{"id":450,"date":"2025-12-24T02:26:14","date_gmt":"2025-12-23T23:26:14","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=450"},"modified":"2025-12-24T03:47:42","modified_gmt":"2025-12-24T00:47:42","slug":"%f0%9f%94%b4%f0%9f%87%b9%f0%9f%87%b7-mekag-meka-global-makine-imalat-sanayi-2025-9-bilanco-analizi-%f0%9f%a7%bf","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/450","title":{"rendered":"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #MEKAG | Meka Global Makine \u0130malat Sanayi 2025\/9 Bilan\u00e7o Analizi |  \ud83e\uddff"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #MEKAG | Meka Global Makine \u0130malat Sanayi 2025\/9 Bilan\u00e7o Analizi |  \ud83e\uddff\" width=\"858\" height=\"483\" src=\"https:\/\/www.youtube.com\/embed\/9gfhJYeSV48?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>Zarar Eden \u015eirket Nas\u0131l Nakit Kral\u0131 Olur? MEKA Global&#8217;in Finansal Raporundaki 5 \u015ea\u015f\u0131rt\u0131c\u0131 Ger\u00e7ek<\/h1>\n<h3><b>Giri\u015f<\/b><\/h3>\n<p>Bir \u015firketin &#8220;net zarar&#8221; a\u00e7\u0131klad\u0131\u011f\u0131n\u0131 duydu\u011funuzda akl\u0131n\u0131za ilk ne gelir? \u00c7o\u011fumuz i\u00e7in bu, finansal s\u0131k\u0131nt\u0131lar\u0131n, k\u00fc\u00e7\u00fclmenin veya operasyonel sorunlar\u0131n bir i\u015fareti olarak alg\u0131lan\u0131r. Ancak finansal tablolar, ilk bak\u0131\u015fta g\u00f6r\u00fcnen man\u015fet rakamlardan \u00e7ok daha derin hikayeler anlat\u0131r. Bazen en \u015fa\u015f\u0131rt\u0131c\u0131 ger\u00e7ekler, sat\u0131r aralar\u0131nda gizlidir.<\/p>\n<p>Bu yaz\u0131da, 1987 y\u0131l\u0131nda kurulan ve \u00fcretti\u011fi makinelerin %85&#8217;inden fazlas\u0131n\u0131 100&#8217;den fazla \u00fclkeye ihra\u00e7 eden T\u00fcrkiye&#8217;nin \u00f6nde gelen sanayi \u015firketlerinden MEKA Global&#8217;in finansal raporlar\u0131n\u0131 mercek alt\u0131na alaca\u011f\u0131z. K\u00e2\u011f\u0131t \u00fczerinde zarar a\u00e7\u0131klayan bir \u015firketin, asl\u0131nda ne kadar g\u00fc\u00e7l\u00fc bir operasyonel yap\u0131ya, finansal disipline ve gelecek vizyonuna sahip olabilece\u011fini, rakamlar\u0131n diliyle ke\u015ffedece\u011fiz. Bu analiz, finansal raporlar\u0131 &#8220;okumak&#8221; ile &#8220;anlamak&#8221; aras\u0131ndaki fark\u0131 net bir \u015fekilde ortaya koyacak.<\/p>\n<h3><b>1. K\u00e2rl\u0131l\u0131k Paradoksu: Zarar Raporlarken Kasa Nas\u0131l Dolar?<\/b><\/h3>\n<p>\u0130lk bak\u0131\u015fta en \u00e7ok dikkat \u00e7eken rakamla ba\u015flayal\u0131m. MEKA Global&#8217;in gelir tablosuna g\u00f6re \u015firket, 2025 y\u0131l\u0131n\u0131n ilk dokuz ay\u0131nda <b>71.502.361 TL Net D\u00f6nem Zarar\u0131<\/b> raporlam\u0131\u015f. Bu rakam, tek ba\u015f\u0131na endi\u015fe verici g\u00f6r\u00fcnebilir.<\/p>\n<p>Ancak hikayenin bamba\u015fka bir y\u00fcz\u00fc Nakit Ak\u0131\u015f Tablosu&#8217;nda kar\u015f\u0131m\u0131za \u00e7\u0131k\u0131yor. Ayn\u0131 d\u00f6nemde MEKA Global, ana faaliyetlerinden tam <b>430.610.278 TL pozitif nakit ak\u0131\u015f\u0131<\/b> \u00fcretmeyi ba\u015farm\u0131\u015f. Peki, bu devasa fark nas\u0131l olu\u015fuyor?<\/p>\n<p>Cevab\u0131n bir k\u0131sm\u0131, nakit \u00e7\u0131k\u0131\u015f\u0131 gerektirmeyen giderlerde sakl\u0131. Bunun en belirgin \u00f6rne\u011fi, \u015firketin bu d\u00f6nemde kaydetti\u011fi <b>75.197.754 TL<\/b> tutar\u0131ndaki amortisman gideridir. Bu gider, \u015firketin makine ve ekipmanlar\u0131n\u0131n zamanla y\u0131pranma pay\u0131n\u0131 temsil eder ve k\u00e2r\u0131 d\u00fc\u015f\u00fcr\u00fcr, ancak \u015firketin kasas\u0131ndan tek bir kuru\u015f bile eksiltmez.<\/p>\n<p>Fakat as\u0131l s\u0131r, nakit ak\u0131\u015f tablosunun daha derinlerinde yat\u0131yor. Pozitif nakit ak\u0131\u015f\u0131na en b\u00fcy\u00fck katk\u0131y\u0131 sa\u011flayan kalem, <b>356.165.342 TL<\/b> ile &#8220;\u0130\u015fletme Sermayesindeki De\u011fi\u015fimler&#8221;dir. Bu, finansal ustal\u0131\u011f\u0131n bir g\u00f6stergesidir ve \u015firketin alacaklar\u0131n\u0131 ne kadar h\u0131zl\u0131 tahsil etti\u011fini, stoklar\u0131n\u0131 ne kadar verimli y\u00f6netti\u011fini ve tedarik\u00e7i \u00f6demelerini ne kadar ak\u0131ll\u0131ca planlad\u0131\u011f\u0131n\u0131 ortaya koyar. K\u0131sacas\u0131 MEKA Global, sadece k\u00e2\u011f\u0131t \u00fczerinde de\u011fil, g\u00fcnl\u00fck operasyonlar\u0131n\u0131 nakde \u00e7evirme konusunda da son derece verimli bir yap\u0131ya sahip oldu\u011funu kan\u0131tl\u0131yor.