{"id":399,"date":"2025-12-23T19:01:59","date_gmt":"2025-12-23T16:01:59","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=399"},"modified":"2025-12-23T19:01:59","modified_gmt":"2025-12-23T16:01:59","slug":"%f0%9f%94%b4%f0%9f%87%b9%f0%9f%87%b7-kuvva-kuvva-gida-ticaret-2025-9-bilanco-analizi-%f0%9f%a7%bf","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/399","title":{"rendered":"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #KUVVA | Kuvva G\u0131da Ticaret 2025\/9 Bilan\u00e7o Analizi | \ud83e\uddff"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #FRIGO | Frigo-Pak G\u0131da Maddeleri Sanayi ve Ticaret 2025\/9 Bilan\u00e7o Analizi |  \ud83e\uddff\" width=\"858\" height=\"483\" src=\"https:\/\/www.youtube.com\/embed\/c8M-FsVApX0?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>K\u0131rtasiyeciden Maden Kral\u0131na: Bir T\u00fcrk \u015eirketinin Raporlar\u0131ndan \u00c7\u0131kan 5 \u015ea\u015f\u0131rt\u0131c\u0131 Ger\u00e7ek<\/h1>\n<p>Bir \u015firketin ad\u0131, faaliyetleri hakk\u0131nda ne kadar bilgi verir? Genellikle olduk\u00e7a fazla. Ancak bazen, bir ismin arkas\u0131nda, beklenmedik d\u00f6n\u00fc\u015f\u00fcmlerle dolu, bamba\u015fka bir hikaye yatar. \u00c7o\u011fu zaman kuru ve s\u0131k\u0131c\u0131 olarak g\u00f6r\u00fclen kurumsal faaliyet raporlar\u0131, i\u015fte bu gizli kalm\u0131\u015f stratejik evrimleri ortaya \u00e7\u0131karan birer hazine sand\u0131\u011f\u0131 olabilir.<\/p>\n<p>Bu duruma en \u00e7arp\u0131c\u0131 \u00f6rneklerden biri, Borsa \u0130stanbul&#8217;da i\u015flem g\u00f6ren Kuvva G\u0131da Ticaret ve Sanayi Yat\u0131r\u0131mlar\u0131 A.\u015e. \u015eirketin resmi unvan\u0131, hikayenin sadece k\u00fc\u00e7\u00fck bir par\u00e7as\u0131n\u0131 anlat\u0131yor. Son d\u00f6nem faaliyet raporlar\u0131 ve finansal tablolar\u0131 incelendi\u011finde, k\u0131rtasiyecilikten g\u0131daya, oradan da a\u011f\u0131r sanayi ve y\u00fcksek teknolojiye uzanan ba\u015f d\u00f6nd\u00fcr\u00fcc\u00fc bir d\u00f6n\u00fc\u015f\u00fcm yolculu\u011fu ortaya \u00e7\u0131k\u0131yor.<\/p>\n<p>Bu yaz\u0131da, Kuvva G\u0131da&#8217;n\u0131n raporlar\u0131ndan derledi\u011fimiz, \u015firketin kimli\u011fi ve stratejisi hakk\u0131nda her \u015feyi sorgulaman\u0131za neden olacak 5 \u015fa\u015f\u0131rt\u0131c\u0131 ger\u00e7e\u011fi mercek alt\u0131na al\u0131yoruz.<\/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. D\u00fcn K\u0131rtasiyeci, Bug\u00fcn G\u0131dac\u0131: Kimlik Krizinin \u00d6tesinde Bir Evrim<\/h3>\n<p>Bir \u015firketin temel faaliyet alan\u0131n\u0131 de\u011fi\u015ftirmesi nadir g\u00f6r\u00fclen bir durumdur. Ancak Kuvva G\u0131da, bu de\u011fi\u015fimi birden fazla kez ve radikal bir \u015fekilde ger\u00e7ekle\u015ftirmi\u015f. Raporlardaki tarih\u00e7e, \u015firketin neredeyse her birka\u00e7 y\u0131lda bir kimlik de\u011fi\u015ftirdi\u011fini g\u00f6steriyor:<\/p>\n<ol>\n<li><b>1996:<\/b> \u015eirket, k\u0131rtasiye sekt\u00f6r\u00fcnde faaliyet g\u00f6stermek \u00fczere <b>Serve K\u0131rtasiye Sanayi ve Ticaret A.\u015e.<\/b> unvan\u0131yla kuruldu. Uzun y\u0131llar boyunca bu kimlikle tan\u0131nd\u0131.<\/li>\n<li><b>2018:<\/b> \u0130lk b\u00fcy\u00fck pivot ger\u00e7ekle\u015fti ve \u015firket, unvan\u0131n\u0131 <b>Serve Film Prod\u00fcksiyon E\u011flence A.\u015e.<\/b> olarak de\u011fi\u015ftirerek bamba\u015fka bir sekt\u00f6re ad\u0131m att\u0131.<\/li>\n<li><b>2022:<\/b> En g\u00fcncel ve en k\u00f6kl\u00fc d\u00f6n\u00fc\u015f\u00fcm ya\u015fand\u0131. \u015eirket, dondurulmu\u015f g\u0131da ticareti yapan Kuvva G\u0131da A.\u015e. ile birle\u015ferek bug\u00fcnk\u00fc unvan\u0131 olan <b>Kuvva G\u0131da Ticaret ve Sanayi Yat\u0131r\u0131mlar\u0131 A.\u015e.<\/b> ad\u0131n\u0131 ald\u0131.