{"id":508,"date":"2025-12-25T03:15:12","date_gmt":"2025-12-25T00:15:12","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=508"},"modified":"2025-12-25T03:15:12","modified_gmt":"2025-12-25T00:15:12","slug":"%f0%9f%94%b4%f0%9f%87%b9%f0%9f%87%b7-mmcas-mmc-sanayi-ve-ticari-yatirimlar-2025-9-bilanco-analizi","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/508","title":{"rendered":"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #MMCAS | MMC Sanayi ve Ticari Yat\u0131r\u0131mlar 2025\/9 Bilan\u00e7o Analizi"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #MMCAS | MMC Sanayi ve Ticari Yat\u0131r\u0131mlar 2025\/9 Bilan\u00e7o Analizi\" width=\"858\" height=\"483\" src=\"https:\/\/www.youtube.com\/embed\/WgfOS4vh2hs?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>MMC Yat\u0131r\u0131m&#8217;\u0131n Perde Arkas\u0131: Finansal Raporlardan S\u0131zan 5 \u00c7arp\u0131c\u0131 Detay<\/h1>\n<h3>Giri\u015f: Rakamlar\u0131n Ard\u0131ndaki Hikaye<\/h3>\n<p>Halka a\u00e7\u0131k \u015firketlerin \u00fc\u00e7 ayl\u0131k finansal raporlar\u0131, genellikle yat\u0131r\u0131mc\u0131lar\u0131n ve analistlerin dikkatle inceledi\u011fi, ancak \u00e7o\u011fu zaman rakamlar\u0131n ve teknik terimlerin aras\u0131nda kaybolunan s\u0131k\u0131c\u0131 belgeler olarak g\u00f6r\u00fcl\u00fcr. Ancak bazen bu raporlar, bir \u015firketin ge\u00e7irdi\u011fi inan\u0131lmaz d\u00f6n\u00fc\u015f\u00fcmleri, keskin stratejik manevralar\u0131 ve \u015fa\u015f\u0131rt\u0131c\u0131 ger\u00e7ekleri bar\u0131nd\u0131ran birer hikaye kitab\u0131na d\u00f6n\u00fc\u015febilir. \u0130\u015fte Yak\u0131n \u0130zleme Pazar\u0131&#8217;nda i\u015flem g\u00f6ren MMC Sanayi ve Ticari Yat\u0131r\u0131mlar A.\u015e.&#8217;nin (MMCAS) 2025 y\u0131l\u0131 3. \u00e7eyrek raporlar\u0131, tam da b\u00f6yle bir hikayeyi, rakamlar\u0131n ard\u0131na gizlenmi\u015f \u00e7arp\u0131c\u0131 detaylarla 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>1. \u0130nan\u0131lmaz D\u00f6n\u00fc\u015f\u00fcm: Lojistikten G\u0131daya, Geri D\u00f6n\u00fc\u015f\u00fcmden Medyaya<\/h3>\n<p>Bir \u015firketin faaliyet alan\u0131n\u0131 de\u011fi\u015ftirmesi s\u0131k kar\u015f\u0131la\u015f\u0131lan bir durumdur, ancak MMC&#8217;nin ba\u011fl\u0131 ortakl\u0131klar\u0131n\u0131n ya\u015fad\u0131\u011f\u0131 d\u00f6n\u00fc\u015f\u00fcm, h\u0131z ve y\u00f6n itibar\u0131yla olduk\u00e7a dikkat \u00e7ekici.<\/p>\n<p>Raporlara g\u00f6re, \u015firketin k\u00f6keni 2000 y\u0131l\u0131nda &#8220;G\u00dcM-KOM Lojistik ve D\u0131\u015f Ticaret A.\u015e.&#8221; ad\u0131yla kurulmu\u015f bir lojistik firmas\u0131na dayan\u0131yor. Ancak as\u0131l \u015fa\u015f\u0131rt\u0131c\u0131 olan, ba\u011fl\u0131 ortakl\u0131klar\u0131n\u0131n \u00e7ok k\u0131sa s\u00fcre i\u00e7inde ya\u015fad\u0131\u011f\u0131 radikal faaliyet alan\u0131 de\u011fi\u015fiklikleri:<\/p>\n<ul>\n<li><b>Birinci D\u00f6n\u00fc\u015f\u00fcm:<\/b> G\u0131da sekt\u00f6r\u00fcnde faaliyet g\u00f6steren ba\u011fl\u0131 ortakl\u0131k &#8220;Okenos G\u0131da Sanayi ve Ticaret A.\u015e.&#8221;, Haziran 2024&#8217;te &#8220;Hep \u0130leri Medya Anonim \u015eirketi&#8221; ad\u0131n\u0131 alarak medya, organizasyon ve reklamc\u0131l\u0131k alan\u0131na keskin bir ge\u00e7i\u015f yap\u0131yor.<\/li>\n<li><b>\u0130kinci D\u00f6n\u00fc\u015f\u00fcm:<\/b> Ocak 2024&#8217;te plastik, metal ve at\u0131k toplama gibi geri d\u00f6n\u00fc\u015f\u00fcm faaliyetleri amac\u0131yla kurulan &#8220;Alpefe \u0130thalat \u0130hracat Ticaret Anonim \u015eirketi&#8221;, sadece d\u00f6rt ay sonra, May\u0131s 2024&#8217;te &#8220;Dijital Endeks Yay\u0131nc\u0131l\u0131k Anonim \u015eirketi&#8221; ad\u0131yla yine medya ve yay\u0131nc\u0131l\u0131k sekt\u00f6r\u00fcne odaklan\u0131yor.<\/li>\n<\/ul>\n<p>Bu iki neredeyse e\u015f zamanl\u0131 ve benzer y\u00f6ndeki pivot, s\u0131radan bir strateji g\u00fcncellemesinden \u00e7ok daha fazlas\u0131n\u0131 ifade ediyor. Bu, \u015firketin i\u015f modelinde temel bir de\u011fi\u015fime i\u015faret ediyor: Lojistik, g\u0131da \u00fcretimi ve fiziksel geri d\u00f6n\u00fc\u015f\u00fcm gibi varl\u0131k-yo\u011fun ve somut end\u00fcstrilerden, medya ve yay\u0131nc\u0131l\u0131k gibi varl\u0131k-hafif ve soyut bir end\u00fcstriye topyek\u00fbn bir ge\u00e7i\u015f. Bu stratejik mercek, di\u011fer \u015fa\u015f\u0131rt\u0131c\u0131 detaylar\u0131 anlamak i\u00e7in de bir anahtar niteli\u011finde.