<\/p>\n<h3><b>2. Bor\u00e7 Da\u011flar\u0131n\u0131 Eritmek: Finansal Disiplinin G\u00fcc\u00fc<\/b><\/h3>\n<p>G\u00fc\u00e7l\u00fc nakit ak\u0131\u015f\u0131 yaratan bir \u015firket bu nakdi ne yapar? MEKA Global&#8217;in cevab\u0131 net: bilan\u00e7osunu g\u00fc\u00e7lendirmek. \u015eirketin bilan\u00e7osunu inceledi\u011fimizde, banka bor\u00e7lar\u0131nda \u015fa\u015f\u0131rt\u0131c\u0131 derecede agresif bir d\u00fc\u015f\u00fc\u015f g\u00f6r\u00fcyoruz.<\/p>\n<ul>\n<li><b>2024 Y\u0131l Sonu K\u0131sa Vadeli Banka Bor\u00e7lar\u0131:<\/b> 94.753.692 TL<\/li>\n<li><b>30 Eyl\u00fcl 2025 K\u0131sa Vadeli Banka Bor\u00e7lar\u0131:<\/b> 1.415.748 TL<\/li>\n<\/ul>\n<p>Sadece dokuz ay i\u00e7inde k\u0131sa vadeli banka bor\u00e7lar\u0131n\u0131 neredeyse s\u0131f\u0131rlamak, ola\u011fan\u00fcst\u00fc bir finansal disiplinin do\u011frudan kan\u0131t\u0131d\u0131r. Bu stratejik hamle, bir \u00f6nceki maddede bahsetti\u011fimiz g\u00fc\u00e7l\u00fc operasyonel nakit ak\u0131\u015f\u0131yla m\u00fcmk\u00fcn k\u0131l\u0131nm\u0131\u015ft\u0131r. \u015eirket, faaliyetlerinden kazand\u0131\u011f\u0131 ger\u00e7ek paray\u0131, finansal risklerini azaltmak ve bilan\u00e7osunu daha sa\u011flam bir yap\u0131ya kavu\u015fturmak i\u00e7in stratejik olarak kullan\u0131yor.<\/p>\n<h3><b>3. K\u00fcresel G\u00fc\u00e7, Yerel Gurur: \u0130hracat Performans\u0131 G\u00f6z Dolduruyor<\/b><\/h3>\n<p>MEKA Global, faaliyet raporunda kendisini 100&#8217;den fazla \u00fclkede faaliyet g\u00f6steren bir &#8220;d\u00fcnya markas\u0131&#8221; olarak tan\u0131ml\u0131yor. Finansal tablolardaki gelir k\u0131r\u0131l\u0131m\u0131, bu iddian\u0131n ne kadar g\u00fc\u00e7l\u00fc rakamlarla desteklendi\u011fini g\u00f6zler \u00f6n\u00fcne seriyor. 2025&#8217;in ilk dokuz ay\u0131nda \u015firketin has\u0131lat\u0131 \u015fu \u015fekilde ger\u00e7ekle\u015fmi\u015f:<\/p>\n<ul>\n<li><b>Yurtd\u0131\u015f\u0131 Sat\u0131\u015flar:<\/b> 1.438.391.570 TL<\/li>\n<li><b>Yurti\u00e7i Sat\u0131\u015flar:<\/b> 475.409.806 TL<\/li>\n<\/ul>\n<p>Basit bir hesaplama, tablonun ne kadar etkileyici oldu\u011funu ortaya koyuyor: \u015firketin toplam net sat\u0131\u015flar\u0131n\u0131n yakla\u015f\u0131k <b>%77&#8217;si<\/b> ihracattan geliyor. Bu sadece bir rakam de\u011fil, \u015firketin k\u00fcresel pazarlardaki g\u00fcc\u00fcn\u00fcn bir ilan\u0131d\u0131r. Faaliyet raporunda ad\u0131 ge\u00e7en <b>ABD, \u0130ngiltere, Avustralya ve Kanada<\/b> gibi geli\u015fmi\u015f pazarlara yap\u0131lan ihracat, MEKA Global&#8217;in d\u00fcnya sahnesindeki rekabet\u00e7i konumunu ve kalitesini tescilliyor. Bu k\u00fcresel eri\u015fim, \u015firketin gelir kaynaklar\u0131n\u0131 \u00e7e\u015fitlendirerek tek bir pazara olan ba\u011f\u0131ml\u0131l\u0131\u011f\u0131n\u0131 azalt\u0131yor ve onu dalgalanmalara kar\u015f\u0131 daha dayan\u0131kl\u0131 k\u0131l\u0131yor.<\/p>\n<h3><b>4. Gelece\u011fe Yat\u0131r\u0131m: K\u00f6klerine Sad\u0131k Kalarak \u0130novasyona Devam<\/b><\/h3>\n<p>Bir \u015firketin net zarar a\u00e7\u0131klad\u0131\u011f\u0131 bir d\u00f6nemde genellikle harcama kesintileri beklenir. Ancak MEKA Global, tam tersi bir strateji izleyerek kurumsal kimli\u011fine ne kadar sad\u0131k oldu\u011funu g\u00f6steriyor. \u015eirketin faaliyet raporu, MEKA&#8217;n\u0131n 1987 y\u0131l\u0131nda bir &#8220;<b>Ar-Ge ve inovasyon merkezi<\/b>&#8221; olarak kuruldu\u011funu a\u00e7\u0131k\u00e7a belirtiyor.<\/p>\n<p>Bu k\u00f6klere ba\u011fl\u0131l\u0131\u011f\u0131n en net kan\u0131t\u0131 ise gelir tablosunda sakl\u0131. \u015eirketin Ara\u015ft\u0131rma ve Geli\u015ftirme (Ar-Ge) harcamalar\u0131 ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re neredeyse ikiye katlanm\u0131\u015f durumda:<\/p>\n<ul>\n<li><b>2024 \u0130lk 9 Ay Ar-Ge Giderleri:<\/b> 10.612.555 TL<\/li>\n<li><b>2025 \u0130lk 9 Ay Ar-Ge Giderleri:<\/b> 21.258.258 TL<\/li>\n<\/ul>\n<p>Faaliyet raporunda belirtildi\u011fi \u00fczere, \u015firketin T.C. Sanayi ve Teknoloji Bakanl\u0131\u011f\u0131 taraf\u0131ndan tescillenmi\u015f bir Ar-Ge Merkezi&#8217;ne sahip olmas\u0131, bu harcamalar\u0131n anl\u0131k bir karar de\u011fil, \u015firketin DNA&#8217;s\u0131n\u0131n bir par\u00e7as\u0131 oldu\u011funu teyit ediyor. Zarar raporlanan bir d\u00f6nemde Ar-Ge&#8217;ye yat\u0131r\u0131m\u0131 bu denli art\u0131rmak, y\u00f6netimin \u015firketin kurucu vizyonuna ba\u011fl\u0131 kalarak uzun vadeli rekabet g\u00fcc\u00fcne ve inovasyona \u00f6ncelik verdi\u011fini g\u00f6steren cesur bir ad\u0131md\u0131r.