{"id":704,"date":"2025-12-28T14:52:44","date_gmt":"2025-12-28T11:52:44","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=704"},"modified":"2025-12-28T20:22:09","modified_gmt":"2025-12-28T17:22:09","slug":"%f0%9f%94%b4%f0%9f%87%b9%f0%9f%87%b7-avhol-avrupa-yatirim-holding-2025-9-bilanco-analizi","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/704","title":{"rendered":"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #AVHOL | Avrupa Yat\u0131r\u0131m Holding 2025\/9 Bilan\u00e7o Analizi"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #AVHOL | Avrupa Yat\u0131r\u0131m Holding 2025\/9 Bilan\u00e7o Analizi\" width=\"858\" height=\"483\" src=\"https:\/\/www.youtube.com\/embed\/S_HPDPmPKSA?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h1>Bir Holding Raporunun Perde Arkas\u0131: T\u00fcrkiye&#8217;nin Ekonomisi ve Toplumu Hakk\u0131nda 4 \u015ea\u015f\u0131rt\u0131c\u0131 Ger\u00e7ek<\/h1>\n<h3><b>Giri\u015f: Rakamlar\u0131n Ard\u0131ndaki Hikayeler<\/b><\/h3>\n<p>Merhaba! Kurumsal faaliyet raporlar\u0131 denince akl\u0131n\u0131za ne geliyor? Muhtemelen sayfalar dolusu rakamlar, karma\u015f\u0131k tablolar ve genellikle pek de heyecan verici olmayan finansal analizler&#8230; \u00c7o\u011fumuz i\u00e7in bu belgeler, okunmadan rafa kald\u0131r\u0131lan s\u0131k\u0131c\u0131 evrak y\u0131\u011f\u0131n\u0131ndan ibarettir. Ancak bazen, bu rakamlar\u0131n aras\u0131na gizlenmi\u015f \u00f6yle \u015fa\u015f\u0131rt\u0131c\u0131 bilgiler bulunur ki, bir \u00fclkenin ekonomik ve toplumsal dinamikleri hakk\u0131nda bildi\u011fimizi sand\u0131\u011f\u0131m\u0131z her \u015feyi sorgulat\u0131r.<\/p>\n<p>\u0130\u015fte bu yaz\u0131da, tam da bunu yapaca\u011f\u0131z. Avrupa Yat\u0131r\u0131m Holding&#8217;in (AVHOL) 2025&#8217;in ilk dokuz ay\u0131n\u0131 kapsayan faaliyet raporunun derinliklerine dalarak, T\u00fcrkiye&#8217;ye dair ezber bozan, pek bilinmeyen ve \u00fczerinde d\u00fc\u015f\u00fcnmeye de\u011fer d\u00f6rt \u00f6nemli ger\u00e7e\u011fi g\u00fcn y\u00fcz\u00fcne \u00e7\u0131karaca\u011f\u0131z. Haz\u0131rsan\u0131z, rakamlar\u0131n ard\u0131ndaki hikayeleri ke\u015ffetmeye ba\u015flayal\u0131m.<\/p>\n<h3><b>\u0130stanbul&#8217;un Sa\u011fl\u0131k Paradoksu: Megakent Ortalaman\u0131n Gerisinde<\/b><\/h3>\n<p>T\u00fcrkiye&#8217;nin en b\u00fcy\u00fck, en kalabal\u0131k ve ekonomik olarak en g\u00fc\u00e7l\u00fc \u015fehri \u0130stanbul&#8217;un, her alanda \u00fclkenin geri kalan\u0131na liderlik etti\u011fi d\u00fc\u015f\u00fcn\u00fcl\u00fcr. Ancak AVHOL raporundaki sa\u011fl\u0131k verileri, bu genel kan\u0131y\u0131 sarsacak nitelikte bir paradoksu ortaya koyuyor: \u0130stanbul, baz\u0131 kritik sa\u011fl\u0131k altyap\u0131s\u0131 g\u00f6stergelerinde T\u00fcrkiye ortalamas\u0131n\u0131n gerisinde kal\u0131yor.