<\/li>\n<\/ol>\n<p>Halka a\u00e7\u0131k bir \u015firketin bu kadar temel ve keskin kimlik de\u011fi\u015fiklikleri ya\u015famas\u0131, kurumsal strateji d\u00fcnyas\u0131nda ender rastlanan bir durumdur. Ancak as\u0131l \u015fa\u015f\u0131rt\u0131c\u0131 olan, bu son d\u00f6n\u00fc\u015f\u00fcmden sonra \u015firketin kendi faaliyet raporunda beyan etti\u011fi niyetidir. Raporlarda, birle\u015fme sonras\u0131 ana faaliyet konusunun &#8220;toptan g\u0131da ticareti&#8221; oldu\u011fu ve \u015firketin &#8220;<b>bundan sonraki s\u00fcre\u00e7te de g\u0131da \u00fcretim ve ticareti sekt\u00f6r\u00fcnde faaliyet g\u00f6stermeye devam edece\u011fi<\/b>&#8221; a\u00e7\u0131k\u00e7a belirtiliyor. Bu beyan, hikayenin bir sonraki perdesini daha da ironik hale getiriyor.<\/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. Ad\u0131 &#8220;G\u0131da&#8221;, Yeni Stratejisi &#8220;K\u00f6m\u00fcr&#8221;<\/h3>\n<p>Raporlardan \u00e7\u0131kan belki de en \u015fa\u015f\u0131rt\u0131c\u0131 ger\u00e7ek, \u015firketin ad\u0131yla ve bir \u00f6nceki b\u00f6l\u00fcmde aktard\u0131\u011f\u0131m\u0131z resmi beyan\u0131yla en son yapt\u0131\u011f\u0131 devasa yat\u0131r\u0131m aras\u0131ndaki mutlak tezat. Ad\u0131 &#8220;Kuvva G\u0131da&#8221; olan ve gelecekte de &#8220;g\u0131da sekt\u00f6r\u00fcnde faaliyet g\u00f6sterece\u011fini&#8221; ilan eden \u015firket, en b\u00fcy\u00fck sermaye hamlesini k\u00f6m\u00fcr madencili\u011fine yapm\u0131\u015f durumda.<\/p>\n<p>27 Aral\u0131k 2024 tarihinde yap\u0131lan ve faaliyet raporunda detayland\u0131r\u0131lan iki b\u00fcy\u00fck sat\u0131n alma, \u015firketin stratejik oda\u011f\u0131n\u0131n ka\u011f\u0131t \u00fczerindeki beyanlardan ne kadar farkl\u0131 bir y\u00f6ne kayd\u0131\u011f\u0131n\u0131 a\u00e7\u0131k\u00e7a g\u00f6steriyor:<\/p>\n<ul>\n<li><b>D\u00fczg\u00fcn \u0130\u015f Makinalar\u0131 \u0130n\u015faat Madencilik Sanayi Ve Ticaret Anonim \u015eirketi:<\/b> \u015eirketin %100&#8217;\u00fc <b>950.000.000 TL<\/b> bedelle sat\u0131n al\u0131nd\u0131.<\/li>\n<li><b>Kayasu Elektrik \u00dcretimi Enerji Madencilik \u0130n\u015faat Anonim \u015eirketi:<\/b> \u015eirketin %90&#8217;\u0131 <b>350.000.000 TL<\/b> bedelle sat\u0131n al\u0131nd\u0131.<\/li>\n<\/ul>\n<p>Her iki \u015firketin de faaliyet alan\u0131, raporlarda net bir \u015fekilde &#8220;Linyit K\u00f6m\u00fcr\u00fc A\u00e7\u0131k Ocak K\u00f6m\u00fcr Madencili\u011fi&#8221; olarak tan\u0131mlan\u0131yor. Bu iki hamle, toplamda <b>1.3 milyar TL<\/b> gibi devasa bir yat\u0131r\u0131m anlam\u0131na geliyor. Bu durum, \u015firketin sadece ad\u0131yla de\u011fil, resmi olarak deklare etti\u011fi stratejisiyle de \u00e7eli\u015ferek gelece\u011fini enerji ve madencilik gibi bamba\u015fka ve sermaye-yo\u011fun bir alanda \u015fekillendirdi\u011fini ortaya koyuyor.<\/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. Geleneksel Sanayiden Biyoteknolojiye Milyonlarca Avroluk S\u0131\u00e7rama<\/h3>\n<p>Kuvva G\u0131da&#8217;n\u0131n karma\u015f\u0131k kimli\u011fine bir katman daha ekleyen geli\u015fme ise y\u00fcksek teknolojiye olan ilgisi. \u015eirket bir yandan geleneksel bir end\u00fcstri olan k\u00f6m\u00fcr madencili\u011fine yat\u0131r\u0131m yaparken, di\u011fer yandan biyoteknoloji alan\u0131nda iddial\u0131 ad\u0131mlar at\u0131yor.<\/p>\n<p>Bu vizyonun merkezinde, \u015firketin ba\u011fl\u0131 ortakl\u0131\u011f\u0131 olan <b>CK Protein ve Bioteknolojik Yat\u0131r\u0131mlar Anonim \u015eirketi<\/b> bulunuyor. Faaliyet raporuna g\u00f6re bu i\u015ftirak, 2024 y\u0131l\u0131nda Alman Mtech Mann Miza Technologies Gmbh firmas\u0131ndan <b>15.000.000 Avro<\/b> de\u011ferinde te\u015fvikli bir makine yat\u0131r\u0131m\u0131 ger\u00e7ekle\u015ftirdi.<\/p>\n<p>Bu hamle, \u015firketin portf\u00f6y\u00fcn\u00fc ne kadar \u00e7e\u015fitlendirdi\u011fini g\u00f6steriyor. Bir yanda topraktan k\u00f6m\u00fcr \u00e7\u0131karan a\u011f\u0131r sanayi, di\u011fer yanda gelece\u011fin teknolojisi olarak g\u00f6r\u00fclen biyoteknoloji. Bu iki z\u0131t kutup, Kuvva G\u0131da&#8217;n\u0131n ayn\u0131 anda \u00e7ok farkl\u0131 kulvarlarda yar\u0131\u015fan, al\u0131\u015f\u0131lm\u0131\u015f\u0131n d\u0131\u015f\u0131nda bir yat\u0131r\u0131m stratejisi izledi\u011fini 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>4. Zarardan K\u00e2ra Ge\u00e7i\u015fin S\u0131rr\u0131: Enflasyon Muhasebesi<\/h3>\n<p>\u015eirketin finansal tablolar\u0131na ilk bak\u0131\u015fta, etkileyici bir geri d\u00f6n\u00fc\u015f hikayesi g\u00f6ze \u00e7arp\u0131yor. Konsolide gelir tablosu, bir \u00f6nceki y\u0131l zarar eden \u015firketin bu y\u0131l k\u00e2ra ge\u00e7ti\u011fini g\u00f6steriyor. 