<\/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. D\u00f6rt Ki\u015filik Dev Kadro: Halka A\u00e7\u0131k Bir \u015eirket Sadece 4 Personelle Nas\u0131l \u00c7al\u0131\u015f\u0131r?<\/h3>\n<p>\u015eirketin operasyonel yap\u0131s\u0131yla ilgili en \u015fa\u015f\u0131rt\u0131c\u0131 detaylardan biri personel say\u0131s\u0131nda gizli. Faaliyet raporu ve konsolide finansal tablo dipnotlar\u0131na g\u00f6re, 30 Eyl\u00fcl 2025 itibar\u0131yla <b>Grup&#8217;un (ana \u015firket ve iki ba\u011fl\u0131 ortakl\u0131\u011f\u0131n\u0131n) toplam personel say\u0131s\u0131 sadece 4.<\/b><\/p>\n<p>Daha da ilginci, bu say\u0131n\u0131n bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemindeki (30 Eyl\u00fcl 2024) <b>7<\/b> olan personel say\u0131s\u0131ndan daha da azalm\u0131\u015f olmas\u0131. Halka a\u00e7\u0131k, iki ba\u011fl\u0131 ortakl\u0131\u011f\u0131 bulunan ve medya gibi dinamik bir sekt\u00f6rde faaliyet g\u00f6sterdi\u011fini beyan eden bir grubun bu kadar az personelle nas\u0131l faaliyet g\u00f6sterdi\u011fi ciddi bir merak konusu. Birinci maddede belirtilen varl\u0131k-hafif medya modeline ge\u00e7i\u015f bu durumu k\u0131smen a\u00e7\u0131klayabilir; ancak halka a\u00e7\u0131k bir grup i\u00e7in bu rakam yine de operasyonel bir verimlilik mi, yoksa \u015firketin fiili faaliyetlerinin niteli\u011fi hakk\u0131nda bir soru i\u015fareti mi do\u011furdu\u011fu konusunda analistleri d\u00fc\u015f\u00fcnd\u00fcr\u00fcyor.<\/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. Zirvedeki El De\u011fi\u015fimi: T\u00fcm \u0130mtiyazl\u0131 Hisseler Tek Bir \u0130sme Ge\u00e7ti<\/h3>\n<p>Finansal raporlar, \u015firketin ortakl\u0131k yap\u0131s\u0131nda \u00e7ok kritik bir de\u011fi\u015fikli\u011fin ya\u015fand\u0131\u011f\u0131n\u0131 ortaya koyuyor. Rapora g\u00f6re, 15 A\u011fustos 2025 tarihinde, ortaklardan Orhan PALA, \u015firketteki y\u00f6netim kontrol\u00fcn\u00fc sa\u011flayan imtiyazl\u0131 A ve B grubu paylar\u0131n\u0131n tamam\u0131n\u0131 \u00dcmit G\u00dcM\u00dc\u015e&#8217;e devretti. Bu devirle birlikte \u00dcmit G\u00dcM\u00dc\u015e, \u015firketin Y\u00f6netim Kurulu Ba\u015fkan\u0131 olarak g\u00f6rev yapmaktad\u0131r.<\/p>\n<p>Bu i\u015flem, basit bir hisse devrinden \u00e7ok daha fazlas\u0131n\u0131 ifade ediyor. Y\u00f6netim kuruluna aday g\u00f6sterme gibi kritik imtiyazlara sahip olan bu paylar\u0131n tek bir ki\u015fide toplanmas\u0131, \u015firketin stratejik y\u00f6netiminde tam bir g\u00fc\u00e7 konsolidasyonu anlam\u0131na geliyor. Bu hamle, \u015firketin gelecekteki kararlar\u0131n\u0131n \u00e7ok daha h\u0131zl\u0131 ve merkezi bir \u015fekilde al\u0131naca\u011f\u0131n\u0131n sinyalini veriyor.<\/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. Finansal Paradoks: Ciro D\u00fc\u015ferken Y\u00f6netici Maa\u015flar\u0131 Nas\u0131l Artar?<\/h3>\n<p>Raporlar, \u015firketin finansal performans\u0131 ile \u00fcst d\u00fczey y\u00f6netici \u00f6demeleri aras\u0131nda dikkat \u00e7ekici bir \u00e7eli\u015fkiyi g\u00f6zler \u00f6n\u00fcne seriyor.<\/p>\n<p><b>D\u00fc\u015fen Performans ve S\u00fcregelen Zarar<\/b> \u015eirketin has\u0131lat\u0131, 2024&#8217;\u00fcn ilk dokuz ay\u0131nda <b>10.411.984 TL<\/b> iken, 2025&#8217;in ayn\u0131 d\u00f6neminde <b>6.107.199 TL<\/b>&#8216;ye d\u00fc\u015fm\u00fc\u015f durumda. Daha da \u00f6nemlisi, \u015firket zarar etmeye devam ediyor. 2024&#8217;\u00fcn ayn\u0131 d\u00f6neminde <b>4.278.857 TL net zarar<\/b> a\u00e7\u0131klayan \u015firket, 2025&#8217;in ilk dokuz ay\u0131nda da <b>908.953 TL net zarar<\/b> etmi\u015f.<\/p>\n<p><b>Artan Y\u00f6netici \u00dccretleri<\/b> Bu olumsuz finansal tabloya ra\u011fmen, konsolide dipnotlarda yer alan bilgiye g\u00f6re \u00fcst d\u00fczey y\u00f6neticilere \u00f6denen \u00fccretler, 2024&#8217;\u00fcn ilk dokuz ay\u0131ndaki <b>373.223 TL<\/b>&#8216;den, 2025&#8217;in ayn\u0131 d\u00f6neminde <b>895.333 TL<\/b>&#8216;ye y\u00fckselmi\u015f. Bu, iki kattan fazla bir art\u0131\u015f demek.