<\/p>\n<h3><b>5. Finansal Temelleri Beton Gibi Sa\u011flamla\u015ft\u0131rmak<\/b><\/h3>\n<p>Raporlarda dikkat \u00e7eken en \u00e7arp\u0131c\u0131 de\u011fi\u015fikliklerden biri de \u015firketin \u00f6zkaynak yap\u0131s\u0131nda ya\u015fan\u0131yor. \u015eirketin \u00d6denmi\u015f Sermayesi&#8217;nde devasa bir art\u0131\u015f var:<\/p>\n<ul>\n<li><b>2024 Y\u0131l Sonu \u00d6denmi\u015f Sermaye:<\/b> 62.500.000 TL<\/li>\n<li><b>30 Eyl\u00fcl 2025 \u00d6denmi\u015f Sermaye:<\/b> 800.000.000 TL<\/li>\n<\/ul>\n<p>Bu art\u0131\u015f, d\u0131\u015far\u0131dan yeni bir nakit giri\u015fiyle de\u011fil, &#8220;Bedelsiz Sermaye Art\u0131r\u0131m\u0131&#8221; yoluyla ger\u00e7ekle\u015fmi\u015f. Yani \u015firket, kendi i\u00e7 kaynaklar\u0131n\u0131 \u00e7ekirdek sermayesine eklemi\u015f. Finansal raporlar, bu devasa art\u0131\u015f\u0131n kayna\u011f\u0131n\u0131 net bir \u015fekilde ortaya koyuyor: <b>368 milyon TL<\/b> hisse senedi primlerinden, <b>333,4 milyon TL<\/b> sermaye d\u00fczeltme farklar\u0131ndan ve <b>36,1 milyon TL<\/b> de ge\u00e7mi\u015f y\u0131l k\u00e2rlar\u0131ndan aktar\u0131lm\u0131\u015f.<\/p>\n<p>Bu i\u015flemi \u015firketin, &#8220;uzun vadeli birikim&#8221; ve &#8220;hisse senedi de\u011fer art\u0131\u015f\u0131&#8221; gibi kumbaralar\u0131ndaki paray\u0131, g\u00fcnl\u00fck operasyonlar\u0131n\u0131 ve g\u00fcc\u00fcn\u00fc yans\u0131tan ana &#8220;vadesiz hesab\u0131na&#8221; aktarmas\u0131 gibi d\u00fc\u015f\u00fcnebiliriz. Kasaya d\u0131\u015far\u0131dan yeni para girmese de, \u015firketin finansal temeli resmi olarak \u00e7ok daha b\u00fcy\u00fck ve sars\u0131lmaz hale geliyor. Bu, y\u00f6netimin \u015firketin uzun vadeli istikrar\u0131na olan g\u00fcvenini g\u00f6steren g\u00fc\u00e7l\u00fc bir sinyaldir.<\/p>\n<h3><b>Sonu\u00e7<\/b><\/h3>\n<p>MEKA Global&#8217;in finansal tablolar\u0131, bir \u015firketin ger\u00e7ek performans\u0131n\u0131 anlamak i\u00e7in tek bir rakama bakman\u0131n ne kadar yan\u0131lt\u0131c\u0131 olabilece\u011fini g\u00f6steren m\u00fckemmel bir \u00f6rnek. Man\u015fetlerin ard\u0131nda, operasyonel bir g\u00fc\u00e7 merkezi, finansal bir disiplin abidesi ve gelece\u011fe d\u00f6n\u00fck sars\u0131lmaz bir vizyon yat\u0131yor. Rakamlar, faaliyetlerinden rekor seviyede nakit \u00fcreten, bu nakitle bor\u00e7lar\u0131n\u0131 kapatan, gelirlerini k\u00fcresel pazarlara yayan ve k\u00f6klerindeki inovasyon ruhuna yat\u0131r\u0131m yapmaktan \u00e7ekinmeyen bir \u015firket profili ortaya \u00e7\u0131kar\u0131yor.<\/p>\n<p>Bir \u015firketin finansal tablosuna bir sonraki bak\u0131\u015f\u0131n\u0131zda, man\u015fet rakamlar\u0131n arkas\u0131nda hangi hikayeyi arayacaks\u0131n\u0131z?<\/p>\n<p>&nbsp;<\/p>\n<h1><span style=\"color: #0000ff;\">MEKA GLOBAL 30 Eyl\u00fcl 2025 Finansal ve Operasyonel Durum Brifingi<\/span><\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu brifing, MEKA Global Makine \u0130malat Sanayi ve Ticaret A.\u015e. ve ba\u011fl\u0131 ortakl\u0131\u011f\u0131n\u0131n (&#8220;Grup&#8221;) 30 Eyl\u00fcl 2025 tarihi itibar\u0131yla konsolide finansal durumunu ve operasyonel faaliyetlerini kapsaml\u0131 bir \u015fekilde analiz etmektedir. 1987 y\u0131l\u0131nda kurulan ve beton santralleri ile k\u0131rma-eleme tesisleri \u00fcretiminde uzmanla\u015fan MEKA, \u00fcr\u00fcnlerinin %85&#8217;ten fazlas\u0131n\u0131 100&#8217;den fazla \u00fclkeye ihra\u00e7 eden k\u00fcresel bir oyuncu konumundad\u0131r.