30 Eyl\u00fcl&#8217;de sona eren 9 ayl\u0131k d\u00f6nemler kar\u015f\u0131la\u015ft\u0131r\u0131ld\u0131\u011f\u0131nda rakamlar \u015f\u00f6yle:<\/p>\n<ul>\n<li>2024 D\u00f6nem Net Zarar\u0131: <b>(98.417.726) TL<\/b><\/li>\n<li>2025 D\u00f6nem Net K\u00e2r\u0131: <b>74.046.674 TL<\/b><\/li>\n<\/ul>\n<p>Ancak bu \u00e7arp\u0131c\u0131 de\u011fi\u015fimin arkas\u0131ndaki s\u0131r, operasyonel bir ba\u015far\u0131dan \u00e7ok, bir muhasebe tekni\u011finde gizli. Gelir tablosundaki <b>&#8220;Net Parasal Pozisyon Kazan\u00e7lar\u0131 \/ (Kay\u0131plar\u0131)&#8221;<\/b> kalemine bak\u0131ld\u0131\u011f\u0131nda, bu kalemin 2024&#8217;teki (31.429.466) TL&#8217;lik zarardan 2025&#8217;te <b>107.542.274 TL<\/b>&#8216;lik bir kazanca d\u00f6n\u00fc\u015ft\u00fc\u011f\u00fc g\u00f6r\u00fcl\u00fcyor.<\/p>\n<p>Finansal tablo dipnotlar\u0131nda belirtildi\u011fi \u00fczere, bu durumun ana sebebi, T\u00fcrkiye&#8217;nin y\u00fcksek enflasyon ortam\u0131 nedeniyle <b>TMS 29 (Enflasyon Muhasebesi)<\/b> standard\u0131n\u0131n uygulanmas\u0131d\u0131r. En basit haliyle bu, y\u00fcksek enflasyonun \u015firketin bor\u00e7lar\u0131n\u0131n ger\u00e7ek de\u011ferini eritirken, varl\u0131klar\u0131n\u0131n ka\u011f\u0131t \u00fczerindeki de\u011ferini art\u0131rmas\u0131yla olu\u015fan bir kazan\u00e7t\u0131r. Yani bu k\u00e2r, \u015firketin daha fazla mal satmas\u0131ndan de\u011fil, b\u00fcy\u00fck \u00f6l\u00e7\u00fcde makroekonomik ko\u015fullar\u0131n muhasebeye yans\u0131mas\u0131ndan kaynaklanmaktad\u0131r. Bu durum, man\u015fetlerdeki &#8220;k\u00e2r&#8221; rakam\u0131n\u0131n ard\u0131nda yatan dinamikleri anlamak ve finansal raporlar\u0131 ele\u015ftirel bir g\u00f6zle okuman\u0131n \u00f6nemini bir kez daha 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>5. Hisselerin Sadece %4&#8217;\u00fc ile \u015eirketi Y\u00f6netmek M\u00fcmk\u00fcn m\u00fc?<\/h3>\n<p>Halka a\u00e7\u0131k \u015firketlerde y\u00f6netimin kimde oldu\u011fu genellikle en \u00e7ok hisseye sahip olan taraf\u0131ndan belirlenir. Ancak Kuvva G\u0131da&#8217;n\u0131n ortakl\u0131k yap\u0131s\u0131, bu kural\u0131n bir istisnas\u0131n\u0131 g\u00f6zler \u00f6n\u00fcne seriyor.<\/p>\n<p>Raporlara g\u00f6re, \u015firketin Y\u00f6netim Kurulu Ba\u015fkan\u0131 Veysi Kaynak, <b>A Grubu<\/b> imtiyazl\u0131 (ayr\u0131cal\u0131kl\u0131) paylara sahip. Bu paylar\u0131n getirdi\u011fi en \u00f6nemli ayr\u0131cal\u0131k ise \u015firketin esas s\u00f6zle\u015fmesinde \u015f\u00f6yle belirtiliyor: Y\u00f6netim Kurulu&#8217;nun tamam\u0131, A Grubu hissedarlar aras\u0131ndan veya onlar\u0131n g\u00f6sterece\u011fi adaylar aras\u0131ndan se\u00e7ilmek zorunda.<\/p>\n<p>Bu durum, sermaye pay\u0131 ile y\u00f6netimdeki etki aras\u0131ndaki ilgin\u00e7 ili\u015fkiyi ortaya koyuyor. 30 Eyl\u00fcl 2025 tarihli ortakl\u0131k yap\u0131s\u0131 bu durumu net bir \u015fekilde \u00f6zetliyor:<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Pay Sahibi Grubu<\/td>\n<td>Sermayedeki Pay\u0131 (%)<\/td>\n<td>Y\u00f6netimdeki Etkisi<\/td>\n<\/tr>\n<tr>\n<td>Veysi Kaynak (A Grubu)<\/td>\n<td>%3,64<\/td>\n<td>Y\u00f6netim Kurulunu Belirleme \u0130mtiyaz\u0131<\/td>\n<\/tr>\n<tr>\n<td>Halka A\u00e7\u0131k ve Di\u011fer B Grubu Sahipleri<\/td>\n<td>%96,36<\/td>\n<td>\u0130mtiyazs\u0131z<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Bu tablo, imtiyazl\u0131 paylar sayesinde %4&#8217;ten az bir hisseyle dahi \u015firketin t\u00fcm stratejik kontrol\u00fcn\u00fcn nas\u0131l elde tutulabildi\u011fini g\u00f6steren ders niteli\u011finde bir \u00f6rnek.