon TL nakit \u00e7\u0131k\u0131\u015f\u0131 olmu\u015ftur.<\/li>\n<li><b>Finansman Faaliyetlerinden Nakit Ak\u0131\u015flar\u0131:<\/b> Kredi ve kira borcu \u00f6demeleri ile 32,4 milyon TL&#8217;lik k\u00e2r pay\u0131 da\u011f\u0131t\u0131m\u0131 nedeniyle 363,7 milyon TL nakit \u00e7\u0131k\u0131\u015f\u0131 ya\u015fanm\u0131\u015ft\u0131r.<\/li>\n<li><b>Net Sonu\u00e7:<\/b> D\u00f6nem sonunda nakit ve nakit benzerlerinde 65,2 milyon TL&#8217;lik net art\u0131\u015f 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>3. Operasyonel Faaliyetler ve Stratejik Geli\u015fmeler<\/h2>\n<h3>3.1. \u00dcretim Faaliyetleri ve Kapasite Kullan\u0131m\u0131<\/h3>\n<p>\u015eirket, d\u00f6rt modern \u00fcretim tesisinde faaliyet g\u00f6stermektedir. D\u00f6nem i\u00e7inde kapasite kullan\u0131m oranlar\u0131nda \u00f6nemli art\u0131\u015flar sa\u011flanm\u0131\u015ft\u0131r.<\/p>\n<p><b>Tesis Baz\u0131nda Haftal\u0131k \u00dcretim Kapasiteleri:<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Fabrika<\/td>\n<td>\u00dcr\u00fcn Cinsi<\/td>\n<td>Haftal\u0131k Kapasite<\/td>\n<\/tr>\n<tr>\n<td><b>\u00c7orlu<\/b><\/td>\n<td>B\u00fcy\u00fckba\u015f Deri<\/td>\n<td>28.850 kg<\/td>\n<\/tr>\n<tr>\n<td>&nbsp;<\/td>\n<td>K\u00fc\u00e7\u00fckba\u015f Deri<\/td>\n<td>170.200 kg<\/td>\n<\/tr>\n<tr>\n<td><b>Sefak\u00f6y<\/b><\/td>\n<td>Konfeksiyon<\/td>\n<td>1.786 adet<\/td>\n<\/tr>\n<tr>\n<td>&nbsp;<\/td>\n<td>Deri \u00c7anta ve Saraciye<\/td>\n<td>7.355 adet<\/td>\n<\/tr>\n<tr>\n<td><b>D\u00fczce<\/b><\/td>\n<td>\u00c7anta ve Saraciye<\/td>\n<td>14.480 adet<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Kapasite Kullan\u0131m Oranlar\u0131 (KKO) ve \u00dcretim Adetleri:<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kategori<\/td>\n<td>Ocak-Eyl\u00fcl 2024 (Adet\/KKO)<\/td>\n<td>Ocak-Eyl\u00fcl 2025 (Adet\/KKO)<\/td>\n<\/tr>\n<tr>\n<td>\u00c7anta<\/td>\n<td>127.109 \/ 22,50%<\/td>\n<td>158.976 \/ 28,10%<\/td>\n<\/tr>\n<tr>\n<td>Saraciye<\/td>\n<td>56.666 \/ 18,50%<\/td>\n<td>129.203 \/ 42,20%<\/td>\n<\/tr>\n<tr>\n<td>Konfeksiyon<\/td>\n<td>17.990 \/ 20,30%<\/td>\n<td>18.239 \/ 20,60%<\/td>\n<\/tr>\n<tr>\n<td>K\u00fc\u00e7\u00fckba\u015f Deri (Ayak)<\/td>\n<td>1.060.947 \/ 14,30%<\/td>\n<td>1.394.967 \/ 28,20%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>3.2. Yat\u0131r\u0131mlar ve B\u00fcy\u00fcme Stratejisi<\/h3>\n<ul>\n<li><b>\u0130talya Fabrikas\u0131:<\/b> Arezzo \u015fehrine ba\u011fl\u0131 Poppi&#8217;de 1.896 m\u00b2 kapal\u0131 alana sahip tesisin sat\u0131n al\u0131m\u0131 tamamlanm\u0131\u015f ve 16 May\u0131s 2024&#8217;te &#8220;Made in Italy&#8221; etiketlemesine olanak veren g\u00fcmr\u00fck izni al\u0131nm\u0131\u015ft\u0131r. 30 Eyl\u00fcl 2025 itibar\u0131yla tesiste 72 ki\u015fi istihdam edilmektedir.<\/li>\n<li><b>G\u00fcne\u015f Enerjisi Santrali (GES):<\/b> \u00c7orlu fabrikas\u0131n\u0131n 3.300 m\u00b2&#8217;lik \u00e7at\u0131 alan\u0131na kurulan 641,25 KWp g\u00fcc\u00fcndeki GES projesi tamamlanm\u0131\u015f ve fabrikan\u0131n elektrik ihtiyac\u0131n\u0131n %80&#8217;inden fazlas\u0131n\u0131 kar\u015f\u0131lamaya ba\u015flam\u0131\u015ft\u0131r.