<\/p>\n<p>2025 y\u0131l\u0131n\u0131n ilk dokuz ayl\u0131k d\u00f6neminde Grup, bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine k\u0131yasla hafif bir d\u00fc\u015f\u00fc\u015fle 1,86 milyar TL has\u0131lat elde etmi\u015ftir. Pazarlama ve Ar-Ge giderlerindeki art\u0131\u015flar\u0131n etkisiyle faaliyet zarar\u0131 78,9 milyon TL olarak ger\u00e7ekle\u015firken, net d\u00f6nem zarar\u0131 ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemindeki 132,8 milyon TL&#8217;den 71,5 milyon TL&#8217;ye gerileyerek \u00f6nemli bir iyile\u015fme g\u00f6stermi\u015ftir.<\/p>\n<p>Bilan\u00e7o taraf\u0131nda en dikkat \u00e7ekici geli\u015fme, i\u00e7 kaynaklardan kar\u015f\u0131lanan 737,5 milyon TL&#8217;lik bedelsiz sermaye art\u0131r\u0131m\u0131 ile \u00f6denmi\u015f sermayenin 62,5 milyon TL&#8217;den 800 milyon TL&#8217;ye \u00e7\u0131kar\u0131lmas\u0131d\u0131r. Bu d\u00f6nemde Grubun nakit pozisyonu 100,9 milyon TL&#8217;den 346,5 milyon TL&#8217;ye y\u00fckselmi\u015f, k\u0131sa vadeli bor\u00e7lanmalar ise 94,8 milyon TL&#8217;den 1,4 milyon TL&#8217;ye d\u00fc\u015ferek finansal yap\u0131n\u0131n g\u00fc\u00e7lendi\u011fini g\u00f6stermi\u015ftir. Faaliyetlerden elde edilen nakit ak\u0131\u015f\u0131, ge\u00e7en y\u0131lki negatif performansa kar\u015f\u0131n 430,6 milyon TL&#8217;lik g\u00fc\u00e7l\u00fc bir pozitif rakama ula\u015fm\u0131\u015ft\u0131r.<\/p>\n<p>Operasyonel olarak, T.C. Sanayi ve Teknoloji Bakanl\u0131\u011f\u0131 taraf\u0131ndan tescilli Ar-Ge merkezi faaliyetlerine devam etmi\u015f ve bu d\u00f6nemde maddi olmayan duran varl\u0131klara 30,4 milyon TL&#8217;lik geli\u015ftirme gideri yat\u0131r\u0131m\u0131 yap\u0131lm\u0131\u015ft\u0131r. Grubun finansal kald\u0131ra\u00e7 ve \u00f6zkaynak oranlar\u0131 istikrar\u0131n\u0131 korurken, br\u00fct k\u00e2r marj\u0131nda bir miktar daralma g\u00f6zlenmi\u015ftir. \u015eirket, kur riski y\u00f6netimi ve yasal s\u00fcre\u00e7ler gibi konularda proaktif bir yakla\u015f\u0131m sergilemektedir.<\/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 Genel Bak\u0131\u015f<\/h2>\n<h3>1.1. \u015eirket Profili ve Faaliyet Alanlar\u0131<\/h3>\n<ul>\n<li><b>Kurulu\u015f ve Geli\u015fim:<\/b> 1987 y\u0131l\u0131nda Mehmet Kaybal taraf\u0131ndan bir Ar-Ge ve inovasyon merkezi olarak kurulan MEKA, k\u0131sa s\u00fcrede in\u015faat ve i\u015f makineleri \u00fcretimine odaklanm\u0131\u015ft\u0131r. \u015eirket, 11 Temmuz 2024 tarihinde unvan\u0131n\u0131 &#8220;Meka Global Makine \u0130malat Sanayi ve Ticaret Anonim \u015eirketi&#8221; olarak g\u00fcncellemi\u015ftir.<\/li>\n<li><b>Ana Faaliyet Alanlar\u0131:<\/b> Grup, iki ana \u00fcr\u00fcn kategorisinde end\u00fcstriyel tesis ve ekipman \u00fcretimi yapmaktad\u0131r:\n<ol>\n<li><b>Beton Santralleri:<\/b> Mobil, sabit, kompakt, \u015fantiye tipi, RCC ve Precast dahil olmak \u00fczere haz\u0131r beton, in\u015faat ve prekast end\u00fcstrileri i\u00e7in geni\u015f bir \u00fcr\u00fcn yelpazesi sunmaktad\u0131r.<\/li>\n<li><b>K\u0131rma, Eleme ve Y\u0131kama Ekipmanlar\u0131:<\/b> Agrega \u00fcretimi, madencilik ve geri d\u00f6n\u00fc\u015f\u00fcm end\u00fcstrileri i\u00e7in besleyiciler, k\u0131r\u0131c\u0131lar, elekler ve mobil tesisler tasarlay\u0131p \u00fcretmektedir.<\/li>\n<\/ol>\n<\/li>\n<li><b>Hizmetler:<\/b> \u015eirket, \u00fcr\u00fcnlerinin pazarlamas\u0131, tasar\u0131m\u0131, imalat\u0131, montaj\u0131 ve sat\u0131\u015f sonras\u0131 hizmetlerini (saha kurulumu, devreye alma, bak\u0131m-onar\u0131m) b\u00fct\u00fcnsel bir yakla\u015f\u0131mla sunmaktad\u0131r.<\/li>\n<li><b>Ar-Ge Merkezi:<\/b> \u015eirket, 13 Ocak 2021 tarihinde T.C. Sanayi ve Teknoloji Bakanl\u0131\u011f\u0131 taraf\u0131ndan tescillenmi\u015f bir Ar-Ge merkezine sahiptir.<\/li>\n<\/ul>\n<h3>1.2. K\u00fcresel Ayak \u0130zi ve \u0130hracat<\/h3>\n<ul>\n<li><b>Pazar Varl\u0131\u011f\u0131:<\/b> MEKA, ABD, \u0130ngiltere, Rusya, Fransa ve Avustralya dahil olmak \u00fczere 100&#8217;den fazla \u00fclkede 4.000&#8217;in \u00fczerinde tesis ve ekipman kurmu\u015ftur.<\/li>\n<li><b>\u0130hracat Oran\u0131:<\/b> \u015eirket, %90&#8217;\u0131 a\u015fan yerli girdi ile \u00fcretti\u011fi \u00fcr\u00fcnlerin %85&#8217;ten fazlas\u0131n\u0131 ihra\u00e7 etmektedir.<\/li>\n<li><b>Uluslararas\u0131 Organizasyonlar:<\/b> Rusya ve Cezayir&#8217;de kendi organizasyonlar\u0131 bulunmakta olup, 50&#8217;den fazla \u00fclkede i\u015f birlikleri mevcuttur.