<\/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>Conclusion: A Final Thought<\/h3>\n<p>Kuvva G\u0131da&#8217;n\u0131n raporlar\u0131ndan \u00e7\u0131kan sonu\u00e7 net: Bu \u015firket, radikal ve \u00f6ng\u00f6r\u00fclemez bir d\u00f6n\u00fc\u015f\u00fcmle kendini yeniden tan\u0131ml\u0131yor. K\u0131rtasiye raflar\u0131ndan g\u0131da depolar\u0131na, oradan da k\u00f6m\u00fcr madenleri ve biyoteknoloji laboratuvarlar\u0131na uzanan bu yolculuk, al\u0131\u015f\u0131lm\u0131\u015f kurumsal stratejilerin \u00e7ok d\u0131\u015f\u0131nda bir profil \u00e7iziyor.<\/p>\n<p>Kuvva G\u0131da&#8217;n\u0131n bu cesur ve beklenmedik ad\u0131mlar\u0131, onu gelecekte bir g\u0131da devine mi, bir enerji oyuncusuna m\u0131, yoksa bamba\u015fka bir \u015feye mi d\u00f6n\u00fc\u015ft\u00fcrecek? Bu raporlar, bir sonraki hamlenin ne olaca\u011f\u0131n\u0131 s\u00f6ylemiyor, ama kesin olan bir \u015fey var: bu hikayeyi izlemek son derece ilgin\u00e7 olacak.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h1><span style=\"color: #0000ff;\">Kuvva G\u0131da Ticaret ve Sanayi Yat\u0131r\u0131mlar\u0131 A.\u015e. 30 Eyl\u00fcl 2025 D\u00f6nemi Faaliyet ve Finansal Durum Raporu<\/span><\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu brifing belgesi, Kuvva G\u0131da Ticaret ve Sanayi Yat\u0131r\u0131mlar\u0131 A.\u015e.&#8217;nin 30 Eyl\u00fcl 2025 tarihinde sona eren dokuz ayl\u0131k d\u00f6neme ait konsolide faaliyet raporlar\u0131 ve denetim raporlar\u0131ndan elde edilen temel bulgular\u0131 ve stratejik geli\u015fmeleri sentezlemektedir. D\u00f6nemin en belirgin \u00f6zelli\u011fi, \u015firketin g\u0131da sekt\u00f6r\u00fcndeki faaliyetlerini korurken, linyit k\u00f6m\u00fcr\u00fc madencili\u011fi alan\u0131nda iki \u00f6nemli ba\u011fl\u0131 ortakl\u0131k sat\u0131n alarak enerji ve madencilik sekt\u00f6r\u00fcne stratejik bir giri\u015f yapmas\u0131d\u0131r.<\/p>\n<p>Finansal olarak \u015firket, \u00f6nemli bir geri d\u00f6n\u00fc\u015f sergilemi\u015ftir. 2024&#8217;\u00fcn ilk dokuz ay\u0131nda kaydedilen 98,4 milyon TL&#8217;lik net zarara k\u0131yasla, 2025&#8217;in ayn\u0131 d\u00f6neminde 74,0 milyon TL net k\u00e2r elde edilmi\u015ftir. Bu olumlu de\u011fi\u015fimin arkas\u0131ndaki ana etkenler; sat\u0131\u015f gelirlerindeki %253&#8217;l\u00fck art\u0131\u015f, br\u00fct k\u00e2rl\u0131l\u0131ktaki iyile\u015fme ve TMS 29 Y\u00fcksek Enflasyonlu Ekonomilerde Finansal Raporlama standard\u0131 uyar\u0131nca kaydedilen 107,5 milyon TL&#8217;lik Net Parasal Pozisyon Kazanc\u0131d\u0131r.<\/p>\n<p>D\u00f6nem i\u00e7erisindeki \u00f6nemli kurumsal faaliyetler aras\u0131nda ba\u011fl\u0131 ortakl\u0131k CK Protein&#8217;in sermayesinin art\u0131r\u0131lmas\u0131, Y\u00f6netim Kurulu&#8217;nda yap\u0131lan \u00fcye de\u011fi\u015fiklikleri ve 2025 y\u0131l\u0131 i\u00e7in ba\u011f\u0131ms\u0131z denetim kurulu\u015funun belirlenmesi bulunmaktad\u0131r. \u015eirketin stratejik hedefi, faaliyet g\u00f6sterdi\u011fi sekt\u00f6rlerde \u00f6nc\u00fc bir konuma gelmek, k\u00e2rl\u0131l\u0131\u011f\u0131n\u0131 s\u00fcrd\u00fcr\u00fclebilir k\u0131lmak ve ge\u00e7mi\u015f y\u0131l zararlar\u0131n\u0131 telafi etmektir.<\/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. Kurumsal Profil ve Stratejik Y\u00f6nelim<\/h3>\n<h4>1.1. \u015eirket K\u00fcnyesi<\/h4>\n<p>Kuvva G\u0131da Ticaret ve Sanayi Yat\u0131r\u0131mlar\u0131 A.\u015e., 1996 y\u0131l\u0131nda Serve K\u0131rtasiye Sanayi ve Ticaret A.\u015e. unvan\u0131yla kurulmu\u015f, 2022 y\u0131l\u0131nda Kuvva G\u0131da A.\u015e. ile birle\u015ferek mevcut unvan\u0131n\u0131 ve faaliyet alan\u0131n\u0131 alm\u0131\u015ft\u0131r.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Bilgi T\u00fcr\u00fc<\/td>\n<td>Detay<\/td>\n<\/tr>\n<tr>\n<td><b>Ticaret Unvan\u0131<\/b><\/td>\n<td>Kuvva G\u0131da Ticaret ve Sanayi Yat\u0131r\u0131mlar\u0131 A.\u015e.