{"id":676,"date":"2025-12-28T13:20:24","date_gmt":"2025-12-28T10:20:24","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=676"},"modified":"2025-12-31T01:03:32","modified_gmt":"2025-12-30T22:03:32","slug":"%f0%9f%94%b4%f0%9f%87%b9%f0%9f%87%b7-yyapi-yesil-yapi-endustrisi-2025-9-bilanco-analizi","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/676","title":{"rendered":"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #YYAPI | Ye\u015fil Yap\u0131 End\u00fcstrisi 2025\/9 Bilan\u00e7o Analizi"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"YYAPI\" width=\"858\" height=\"483\" src=\"https:\/\/www.youtube.com\/embed\/FlAhz7c8ZCI?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>Ye\u015fil Yap\u0131&#8217;n\u0131n Finansal Raporundan \u00c7\u0131kan ve Ezber Bozan 4 Ger\u00e7ek<\/h1>\n<p>Kurumsal faaliyet raporlar\u0131, genellikle rakamlar\u0131n ve yasal metinlerin aras\u0131nda kayboldu\u011fumuz, s\u0131k\u0131c\u0131 belgeler olarak bilinir. Ancak bazen, bu raporlar\u0131n sat\u0131r aralar\u0131nda bir \u015firketin gelece\u011fine dair ezber bozan stratejik ipu\u00e7lar\u0131 ve \u015fa\u015f\u0131rt\u0131c\u0131 ger\u00e7ekler gizlidir. Ye\u015fil Yap\u0131 End\u00fcstrisi A.\u015e.&#8217;nin 2025 y\u0131l\u0131 \u00fc\u00e7\u00fcnc\u00fc \u00e7eyrek raporu da tam olarak b\u00f6yle bir belge. Rakamlar\u0131n \u00f6tesine ge\u00e7ip \u015firketin gelecekteki yol haritas\u0131n\u0131 okudu\u011fumuzda, geleneksel bir in\u015faat \u015firketinden \u00e7ok daha fazlas\u0131n\u0131 g\u00f6r\u00fcyoruz. Bu yaz\u0131da, bu rapordan dam\u0131t\u0131lan ve \u015firketin stratejik d\u00f6n\u00fc\u015f\u00fcm\u00fcn\u00fc g\u00f6zler \u00f6n\u00fcne seren en \u00e7arp\u0131c\u0131 d\u00f6rt ger\u00e7e\u011fi inceleyece\u011fiz.<\/p>\n<h2>1. Sat\u0131\u015flar D\u00fc\u015ferken K\u00e2r Nas\u0131l Artar? Cevap: Stratejik Yat\u0131r\u0131mlar<\/h2>\n<p>\u0130lk bak\u0131\u015fta bir \u00e7eli\u015fki gibi g\u00f6r\u00fcnen bu durum, raporun en dikkat \u00e7ekici noktalar\u0131ndan biri. \u015eirketin 2025 y\u0131l\u0131n\u0131n ilk dokuz ay\u0131ndaki net sat\u0131\u015flar\u0131, bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re dramatik bir d\u00fc\u015f\u00fc\u015f g\u00f6stererek 36,5 milyon TL&#8217;den sadece 6,4 milyon TL&#8217;ye geriledi. Genellikle bu denli keskin bir sat\u0131\u015f d\u00fc\u015f\u00fc\u015f\u00fc, k\u00e2rl\u0131l\u0131kta ciddi bir erimeye i\u015faret eder. Ancak Ye\u015fil Yap\u0131&#8217;da tam tersi oldu: Ana ortakl\u0131k net d\u00f6nem k\u00e2r\u0131 247,5 milyon TL&#8217;den 333,5 milyon TL&#8217;ye y\u00fckseldi.<\/p>\n<p>Bu \u015fa\u015f\u0131rt\u0131c\u0131 tablonun arkas\u0131ndaki s\u0131r, \u015firketin ana operasyonel faaliyetlerinde de\u011fil, finansal stratejisinde gizli. Gelir tablosunu inceledi\u011fimizde, k\u00e2rdaki bu devasa art\u0131\u015f\u0131n as\u0131l itici g\u00fcc\u00fcn\u00fcn, &#8220;\u00d6zkaynak Y\u00f6ntemiyle De\u011ferlenen Yat\u0131r\u0131mlar\u0131n Karlar\u0131ndan Paylar&#8221; kaleminden gelen tam <b>460.525.133 TL<\/b>&#8216;lik gelir oldu\u011fu g\u00f6r\u00fcl\u00fcyor. Bu durum, Ye\u015fil Yap\u0131&#8217;n\u0131n art\u0131k sadece in\u015faat projeleriyle de\u011fil, ayn\u0131 zamanda portf\u00f6y\u00fcn\u00fc ak\u0131ll\u0131ca y\u00f6netti\u011fi stratejik yat\u0131r\u0131mlarla b\u00fcy\u00fcyen bir yap\u0131ya d\u00f6n\u00fc\u015ft\u00fc\u011f\u00fcn\u00fcn en net kan\u0131t\u0131.