<\/p>\n<p>Has\u0131lat\u0131n d\u00fc\u015ft\u00fc\u011f\u00fc ve \u015firketin kronik olarak zarar etti\u011fi bir d\u00f6nemde y\u00f6netici \u00fccretlerinin bu denli artmas\u0131, yat\u0131r\u0131mc\u0131lar ve kamuoyu i\u00e7in dikkatle incelenmesi gereken bir paradoks olarak \u00f6ne \u00e7\u0131k\u0131yor.<\/p>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h3>5. Raporlarda Bir &#8220;Hayalet Sekt\u00f6r&#8221;: G\u0131da Varl\u0131klar\u0131 Nereye Kayboldu?<\/h3>\n<p>\u015eirketin sekt\u00f6rel oda\u011f\u0131n\u0131 ne kadar h\u0131zl\u0131 ve kesin bir \u015fekilde de\u011fi\u015ftirdi\u011finin en somut kan\u0131t\u0131, finansal raporlar\u0131n &#8220;B\u00f6l\u00fcmlere G\u00f6re Raporlama&#8221; notunda sakl\u0131. Rakamlar, bir sekt\u00f6r\u00fcn neredeyse tamamen buharla\u015farak yerini ba\u015fka sekt\u00f6rlere b\u0131rakt\u0131\u011f\u0131 karma\u015f\u0131k bir varl\u0131k transferini g\u00f6zler \u00f6n\u00fcne seriyor:<\/p>\n<ul>\n<li><b>31 Aral\u0131k 2024 sonunda:<\/b> \u015eirketin varl\u0131klar\u0131 \u00fc\u00e7 segment aras\u0131nda da\u011f\u0131l\u0131yordu. En b\u00fcy\u00fck pay <b>13.450.262 TL<\/b> ile &#8220;G\u0131da&#8221; segmentindeyken, &#8220;Dijital Medya&#8221; <b>3.033.329 TL<\/b> ve &#8220;Yat\u0131r\u0131m&#8221; segmenti sadece <b>976.390 TL<\/b> varl\u0131\u011fa sahipti.<\/li>\n<li><b>30 Eyl\u00fcl 2025 itibar\u0131yla:<\/b> Dokuz ay gibi k\u0131sa bir s\u00fcrede tablo tamamen de\u011fi\u015fti. &#8220;G\u0131da&#8221; segmentinin varl\u0131klar\u0131 <b>818.556 TL<\/b>&#8216;ye erirken, &#8220;Yat\u0131r\u0131m&#8221; segmenti <b>10.769.039 TL<\/b>&#8216;ye f\u0131rlad\u0131. Bu esnada &#8220;Dijital Medya&#8221; segmentinin varl\u0131klar\u0131 ise <b>2.000.108 TL<\/b>&#8216;ye geriledi.<\/li>\n<\/ul>\n<p>Bu dramatik de\u011fi\u015fim, ilk maddede bahsedilen stratejik d\u00f6n\u00fc\u015f\u00fcm\u00fcn finansal tablolara yans\u0131yan net bir foto\u011fraf\u0131. \u015eirket, varl\u0131k yap\u0131s\u0131n\u0131 b\u00fct\u00fcn\u00fcyle de\u011fi\u015ftirerek g\u0131da sekt\u00f6r\u00fcnden neredeyse tamamen \u00e7\u0131km\u0131\u015f ve oda\u011f\u0131n\u0131 a\u011f\u0131rl\u0131kl\u0131 olarak yat\u0131r\u0131m faaliyetlerine kayd\u0131rm\u0131\u015f durumda.<\/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: Bir D\u00f6n\u00fc\u015f\u00fcm Hikayesi mi, Belirsizlik mi?<\/h3>\n<p>MMC Yat\u0131r\u0131m&#8217;\u0131n finansal raporlar\u0131ndan derlenen bu be\u015f \u00e7arp\u0131c\u0131 nokta, \u015firketin ne kadar dinamik, s\u0131ra d\u0131\u015f\u0131 ve radikal bir yeniden yap\u0131lanma s\u00fcrecinden ge\u00e7ti\u011fini a\u00e7\u0131k\u00e7a g\u00f6steriyor. Keskin strateji de\u011fi\u015fiklikleri, y\u00f6netimde g\u00fc\u00e7 konsolidasyonu, \u015fa\u015f\u0131rt\u0131c\u0131 operasyonel yap\u0131 ve \u00e7eli\u015fkili finansal veriler, bir araya geldi\u011finde karma\u015f\u0131k bir tablo \u00e7iziyor.<\/p>\n<p>Peki, t\u00fcm bu veriler parlak bir stratejik yeniden do\u011fu\u015fun habercisi mi, yoksa kimli\u011fini arayan bir \u015firketin sanc\u0131l\u0131 s\u00fcrecini mi yans\u0131t\u0131yor? Bunun cevab\u0131n\u0131 muhtemelen bir sonraki faaliyet raporu verecek.<\/p>\n<p>&nbsp;<\/p>\n<h1><span style=\"color: #0000ff;\">MMC Sanayi ve Ticari Yat\u0131r\u0131mlar A.\u015e. Brifing Notu: 30 Eyl\u00fcl 2025 Faaliyet ve Finansal Durum Analizi<\/span><\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu brifing notu, MMC Sanayi ve Ticari Yat\u0131r\u0131mlar A.\u015e.&#8217;nin (&#8220;\u015eirket&#8221;) 30 Eyl\u00fcl 2025 tarihli faaliyet raporu ve konsolide finansal tablolar\u0131ndan elde edilen temel bulgular\u0131 ve stratejik \u00e7\u0131kar\u0131mlar\u0131 sentezlemektedir. Analizler, \u015eirket&#8217;in yap\u0131s\u0131nda, ortakl\u0131k durumunda ve finansal performans\u0131nda \u00f6nemli de\u011fi\u015fimlerin ya\u015fand\u0131\u011f\u0131 bir d\u00f6neme i\u015faret etmektedir.<\/p>\n<p><b>Temel Bulgular:<\/b><\/p>\n<ul>\n<li><b>Stratejik Eksen Kaymas\u0131:<\/b> \u015eirket, 2024 y\u0131l\u0131nda ba\u011fl\u0131 ortakl\u0131klar\u0131 arac\u0131l\u0131\u011f\u0131yla g\u0131da ve geri d\u00f6n\u00fc\u015f\u00fcm sekt\u00f6rlerinden \u00e7\u0131karak medya, organizasyon ve yay\u0131nc\u0131l\u0131k alanlar\u0131na net bir stratejik ge\u00e7i\u015f yapm\u0131\u015ft\u0131r. Bu de\u011fi\u015fim, ba\u011fl\u0131 ortakl\u0131klar\u0131n unvan ve faaliyet konusu de\u011fi\u015fiklikleri ile segment raporlamas\u0131ndaki varl\u0131k da\u011f\u0131l\u0131m\u0131nda a\u00e7\u0131k\u00e7a g\u00f6r\u00fclmektedir. &#8220;G\u0131da&#8221; segmentindeki varl\u0131klar dramatik bir \u015fekilde azal\u0131rken, &#8220;Yat\u0131r\u0131m&#8221; segmentindeki varl\u0131klar \u00f6nemli \u00f6l\u00e7\u00fcde artm\u0131\u015ft\u0131r.