<\/td>\n<\/tr>\n<tr>\n<td><b>Raporlama D\u00f6nemi<\/b><\/td>\n<td>01.01.2025 &#8211; 30.09.2025<\/td>\n<\/tr>\n<tr>\n<td><b>Ticaret Sicil No<\/b><\/td>\n<td>346064-0<\/td>\n<\/tr>\n<tr>\n<td><b>Merkez Adresi<\/b><\/td>\n<td>S\u00f6\u011f\u00fctl\u00fc\u00e7e\u015fme Mah. 1. Fevzi \u00c7akmak Mah. No. 16 \u0130\u00e7 Kap\u0131 No:1 K\u00fc\u00e7\u00fck\u00e7ekmece \u0130stanbul<\/td>\n<\/tr>\n<tr>\n<td><b>\u0130leti\u015fim<\/b><\/td>\n<td>Tel: 0 212 624 00 46 \/ 0 212 258 34 64, Faks: 0 212 598 30 20 \/ 0 212 258 17 87<\/td>\n<\/tr>\n<tr>\n<td><b>Web Sitesi<\/b><\/td>\n<td>www.serve.com.tr<\/td>\n<\/tr>\n<tr>\n<td><b>Kay\u0131tl\u0131 Sermaye Tavan\u0131<\/b><\/td>\n<td>125.000.000 TL<\/td>\n<\/tr>\n<tr>\n<td><b>\u00c7\u0131kar\u0131lm\u0131\u015f Sermaye<\/b><\/td>\n<td>31.042.007 TL<\/td>\n<\/tr>\n<tr>\n<td><b>Personel Say\u0131s\u0131 (Konsolide)<\/b><\/td>\n<td>16 (30.09.2025 itibar\u0131yla)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h4>1.2. Faaliyet Alan\u0131 ve Stratejik Hedefler<\/h4>\n<p>\u015eirket, 29 Nisan 2022&#8217;de tamamlanan birle\u015fme i\u015flemi sonras\u0131nda ana faaliyet konusunu toptan g\u0131da ticareti olarak belirlemi\u015ftir. 2024 y\u0131l\u0131 sonu itibar\u0131yla yap\u0131lan \u00f6nemli yat\u0131r\u0131mlarla faaliyet alan\u0131n\u0131 linyit k\u00f6m\u00fcr\u00fc madencili\u011fi ve k\u00f6m\u00fcr zenginle\u015ftirme tesis i\u015fletmecili\u011fini de kapsayacak \u015fekilde geni\u015fletmi\u015ftir.<\/p>\n<p>\u015eirketin temel stratejik hedefi, sekt\u00f6rde \u00f6nc\u00fc bir konuma ula\u015fmak ve ticari faaliyetlerini k\u00e2rl\u0131 hale getirerek ge\u00e7mi\u015f y\u0131l zararlar\u0131ndan kurtulmakt\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<h3>2. Kurumsal Yap\u0131 ve M\u00fclkiyet<\/h3>\n<h4>2.1. Ortakl\u0131k Yap\u0131s\u0131 ve \u0130mtiyazl\u0131 Paylar<\/h4>\n<p>\u015eirketin 30 Eyl\u00fcl 2025 itibar\u0131yla ortakl\u0131k yap\u0131s\u0131, A ve B grubu paylardan olu\u015fmaktad\u0131r. Y\u00f6netim Kurulu \u00fcyelerinin se\u00e7imi konusunda A Grubu pay sahiplerine imtiyaz tan\u0131nm\u0131\u015ft\u0131r.<\/p>\n<p><b>30 Eyl\u00fcl 2025 Tarihli Ortakl\u0131k Yap\u0131s\u0131:<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Orta\u011f\u0131n Ad\u0131 \/ Unvan\u0131<\/td>\n<td>Pay Grubu<\/td>\n<td>Sermayedeki Pay\u0131 (TL)<\/td>\n<td>Sermayedeki Pay\u0131 (%)<\/td>\n<\/tr>\n<tr>\n<td>Veysi Kaynak<\/td>\n<td>A Grubu<\/td>\n<td>1.128.875,03<\/td>\n<td>3,64<\/td>\n<\/tr>\n<tr>\n<td>Veysi Kaynak<\/td>\n<td>B Grubu<\/td>\n<td>16.745,40<\/td>\n<td>0,05<\/td>\n<\/tr>\n<tr>\n<td>\u015eule Kaynak<\/td>\n<td>B Grubu<\/td>\n<td>29.593,44<\/td>\n<td>0,10<\/td>\n<\/tr>\n<tr>\n<td>Di\u011fer (Halka A\u00e7\u0131k)<\/td>\n<td>&#8211;<\/td>\n<td>29.866.793,46<\/td>\n<td>96,21<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam<\/b><\/td>\n<td><\/td>\n<td><b>31.042.007,32<\/b><\/td>\n<td><b>100,00<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li><b>Y\u00f6netim Kurulu \u0130mtiyaz\u0131:<\/b> \u015eirket Esas S\u00f6zle\u015fmesi uyar\u0131nca, Y\u00f6netim Kurulu \u00fcyeleri, tamam\u0131 A Grubu hissedarlar aras\u0131ndan veya A Grubu hissedarlar taraf\u0131ndan g\u00f6sterilecek adaylar aras\u0131ndan se\u00e7ilmektedir.<\/li>\n<\/ul>\n<h4>2.2. Ba\u011fl\u0131 Ortakl\u0131klar ve \u0130\u015ftirakler<\/h4>\n<p>\u015eirket, 2024 y\u0131l\u0131 sonunda madencilik sekt\u00f6r\u00fcnde iki b\u00fcy\u00fck sat\u0131n alma ger\u00e7ekle\u015ftirerek portf\u00f6y\u00fcn\u00fc \u00f6nemli \u00f6l\u00e7\u00fcde \u00e7e\u015fitlendirmi\u015ftir.<\/p>\n<p><b>Ba\u011fl\u0131 Ortakl\u0131klar:<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>\u015eirket Ad\u0131<\/td>\n<td>Faaliyet Alan\u0131<\/td>\n<td>Pay Oran\u0131 (%)<\/td>\n<td>Notlar<\/td>\n<\/tr>\n<tr>\n<td>CK Protein ve Bioteknolojik Yat\u0131r\u0131mlar A.\u015e.<\/td>\n<td>Kimyasal ve bitkisel \u00fcr\u00fcnler<\/td>\n<td>100%<\/td>\n<td>Sermayesi 27.03.2025 tarihinde 278.865.000 TL art\u0131r\u0131larak 278.915.000 TL&#8217;ye \u00e7\u0131kar\u0131lm\u0131\u015ft\u0131r.<\/td>\n<\/tr>\n<tr>\n<td>D\u00fczg\u00fcn \u0130\u015f Makinalar\u0131 \u0130n\u015faat Madencilik San. ve Tic. A.\u015e<\/td>\n<td>Linyit K\u00f6m\u00fcr\u00fc Madencili\u011fi (Konya\/Ilg\u0131n)<\/td>\n<td>100%<\/td>\n<td>950.000.000 TL bedelle sat\u0131n al\u0131nm\u0131\u015ft\u0131r.