<\/li>\n<li><b>Yeni Tesis Yat\u0131r\u0131m\u0131:<\/b> D\u00fczce Organize Sanayi B\u00f6lgesi&#8217;nde 60.000 m\u00b2&#8217;lik bir arsa i\u00e7in \u00f6n tahsis protokol\u00fc imzalanm\u0131\u015ft\u0131r.<\/li>\n<li><b>Uluslararas\u0131 B\u00fcy\u00fcme:<\/b> Ana hedef, DESA&#8217;y\u0131 \u00e7ok uluslu bir perakende markas\u0131 haline getirmektir.\n<ul>\n<li><b>NINETEENSEVENTYTWO DESA:<\/b> \u0130talya, Almanya, Fransa ve Japonya ba\u015fta olmak \u00fczere d\u00fcnya genelinde 120&#8217;den fazla se\u00e7kin lokasyonda sat\u0131\u015fa sunulmaktad\u0131r. Marka, Milano ve Paris Moda Haftalar\u0131 gibi prestijli etkinliklerde d\u00fczenli olarak yer almaktad\u0131r.<\/li>\n<li><b>E-ticaret:<\/b> Zalando, Bol.com, Amazon ve Trendyol gibi platformlar \u00fczerinden 18 \u00fclkede (Almanya, Fransa, \u0130ngiltere, BAE, S. Arabistan dahil) sat\u0131\u015f yap\u0131lmaktad\u0131r.<\/li>\n<li><b>Franchise:<\/b> Yurtd\u0131\u015f\u0131 ma\u011fazala\u015fma hedefi do\u011frultusunda, ilk franchise \u015fubesinin Ba\u011fdat&#8217;ta a\u00e7\u0131lmas\u0131 planlanmaktad\u0131r.<\/li>\n<\/ul>\n<\/li>\n<li><b>Perakende A\u011f\u0131:<\/b> 30 Eyl\u00fcl 2025 itibar\u0131yla T\u00fcrkiye ve yurt d\u0131\u015f\u0131nda toplam 108 ma\u011faza (53 DESA, 36 DESA Samsonite, 14 Samsonite JV, 3 Tumi, 2 Franchise) ve 14.588 m\u00b2&#8217;lik perakende alan\u0131yla faaliyet g\u00f6stermektedir.<\/li>\n<\/ul>\n<h3>3.3. S\u00fcrd\u00fcr\u00fclebilirlik ve Kurumsal Sorumluluk<\/h3>\n<p>DESA, s\u00fcrd\u00fcr\u00fclebilirli\u011fi i\u015f modelinin merkezine yerle\u015ftirmi\u015ftir.<\/p>\n<ul>\n<li><b>LWG Alt\u0131n Derecesi:<\/b> \u015eirket, su ve enerji kullan\u0131m\u0131, at\u0131k y\u00f6netimi ve kimyasal kullan\u0131m\u0131 gibi kritik ba\u015fl\u0131klardaki y\u00fcksek performans\u0131yla Leather Working Group (LWG) taraf\u0131ndan en \u00fcst seviye olan Alt\u0131n Derece ile sertifikaland\u0131r\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>&#8220;Responsible Program\u0131&#8221;:<\/b> Avrupa Ye\u015fil Mutabakat\u0131&#8217;na uyum s\u00fcrecinde, Ticaret Bakanl\u0131\u011f\u0131 taraf\u0131ndan y\u00fcr\u00fct\u00fclen bu programa kabul edilen ilk deri firmas\u0131 olmu\u015ftur. Bu sayede, ilgili yat\u0131r\u0131mlar i\u00e7in %50 oran\u0131nda devlet deste\u011fi almaya hak kazanm\u0131\u015ft\u0131r.<\/li>\n<li><b>Sosyal Sorumluluk:<\/b> Gaziantep, \u0130zmir ve Denizli&#8217;de toplam 60.000 fidan ba\u011f\u0131\u015f\u0131 ger\u00e7ekle\u015ftirilmi\u015ftir. \u015eirket ayn\u0131 zamanda Richemont, Kering, LVMH, Prada ve Burberry gibi l\u00fcks moda gruplar\u0131n\u0131n denetimlerinden ge\u00e7erek onayl\u0131 tedarik\u00e7i stat\u00fcs\u00fc kazanm\u0131\u015ft\u0131r.<\/li>\n<li><b>\u0130novasyon:<\/b> D\u00f6nem sonras\u0131 yap\u0131lan a\u00e7\u0131klamayla, biyoteknoloji firmas\u0131 Gozen Bioworks ile hayvansal veya bitkisel olmayan, biyolojik olarak par\u00e7alanabilir yeni nesil materyallerin geli\u015ftirilmesi i\u00e7in ortak giri\u015fim g\u00f6r\u00fc\u015fmelerine ba\u015flanm\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. Risk Y\u00f6netimi ve Finansman Politikalar\u0131<\/h2>\n<p>\u015eirket, finansal ve operasyonel riskleri etkin bir \u015fekilde y\u00f6netmek i\u00e7in kapsaml\u0131 politikalar uygulamaktad\u0131r.