<\/p>\n<h2>2. &#8216;\u0130stanbul Tower-205&#8217; Projesi \u0130\u00e7in Sermaye \u0130kiye Katland\u0131<\/h2>\n<p>Rapor d\u00f6neminin en \u00f6nemli finansal olay\u0131, \u015firketin ger\u00e7ekle\u015ftirdi\u011fi dev sermaye art\u0131r\u0131m\u0131 oldu. Y\u00f6netim Kurulu, ba\u015flang\u0131\u00e7ta %200 olarak planlad\u0131\u011f\u0131 bedelli sermaye art\u0131\u015f\u0131n\u0131 %100 olarak revize ederek ba\u015far\u0131yla tamamlad\u0131. Bu hamleyle \u015firketin \u00e7\u0131kar\u0131lm\u0131\u015f sermayesi 852,5 milyon TL&#8217;den <b>1,7 milyar TL<\/b>&#8216;ye y\u00fckseltildi.<\/p>\n<p>Bu cesur finansal ad\u0131m\u0131n amac\u0131 son derece net: \u015eirketin gelecekteki b\u00fcy\u00fcme motoru olarak konumland\u0131rd\u0131\u011f\u0131 \u0130stanbul Levent&#8217;teki &#8220;\u0130stanbul Tower-205&#8221; projesini tamamlamak. Bu art\u0131\u015fla elde edilen toplam 865,7 milyon TL&#8217;lik fonun ana hedefi net bir \u015fekilde belirlendi: Nominal sermaye art\u0131\u015f\u0131ndan gelen tutar\u0131n 750 milyon TL&#8217;si, do\u011frudan \u015firketin prestij projesi &#8216;\u0130stanbul Tower-205&#8217;in tamamlanmas\u0131 i\u00e7in kullan\u0131lacak. Bu hamle, Ye\u015fil Yap\u0131&#8217;n\u0131n gelece\u011fini b\u00fcy\u00fck \u00f6l\u00e7ekli ve ikonik bir projeye ne kadar g\u00fc\u00e7l\u00fc bir \u015fekilde ba\u011flad\u0131\u011f\u0131n\u0131 ve bu vizyonu hayata ge\u00e7irmek i\u00e7in ne kadar kararl\u0131 oldu\u011funu a\u00e7\u0131k\u00e7a g\u00f6steriyor.<\/p>\n<h2>3. K\u00e2r\u0131n Arkas\u0131ndaki &#8216;Ye\u015fil&#8217; G\u00fc\u00e7: Enerji Yat\u0131r\u0131m\u0131 ve Halka Arz Sinyali<\/h2>\n<p>Peki, \u015firketin k\u00e2r\u0131n\u0131 operasyonel performans\u0131n\u0131n \u00f6n\u00fcne ge\u00e7iren o dev yat\u0131r\u0131m geliri nereden geldi? Cevap, \u015firketin %29,90 oran\u0131nda i\u015ftiraki olan <b>Ye\u015fil Global Enerji A.\u015e.<\/b>&#8216;de sakl\u0131. Ana faaliyet konusu &#8220;metan gaz\u0131ndan elektrik enerjisi \u00fcretimi&#8221; olan bu \u015firket, \u0130stanbul&#8217;da bulunan iki enerji santraliyle faaliyet g\u00f6steriyor.<\/p>\n<p>Bu yat\u0131r\u0131m, Ye\u015fil Yap\u0131 i\u00e7in sadece finansal bir getiri kap\u0131s\u0131 olman\u0131n \u00f6tesinde, \u015firketin ad\u0131yla da kusursuz bir uyum i\u00e7inde olan &#8220;ye\u015fil enerji&#8221; alan\u0131na yapt\u0131\u011f\u0131 stratejik bir d\u00f6n\u00fc\u015f\u00fcm hamlesi anlam\u0131na geliyor. Raporlar, bu stratejik \u00f6nemin alt\u0131n\u0131 \u00e7izen bir ba\u015fka \u00f6nemli detay\u0131 daha ortaya koyuyor: Ye\u015fil Global Enerji&#8217;nin halka arz\u0131 i\u00e7in Sermaye Piyasas\u0131 Kurulu (SPK) ve Borsa \u0130stanbul&#8217;a ba\u015fvuru yap\u0131lm\u0131\u015f durumda. Bu geli\u015fme, i\u015ftirakin gelecekte kendi de\u011ferini yaratma ve Ye\u015fil Yap\u0131 i\u00e7in yeni bir finansal kaynak ve de\u011fer \u00e7arpan\u0131 olma potansiyelini ta\u015f\u0131d\u0131\u011f\u0131n\u0131 g\u00f6steriyor.<\/p>\n<h2>4. Yal\u0131n Y\u00f6netim Sanat\u0131: 1,7 Milyar TL Sermayeli \u015eirketi Y\u00f6neten 11 Ki\u015filik Ekip<\/h2>\n<p>Raporun belki de en ezber bozan verisi, organizasyon yap\u0131s\u0131yla ilgili. 30 Eyl\u00fcl 2025 tarihi itibar\u0131yla, 1,7 milyar TL&#8217;yi a\u015fan \u00e7\u0131kar\u0131lm\u0131\u015f sermayeye ve 5,4 milyar TL&#8217;lik toplam varl\u0131\u011fa sahip olan Ye\u015fil Yap\u0131&#8217;n\u0131n ortalama personel say\u0131s\u0131 sadece <b>11 ki\u015fi<\/b>.