<\/li>\n<li><b>Y\u00f6netim ve Ortakl\u0131k De\u011fi\u015fikli\u011fi:<\/b> 15 A\u011fustos 2025 tarihinde, imtiyazl\u0131 A ve B grubu paylar\u0131n tamam\u0131 Orhan PALA taraf\u0131ndan \u00dcmit G\u00dcM\u00dc\u015e&#8217;e devredilmi\u015ftir. Bu devirle birlikte \u00dcmit G\u00dcM\u00dc\u015e, Y\u00f6netim Kurulu Ba\u015fkan\u0131 olarak \u015eirket&#8217;in y\u00f6netiminde kilit bir rol \u00fcstlenmi\u015ftir.<\/li>\n<li><b>Finansal Performans:<\/b> 2025&#8217;in ilk dokuz ay\u0131nda \u015eirket&#8217;in has\u0131lat\u0131 bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re d\u00fc\u015f\u00fc\u015f g\u00f6stermesine ra\u011fmen, sat\u0131\u015flar\u0131n maliyetinin s\u0131f\u0131r olmas\u0131 nedeniyle br\u00fct k\u00e2r artm\u0131\u015ft\u0131r. Operasyonel giderlerin y\u00fcksekli\u011fine ra\u011fmen, net d\u00f6nem zarar\u0131 ge\u00e7en y\u0131la k\u0131yasla \u00f6nemli \u00f6l\u00e7\u00fcde azalm\u0131\u015ft\u0131r. \u015eirket, (908.953) TL net d\u00f6nem zarar\u0131 kaydetmi\u015ftir.<\/li>\n<li><b>Bilan\u00e7o Yap\u0131s\u0131:<\/b> \u015eirket&#8217;in toplam varl\u0131klar\u0131 ve y\u00fck\u00fcml\u00fcl\u00fckleri 2024 sonuna g\u00f6re azalm\u0131\u015ft\u0131r. \u00d6zellikle nakit ve ticari alacaklardaki d\u00fc\u015f\u00fc\u015f dikkat \u00e7ekicidir. Faaliyetlerden kaynaklanan nakit ak\u0131\u015f\u0131 negatiftir.<\/li>\n<li><b>\u00d6nemli Hususlar:<\/b> \u015eirket aleyhine a\u00e7\u0131lm\u0131\u015f davalar i\u00e7in 3.058.290 TL tutar\u0131nda kar\u015f\u0131l\u0131k ayr\u0131lm\u0131\u015ft\u0131r. Ayr\u0131ca, finansal tablolar\u0131n T\u00fcrkiye Muhasebe Standard\u0131 29 (TMS 29) uyar\u0131nca enflasyon muhasebesi uygulanarak haz\u0131rland\u0131\u011f\u0131 unutulmamal\u0131d\u0131r.<\/li>\n<\/ul>\n<p>Sonu\u00e7 olarak, MMC Sanayi ve Ticari Yat\u0131r\u0131mlar A.\u015e., yeni y\u00f6netim alt\u0131nda medya ve yat\u0131r\u0131m faaliyetlerine odaklanan k\u00f6kl\u00fc bir yeniden yap\u0131lanma s\u00fcrecindedir. Finansal olarak zorlu bir d\u00f6nemden ge\u00e7mekle birlikte, zarar\u0131n\u0131 azaltma y\u00f6n\u00fcnde ad\u0131mlar atm\u0131\u015ft\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>1. \u015eirket Profili ve Kurumsal Yap\u0131<\/h3>\n<h4>1.1. Genel Bilgiler<\/h4>\n<p>A\u015fa\u011f\u0131daki tablo, 30 Eyl\u00fcl 2025 itibar\u0131yla \u015eirket&#8217;in temel kurumsal bilgilerini \u00f6zetlemektedir.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kategori<\/td>\n<td>Bilgi<\/td>\n<\/tr>\n<tr>\n<td><b>Ticaret Unvan\u0131<\/b><\/td>\n<td>MMC Sanayi ve Ticari Yat\u0131r\u0131mlar Anonim \u015eirketi<\/td>\n<\/tr>\n<tr>\n<td><b>Hisse Kodu<\/b><\/td>\n<td>MMCAS<\/td>\n<\/tr>\n<tr>\n<td><b>\u0130\u015flem G\u00f6rd\u00fc\u011f\u00fc Pazar<\/b><\/td>\n<td>Yak\u0131n \u0130zleme Pazar\u0131<\/td>\n<\/tr>\n<tr>\n<td><b>Kurulu\u015f Tarihi<\/b><\/td>\n<td>19.07.2000<\/td>\n<\/tr>\n<tr>\n<td><b>Ticaret Sicil Numaras\u0131<\/b><\/td>\n<td>\u0130stanbul \u2013 569126<\/td>\n<\/tr>\n<tr>\n<td><b>Adres 1 (Faaliyet Raporu)<\/b><\/td>\n<td>Levaz\u0131m Mah. Vadi Cad. Zorlu Center No:2 \u0130\u00e7 Kap\u0131 No:384 Be\u015fikta\u015f \u0130stanbul<\/td>\n<\/tr>\n<tr>\n<td><b>Adres 2 (Finansal Rapor)<\/b><\/td>\n<td>Ergenekon Mah. Cumhuriyet Cad. No 147 \u0130\u00e7 Kap\u0131 No 6 \u015ei\u015fli \u0130stanbul<\/td>\n<\/tr>\n<tr>\n<td><b>\u00d6denmi\u015f Sermaye<\/b><\/td>\n<td>13.336.879 TL<\/td>\n<\/tr>\n<tr>\n<td><b>Kay\u0131tl\u0131 Sermaye Tavan\u0131<\/b><\/td>\n<td>50.000.000 TL<\/td>\n<\/tr>\n<tr>\n<td><b>Ba\u011f\u0131ms\u0131z Denetim \u015eirketi<\/b><\/td>\n<td>Ar\u0131lar Ba\u011f\u0131ms\u0131z Denetim ve Yeminli Mali M\u00fc\u015favirlik A.\u015e.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h4>1.2. Faaliyet Alanlar\u0131 ve Tarih\u00e7e<\/h4>\n<p>2000 y\u0131l\u0131nda &#8220;G\u00dcM-KOM Lojistik ve D\u0131\u015f Ticaret A.