<\/p>\n<ul>\n<li>Rapora g\u00f6re, \u0130stanbul&#8217;da 10.000 ki\u015fiye d\u00fc\u015fen hastane yatak say\u0131s\u0131 <b>29,9<\/b> iken, T\u00fcrkiye ortalamas\u0131 <b>31,2<\/b>.<\/li>\n<li>Daha da \u00e7arp\u0131c\u0131 olan\u0131 ise &#8220;nitelikli yatak&#8221; oran\u0131nda. T\u00fcrkiye genelinde hastanelerdeki yataklar\u0131n %82,5&#8217;i nitelikli (tek veya iki ki\u015filik, tuvaletli, banyolu odalar) iken, bu oran \u0130stanbul&#8217;da sadece <b>%76<\/b>.<\/li>\n<\/ul>\n<p>Bu veriler, \u0130stanbul&#8217;un devasa n\u00fcfusuna k\u0131yasla sa\u011fl\u0131k altyap\u0131s\u0131 yat\u0131r\u0131mlar\u0131n\u0131n orant\u0131sal olarak yetersiz kalm\u0131\u015f olabilece\u011fine i\u015faret ediyor. Ayn\u0131 zamanda, Anadolu&#8217;nun farkl\u0131 b\u00f6lgelerinde yap\u0131lan yeni \u015fehir hastaneleri gibi b\u00fcy\u00fck yat\u0131r\u0131mlar\u0131n T\u00fcrkiye ortalamas\u0131n\u0131 yukar\u0131 \u00e7ekerek \u0130stanbul&#8217;u g\u00f6receli olarak geride b\u0131rakm\u0131\u015f olabilece\u011fini de d\u00fc\u015f\u00fcnd\u00fcr\u00fcyor. Bu durum, \u00fclkenin ekonomik motorunun bile kar\u015f\u0131la\u015ft\u0131\u011f\u0131 bir &#8220;\u00f6l\u00e7ek zorlu\u011funu&#8221; g\u00f6zler \u00f6n\u00fcne seriyor.<\/p>\n<h3><b>Geri D\u00f6n\u00fc\u015f\u00fcmde S\u0131n\u0131fta Kald\u0131k: T\u00fcrkiye ve Avrupa Aras\u0131ndaki Derin U\u00e7urum<\/b><\/h3>\n<p>\u00c7evre bilinci ve s\u00fcrd\u00fcr\u00fclebilirlik konular\u0131n\u0131n giderek daha fazla \u00f6nem kazand\u0131\u011f\u0131 bir d\u00fcnyada, T\u00fcrkiye&#8217;nin geri d\u00f6n\u00fc\u015f\u00fcm karnesi maalesef pek de parlak de\u011fil. Rapor, bu alanda Avrupa&#8217;n\u0131n lider \u00fclkeleri ile aram\u0131zdaki derin u\u00e7urumu net bir \u015fekilde g\u00f6zler \u00f6n\u00fcne seriyor.<\/p>\n<ul>\n<li>Avrupa&#8217;n\u0131n \u00f6nc\u00fc \u00fclkelerinden <b>Almanya<\/b>, \u00fcretti\u011fi t\u00fcm at\u0131klar\u0131n <b>%65<\/b>&#8216;ini geri d\u00f6n\u00fc\u015ft\u00fcr\u00fcyor. Bu oran <b>Avusturya<\/b>&#8216;da <b>%63<\/b>.<\/li>\n<li>Peki ya T\u00fcrkiye? \u00dclkemizde \u00fcretilen y\u0131ll\u0131k yakla\u015f\u0131k 23 milyon ton at\u0131\u011f\u0131n sadece ve sadece <b>%7<\/b>&#8216;si geri d\u00f6n\u00fc\u015ft\u00fcr\u00fcl\u00fcyor.