<\/p>\n<ul>\n<li><b>Finansman Kaynaklar\u0131:<\/b> Faaliyetler, ticari faaliyetlerden elde edilen i\u00e7 kaynaklar ve finans piyasalar\u0131ndan sa\u011flanan d\u0131\u015f kaynaklar ile finanse edilmektedir.<\/li>\n<li><b>D\u00f6viz Kuru Riski:<\/b> \u0130hracat gelirlerinin ithalat maliyetlerini kar\u015f\u0131lad\u0131\u011f\u0131 do\u011fal bir hedge (korunma) yap\u0131s\u0131 mevcuttur. \u0130hracat\u0131n ithalat\u0131 kar\u015f\u0131lama oran\u0131 2\/1 seviyesinde tutularak kur riski minimize edilmektedir.<\/li>\n<li><b>Likidite Riski:<\/b> Finansman kaynaklar\u0131 \u00e7e\u015fitlendirilerek, vade yap\u0131lar\u0131 varl\u0131klarla uyumlu hale getirilerek ve yeterli seviyede nakit bulundurularak y\u00f6netilmektedir.<\/li>\n<li><b>Kredi Riski:<\/b> Perakende sat\u0131\u015flar\u0131n b\u00fcy\u00fck k\u0131sm\u0131 kredi kart\u0131 ile yap\u0131ld\u0131\u011f\u0131ndan risk finans sekt\u00f6r\u00fcne aktar\u0131lmaktad\u0131r. Toptan sat\u0131\u015flarda ise a\u011f\u0131rl\u0131kl\u0131 olarak pe\u015fin \u00e7al\u0131\u015f\u0131lmakta veya teminat mektubu al\u0131nmaktad\u0131r.<\/li>\n<li><b>Sermaye Yeterlili\u011fi:<\/b> TTK&#8217;n\u0131n 376. maddesi kapsam\u0131nda yap\u0131lan de\u011ferlendirmede, \u015eirket&#8217;in 490 milyon TL&#8217;lik \u00e7\u0131kar\u0131lm\u0131\u015f sermayesinin, 3,7 milyar TL&#8217;lik \u00f6zkaynaklar\u0131 ile fazlas\u0131yla korundu\u011fu ve faaliyetlerinin devam\u0131na elveri\u015fli oldu\u011fu tespit edilmi\u015ftir.<\/li>\n<\/ul>\n<button class=\"simplefavorite-button\" data-postid=\"315\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>Bir T\u00fcrk Deri Devinin Finans Raporlar\u0131nda Gizlenen 4 \u015ea\u015f\u0131rt\u0131c\u0131 Stratejik Hamle Finansal raporlar&#8230; Genellikle s\u0131k\u0131c\u0131 rakamlar, tablolar ve dipnotlarla dolu, anla\u015f\u0131lmas\u0131 zor belgeler olarak g\u00f6r\u00fcl\u00fcrler. Ancak bazen, bu rakamlar\u0131n aras\u0131na gizlenmi\u015f, bir \u015firketin gelece\u011fe y\u00f6nelik cesur vizyonunu ve stratejik dehas\u0131n\u0131&#8230; <\/p>\n","protected":false},"author":1,"featured_media":316,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[64],"class_list":["post-315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-desa"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/315","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=315"}],"version-history":[{"count":1,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/315\/revisions"}],"predecessor-version":[{"id":317,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/315\/revisions\/317"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media\/316"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media?parent=315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}