\u015e.&#8221; unvan\u0131yla kurulan \u015eirket, 2012 y\u0131l\u0131nda \u00f6nce &#8220;Gentra Lojistik A.\u015e.&#8221; ad\u0131n\u0131 alm\u0131\u015f, ayn\u0131 y\u0131l i\u00e7inde mevcut unvan\u0131 olan &#8220;MMC Sanayi ve Ticari Yat\u0131r\u0131mlar A.\u015e.&#8221; olarak de\u011fi\u015ftirilmi\u015ftir. \u015eirket&#8217;in ana faaliyet konular\u0131 geni\u015f bir yelpazeyi kapsamaktad\u0131r:<\/p>\n<ul>\n<li>Yurt i\u00e7i ve yurt d\u0131\u015f\u0131 ta\u015f\u0131mac\u0131l\u0131k ve acentelik hizmetleri<\/li>\n<li>Gayrimenkul al\u0131m, sat\u0131m ve kiralama<\/li>\n<li>\u0130la\u00e7 sanayi alan\u0131nda ithalat ve ihracat<\/li>\n<li>Elektronik ticaret<\/li>\n<li>\u0130\u015ftirak yat\u0131r\u0131mlar\u0131nda bulunma<\/li>\n<\/ul>\n<h4>1.3. Ba\u011fl\u0131 Ortakl\u0131klar ve Stratejik Y\u00f6nelim<\/h4>\n<p>MMC&#8217;nin %100 oran\u0131nda sahipli\u011fe sahip oldu\u011fu iki ba\u011fl\u0131 ortakl\u0131\u011f\u0131 bulunmaktad\u0131r. Her iki ortakl\u0131k da 2024 y\u0131l\u0131nda \u00f6nemli unvan ve faaliyet alan\u0131 de\u011fi\u015fiklikleri ya\u015fam\u0131\u015ft\u0131r, bu da \u015eirket&#8217;in medya sekt\u00f6r\u00fcne y\u00f6nelik stratejik bir odaklanma i\u00e7inde oldu\u011funu g\u00f6stermektedir.<\/p>\n<ul>\n<li><b>Hep \u0130leri Medya Anonim \u015eirketi:<\/b>\n<ul>\n<li><b>Ge\u00e7mi\u015fi:<\/b> MMC, 10 A\u011fustos 2016&#8217;da &#8220;Okenos G\u0131da Sanayi ve Ticaret A.\u015e.&#8221;nin %57,36 hissesini sat\u0131n alm\u0131\u015ft\u0131r.<\/li>\n<li><b>D\u00f6n\u00fc\u015f\u00fcm:<\/b> 14 Haziran 2024 tarihli Genel Kurul karar\u0131yla \u015firketin unvan\u0131 &#8220;Hep \u0130leri Medya Anonim \u015eirketi&#8221; olarak de\u011fi\u015ftirilmi\u015ftir.<\/li>\n<li><b>Yeni Faaliyet Alan\u0131:<\/b> Esas s\u00f6zle\u015fme de\u011fi\u015fikli\u011fi ile faaliyet konusu genel olarak medya, etkinlik, organizasyon, tan\u0131t\u0131m, ileti\u015fim, reklam ve halkla ili\u015fkiler olarak g\u00fcncellenmi\u015ftir.<\/li>\n<li><b>Sahiplik:<\/b> 30.09.2025 itibar\u0131yla %100 MMC i\u015ftirakidir.<\/li>\n<\/ul>\n<\/li>\n<li><b>Dijital Endeks Yay\u0131nc\u0131l\u0131k Anonim \u015eirketi:<\/b>\n<ul>\n<li><b>Ge\u00e7mi\u015fi:<\/b> 12 Ocak 2024&#8217;te MMC&#8217;nin %100 i\u015ftiraki olarak &#8220;Alpefe \u0130thalat \u0130hracat Ticaret Anonim \u015eirketi&#8221; unvan\u0131yla kurulmu\u015ftur. \u0130lk faaliyet konusu \u00e7e\u015fitli kat\u0131 ve tehlikeli at\u0131klar\u0131n toplanmas\u0131 ve geri d\u00f6n\u00fc\u015f\u00fcm\u00fcyd\u00fc.<\/li>\n<li><b>D\u00f6n\u00fc\u015f\u00fcm:<\/b> 24 May\u0131s 2024 tarihli Genel Kurul karar\u0131yla \u015firketin unvan\u0131 &#8220;Dijital Endeks Yay\u0131nc\u0131l\u0131k Anonim \u015eirketi&#8221; olarak de\u011fi\u015ftirilmi\u015ftir.<\/li>\n<li><b>Yeni Faaliyet Alan\u0131:<\/b> Faaliyet konusu, Hep \u0130leri Medya ile paralel olarak medya, etkinlik, organizasyon ve reklamc\u0131l\u0131k alanlar\u0131na kayd\u0131r\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>Sahiplik:<\/b> 30.09.2025 itibar\u0131yla %100 MMC i\u015ftirakidir.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3>2. Ortakl\u0131k Yap\u0131s\u0131 ve Y\u00f6netim<\/h3>\n<h4>2.1. Sermaye ve Pay Yap\u0131s\u0131<\/h4>\n<p>\u015eirket sermayesi, farkl\u0131 imtiyazlara sahip \u00fc\u00e7 pay grubundan olu\u015fmaktad\u0131r:<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Pay Grubu<\/td>\n<td>Pay Adedi<\/td>\n<td>Pay Tutar\u0131 (TL)<\/td>\n<td>\u0130mtiyaz T\u00fcr\u00fc<\/td>\n<\/tr>\n<tr>\n<td>A Grubu<\/td>\n<td>470.713,35<\/td>\n<td>470.713,35<\/td>\n<td>Oy hakk\u0131 ve y\u00f6netim kuruluna aday g\u00f6sterme<\/td>\n<\/tr>\n<tr>\n<td>B Grubu<\/td>\n<td>470.713,35<\/td>\n<td>470.713,35<\/td>\n<td>Oy hakk\u0131 ve y\u00f6netim kuruluna aday g\u00f6sterme<\/td>\n<\/tr>\n<tr>\n<td>C Grubu<\/td>\n<td>12.395.452,3<\/td>\n<td>12.395.452,3<\/td>\n<td>\u0130mtiyaz yoktur<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam<\/b><\/td>\n<td><b>13.336.879<\/b><\/td>\n<td><b>13.336.879<\/b><\/td>\n<td>&#8211;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h4>2.2. Hissedar De\u011fi\u015fikli\u011fi ve G\u00fcncel Ortakl\u0131k Yap\u0131s\u0131<\/h4>\n<p>Raporlama d\u00f6neminde \u015eirket&#8217;in imtiyazl\u0131 pay yap\u0131s\u0131nda \u00f6nemli bir de\u011fi\u015fiklik ya\u015fanm\u0131\u015ft\u0131r.