<\/li>\n<\/ul>\n<h3>1.3. Ba\u011fl\u0131 Ortakl\u0131k ve \u0130\u015ftirak Yap\u0131s\u0131<\/h3>\n<ul>\n<li><b>Ba\u011fl\u0131 Ortakl\u0131k (Tam Konsolidasyon):<\/b>\n<ul>\n<li><b>Meka \u0130thalat \u0130hracat Pazarlama ve Ticaret A.\u015e. (&#8220;Meka Pazarlama&#8221;):<\/b> %100 oran\u0131nda MEKA&#8217;ya aittir. 2014 y\u0131l\u0131nda kurulmu\u015f olup, Grubun \u00fcretti\u011fi \u00fcr\u00fcnlerin ihracat ve pazarlama faaliyetlerini y\u00fcr\u00fctmektedir. \u0130hracat\u0131n yakla\u015f\u0131k %90&#8217;\u0131 bu \u015firket \u00fczerinden ger\u00e7ekle\u015ftirilmektedir.<\/li>\n<\/ul>\n<\/li>\n<li><b>\u0130\u015ftirak (Konsolide Edilmemi\u015f):<\/b>\n<ul>\n<li><b>Sarl Meka Algeria:<\/b> Cezayir&#8217;de kurulu olan bu \u015firkette MEKA %40 pay sahibidir. Ancak, y\u00f6netimde \u00f6nemli bir etkiye sahip olmad\u0131\u011f\u0131 i\u00e7in finansal tablolara maliyet bedeli ile yans\u0131t\u0131lmaktad\u0131r. \u015eirketin rol\u00fc, Cezayir pazar\u0131ndaki sat\u0131\u015flara arac\u0131l\u0131k etmektir.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3>1.4. Sermaye ve Ortakl\u0131k Yap\u0131s\u0131<\/h3>\n<p>30 Eyl\u00fcl 2025 itibar\u0131yla Grubun \u00e7\u0131kar\u0131lm\u0131\u015f sermayesi 800.000.000 TL&#8217;dir. 27 Haziran 2025 tarihli y\u00f6netim kurulu karar\u0131 ile i\u00e7 kaynaklardan (Sermaye D\u00fczeltmesi Olumlu Farklar\u0131, Hisse Senedi \u0130hra\u00e7 Primleri ve Ge\u00e7mi\u015f Y\u0131llar Karlar\u0131) kar\u015f\u0131lanmak \u00fczere 737.500.000 TL tutar\u0131nda bedelsiz sermaye art\u0131r\u0131m\u0131 ger\u00e7ekle\u015ftirilmi\u015ftir.<\/p>\n<p><b>Ortakl\u0131k Yap\u0131s\u0131 (30 Eyl\u00fcl 2025)<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Orta\u011f\u0131n Ad\u0131\/Soyad\u0131<\/td>\n<td>Pay Grubu<\/td>\n<td>Pay Tutar\u0131 (TL)<\/td>\n<td>Pay Oran\u0131 (%)<\/td>\n<\/tr>\n<tr>\n<td>Mehmet Kaybal<\/td>\n<td>A<\/td>\n<td>128.000.000<\/td>\n<td>16,00<\/td>\n<\/tr>\n<tr>\n<td>Mehmet Kaybal<\/td>\n<td>B<\/td>\n<td>327.680.000<\/td>\n<td>40,96<\/td>\n<\/tr>\n<tr>\n<td>Kerem Kaybal<\/td>\n<td>B<\/td>\n<td>32.000.000<\/td>\n<td>4,00<\/td>\n<\/tr>\n<tr>\n<td>Sinan Kaybal<\/td>\n<td>B<\/td>\n<td>32.000.000<\/td>\n<td>4,00<\/td>\n<\/tr>\n<tr>\n<td>Selma Kaybal<\/td>\n<td>B<\/td>\n<td>32.000.000<\/td>\n<td>4,00<\/td>\n<\/tr>\n<tr>\n<td>\u015eener K\u00f6ken<\/td>\n<td>B<\/td>\n<td>32.000.000<\/td>\n<td>4,00<\/td>\n<\/tr>\n<tr>\n<td>Halka A\u00e7\u0131k K\u0131s\u0131m<\/td>\n<td>B<\/td>\n<td>216.320.000<\/td>\n<td>27,04<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam<\/b><\/td>\n<td><\/td>\n<td><b>800.000.000<\/b><\/td>\n<td><b>100,00<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>\u0130mtiyazl\u0131 Paylar:<\/b> \u015eirket paylar\u0131 A ve B grubu olarak ikiye ayr\u0131lm\u0131\u015ft\u0131r. A grubu paylar, sahiplerine Genel Kurul toplant\u0131lar\u0131nda her bir pay i\u00e7in 5 oy hakk\u0131 ve Y\u00f6netim Kurulu&#8217;na aday g\u00f6sterme imtiyaz\u0131 tan\u0131maktad\u0131r.<\/p>\n<h2>2. Finansal Performans Analizi (30 Eyl\u00fcl 2025)<\/h2>\n<p><i>T\u00fcm tutarlar, aksi belirtilmedik\u00e7e, 30 Eyl\u00fcl 2025 tarihindeki sat\u0131n alma g\u00fcc\u00fcne g\u00f6re TL cinsinden ifade edilmi\u015ftir.<\/i><\/p>\n<h3>2.1. Gelir Tablosu Analizi<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem (TL)<\/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<\/b><\/td>\n<td><b>1.863.027.940<\/b><\/td>\n<td><b>1.953.785.975<\/b><\/td>\n<td>-4,64%<\/td>\n<\/tr>\n<tr>\n<td>Sat\u0131\u015flar\u0131n Maliyeti<\/td>\n<td>(1.470.953.436)<\/td>\n<td>(1.473.190.231)<\/td>\n<td>-0,15%<\/td>\n<\/tr>\n<tr>\n<td><b>Br\u00fct K\u00e2r<\/b><\/td>\n<td><b>392.074.504<\/b><\/td>\n<td><b>480.595.744<\/b><\/td>\n<td>-18,42%<\/td>\n<\/tr>\n<tr>\n<td>Pazarlama Giderleri<\/td>\n<td>(212.412.140)<\/td>\n<td>(149.143.334)<\/td>\n<td>+42,42%<\/td>\n<\/tr>\n<tr>\n<td>Ara\u015ft\u0131rma ve Geli\u015ftirme Giderleri<\/td>\n<td>(21.258.258)<\/td>\n<td>(10.612.555)<\/td>\n<td>+100,31%<\/td>\n<\/tr>\n<tr>\n<td><b>Faaliyet K\u00e2r\u0131\/(Zarar\u0131)<\/b><\/td>\n<td><b>(78.874.672)<\/b><\/td>\n<td><b>80.445.113<\/b><\/td>\n<td>&#8211;<\/td>\n<\/tr>\n<tr>\n<td><b>Vergi \u00d6ncesi