<\/td>\n<\/tr>\n<tr>\n<td>Kayasu Elektrik \u00dcretimi Enerji Madencilik \u0130n\u015faat A.\u015e.<\/td>\n<td>Linyit K\u00f6m\u00fcr\u00fc Madencili\u011fi (K\u00fctahya\/Tav\u015fanl\u0131)<\/td>\n<td>90%<\/td>\n<td>350.000.000 TL bedelle sat\u0131n al\u0131nm\u0131\u015ft\u0131r.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>\u0130\u015ftirak:<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>\u015eirket Ad\u0131<\/td>\n<td>Faaliyet Alan\u0131<\/td>\n<td>Pay Oran\u0131 (%)<\/td>\n<td>Notlar<\/td>\n<\/tr>\n<tr>\n<td>Ofma Ofis Malzemeleri Ticaret ve Sanayi A.\u015e.<\/td>\n<td>K\u0131rtasiye<\/td>\n<td>4,73%<\/td>\n<td>27.05.2020 tarihinde geri al\u0131nm\u0131\u015ft\u0131r. 2021&#8217;de 2.898.031 TL de\u011fer d\u00fc\u015f\u00fckl\u00fc\u011f\u00fc kar\u015f\u0131l\u0131\u011f\u0131 ayr\u0131lm\u0131\u015ft\u0131r.<\/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<h3>3. Y\u00f6netim ve Kurumsal Y\u00f6netim<\/h3>\n<h4>3.1. Y\u00f6netim Kurulu ve \u00dcst Y\u00f6netim<\/h4>\n<p>\u015eirket Y\u00f6netim Kurulu en az 5 \u00fcyeden olu\u015fmakta olup, 04 A\u011fustos 2025 tarihinde yap\u0131lan Ola\u011fan Genel Kurul toplant\u0131s\u0131yla yeni \u00fcyeler atanm\u0131\u015ft\u0131r.<\/p>\n<p><b>Y\u00f6netim Kurulu \u00dcyeleri (30.09.2025 itibar\u0131yla):<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Ad\u0131 Soyad\u0131<\/td>\n<td>G\u00f6revi<\/td>\n<td>G\u00f6rev S\u00fcresi<\/td>\n<\/tr>\n<tr>\n<td>Veysi Kaynak<\/td>\n<td>Y\u00f6netim Kurulu Ba\u015fkan\u0131<\/td>\n<td>29.04.2024&#8217;ten itibaren 3 y\u0131l<\/td>\n<\/tr>\n<tr>\n<td>Yusuf Kenan Kaynak<\/td>\n<td>Y\u00f6netim Kurulu Ba\u015fkan Vekili<\/td>\n<td>29.04.2024&#8217;ten itibaren 3 y\u0131l<\/td>\n<\/tr>\n<tr>\n<td>Babur\u015fah G\u00fcng\u00f6r<\/td>\n<td>Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<td>04.08.2025 &#8211; 29.04.2027<\/td>\n<\/tr>\n<tr>\n<td>Zeynep G\u00fcng\u00f6r<\/td>\n<td>Ba\u011f\u0131ms\u0131z Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<td>04.08.2025 &#8211; 29.04.2027<\/td>\n<\/tr>\n<tr>\n<td>Emin Erdal<\/td>\n<td>Ba\u011f\u0131ms\u0131z Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<td>29.04.2024&#8217;ten itibaren 3 y\u0131l<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>\u00dcst D\u00fczey Y\u00f6netici:<\/b><\/p>\n<ul>\n<li><b>Say\u0131m Eng\u00fcr:<\/b> Mali \u0130\u015fler Koordinat\u00f6r\u00fc (S\u00fcresiz)<\/li>\n<\/ul>\n<h4>3.2. Komiteler<\/h4>\n<p>Y\u00f6netim Kurulu b\u00fcnyesinde \u00fc\u00e7 temel komite olu\u015fturulmu\u015ftur. Bu komitelerin tamam\u0131 ba\u011f\u0131ms\u0131z y\u00f6netim kurulu \u00fcyelerinden olu\u015fmaktad\u0131r.<\/p>\n<ul>\n<li><b>Denetimden Sorumlu Komite:<\/b> Zeynep G\u00fcng\u00f6r, Emin Erdal<\/li>\n<li><b>Riskin Erken Saptanmas\u0131 Komitesi:<\/b> Zeynep G\u00fcng\u00f6r, Emin Erdal<\/li>\n<li><b>Kurumsal Y\u00f6netim Komitesi:<\/b> Zeynep G\u00fcng\u00f6r, Emin Erdal<\/li>\n<\/ul>\n<h4>3.3. Kurumsal Y\u00f6netim \u0130lkelerine Uyum<\/h4>\n<p>\u015eirket, Borsa \u0130stanbul&#8217;da &#8220;Yak\u0131n \u0130zleme Pazar\u0131&#8221;nda i\u015flem g\u00f6rd\u00fc\u011f\u00fc i\u00e7in SPK&#8217;n\u0131n Kurumsal Y\u00f6netim \u0130lkeleri Tebli\u011fi&#8217;ndeki zorunlu maddelerin uygulanmas\u0131ndan muaft\u0131r. Ancak, raporlarda bu ilkelerin prensip olarak benimsendi\u011fi ve &#8220;Pay Sahipleri&#8221;, &#8220;Kamuyu Ayd\u0131nlatma ve \u015eeffafl\u0131k&#8221;, &#8220;Menfaat Sahipleri&#8221; ve &#8220;Y\u00f6netim Kurulu&#8221; ile ilgili hususlara k\u0131smen uyuldu\u011fu belirtilmektedir. \u015eirket b\u00fcnyesinde bir &#8220;Yat\u0131r\u0131mc\u0131 \u0130li\u015fkileri Birimi&#8221; bulunmakta olup, bu birimin sorumlulu\u011funu Mali \u0130\u015fler Koordinat\u00f6r\u00fc Say\u0131m Eng\u00fcr y\u00fcr\u00fctmektedir.<\/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. 