<\/p>\n<ul>\n<li><b>Pay Devri:<\/b> 15 A\u011fustos 2025 tarihinde, ortaklardan Orhan PALA, sahip oldu\u011fu 470.713,35 adet A grubu ve 470.713,35 adet B grubu imtiyazl\u0131 paylar\u0131n tamam\u0131n\u0131 borsa d\u0131\u015f\u0131nda \u00dcmit G\u00dcM\u00dc\u015e&#8217;e devretmi\u015ftir.<\/li>\n<\/ul>\n<p>Bu devir sonras\u0131 olu\u015fan 30 Eyl\u00fcl 2025 tarihli ortakl\u0131k yap\u0131s\u0131 a\u015fa\u011f\u0131daki gibidir:<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Hissedar<\/td>\n<td>Pay Tutar\u0131 (TL)<\/td>\n<td>Pay Oran\u0131 (%)<\/td>\n<\/tr>\n<tr>\n<td>\u00dcmit G\u00dcM\u00dc\u015e<\/td>\n<td>951.048,7<\/td>\n<td>7,13%<\/td>\n<\/tr>\n<tr>\n<td>Halka A\u00e7\u0131k K\u0131s\u0131m<\/td>\n<td>12.385.830,3<\/td>\n<td>92,87%<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam<\/b><\/td>\n<td><b>13.336.879<\/b><\/td>\n<td><b>100%<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h4>2.3. Y\u00f6netim Kurulu<\/h4>\n<p>Pay devrinin ard\u0131ndan y\u00f6netim kurulu da yeniden \u015fekillenmi\u015ftir. 30 Eyl\u00fcl 2025 itibar\u0131yla Y\u00f6netim Kurulu \u00fcyeleri \u015funlard\u0131r:<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Ad-Soyad<\/td>\n<td>G\u00f6rev<\/td>\n<\/tr>\n<tr>\n<td>\u00dcmit G\u00dcM\u00dc\u015e<\/td>\n<td>Y\u00f6netim Kurulu Ba\u015fkan\u0131<\/td>\n<\/tr>\n<tr>\n<td>Leyla KILI\u00c7<\/td>\n<td>Y\u00f6netim Kurulu Ba\u015fkan Vekili<\/td>\n<\/tr>\n<tr>\n<td>Ahmet DEM\u0130R\u00d6Z<\/td>\n<td>Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<\/tr>\n<tr>\n<td>Hamdi Volkan KARSAN<\/td>\n<td>Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<\/tr>\n<tr>\n<td>H\u00fcseyin \u00d6NALAN<\/td>\n<td>Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>3. 2025 Y\u0131l\u0131 \u0130lk Dokuz Ayl\u0131k Faaliyetlerin De\u011ferlendirmesi<\/h3>\n<p>01.01.2025 &#8211; 30.09.2025 d\u00f6neminde \u015eirket&#8217;in operasyonel faaliyetleri s\u0131n\u0131rl\u0131 kalm\u0131\u015ft\u0131r:<\/p>\n<ul>\n<li><b>Personel:<\/b> 30 Eyl\u00fcl 2025 itibar\u0131yla \u015eirket b\u00fcnyesinde 4 personel istihdam edilmektedir. Bu say\u0131, bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemindeki 7 ki\u015filik personel say\u0131s\u0131na g\u00f6re bir azalmay\u0131 g\u00f6stermektedir.<\/li>\n<li><b>Yat\u0131r\u0131m ve Ar-Ge:<\/b> \u0130lgili d\u00f6nemde herhangi bir yat\u0131r\u0131m veya ara\u015ft\u0131rma-geli\u015ftirme faaliyeti ger\u00e7ekle\u015ftirilmemi\u015ftir.<\/li>\n<li><b>Davalar:<\/b> \u015eirket aleyhine a\u00e7\u0131lan davalar i\u00e7in 3.058.290 TL tutar\u0131nda dava kar\u015f\u0131l\u0131\u011f\u0131 bulunmaktad\u0131r.<\/li>\n<li><b>Denetim ve Yapt\u0131r\u0131mlar:<\/b> D\u00f6nem i\u00e7inde herhangi bir \u00f6zel veya kamu denetimi ge\u00e7irilmemi\u015f, mevzuata ayk\u0131r\u0131 uygulamalar nedeniyle \u015eirket veya y\u00f6netim kurulu \u00fcyeleri hakk\u0131nda idari veya adli bir yapt\u0131r\u0131m uygulanmam\u0131\u015ft\u0131r.<\/li>\n<li><b>Di\u011fer Faaliyetler:<\/b> D\u00f6nem i\u00e7inde ba\u011f\u0131\u015f, hisse geri al\u0131m\u0131 veya esas s\u00f6zle\u015fme de\u011fi\u015fikli\u011fi yap\u0131lmam\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<h3>4. Finansal Performans Analizi<\/h3>\n<p><i>Not: T\u00fcm finansal veriler, TMS 29 &#8220;Y\u00fcksek Enflasyonlu Ekonomilerde Finansal Raporlama&#8221; standard\u0131 uyar\u0131nca 30 Eyl\u00fcl 2025 tarihindeki sat\u0131n alma g\u00fcc\u00fcne g\u00f6re d\u00fczeltilmi\u015f TL olarak sunulmu\u015ftur.<\/i><\/p>\n<h4>4.1. Finansal Durum Tablosu (Bilan\u00e7o) Analizi<\/h4>\n<p>\u015eirket&#8217;in bilan\u00e7osu, 2024 y\u0131l sonuna k\u0131yasla bir k\u00fc\u00e7\u00fclmeye i\u015faret etmektedir.