K\u00e2r\/(Zarar)<\/b><\/td>\n<td><b>(27.166.386)<\/b><\/td>\n<td><b>(129.179.309)<\/b><\/td>\n<td>+78,97%<\/td>\n<\/tr>\n<tr>\n<td><b>Net D\u00f6nem K\u00e2r\u0131\/(Zarar\u0131)<\/b><\/td>\n<td><b>(71.502.361)<\/b><\/td>\n<td><b>(132.842.180)<\/b><\/td>\n<td>+46,17%<\/td>\n<\/tr>\n<tr>\n<td><b>Hisse Ba\u015f\u0131na Kazan\u00e7\/(Kay\u0131p)<\/b><\/td>\n<td><b>(0,4920)<\/b><\/td>\n<td><b>(2,1255)<\/b><\/td>\n<td>&#8211;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li><b>Has\u0131lat:<\/b> Grubun net sat\u0131\u015flar\u0131, 2025&#8217;in ilk dokuz ay\u0131nda ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re %4,6&#8217;l\u0131k bir d\u00fc\u015f\u00fc\u015f g\u00f6stermi\u015ftir. Yurtd\u0131\u015f\u0131 sat\u0131\u015flar 1,44 milyar TL, yurti\u00e7i sat\u0131\u015flar ise 475 milyon TL olarak ger\u00e7ekle\u015fmi\u015ftir.<\/li>\n<li><b>K\u00e2rl\u0131l\u0131k:<\/b> Sat\u0131\u015flar\u0131n maliyetindeki yatay seyre kar\u015f\u0131n has\u0131lattaki d\u00fc\u015f\u00fc\u015f ve operasyonel giderlerdeki (\u00f6zellikle pazarlama ve Ar-Ge) art\u0131\u015f, br\u00fct k\u00e2r\u0131n %18,4 azalmas\u0131na ve \u015firketin 80,4 milyon TL faaliyet k\u00e2r\u0131ndan 78,9 milyon TL faaliyet zarar\u0131na ge\u00e7mesine neden olmu\u015ftur.<\/li>\n<li><b>Net Sonu\u00e7:<\/b> Finansman giderlerindeki \u00f6nemli d\u00fc\u015f\u00fc\u015f ve net parasal pozisyon kazan\u00e7lar\u0131 sayesinde vergi \u00f6ncesi zarar ve net d\u00f6nem zarar\u0131, ge\u00e7en y\u0131la g\u00f6re belirgin \u015fekilde azalm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<h3>2.2. Finansal Durum Tablosu Analizi<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem (TL)<\/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>1.643.310.216<\/td>\n<td>1.697.298.680<\/td>\n<td>-3,18%<\/td>\n<\/tr>\n<tr>\n<td><i>Nakit ve Nakit Benzerleri<\/i><\/td>\n<td>346.545.925<\/td>\n<td>100.884.150<\/td>\n<td>+243,51%<\/td>\n<\/tr>\n<tr>\n<td><i>Finansal Yat\u0131r\u0131mlar<\/i><\/td>\n<td>21.100.886<\/td>\n<td>240.327.398<\/td>\n<td>-91,22%<\/td>\n<\/tr>\n<tr>\n<td><i>Stoklar<\/i><\/td>\n<td>970.667.116<\/td>\n<td>945.317.400<\/td>\n<td>+2,68%<\/td>\n<\/tr>\n<tr>\n<td><b>Duran Varl\u0131klar<\/b><\/td>\n<td>734.627.003<\/td>\n<td>794.405.548<\/td>\n<td>-7,53%<\/td>\n<\/tr>\n<tr>\n<td><b>TOPLAM VARLIKLAR<\/b><\/td>\n<td>2.377.937.219<\/td>\n<td>2.491.704.228<\/td>\n<td>-4,57%<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>K\u0131sa Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler<\/b><\/td>\n<td>932.576.488<\/td>\n<td>994.288.952<\/td>\n<td>-6,21%<\/td>\n<\/tr>\n<tr>\n<td><i>K\u0131sa Vadeli Bor\u00e7lanmalar<\/i><\/td>\n<td>1.415.748<\/td>\n<td>94.753.692<\/td>\n<td>-98,51%<\/td>\n<\/tr>\n<tr>\n<td><b>Uzun Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler<\/b><\/td>\n<td>99.096.147<\/td>\n<td>70.391.548<\/td>\n<td>+40,78%<\/td>\n<\/tr>\n<tr>\n<td><b>TOPLAM Y\u00dcK\u00dcML\u00dcL\u00dcKLER<\/b><\/td>\n<td>1.031.672.635<\/td>\n<td>1.064.680.500<\/td>\n<td>-3,10%<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>\u00d6zkaynaklar<\/b><\/td>\n<td>1.346.264.584<\/td>\n<td>1.427.023.728<\/td>\n<td>-5,66%<\/td>\n<\/tr>\n<tr>\n<td><i>\u00d6denmi\u015f Sermaye<\/i><\/td>\n<td>800.000.000<\/td>\n<td>62.500.000<\/td>\n<td>+1180,00%<\/td>\n<\/tr>\n<tr>\n<td><b>TOPLAM KAYNAKLAR<\/b><\/td>\n<td>2.377.937.219<\/td>\n<td>2.491.704.228<\/td>\n<td>-4,57%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li><b>Varl\u0131k Yap\u0131s\u0131:<\/b> Nakit ve nakit benzerleri, finansal yat\u0131r\u0131mlar\u0131n realize edilmesiyle \u00fc\u00e7 kattan fazla artm\u0131\u015ft\u0131r. Stoklar ve ticari alacaklar seviyelerini korumu\u015ftur.<\/li>\n<li><b>Y\u00fck\u00fcml\u00fcl\u00fck Yap\u0131s\u0131:<\/b> K\u0131sa vadeli banka kredilerinin neredeyse tamamen \u00f6denmesi, finansal y\u00fck\u00fcml\u00fcl\u00fcklerde \u00f6nemli bir d\u00fc\u015f\u00fc\u015f sa\u011flam\u0131\u015ft\u0131r. Ticari bor\u00e7lar ise stabil kalm\u0131\u015ft\u0131r.