30 Eyl\u00fcl 2025 D\u00f6nemi Finansal Performans\u0131<\/h3>\n<h4>4.1. Finansal Raporlama Esaslar\u0131<\/h4>\n<p>30 Eyl\u00fcl 2025 tarihli konsolide finansal tablolar, Kamu G\u00f6zetimi Muhasebe ve Denetim Standartlar\u0131 Kurumu (KGK) taraf\u0131ndan yay\u0131mlanan ve y\u00fcksek enflasyonlu ekonomilerde finansal raporlamay\u0131 d\u00fczenleyen TMS 29 standard\u0131na g\u00f6re haz\u0131rlanm\u0131\u015ft\u0131r. Bu standard\u0131n uygulanmas\u0131, parasal olmayan kalemlerin bilan\u00e7o tarihindeki sat\u0131n alma g\u00fcc\u00fcne g\u00f6re yeniden d\u00fczenlenmesini ve net parasal pozisyon \u00fczerindeki etkinin k\u00e2r\/zarar tablosuna yans\u0131t\u0131lmas\u0131n\u0131 gerektirmektedir.<\/p>\n<h4>4.2. Konsolide Finansal Durum Tablosu Analizi (\u00d6zet)<\/h4>\n<p>\u015eirketin toplam varl\u0131klar\u0131nda bir \u00f6nceki y\u0131l sonuna g\u00f6re azalma g\u00f6r\u00fcl\u00fcrken, y\u00fck\u00fcml\u00fcl\u00fcklerdeki daha b\u00fcy\u00fck d\u00fc\u015f\u00fc\u015f sayesinde \u00f6zkaynaklarda art\u0131\u015f ya\u015fanm\u0131\u015ft\u0131r. Madencilik \u015firketlerinin sat\u0131n al\u0131nmas\u0131yla bilan\u00e7oya 615,2 milyon TL tutar\u0131nda bir \u015eerefiye kalemi girmi\u015ftir.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Finansal Durum (TL)<\/td>\n<td><b>30 Eyl\u00fcl 2025<\/b><\/td>\n<td><b>31 Aral\u0131k 2024 (Yeniden D\u00fczenlenmi\u015f)<\/b><\/td>\n<\/tr>\n<tr>\n<td>Toplam D\u00f6nen Varl\u0131klar<\/td>\n<td>589.439.243<\/td>\n<td>842.251.900<\/td>\n<\/tr>\n<tr>\n<td>Toplam Duran Varl\u0131klar<\/td>\n<td>2.253.524.590<\/td>\n<td>2.345.901.373<\/td>\n<\/tr>\n<tr>\n<td><b>TOPLAM VARLIKLAR<\/b><\/td>\n<td><b>2.842.963.833<\/b><\/td>\n<td><b>3.188.153.273<\/b><\/td>\n<\/tr>\n<tr>\n<td>Toplam K\u0131sa Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler<\/td>\n<td>672.974.324<\/td>\n<td>2.445.321.396<\/td>\n<\/tr>\n<tr>\n<td>Toplam Uzun Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler<\/td>\n<td>1.505.388.031<\/td>\n<td>134.877.484<\/td>\n<\/tr>\n<tr>\n<td><b>TOPLAM Y\u00dcK\u00dcML\u00dcL\u00dcKLER<\/b><\/td>\n<td><b>2.178.362.355<\/b><\/td>\n<td><b>2.580.198.880<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>TOPLAM \u00d6ZKAYNAKLAR<\/b><\/td>\n<td><b>664.601.478<\/b><\/td>\n<td><b>607.954.393<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h4>4.3. Konsolide K\u00e2r veya Zarar Tablosu Analizi (\u00d6zet)<\/h4>\n<p>\u015eirket, 2025&#8217;in ilk dokuz ay\u0131nda sat\u0131\u015flar\u0131n\u0131 ve br\u00fct k\u00e2rl\u0131l\u0131\u011f\u0131n\u0131 \u00f6nemli \u00f6l\u00e7\u00fcde art\u0131rm\u0131\u015f ve bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemindeki zarardan k\u00e2ra ge\u00e7mi\u015ftir. Bu performansta, operasyonel iyile\u015fmenin yan\u0131 s\u0131ra enflasyon muhasebesinden kaynaklanan parasal pozisyon kazanc\u0131 da etkili olmu\u015ftur.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>K\u00e2r veya Zarar (TL)<\/td>\n<td><b>01.01 &#8211; 30.09.2025<\/b><\/td>\n<td><b>01.01 &#8211; 30.09.2024<\/b><\/td>\n<\/tr>\n<tr>\n<td>Sat\u0131\u015f Gelirleri<\/td>\n<td>472.723.934<\/td>\n<td>133.813.911<\/td>\n<\/tr>\n<tr>\n<td>Ticari Faaliyetlerden Br\u00fct Kar<\/td>\n<td>52.369.783<\/td>\n<td>22.889.473<\/td>\n<\/tr>\n<tr>\n<td>Faaliyet K\u00e2r\u0131 \/ (Zarar\u0131)<\/td>\n<td>10.273.033<\/td>\n<td>(26.147.836)<\/td>\n<\/tr>\n<tr>\n<td>Net Parasal Pozisyon Kazan\u00e7lar\u0131 \/ (Kay\u0131plar\u0131)<\/td>\n<td>107.542.274<\/td>\n<td>(31.429.466)<\/td>\n<\/tr>\n<tr>\n<td>Vergi \u00d6ncesi K\u00e2r \/ (Zarar)<\/td>\n<td>70.476.398<\/td>\n<td>(83.927.565)<\/td>\n<\/tr>\n<tr>\n<td><b>NET D\u00d6NEM K\u00c2RI \/ (ZARARI)<\/b><\/td>\n<td><b>74.046.674<\/b><\/td>\n<td><b>(98.417.726)<\/b><\/td>\n<\/tr>\n<tr>\n<td>Pay Ba\u015f\u0131na Kazan\u00e7<\/td>\n<td>2,3529<\/td>\n<td>(3,1274)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h4>4.4. Y\u00f6netim ve \u00dcst D\u00fczey Y\u00f6neticilere Sa\u011flanan Mali Haklar<\/h4>\n<p>01.01.2025 &#8211; 30.09.2025 d\u00f6neminde Y\u00f6netim Kurulu \u00fcyeleri ve \u00fcst d\u00fczey y\u00f6neticilere sa\u011flanan huzur hakk\u0131, \u00fccret, prim gibi mali menfaatlerin konsolide toplam tutar\u0131 <b>8.666.119 TL<\/b> olarak ger\u00e7ekle\u015fmi\u015ftir.