<\/p>\n<p>Bu rakam, \u015firketin geleneksel bir operasyonel yap\u0131 yerine, i\u015ftirakleri ve ba\u011fl\u0131 ortakl\u0131klar\u0131 \u00fczerinden faaliyet g\u00f6steren, son derece yal\u0131n ve merkezi bir y\u00f6netim anlay\u0131\u015f\u0131n\u0131 benimsedi\u011finin a\u00e7\u0131k bir g\u00f6stergesi. Bu yal\u0131nl\u0131k, be\u015f \u00fcyeden olu\u015fan y\u00f6netim kurulu yap\u0131s\u0131nda ve &#8220;Kurumsal Y\u00f6netim Komitesi&#8217;nin Aday G\u00f6sterme ve \u00dccret Komitesi g\u00f6revlerini de yerine getirmesi&#8221; gibi komite g\u00f6revlerinin birle\u015ftirilmesinde de kendini g\u00f6steriyor. Bu model, \u015firkete b\u00fcy\u00fck bir \u00e7eviklik ve maliyet avantaj\u0131 sa\u011flarken, ayn\u0131 zamanda &#8216;kilit ki\u015fi riski&#8217; (key-person risk) gibi ciddi tehlikeleri de beraberinde getiriyor. Operasyonel ve stratejik bilginin sadece birka\u00e7 ki\u015fide toplanmas\u0131, olas\u0131 bir ayr\u0131l\u0131k durumunda \u015firketin kurumsal haf\u0131zas\u0131n\u0131 ve i\u015f s\u00fcreklili\u011fini tehdit edebilir. Ayr\u0131ca, bu denli yal\u0131n bir yap\u0131, denetim ve kontrol mekanizmalar\u0131nda zafiyetler yaratma potansiyeli ta\u015f\u0131r.<\/p>\n<p>Ye\u015fil Yap\u0131&#8217;n\u0131n finansal raporu, bize rakamlar\u0131n arkas\u0131ndaki stratejiyi okuman\u0131n ne kadar \u00f6nemli oldu\u011funu bir kez daha g\u00f6steriyor. Kar\u015f\u0131m\u0131zda, art\u0131k geleneksel bir in\u015faat \u015firketi olmaktan \u00e7\u0131k\u0131p;<\/p>\n<ul>\n<li>Ana faaliyet alan\u0131 d\u0131\u015f\u0131ndaki stratejik <b>enerji yat\u0131r\u0131mlar\u0131yla<\/b> k\u00e2r\u0131n\u0131 katlayan,<\/li>\n<li>Gelece\u011fin b\u00fcy\u00fck projeleri i\u00e7in <b>cesur sermaye ad\u0131mlar\u0131<\/b> atan,<\/li>\n<li>Ve t\u00fcm bunlar\u0131 sadece 11 ki\u015filik <b>son derece yal\u0131n bir organizasyonla<\/b> y\u00f6neten, d\u00f6n\u00fc\u015f\u00fcm halindeki bir \u015firket profili var.<\/li>\n<\/ul>\n<p>Peki, bir \u015firketin ana faaliyet alan\u0131 d\u0131\u015f\u0131ndaki yat\u0131r\u0131mlar\u0131, operasyonel performans\u0131n\u0131 geride b\u0131rakt\u0131\u011f\u0131nda, bu durum gelece\u011fin i\u015f modeli i\u00e7in bir i\u015faret olabilir mi?<\/p>\n<p>&nbsp;<\/p>\n<h1><span style=\"color: #0000ff;\">Ye\u015fil Yap\u0131 End\u00fcstrisi A.\u015e. &#8211; 2025 \u00dc\u00e7\u00fcnc\u00fc \u00c7eyrek Durum Raporu<\/span><\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu brifing belgesi, Ye\u015fil Yap\u0131 End\u00fcstrisi A.\u015e.&#8217;nin 30 Eyl\u00fcl 2025 itibar\u0131yla sona eren dokuz ayl\u0131k d\u00f6neme ili\u015fkin faaliyet raporu ve konsolide finansal tablolar\u0131n\u0131 sentezleyerek \u015firketin finansal performans\u0131, stratejik giri\u015fimleri ve kar\u015f\u0131la\u015ft\u0131\u011f\u0131 temel riskler hakk\u0131nda kapsaml\u0131 bir analiz sunmaktad\u0131r.<\/p>\n<p>D\u00f6nemin \u00f6ne \u00e7\u0131kan finansal sonucu, cirodaki d\u00fc\u015f\u00fc\u015fe ve operasyonel zarara ra\u011fmen, \u00f6zkaynak y\u00f6ntemiyle de\u011ferlenen i\u015ftiraklerden elde edilen gelir sayesinde ana ortakl\u0131k net d\u00f6nem k\u00e2r\u0131n\u0131n ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re %34,7 artarak 333,5 milyon TL&#8217;ye ula\u015fmas\u0131d\u0131r. \u015eirketin stratejik oda\u011f\u0131nda iki ana geli\u015fme bulunmaktad\u0131r: Birincisi, \u00e7\u0131kar\u0131lm\u0131\u015f sermayesini %100 oran\u0131nda art\u0131rarak 865,8 milyon TL fon sa\u011flad\u0131\u011f\u0131 ba\u015far\u0131l\u0131 bedelli sermaye art\u0131r\u0131m\u0131d\u0131r. Bu fonun 750 milyon TL&#8217;lik \u00f6nemli bir k\u0131sm\u0131, \u0130stanbul Levent&#8217;teki &#8220;\u0130stanbul Tower-205&#8221; projesinin tamamlanmas\u0131na tahsis edilmi\u015ftir. \u0130kincisi ise, \u015firketin %29,90 oran\u0131nda i\u015ftiraki olan Ye\u015fil Global Enerji A.