<\/li>\n<li><b>\u00d6zkaynak Yap\u0131s\u0131:<\/b> Ger\u00e7ekle\u015ftirilen bedelsiz sermaye art\u0131r\u0131m\u0131, \u00f6denmi\u015f sermayeyi 800 milyon TL&#8217;ye ta\u015f\u0131m\u0131\u015ft\u0131r. D\u00f6nem zarar\u0131 nedeniyle toplam \u00f6zkaynaklarda hafif bir d\u00fc\u015f\u00fc\u015f ya\u015fanm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<h3>2.3. Nakit Ak\u0131\u015f Analizi<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem (TL)<\/td>\n<td>1 Ocak &#8211; 30 Eyl\u00fcl 2025<\/td>\n<td>1 Ocak &#8211; 30 Eyl\u00fcl 2024<\/td>\n<\/tr>\n<tr>\n<td>Faaliyetlerden Do\u011fan Nakit Ak\u0131\u015flar\u0131<\/td>\n<td>430.610.278<\/td>\n<td>(137.428.982)<\/td>\n<\/tr>\n<tr>\n<td>Yat\u0131r\u0131m Faaliyetlerinden Kaynaklanan Nakit Ak\u0131\u015flar\u0131<\/td>\n<td>(43.832.830)<\/td>\n<td>(126.968.703)<\/td>\n<\/tr>\n<tr>\n<td>Finansman Faaliyetlerinden Nakit Ak\u0131\u015flar\u0131<\/td>\n<td>(94.965.388)<\/td>\n<td>183.599.314<\/td>\n<\/tr>\n<tr>\n<td><b>Nakit ve Nakit Benzerlerindeki De\u011fi\u015fim<\/b><\/td>\n<td><b>291.812.060<\/b><\/td>\n<td><b>(80.798.371)<\/b><\/td>\n<\/tr>\n<tr>\n<td>D\u00f6nem Ba\u015f\u0131 Nakit ve Nakit Benzerleri<\/td>\n<td>100.884.150<\/td>\n<td>372.306.231<\/td>\n<\/tr>\n<tr>\n<td><b>D\u00f6nem Sonu Nakit ve Nakit Benzerleri<\/b><\/td>\n<td><b>346.545.925<\/b><\/td>\n<td><b>193.238.307<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li>Grup, i\u015fletme sermayesindeki olumlu de\u011fi\u015fimler sayesinde faaliyetlerinden 430,6 milyon TL&#8217;lik g\u00fc\u00e7l\u00fc bir nakit ak\u0131\u015f\u0131 yaratm\u0131\u015ft\u0131r. Bu, ge\u00e7en y\u0131lki 137,4 milyon TL&#8217;lik negatif ak\u0131\u015fa k\u0131yasla b\u00fcy\u00fck bir geri d\u00f6n\u00fc\u015ft\u00fcr.<\/li>\n<li>Finansman faaliyetlerinden nakit \u00e7\u0131k\u0131\u015f\u0131, b\u00fcy\u00fck \u00f6l\u00e7\u00fcde bor\u00e7 geri \u00f6demelerinden kaynaklanm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<h2>3. Temel Finansal Rasyolar ve De\u011ferlendirmeler<\/h2>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Rasyo<\/td>\n<td>30 Eyl\u00fcl 2025<\/td>\n<td>31 Aral\u0131k 2024<\/td>\n<td>De\u011ferlendirme<\/td>\n<\/tr>\n<tr>\n<td><b>Cari Oran<\/b><\/td>\n<td>1,76<\/td>\n<td>1,71<\/td>\n<td>K\u0131sa vadeli y\u00fck\u00fcml\u00fcl\u00fckleri kar\u015f\u0131lama g\u00fcc\u00fc artm\u0131\u015ft\u0131r, likidite pozisyonu g\u00fc\u00e7l\u00fcd\u00fcr.<\/td>\n<\/tr>\n<tr>\n<td><b>Finansal Kald\u0131ra\u00e7<\/b><\/td>\n<td>0,43<\/td>\n<td>0,43<\/td>\n<td>Borcun toplam varl\u0131klara oran\u0131 de\u011fi\u015fmemi\u015f, istikrarl\u0131 bir bor\u00e7luluk yap\u0131s\u0131 vard\u0131r.<\/td>\n<\/tr>\n<tr>\n<td><b>\u00d6zkaynak Oran\u0131<\/b><\/td>\n<td>0,57<\/td>\n<td>0,57<\/td>\n<td>Varl\u0131klar\u0131n yar\u0131s\u0131ndan fazlas\u0131 \u00f6zkaynaklarla finanse edilmektedir, yap\u0131 stabildir.<\/td>\n<\/tr>\n<tr>\n<td><b>Br\u00fct K\u00e2r Marj\u0131 (%)<\/b><\/td>\n<td>21,05%<\/td>\n<td>24,60%<\/td>\n<td>Maliyet bask\u0131lar\u0131 veya sat\u0131\u015f fiyatlar\u0131ndaki de\u011fi\u015fimler nedeniyle marjda daralma olmu\u015ftur.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li><b>Borca Bat\u0131kl\u0131k Durumu:<\/b> \u015eirket, 30 Eyl\u00fcl 2025 mali tablolar\u0131na g\u00f6re T\u00fcrk Ticaret Kanunu&#8217;nun 376. maddesi \u00e7er\u00e7evesinde borca bat\u0131k de\u011fildir ve sermayesi kar\u015f\u0131l\u0131ks\u0131z kalmam\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<h2>4. Operasyonel ve Stratejik Geli\u015fmeler<\/h2>\n<ul>\n<li><b>Yat\u0131r\u0131mlar:<\/b> 2025&#8217;in ilk dokuz ay\u0131nda Grup, 16,7 milyon TL&#8217;si maddi (ta\u015f\u0131t, makine vb.) ve 30,4 milyon TL&#8217;si maddi olmayan (geli\u015ftirme giderleri) olmak \u00fczere toplamda 47,1 milyon TL&#8217;lik duran varl\u0131k yat\u0131r\u0131m\u0131 ger\u00e7ekle\u015ftirmi\u015ftir.<\/li>\n<li><b>Personel:<\/b> 30 Eyl\u00fcl 2025 itibar\u0131yla Grubun toplam personel say\u0131s\u0131 541&#8217;dir. Bu say\u0131, Y\u00f6netim Kurulu ve \u00fcst d\u00fczey y\u00f6neticileri de i\u00e7ermektedir.<\/li>\n<li><b>Y\u00f6netim ve Komiteler:<\/b> Y\u00f6netim Kurulu bu d\u00f6nemde 9 kez toplanm\u0131\u015ft\u0131r. \u015eirket b\u00fcnyesinde Sermaye Piyasas\u0131 Kurulu d\u00fczenlemeleri uyar\u0131nca Kurumsal Y\u00f6netim Komitesi, Riskin Erken Saptanmas\u0131 Komitesi ve Denetim Komitesi aktif olarak g\u00f6rev yapmaktad\u0131r.