<\/li>\n<\/ul>\n<p>Bu devasa fark, sadece bir istatistikten ibaret de\u011fil. Bu, ayn\u0131 zamanda do\u011fal kaynaklar\u0131m\u0131z\u0131n korunmas\u0131, enerji tasarrufu ve \u00fclke ekonomisi i\u00e7in ka\u00e7\u0131r\u0131lm\u0131\u015f muazzam bir f\u0131rsat anlam\u0131na geliyor. Rapor, at\u0131klar\u0131n b\u00fcy\u00fck bir b\u00f6l\u00fcm\u00fcn\u00fcn geri d\u00f6n\u00fc\u015ft\u00fcr\u00fclmek yerine depolama sahalar\u0131na g\u00f6m\u00fclmesinin alt\u0131nda yatan nedenler olarak &#8220;yeterli \u00e7evre bilincinin olmay\u0131\u015f\u0131n\u0131&#8221; ve &#8220;\u00e7evre politikalar\u0131n\u0131n yetersizli\u011fini&#8221; g\u00f6steriyor.<\/p>\n<h3><b>Enerjide Ezber Bozan Tablo: Devletin Rol\u00fc Azal\u0131rken \u015ea\u015f\u0131rt\u0131c\u0131 Ticaret Ortaklar\u0131 Ortaya \u00c7\u0131k\u0131yor<\/b><\/h3>\n<p>T\u00fcrkiye&#8217;nin enerji sekt\u00f6r\u00fc, son on y\u0131lda sessiz ama k\u00f6kl\u00fc bir d\u00f6n\u00fc\u015f\u00fcm ge\u00e7irdi. Devletin \u00fcretimdeki bask\u0131n rol\u00fc azal\u0131rken, \u00f6zel sekt\u00f6r\u00fcn a\u011f\u0131rl\u0131\u011f\u0131 artt\u0131. Rapor, bu d\u00f6n\u00fc\u015f\u00fcm\u00fc net rakamlarla ortaya koyarken, d\u0131\u015f ticaretteki ortaklar\u0131m\u0131z konusunda ise olduk\u00e7a \u015fa\u015f\u0131rt\u0131c\u0131 bir tablo \u00e7iziyor.<\/p>\n<ul>\n<li>Devlete ait Elektrik \u00dcretim Anonim \u015eirketi&#8217;nin (E\u00dcA\u015e) kurulu g\u00fc\u00e7teki pay\u0131 2010 y\u0131l\u0131nda <b>%48,9<\/b> iken, bu oran 2024 itibar\u0131yla <b>%19,5<\/b>&#8216;e kadar gerilemi\u015f durumda. Bu, \u00f6zel sekt\u00f6r ve lisanss\u0131z santrallerin sekt\u00f6rde ne kadar h\u0131zl\u0131 b\u00fcy\u00fcd\u00fc\u011f\u00fcn\u00fcn en somut kan\u0131t\u0131.<\/li>\n<li>Gelelim en \u015fa\u015f\u0131rt\u0131c\u0131 k\u0131sma: 2024&#8217;\u00fcn ilk yar\u0131s\u0131nda T\u00fcrkiye&#8217;nin en \u00e7ok elektrik <i>ithal etti\u011fi<\/i> \u00fclke, toplam ithalat\u0131n <b>%68<\/b>&#8216;ini tek ba\u015f\u0131na kar\u015f\u0131layan <b>G\u00fcrcistan<\/b>. En \u00e7ok elektrik <i>ihra\u00e7 etti\u011fimiz<\/i> ikinci \u00fclke ise toplam ihracat\u0131n <b>%31<\/b>&#8216;ini olu\u015fturan <b>Suriye<\/b>.<\/li>\n<\/ul>\n<p>Bu veriler, T\u00fcrkiye&#8217;nin enerji \u00fcretiminde serbest piyasa dinamiklerine ne kadar h\u0131zl\u0131 adapte oldu\u011funu g\u00f6steriyor. Ayn\u0131 zamanda G\u00fcrcistan ve Suriye gibi, kamuoyunun genel beklentisinin d\u0131\u015f\u0131nda kalan \u00fclkelerle kurulan bu yo\u011fun elektrik ticareti, b\u00f6lgesel enerji dinamiklerinin ne kadar karma\u015f\u0131k ve \u015fa\u015f\u0131rt\u0131c\u0131 olabilece\u011fini kan\u0131tl\u0131yor.