\u015e.&#8217;nin halka arz s\u00fcrecinin devam etmesidir; bu s\u00fcre\u00e7te Borsa \u0130stanbul ve Sermaye Piyasas\u0131 Kurulu&#8217;na gerekli ba\u015fvurular yap\u0131lm\u0131\u015ft\u0131r.<\/p>\n<p>Bununla birlikte, \u015firket \u00f6nemli risklerle kar\u015f\u0131 kar\u015f\u0131yad\u0131r. \u00d6zellikle, grup \u015firketlerinin bor\u00e7lar\u0131 nedeniyle \u015firket aktifleri \u00fczerinde toplamda 1,847 milyar TL&#8217;yi a\u015fan haciz bulunmaktad\u0131r. Yo\u011fun ili\u015fkili taraf i\u015flemleri ve bu kapsamda proje i\u00e7in yap\u0131lan b\u00fcy\u00fck tutarl\u0131 avans \u00f6demesi de dikkat \u00e7eken di\u011fer bir husustur.<\/p>\n<h2>1. Kurumsal Profil ve Y\u00f6netim Yap\u0131s\u0131<\/h2>\n<p>Ye\u015fil Yap\u0131 End\u00fcstrisi A.\u015e., 1979 y\u0131l\u0131nda in\u015faat sekt\u00f6r\u00fcnde faaliyet g\u00f6stermek \u00fczere kurulmu\u015f ve hisseleri 1993&#8217;ten beri Borsa \u0130stanbul&#8217;da (B\u0130ST) i\u015flem g\u00f6ren bir \u015firkettir.<\/p>\n<h3>\u015eirket K\u00fcnyesi<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kriter<\/td>\n<td>Bilgi<\/td>\n<\/tr>\n<tr>\n<td><b>Ticaret Unvan\u0131<\/b><\/td>\n<td>Ye\u015fil Yap\u0131 End\u00fcstrisi A.\u015e.<\/td>\n<\/tr>\n<tr>\n<td><b>Kurulu\u015f Tarihi<\/b><\/td>\n<td>04.10.1979<\/td>\n<\/tr>\n<tr>\n<td><b>B\u0130ST \u0130\u015flem Kodu<\/b><\/td>\n<td>YYAPI<\/td>\n<\/tr>\n<tr>\n<td><b>B\u0130ST Pazar<\/b><\/td>\n<td>Ana Pazar<\/td>\n<\/tr>\n<tr>\n<td><b>Kay\u0131tl\u0131 Sermaye Tavan\u0131<\/b><\/td>\n<td>9.000.000.000 TL<\/td>\n<\/tr>\n<tr>\n<td><b>\u00c7\u0131kar\u0131lm\u0131\u015f Sermaye<\/b><\/td>\n<td>1.705.025.558,40 TL<\/td>\n<\/tr>\n<tr>\n<td><b>Merkez Adresi<\/b><\/td>\n<td>Y\u0131lanl\u0131 Ayazma Yolu, No:15, Ye\u015fil Plaza Kat:12, Topkap\u0131 \/\u0130stanbul<\/td>\n<\/tr>\n<tr>\n<td><b>\u0130nternet Adresi<\/b><\/td>\n<td>www.yyapi.com.tr<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>Sermaye ve Ortakl\u0131k Yap\u0131s\u0131<\/h3>\n<p>30 Eyl\u00fcl 2025 tarihi itibar\u0131yla \u015firketin ortakl\u0131k yap\u0131s\u0131 ve sermaye detaylar\u0131 a\u015fa\u011f\u0131daki gibidir. \u015eirketin imtiyazl\u0131 pay\u0131 bulunmamaktad\u0131r.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Pay Sahibi<\/td>\n<td>Pay Tutar\u0131 (TL)<\/td>\n<td>Sermayedeki Oran\u0131 (%)<\/td>\n<\/tr>\n<tr>\n<td>Kamil Engin Ye\u015fil<\/td>\n<td>283.774.139,55<\/td>\n<td>%16,64<\/td>\n<\/tr>\n<tr>\n<td>Di\u011fer (Halka Arz)<\/td>\n<td>1.421.251.418,85<\/td>\n<td>%83,36<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam<\/b><\/td>\n<td><b>1.705.025.558,40<\/b><\/td>\n<td><b>%100,00<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Merkezi Kay\u0131t Kurulu\u015fu raporuna g\u00f6re, 30 Eyl\u00fcl 2025 itibar\u0131yla \u015firketin fiili dola\u015f\u0131mdaki paylar\u0131n\u0131n nominal tutar\u0131 1.421.251.418,85 TL olup, bu oran \u015firket sermayesinin %75,44&#8217;\u00fcne tekab\u00fcl etmektedir.