<\/li>\n<li><b>Risk Y\u00f6netimi:<\/b> Riskin Erken Saptanmas\u0131 Komitesi, ekonomik ve sekt\u00f6rel geli\u015fmeleri takip ederek enflasyon, d\u00f6viz kuru gibi riskleri periyodik olarak de\u011ferlendirmekte ve Y\u00f6netim Kurulu&#8217;na raporlamaktad\u0131r.<\/li>\n<\/ul>\n<h2>5. Riskler ve Y\u00fck\u00fcml\u00fcl\u00fckler<\/h2>\n<h3>5.1. D\u00f6viz Kuru Riski<\/h3>\n<p>Grup, yabanc\u0131 para cinsinden varl\u0131k ve y\u00fck\u00fcml\u00fcl\u00fckleri nedeniyle kur riskine maruz kalmaktad\u0131r. 30 Eyl\u00fcl 2025 itibar\u0131yla net yabanc\u0131 para pozisyonu 25.252.084 TL fazlad\u0131r.<\/p>\n<p><b>Net Yabanc\u0131 Para Pozisyonu Detay\u0131 (30 Eyl\u00fcl 2025)<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Para Birimi<\/td>\n<td>Net Pozisyon (TL Kar\u015f\u0131l\u0131\u011f\u0131)<\/td>\n<\/tr>\n<tr>\n<td>ABD Dolar\u0131<\/td>\n<td>+53.329.548<\/td>\n<\/tr>\n<tr>\n<td>Avro<\/td>\n<td>(34.718.662)<\/td>\n<\/tr>\n<tr>\n<td>RUB<\/td>\n<td>+6.707.160<\/td>\n<\/tr>\n<tr>\n<td>CNY<\/td>\n<td>+130.136<\/td>\n<\/tr>\n<tr>\n<td>GBP<\/td>\n<td>(196.098)<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam<\/b><\/td>\n<td><b>+25.252.084<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Duyarl\u0131l\u0131k Analizi:<\/b> Yabanc\u0131 para birimlerinin TL kar\u015f\u0131s\u0131nda %10 de\u011fer kazanmas\u0131 durumunda, Grubun k\u00e2r\/zarar tablosu \u00fczerinde ABD Dolar\u0131&#8217;ndan 5,3 milyon TL kazan\u00e7, Avro&#8217;dan ise 3,5 milyon TL kay\u0131p etkisi olu\u015facakt\u0131r.<\/p>\n<h3>5.2. Hukuki Durum ve Kar\u015f\u0131l\u0131klar<\/h3>\n<ul>\n<li><b>Davalar:<\/b> 30 Eyl\u00fcl 2025 itibar\u0131yla Grup taraf\u0131ndan y\u00fcr\u00fct\u00fclen 1.005.848 TL tutar\u0131nda dava ve icra takibi bulunmaktad\u0131r. Grup aleyhine a\u00e7\u0131lm\u0131\u015f ve devam eden dava tutar\u0131 ise 539.672 TL&#8217;dir. Bu tutar i\u00e7in finansal tablolarda dava kar\u015f\u0131l\u0131\u011f\u0131 ayr\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>Di\u011fer K\u0131sa Vadeli Kar\u015f\u0131l\u0131klar:<\/b> Grup, 14,2 milyon TL garanti kar\u015f\u0131l\u0131\u011f\u0131 ve 0,9 milyon TL izin kar\u015f\u0131l\u0131\u011f\u0131 olmak \u00fczere toplam 15,6 milyon TL k\u0131sa vadeli bor\u00e7 kar\u015f\u0131l\u0131\u011f\u0131 ay\u0131rm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<h3>5.3. Verilen Teminat, Rehin ve \u0130potekler (TR\u0130)<\/h3>\n<p>30 Eyl\u00fcl 2025 itibar\u0131yla Grubun kendi t\u00fczel ki\u015fili\u011fi ad\u0131na bankalara vermi\u015f oldu\u011fu teminat, rehin ve ipoteklerin toplam tutar\u0131 <b>13.336.109.759 TL<\/b>&#8216;dir. Bu tutar\u0131n \u00f6nemli bir k\u0131sm\u0131 Avro ve ABD Dolar\u0131 cinsindendir. Di\u011fer yandan, ortaklardan al\u0131nan TR\u0130 tutar\u0131 ise 9.714.339.959 TL&#8217;dir.<\/p>\n<button class=\"simplefavorite-button\" data-postid=\"450\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>Zarar Eden \u015eirket Nas\u0131l Nakit Kral\u0131 Olur? MEKA Global&#8217;in Finansal Raporundaki 5 \u015ea\u015f\u0131rt\u0131c\u0131 Ger\u00e7ek Giri\u015f Bir \u015firketin &#8220;net zarar&#8221; a\u00e7\u0131klad\u0131\u011f\u0131n\u0131 duydu\u011funuzda akl\u0131n\u0131za ilk ne gelir? \u00c7o\u011fumuz i\u00e7in bu, finansal s\u0131k\u0131nt\u0131lar\u0131n, k\u00fc\u00e7\u00fclmenin veya operasyonel sorunlar\u0131n bir i\u015fareti olarak alg\u0131lan\u0131r. Ancak finansal&#8230; <\/p>\n","protected":false},"author":1,"featured_media":461,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[94],"class_list":["post-450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-mekag"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/450","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=450"}],"version-history":[{"count":2,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/450\/revisions"}],"predecessor-version":[{"id":462,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/450\/revisions\/462"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media\/461"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media?parent=450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}