<\/p>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h3>5. D\u00f6neme \u0130li\u015fkin \u00d6nemli Geli\u015fmeler ve Faaliyetler<\/h3>\n<h4>5.1. Yat\u0131r\u0131mlar ve Te\u015fvikler<\/h4>\n<ul>\n<li><b>Makine Yat\u0131r\u0131m\u0131:<\/b> Ba\u011fl\u0131 ortakl\u0131k CK Protein, 2024 y\u0131l\u0131nda Mtech Mann Miza Technologies Gmbh firmas\u0131ndan 15.000.000 Euro tutar\u0131nda te\u015fvikli makine yat\u0131r\u0131m\u0131 yapm\u0131\u015ft\u0131r. Makinalar\u0131n ithalat\u0131 Haziran ve A\u011fustos 2024&#8217;te tamamlanm\u0131\u015ft\u0131r.<\/li>\n<li><b>Ba\u011fl\u0131 Ortakl\u0131k Al\u0131mlar\u0131:<\/b> D\u00fczg\u00fcn \u0130\u015f Makinalar\u0131 ve Kayasu Elektrik \u00dcretim \u015firketlerinin sat\u0131n al\u0131mlar\u0131, 27 Aral\u0131k 2024 tarihinde kararla\u015ft\u0131r\u0131lm\u0131\u015f ve \u00f6demeleri 27 Haziran 2025 vadeli olarak planlanm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<h4>5.2. 2025 Y\u0131l\u0131 Ola\u011fan Genel Kurul Kararlar\u0131 (04.08.2025)<\/h4>\n<ul>\n<li><b>Y\u00f6netim Kurulu Se\u00e7imi:<\/b> Mustafa Atlar ve Bahad\u0131r Akg\u00f6z&#8217;den bo\u015falan \u00fcyeliklere s\u0131ras\u0131yla Bab\u00fcr\u015fah G\u00fcng\u00f6r ve Zeynep G\u00fcng\u00f6r (ba\u011f\u0131ms\u0131z \u00fcye) 29.04.2027 tarihine kadar se\u00e7ilmi\u015ftir.<\/li>\n<li><b>Huzur Hakk\u0131 Belirlemesi:<\/b> Y\u00f6netim Kurulu \u00fcyeleri i\u00e7in ayl\u0131k huzur hakk\u0131 \u00fccretleri belirlenmi\u015ftir. (YKB: 100.000 TL, \u00dcyeler: 30.000 TL, Ba\u011f\u0131ms\u0131z \u00dcyeler: 9.000 TL)<\/li>\n<li><b>Ba\u011f\u0131ms\u0131z Denet\u00e7i Onay\u0131:<\/b> 2025 mali d\u00f6nemi i\u00e7in Mercek Ba\u011f\u0131ms\u0131z Denetim ve Yeminli Mali M\u00fc\u015favirlik A.\u015e.&#8217;nin ba\u011f\u0131ms\u0131z denetim kurulu\u015fu olarak se\u00e7imi onaylanm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<h4>5.3. Di\u011fer Hususlar<\/h4>\n<ul>\n<li><b>Ara\u015ft\u0131rma ve Geli\u015ftirme:<\/b> Raporlama d\u00f6neminde \u015firketin herhangi bir Ar-Ge \u00e7al\u0131\u015fmas\u0131 bulunmamaktad\u0131r.<\/li>\n<li><b>Davalar ve Yapt\u0131r\u0131mlar:<\/b> \u015eirket aleyhine a\u00e7\u0131lm\u0131\u015f, mali durumu etkileyebilecek nitelikte bir dava veya mevzuata ayk\u0131r\u0131 uygulamalar nedeniyle uygulanm\u0131\u015f bir idari\/adli yapt\u0131r\u0131m bulunmamaktad\u0131r.<\/li>\n<li><b>Sermayenin Durumu:<\/b> \u015eirket sermayesinin TTK 376. maddesine g\u00f6re kar\u015f\u0131l\u0131ks\u0131z kalmad\u0131\u011f\u0131 tespit edilmi\u015ftir.<\/li>\n<\/ul>\n<button class=\"simplefavorite-button\" data-postid=\"399\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>K\u0131rtasiyeciden Maden Kral\u0131na: Bir T\u00fcrk \u015eirketinin Raporlar\u0131ndan \u00c7\u0131kan 5 \u015ea\u015f\u0131rt\u0131c\u0131 Ger\u00e7ek Bir \u015firketin ad\u0131, faaliyetleri hakk\u0131nda ne kadar bilgi verir? Genellikle olduk\u00e7a fazla. Ancak bazen, bir ismin arkas\u0131nda, beklenmedik d\u00f6n\u00fc\u015f\u00fcmlerle dolu, bamba\u015fka bir hikaye yatar. \u00c7o\u011fu zaman kuru ve s\u0131k\u0131c\u0131&#8230; <\/p>\n","protected":false},"author":1,"featured_media":405,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[84],"class_list":["post-399","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-kuvva"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/399","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=399"}],"version-history":[{"count":2,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/399\/revisions"}],"predecessor-version":[{"id":406,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/399\/revisions\/406"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media\/405"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media?parent=399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}