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem (TL)<\/td>\n<td>30.09.2025<\/td>\n<td>31.12.2024<\/td>\n<td>De\u011fi\u015fim<\/td>\n<\/tr>\n<tr>\n<td>D\u00f6nen Varl\u0131klar<\/td>\n<td>5.533.694<\/td>\n<td>8.890.572<\/td>\n<td>\u25bc Azal\u0131\u015f<\/td>\n<\/tr>\n<tr>\n<td>Duran Varl\u0131klar<\/td>\n<td>3.932.463<\/td>\n<td>4.891.816<\/td>\n<td>\u25bc Azal\u0131\u015f<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Varl\u0131klar<\/b><\/td>\n<td><b>9.466.157<\/b><\/td>\n<td><b>13.782.388<\/b><\/td>\n<td><b>\u25bc Azal\u0131\u015f<\/b><\/td>\n<\/tr>\n<tr>\n<td>K\u0131sa Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler<\/td>\n<td>7.443.773<\/td>\n<td>11.203.999<\/td>\n<td>\u25bc Azal\u0131\u015f<\/td>\n<\/tr>\n<tr>\n<td>Uzun Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler<\/td>\n<td>95.636<\/td>\n<td>76.223<\/td>\n<td>\u25b2 Art\u0131\u015f<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Y\u00fck\u00fcml\u00fcl\u00fckler<\/b><\/td>\n<td><b>7.539.409<\/b><\/td>\n<td><b>11.280.222<\/b><\/td>\n<td><b>\u25bc Azal\u0131\u015f<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Toplam \u00d6zkaynaklar<\/b><\/td>\n<td><b>1.926.748<\/b><\/td>\n<td><b>2.502.166<\/b><\/td>\n<td><b>\u25bc Azal\u0131\u015f<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Varl\u0131klardaki d\u00fc\u015f\u00fc\u015f\u00fcn ana nedenleri nakit benzerleri (5,4 mn TL&#8217;den 3,9 mn TL&#8217;ye) ve ticari alacaklardaki (2,6 mn TL&#8217;den 544 bin TL&#8217;ye) azalmad\u0131r. Y\u00fck\u00fcml\u00fcl\u00fcklerdeki d\u00fc\u015f\u00fc\u015f ise b\u00fcy\u00fck \u00f6l\u00e7\u00fcde ili\u015fkili taraflardan ertelenmi\u015f gelirlerdeki (3,1 mn TL&#8217;den 144 bin TL&#8217;ye) azalmadan kaynaklanmaktad\u0131r. \u00d6zkaynaklardaki d\u00fc\u015f\u00fc\u015f\u00fcn sebebi ise d\u00f6nem zarar\u0131d\u0131r.<\/p>\n<h4>4.2. K\u00e2r\/Zarar Tablosu Analizi<\/h4>\n<p>2025&#8217;in ilk dokuz ay\u0131nda has\u0131lat d\u00fc\u015fse de net zarar \u00f6nemli \u00f6l\u00e7\u00fcde azalm\u0131\u015ft\u0131r.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem (TL)<\/td>\n<td>01.01-30.09.2025<\/td>\n<td>01.01-30.09.2024<\/td>\n<td>De\u011fi\u015fim<\/td>\n<\/tr>\n<tr>\n<td>Has\u0131lat<\/td>\n<td>6.107.199<\/td>\n<td>10.411.984<\/td>\n<td>\u25bc %41<\/td>\n<\/tr>\n<tr>\n<td>Sat\u0131\u015flar\u0131n Maliyeti<\/td>\n<td>0<\/td>\n<td>(6.164.528)<\/td>\n<td>&#8211;<\/td>\n<\/tr>\n<tr>\n<td><b>Br\u00fct K\u00e2r<\/b><\/td>\n<td><b>6.107.199<\/b><\/td>\n<td><b>4.247.456<\/b><\/td>\n<td><b>\u25b2 %44<\/b><\/td>\n<\/tr>\n<tr>\n<td>Esas Faaliyet Kar\u0131 \/ (Zarar\u0131)<\/td>\n<td>(1.059.284)<\/td>\n<td>(1.901.399)<\/td>\n<td>\u25b2 \u0130yile\u015fme<\/td>\n<\/tr>\n<tr>\n<td><b>Net D\u00f6nem Zarar\u0131<\/b><\/td>\n<td><b>(908.953)<\/b><\/td>\n<td><b>(4.278.857)<\/b><\/td>\n<td><b>\u25b2 \u0130yile\u015fme<\/b><\/td>\n<\/tr>\n<tr>\n<td>Pay Ba\u015f\u0131na Kay\u0131p (TL)<\/td>\n<td>(0,07)<\/td>\n<td>(0,32)<\/td>\n<td>\u25b2 \u0130yile\u015fme<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Dikkate de\u011fer en \u00f6nemli nokta, 2025 d\u00f6neminde &#8220;Sat\u0131\u015flar\u0131n Maliyeti&#8221; kaleminin s\u0131f\u0131r olmas\u0131d\u0131r. Bu durum, has\u0131lat\u0131n d\u00fc\u015fmesine ra\u011fmen br\u00fct k\u00e2r\u0131n artmas\u0131n\u0131 sa\u011flam\u0131\u015ft\u0131r ve \u015eirket&#8217;in i\u015f modelinde bir de\u011fi\u015fikli\u011fe (\u00f6rne\u011fin mal sat\u0131\u015f\u0131ndan hizmet gelirine ge\u00e7i\u015f) i\u015faret edebilir. Net zarardaki iyile\u015fme, bu br\u00fct k\u00e2rl\u0131l\u0131k art\u0131\u015f\u0131 ve finansman gelirlerinden kaynaklanmaktad\u0131r.<\/p>\n<h4>4.3. Nakit Ak\u0131\u015f Analizi<\/h4>\n<p>D\u00f6nem i\u00e7inde \u015eirket&#8217;in operasyonel faaliyetleri nakit \u00e7\u0131k\u0131\u015f\u0131na neden olmu\u015ftur.<\/p>\n<ul>\n<li><b>\u0130\u015fletme Faaliyetlerinden Net Nakit Ak\u0131\u015f\u0131:<\/b> (1.460.263) TL<\/li>\n<li><b>Yat\u0131r\u0131m Faaliyetlerinden Nakit Ak\u0131\u015f\u0131:<\/b> 0 TL<\/li>\n<li><b>Nakit ve Nakit Benzerlerindeki Net Azal\u0131\u015f:<\/b> (1.460.263) TL<\/li>\n<li><b>D\u00f6nem Ba\u015f\u0131 Nakit ve Nakit Benzerleri:<\/b> 4.311.373 TL<\/li>\n<li><b>D\u00f6nem Sonu Nakit ve Nakit Benzerleri:<\/b> 3.947.474 TL<\/li>\n<\/ul>\n<h4>4.4. B\u00f6l\u00fcmlere G\u00f6re Raporlama ve Stratejik De\u011fi\u015fim<\/h4>\n<p>Segmentlere g\u00f6re varl\u0131k da\u011f\u0131l\u0131m\u0131, \u015eirket&#8217;in stratejik y\u00f6nelimindeki de\u011fi\u015fimi a\u00e7\u0131k\u00e7a g\u00f6stermektedir.