<\/p>\n<h3>Y\u00f6netim Kurulu ve Komiteler<\/h3>\n<p>\u015eirket y\u00f6netim kurulu, ikisi ba\u011f\u0131ms\u0131z olmak \u00fczere toplam be\u015f \u00fcyeden olu\u015fmaktad\u0131r. 31 May\u0131s 2024 tarihli Ola\u011fan Genel Kurul karar\u0131yla se\u00e7ilen \u00fcyelerin g\u00f6rev s\u00fcresi 31 May\u0131s 2027&#8217;de sona erecektir. Raporlama d\u00f6neminde Y\u00f6netim Kurulu 27 defa toplanm\u0131\u015ft\u0131r.<\/p>\n<p><b>Y\u00f6netim Kurulu \u00dcyeleri:<\/b><\/p>\n<ul>\n<li><b>Ba\u015fkan:<\/b> Alaittin SILAYDIN<\/li>\n<li><b>\u00dcye:<\/b> \u00d6m\u00fcrcan AV\u015eAR<\/li>\n<li><b>\u00dcye:<\/b> H\u00fclya AKYOL<\/li>\n<li><b>Ba\u011f\u0131ms\u0131z \u00dcye:<\/b> Ufuk OLTULU<\/li>\n<li><b>Ba\u011f\u0131ms\u0131z \u00dcye:<\/b> Erman KEND\u0130BA\u015eINA<\/li>\n<\/ul>\n<p>Y\u00f6netim Kurulu&#8217;na ba\u011fl\u0131 olarak Sermaye Piyasas\u0131 Kurulu (SPK) Kurumsal Y\u00f6netim \u0130lkeleri do\u011frultusunda \u00fc\u00e7 komite faaliyet g\u00f6stermektedir:<\/p>\n<ul>\n<li><b>Denetimden Sorumlu Komite:<\/b> Ba\u015fkanl\u0131\u011f\u0131n\u0131 ba\u011f\u0131ms\u0131z \u00fcye Ufuk OLTULU y\u00fcr\u00fctmektedir. Her t\u00fcrl\u00fc i\u00e7 ve ba\u011f\u0131ms\u0131z denetimin \u015feffaf bir \u015fekilde yap\u0131lmas\u0131 i\u00e7in gerekli tedbirleri almaktan sorumludur.<\/li>\n<li><b>Kurumsal Y\u00f6netim Komitesi:<\/b> Ba\u015fkanl\u0131\u011f\u0131n\u0131 ba\u011f\u0131ms\u0131z \u00fcye Erman KEND\u0130BA\u015eINA y\u00fcr\u00fctmektedir. Bu komite ayn\u0131 zamanda Aday G\u00f6sterme Komitesi ve \u00dccret Komitesi&#8217;nin g\u00f6revlerini de yerine getirmektedir.<\/li>\n<li><b>Riskin Erken Saptanmas\u0131 Komitesi:<\/b> Ba\u015fkanl\u0131\u011f\u0131n\u0131 ba\u011f\u0131ms\u0131z \u00fcye Ufuk OLTULU y\u00fcr\u00fctmektedir. \u015eirketin varl\u0131\u011f\u0131n\u0131 tehlikeye atabilecek risklerin erken te\u015fhisi ve y\u00f6netimiyle ilgili \u00e7al\u0131\u015fmalar yapar.<\/li>\n<\/ul>\n<h2>2. 2025 Y\u0131l\u0131 \u00dc\u00e7\u00fcnc\u00fc \u00c7eyrek Finansal Performans\u0131<\/h2>\n<p>\u015eirketin 1 Ocak &#8211; 30 Eyl\u00fcl 2025 d\u00f6nemine ait finansal performans\u0131, operasyonel faaliyetlerdeki zay\u0131fl\u0131\u011fa kar\u015f\u0131n i\u015ftirak gelirlerinin katk\u0131s\u0131yla k\u00e2rl\u0131l\u0131kta art\u0131\u015f g\u00f6stermi\u015ftir.<\/p>\n<h3>\u00d6zet Finansal Tablolar<\/h3>\n<p>A\u015fa\u011f\u0131daki tablolar, \u015firketin 2025 ve 2024 y\u0131llar\u0131n\u0131n ilk dokuz ayl\u0131k d\u00f6nemlerine ait \u00f6zet konsolide finansal verilerini kar\u015f\u0131la\u015ft\u0131rmal\u0131 olarak sunmaktad\u0131r.<\/p>\n<p><b>\u00d6zet Konsolide Finansal Durum Tablosu (TL)<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem<\/td>\n<td>30.09.2025<\/td>\n<td>30.09.2024<\/td>\n<\/tr>\n<tr>\n<td>D\u00f6nen Varl\u0131klar<\/td>\n<td>1.329.466.123<\/td>\n<td>494.187.011<\/td>\n<\/tr>\n<tr>\n<td>Duran Varl\u0131klar<\/td>\n<td>4.165.558.693<\/td>\n<td>3.852.068.334<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Varl\u0131klar<\/b><\/td>\n<td><b>5.495.024.816<\/b><\/td>\n<td><b>4.346.255.345<\/b><\/td>\n<\/tr>\n<tr>\n<td>K\u0131sa Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler<\/td>\n<td>265.357.035<\/td>\n<td>314.664.339<\/td>\n<\/tr>\n<tr>\n<td>Uzun Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler<\/td>\n<td>5.275.616<\/td>\n<td>6.378.624<\/td>\n<\/tr>\n<tr>\n<td><b>\u00d6z Kaynaklar<\/b><\/td>\n<td><b>5.224.392.165<\/b><\/td>\n<td><b>4.025.212.382<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>\u00d6zet Konsolide Gelir Tablosu (TL)<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem<\/td>\n<td>01.01-30.09.2025<\/td>\n<td>01.01-30.09.2024<\/td>\n<\/tr>\n<tr>\n<td>Has\u0131lat (Net Sat\u0131\u015flar)<\/td>\n<td>6.457.271<\/td>\n<td>36.559.012<\/td>\n<\/tr>\n<tr>\n<td>Br\u00fct K\u00e2r \/ (Zarar)<\/td>\n<td>(12.621.369)<\/td>\n<td>(32.151.634)<\/td>\n<\/tr>\n<tr>\n<td>Esas Faaliyet K\u00e2r\u0131 \/ (Zarar\u0131)<\/td>\n<td>(51.168.505)<\/td>\n<td>(40.242.352)<\/td>\n<\/tr>\n<tr>\n<td><b>Net D\u00f6nem K\u00e2r\u0131 (Ana Ortakl\u0131k)<\/b><\/td>\n<td><b>333.525.034<\/b><\/td>\n<td><b>247.574.020<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>Performans Analizi<\/h3>\n<ul>\n<li><b>Gelir ve K\u00e2rl\u0131l\u0131k:<\/b> \u015eirketin has\u0131lat\u0131, ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine k\u0131yasla \u00f6nemli \u00f6l\u00e7\u00fcde azalarak 36,6 milyon TL&#8217;den 6,5 milyon TL&#8217;ye gerilemi\u015ftir. Sat\u0131\u015flar\u0131n maliyetinin has\u0131lat\u0131 a\u015fmas\u0131 nedeniyle br\u00fct zarar olu\u015fmu\u015f, esas faaliyet zarar\u0131 ise 51,2 milyon TL olarak ger\u00e7ekle\u015fmi\u015ftir. Ancak, &#8220;\u00d6zkaynak Y\u00f6ntemiyle De\u011ferlenen Yat\u0131r\u0131mlar\u0131n K\u00e2rlar\u0131ndan Paylar&#8221; kaleminde kaydedilen 460,5 milyon TL&#8217;lik gelir, \u015firketin net d\u00f6nem k\u00e2r\u0131n\u0131 333,5 milyon TL&#8217;ye ta\u015f\u0131m\u0131\u015ft\u0131r. Bu gelir, b\u00fcy\u00fck \u00f6l\u00e7\u00fcde Ye\u015fil Global Enerji i\u015ftirakinin performans\u0131ndan kaynaklanmaktad\u0131r.<\/li>\n<li><b>Bilan\u00e7o Yap\u0131s\u0131:<\/b> Toplam varl\u0131klar, bir \u00f6nceki y\u0131l sonuna g\u00f6re %26,4 artarak 5,5 milyar TL&#8217;ye ula\u015fm\u0131\u015ft\u0131r. Bu art\u0131\u015fta, tamamlanan sermaye art\u0131r\u0131m\u0131 ve \u00f6zkaynak y\u00f6ntemiyle de\u011ferlenen yat\u0131r\u0131mlardaki art\u0131\u015f etkili olmu\u015ftur. D\u00f6nen varl\u0131klar i\u00e7indeki &#8220;Pe\u015fin \u00d6denmi\u015f Giderler&#8221; kaleminde, ili\u015fkili bir tarafa verilen sipari\u015f avanslar\u0131 nedeniyle 88,4 milyon TL&#8217;den 964 milyon TL&#8217;ye ola\u011fan\u00fcst\u00fc bir art\u0131\u015f g\u00f6zlenmi\u015ftir. \u00d6zkaynaklar ise sermaye art\u0131\u015f\u0131n\u0131n ve d\u00f6nem k\u00e2r\u0131n\u0131n etkisiyle 4 milyar TL&#8217;den 5,2 milyar TL&#8217;ye y\u00fckselmi\u015ftir.<\/li>\n<li><b>Nakit Ak\u0131\u015f\u0131:<\/b> \u0130\u015fletme faaliyetlerinden kaynaklanan nakit ak\u0131\u015f\u0131 835,8 milyon TL negatiftir. Bu durum, operasyonel k\u00e2rl\u0131l\u0131\u011f\u0131n d\u00fc\u015f\u00fck olmas\u0131 ve i\u015fletme sermayesindeki, \u00f6zellikle pe\u015fin \u00f6denmi\u015f giderlerdeki art\u0131\u015ftan kaynaklanmaktad\u0131r. Finansman faaliyetlerinden ise bedelli sermaye art\u0131r\u0131m\u0131 sayesinde 845,5 milyon TL&#8217;lik pozitif nakit giri\u015fi sa\u011flanm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<h2>3. Stratejik Geli\u015fmeler ve Faaliyetler<\/h2>\n<p>D\u00f6nem i\u00e7erisinde \u015firket, sermaye yap\u0131s\u0131n\u0131 g\u00fc\u00e7lendirmeye ve \u00f6nemli projelerini ilerletmeye odaklanm\u0131\u015ft\u0131r.<\/p>\n<h3>Sermaye Art\u0131r\u0131m\u0131 ve Fon Kullan\u0131m\u0131<\/h3>\n<ul>\n<li><b>S\u00fcre\u00e7:<\/b> Y\u00f6netim Kurulu, ba\u015flang\u0131\u00e7ta %200 oran\u0131nda planlad\u0131\u011f\u0131 bedelli sermaye art\u0131r\u0131m\u0131 karar\u0131n\u0131 revize ederek %100 oran\u0131nda ger\u00e7ekle\u015ftirmi\u015ftir. SPK taraf\u0131ndan 28 A\u011fustos 2025&#8217;te onaylanan s\u00fcre\u00e7, Eyl\u00fcl 2025&#8217;te tamamlanm\u0131\u015ft\u0131r.