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Segment Toplam Varl\u0131klar\u0131 (TL)<\/td>\n<td>30.09.2025<\/td>\n<td>31.12.2024<\/td>\n<td>Stratejik Y\u00f6nelim<\/td>\n<\/tr>\n<tr>\n<td>Yat\u0131r\u0131m<\/td>\n<td>10.769.039<\/td>\n<td>976.390<\/td>\n<td><b>\u25b2 G\u00fc\u00e7l\u00fc Art\u0131\u015f<\/b><\/td>\n<\/tr>\n<tr>\n<td>Dijital Medya<\/td>\n<td>2.000.108<\/td>\n<td>3.033.329<\/td>\n<td>\u25bc Hafif Azal\u0131\u015f<\/td>\n<\/tr>\n<tr>\n<td>G\u0131da<\/td>\n<td>818.556<\/td>\n<td>13.450.262<\/td>\n<td><b>\u25bc Dramatik D\u00fc\u015f\u00fc\u015f<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Tablo, &#8220;G\u0131da&#8221; segmentinden neredeyse tamamen \u00e7\u0131k\u0131ld\u0131\u011f\u0131n\u0131 ve ana oda\u011f\u0131n &#8220;Yat\u0131r\u0131m&#8221; segmentine kayd\u0131r\u0131ld\u0131\u011f\u0131n\u0131 teyit etmektedir. Bu durum, ba\u011fl\u0131 ortakl\u0131klardaki unvan ve faaliyet alan\u0131 de\u011fi\u015fiklikleriyle tamamen uyumludur.<\/p>\n<h3>5. Risk Y\u00f6netimi ve De\u011ferlendirmesi<\/h3>\n<p>Y\u00f6netim Kurulu, \u015eirket&#8217;in varl\u0131\u011f\u0131n\u0131 tehlikeye atabilecek riskleri periyodik olarak de\u011ferlendirmekte ve gerekli \u00f6nlemleri almaktad\u0131r. Tan\u0131mlanan ba\u015fl\u0131ca risk kategorileri ve y\u00f6netim yakla\u015f\u0131mlar\u0131 \u015funlard\u0131r:<\/p>\n<ul>\n<li><b>Likidite Riski:<\/b> Yeterli nakit ve fonlama sa\u011flanamamas\u0131 riskine kar\u015f\u0131 periyodik analizler yap\u0131lmaktad\u0131r.<\/li>\n<li><b>Sermaye Riski:<\/b> Faaliyetlerin s\u00fcreklili\u011fi i\u00e7in bor\u00e7\/sermaye dengesi verimli bir \u015fekilde y\u00f6netilmektedir.<\/li>\n<li><b>Kur\/Faiz Riski:<\/b> Kur ve faiz oran\u0131 de\u011fi\u015fimlerinin etkilerini minimize etmek i\u00e7in \u00e7e\u015fitli korunma politikalar\u0131 uygulanmaktad\u0131r.<\/li>\n<li><b>Finansman Riski:<\/b> \u015eirket, operasyonel ihtiya\u00e7lar\u0131n\u0131 k\u0131sa vadeli kredilerle finanse etmekte ve likiditesi y\u00fcksek varl\u0131klarla kapat\u0131lamayacak finansman y\u00fcklerinden ka\u00e7\u0131nmaktad\u0131r.<\/li>\n<li><b>Ekonomik Riskler:<\/b> Ekonomik istikrars\u0131zl\u0131k, maliyet art\u0131\u015flar\u0131 gibi riskler duyarl\u0131l\u0131k analizleri ile \u00f6l\u00e7\u00fclmekte ve farkl\u0131 aksiyon planlar\u0131 olu\u015fturulmaktad\u0131r.<\/li>\n<li><b>Stratejik Riskler:<\/b> Rekabet, m\u00fc\u015fteri talepleri gibi riskler; yat\u0131r\u0131m \u00e7e\u015fitlendirmesi ve karar mekanizmalar\u0131n\u0131n etkin \u00e7al\u0131\u015ft\u0131r\u0131lmas\u0131yla y\u00f6netilmektedir.<\/li>\n<li><b>Hukuksal\/Politik Riskler:<\/b> B\u00fcrokratik ve yasal s\u00fcre\u00e7ler, s\u0131k\u0131 ve zaman\u0131nda takipler ile kontrol alt\u0131nda tutulmaktad\u0131r.<\/li>\n<li><b>Siber Sald\u0131r\u0131 Riski:<\/b> Sekt\u00f6r\u00fcn i\u015fleyi\u015fini aksatabilecek siber sald\u0131r\u0131lara kar\u015f\u0131 g\u00fcvenlik \u00f6nlemleri al\u0131nmaktad\u0131r.<\/li>\n<\/ul>\n<button class=\"simplefavorite-button\" data-postid=\"508\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>MMC Yat\u0131r\u0131m&#8217;\u0131n Perde Arkas\u0131: Finansal Raporlardan S\u0131zan 5 \u00c7arp\u0131c\u0131 Detay Giri\u015f: Rakamlar\u0131n Ard\u0131ndaki Hikaye Halka a\u00e7\u0131k \u015firketlerin \u00fc\u00e7 ayl\u0131k finansal raporlar\u0131, genellikle yat\u0131r\u0131mc\u0131lar\u0131n ve analistlerin dikkatle inceledi\u011fi, ancak \u00e7o\u011fu zaman rakamlar\u0131n ve teknik terimlerin aras\u0131nda kaybolunan s\u0131k\u0131c\u0131 belgeler olarak g\u00f6r\u00fcl\u00fcr&#8230;. <\/p>\n","protected":false},"author":1,"featured_media":509,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[110],"class_list":["post-508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-mmcas"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/508","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=508"}],"version-history":[{"count":1,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/508\/revisions"}],"predecessor-version":[{"id":510,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/508\/revisions\/510"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media\/509"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media?parent=508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}