<\/li>\n<li><b>Sonu\u00e7:<\/b> \u015eirketin 852.512.779,20 TL olan \u00e7\u0131kar\u0131lm\u0131\u015f sermayesi, tamam\u0131 nakden kar\u015f\u0131lanmak suretiyle 1.705.025.558,40 TL&#8217;ye y\u00fckseltilmi\u015ftir. Bu i\u015flem sonucunda \u015firkete toplam 865.768.560,40 TL nakit giri\u015fi sa\u011flanm\u0131\u015ft\u0131r.<\/li>\n<li><b>Fon Kullan\u0131m\u0131:<\/b> Elde edilen fonun 750 milyon TL&#8217;lik k\u0131sm\u0131, \u0130stanbul Levent&#8217;te yer alan &#8220;\u0130stanbul Tower-205&#8221; projesinin tamamlanmas\u0131nda kullan\u0131lacakt\u0131r. Projenin m\u00fc\u015favirlik hizmetleri FSRA Teknik Yap\u0131 \u0130n\u015faat Limited \u015eirketi taraf\u0131ndan y\u00fcr\u00fct\u00fclecek ve \u00f6demeler Denizbank nezdinde a\u00e7\u0131lan \u00f6zel bir hesap \u00fczerinden yap\u0131lacakt\u0131r. Finansal tablolarda, bu projeyle ili\u015fkili olarak ili\u015fkili taraf olan Ye\u015fil D\u00f6n\u00fc\u015f\u00fcm \u0130n\u015faat A.\u015e.&#8217;ye yakla\u015f\u0131k 865 milyon TL tutar\u0131nda avans verildi\u011fi g\u00f6r\u00fclmektedir.<\/li>\n<\/ul>\n<h3>Ye\u015fil Global Enerji A.\u015e. \u0130\u015ftiraki ve Halka Arz S\u00fcreci<\/h3>\n<ul>\n<li><b>\u0130\u015ftirak Detaylar\u0131:<\/b> Ye\u015fil Yap\u0131&#8217;n\u0131n %29,90 oran\u0131nda pay sahibi oldu\u011fu Ye\u015fil Global Enerji A.\u015e., metan gaz\u0131ndan elektrik enerjisi \u00fcretimi konusunda faaliyet g\u00f6stermektedir. \u015eirketin \u0130stanbul Kemerburgaz (Odayeri) ve \u015eile&#8217;de (K\u00f6m\u00fcrc\u00fcoda) bulunan iki adet enerji santrali, toplam 43.377 MW kurulu g\u00fcce sahiptir ve 2009 y\u0131l\u0131ndan beri \u00fcretim yapmaktad\u0131r.<\/li>\n<li><b>Halka Arz:<\/b> \u015eirket, i\u015ftirakinin halka arz\u0131 i\u00e7in Mart 2023&#8217;te \u00e7al\u0131\u015fmalara ba\u015flam\u0131\u015ft\u0131r. \u0130lgili d\u00f6nemde halka arz ba\u015fvuru belgeleri Borsa \u0130stanbul ve SPK&#8217;ya sunulmu\u015f olup, s\u00fcre\u00e7 devam etmektedir. Bu giri\u015fim, \u015firketin yat\u0131r\u0131m\u0131n\u0131n de\u011ferini realize etmesi a\u00e7\u0131s\u0131ndan \u00f6nemli bir stratejik ad\u0131md\u0131r.<\/li>\n<\/ul>\n<h3>Di\u011fer Ba\u011fl\u0131 Ortakl\u0131klar<\/h3>\n<p>\u015eirketin konsolidasyon kapsam\u0131nda %50 oran\u0131nda pay sahibi oldu\u011fu Haytek \u0130n\u015faat Taahh\u00fct Anonim \u015eirketi, in\u015faat, onar\u0131m, montaj ve m\u00fchendislik hizmetleri alan\u0131nda faaliyet g\u00f6stermektedir.<\/p>\n<h2>4. Risk De\u011ferlendirmesi<\/h2>\n<p>\u015eirket faaliyetleri, finansal ve operasyonel riskler bar\u0131nd\u0131rmakta olup, bu riskler ilgili komiteler taraf\u0131ndan takip edilmektedir.<\/p>\n<ul>\n<li><b>Finansal Riskler:<\/b> \u015eirket, faaliyetleri nedeniyle d\u00f6viz kuru ve faiz oranlar\u0131ndaki de\u011fi\u015fikliklere maruz kalmaktad\u0131r.<\/li>\n<li><b>\u0130\u00e7 Kontrol ve Risk Y\u00f6netimi:<\/b> Denetimden Sorumlu Komite ve Riskin Erken Saptanmas\u0131 Komitesi, i\u00e7 kontrol mekanizmalar\u0131n\u0131 i\u015fletmekte, riskleri tespit ederek Y\u00f6netim Kurulu&#8217;na \u00f6neriler sunmaktad\u0131r.<\/li>\n<li><b>\u00d6nemli Y\u00fck\u00fcml\u00fcl\u00fckler ve Hacizler:<\/b> Finansal tablo dipnotlar\u0131na g\u00f6re, 30 Eyl\u00fcl 2025 tarihi itibar\u0131yla \u015firketin varl\u0131klar\u0131 \u00fczerinde toplam <b>1.847.229.869 TL<\/b> tutar\u0131nda haciz bulunmaktad\u0131r. Bu hacizlerin \u00f6nemli bir k\u0131sm\u0131, \u015firketin kendi bor\u00e7lar\u0131ndan ziyade, ili\u015fkili taraf olan Ye\u015fil GYO, Ye\u015fil Global \u0130n\u015faat ve Zincir Yap\u0131 A.\u015e. gibi grup \u015firketlerinin bor\u00e7lar\u0131ndan kaynaklanmaktad\u0131r. Bu durum, \u015firket varl\u0131klar\u0131 \u00fczerinde ciddi bir k\u0131s\u0131t ve risk unsuru olu\u015fturmaktad\u0131r.<\/li>\n<li><b>\u0130li\u015fkili Taraf \u0130\u015flemleri:<\/b> \u015eirketin ili\u015fkili taraflarla yo\u011fun ticari ve finansal ili\u015fkileri bulunmaktad\u0131r. \u00d6zellikle &#8220;\u0130stanbul Tower-205&#8221; projesi i\u00e7in ili\u015fkili bir \u015firkete yap\u0131lan yakla\u015f\u0131k 865 milyon TL&#8217;lik avans \u00f6demesi, ili\u015fkili taraf i\u015flemlerinin b\u00fcy\u00fckl\u00fc\u011f\u00fcn\u00fc ve \u00f6nemini g\u00f6stermektedir. Bu t\u00fcr i\u015flemler, potansiyel \u00e7\u0131kar \u00e7at\u0131\u015fmalar\u0131 ve y\u00f6neti\u015fim a\u00e7\u0131s\u0131ndan dikkatle izlenmesi gereken bir aland\u0131r.<\/li>\n<li><b>Ara\u015ft\u0131rma ve Geli\u015ftirme:<\/b> \u0130lgili d\u00f6nemde \u015firketin herhangi bir ara\u015ft\u0131rma ve geli\u015ftirme faaliyeti olmam\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<button class=\"simplefavorite-button\" data-postid=\"676\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>Bu belgeler, in\u015faat sekt\u00f6r\u00fcnde faaliyet g\u00f6steren **Ye\u015fil Yap\u0131 End\u00fcstrisi A.\u015e.** \u015firketinin 1 Ocak ile 30 Eyl\u00fcl **2025** tarihlerini kapsayan dokuz ayl\u0131k finansal ve operasyonel verilerini detayland\u0131rmaktad\u0131r. Kaynaklar aras\u0131nda yer alan **Y\u00f6netim Kurulu Faaliyet Raporu**, kurumun ortakl\u0131k yap\u0131s\u0131n\u0131, y\u00f6netim s\u00fcre\u00e7lerini, risk de\u011ferlendirmelerini ve **\u0130stanbul Tower-205** projesine y\u00f6nelik stratejik ad\u0131mlar\u0131n\u0131 a\u00e7\u0131klamaktad\u0131r. **\u00d6zet Konsolide Finansal Tablolar** ise y\u00fcksek enflasyon d\u00fczeltmelerini i\u00e7eren bilan\u00e7o, k\u00e2r-zarar durumu ve nakit ak\u0131\u015f bilgilerini sunarak i\u015fletmenin mali performans\u0131n\u0131 ortaya koymaktad\u0131r. \u00d6zellikle d\u00f6nemsel olarak ger\u00e7ekle\u015ftirilen **bedelli sermaye art\u0131r\u0131m\u0131** s\u00fcreci ve bu s\u00fcre\u00e7ten elde edilen fonlar\u0131n kullan\u0131m planlar\u0131 metinlerde geni\u015f yer tutmaktad\u0131r. Sonu\u00e7 olarak bu kaynaklar, yat\u0131r\u0131mc\u0131lar ve payda\u015flar i\u00e7in \u015firketin **finansal sa\u011fl\u0131\u011f\u0131** ile gelecek d\u00f6nem hedeflerini \u00f6zetleyen kapsaml\u0131 bir denetim ve bilgilendirme seti sunmaktad\u0131r.<\/p>\n","protected":false},"author":1,"featured_media":779,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[160],"class_list":["post-676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-yyapi"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/676","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=676"}],"version-history":[{"count":2,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/676\/revisions"}],"predecessor-version":[{"id":780,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/676\/revisions\/780"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media\/779"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media?parent=676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}