<\/p>\n<h3><b>\u0130ki Farkl\u0131 Turist, \u0130ki Farkl\u0131 Hikaye: Harcama Al\u0131\u015fkanl\u0131klar\u0131 Ne Anlat\u0131yor?<\/b><\/h3>\n<p>T\u00fcrkiye, her y\u0131l milyonlarca turisti a\u011f\u0131rlayan bir turizm cenneti. Ancak &#8220;turist&#8221; dedi\u011fimizde akl\u0131m\u0131za tek bir profil mi gelmeli? Rapor, asl\u0131nda iki farkl\u0131 ziyaret\u00e7i grubunun \u00fclkeye geldi\u011fini ve bu gruplar aras\u0131nda harcama al\u0131\u015fkanl\u0131klar\u0131ndan seyahat ama\u00e7lar\u0131na kadar b\u00fcy\u00fck farklar oldu\u011funu g\u00f6steriyor.<\/p>\n<ul>\n<li>2025&#8217;in ikinci \u00e7eyre\u011finde, \u00fclkeyi ziyaret eden genel turistlerin gecelik ortalama harcamas\u0131 <b>110 dolar<\/b>. Yurt d\u0131\u015f\u0131nda ya\u015fayan ve \u00fclkeye gelen T\u00fcrk vatanda\u015flar\u0131n\u0131n gecelik ortalama harcamas\u0131 ise sadece <b>73 dolar<\/b>.<\/li>\n<li>Ziyaret amac\u0131 bu fark\u0131 daha da netle\u015ftiriyor: Genel ziyaret\u00e7ilerin <b>%71,1<\/b>&#8216;i &#8220;gezi, e\u011flence, sportif ve k\u00fclt\u00fcrel faaliyetler&#8221; i\u00e7in gelirken, yurt d\u0131\u015f\u0131nda ikamet eden vatanda\u015flar\u0131m\u0131z\u0131n <b>%60,7<\/b>&#8216;si &#8220;akraba ve arkada\u015f ziyareti&#8221; amac\u0131yla geliyor.<\/li>\n<\/ul>\n<p>Bu veriler, T\u00fcrkiye turizminin iki farkl\u0131 motorla \u00e7al\u0131\u015ft\u0131\u011f\u0131n\u0131 g\u00f6steriyor. Bir yanda \u00fclkeye d\u00f6viz kazand\u0131ran, otellerde konaklayan ve turistik aktivitelere para harcayan klasik turist profili var. Di\u011fer yanda ise daha \u00e7ok sosyal ba\u011flara dayal\u0131, konaklamas\u0131n\u0131 ve yeme-i\u00e7mesini b\u00fcy\u00fck oranda kendi evinde veya akrabalar\u0131nda \u00e7\u00f6zen, dolay\u0131s\u0131yla daha d\u00fc\u015f\u00fck bir harcama profiline sahip olan &#8220;gurbet\u00e7i&#8221; ziyaret\u00e7i kitlesi bulunuyor. Bu ayr\u0131m, turizm gelirlerini art\u0131rmaya y\u00f6nelik stratejiler geli\u015ftirilirken dikkate al\u0131nmas\u0131 gereken en \u00f6nemli verilerden biri.<\/p>\n<h3><b>Sonu\u00e7: Verilerin F\u0131s\u0131ldad\u0131\u011f\u0131 Ger\u00e7ekler<\/b><\/h3>\n<p>Bu d\u00f6rt \u00f6rnek, bir holding raporunun so\u011fuk ve mesafeli g\u00f6r\u00fcnen rakamlar\u0131n\u0131n ard\u0131nda ne kadar canl\u0131, dinamik ve bazen de \u015fa\u015f\u0131rt\u0131c\u0131 bir \u00fclke portresi saklad\u0131\u011f\u0131n\u0131 g\u00f6steriyor. \u0130stanbul&#8217;un sa\u011fl\u0131k altyap\u0131s\u0131ndan enerji ticaretimizin beklenmedik ortaklar\u0131na, geri d\u00f6n\u00fc\u015f\u00fcmdeki eksiklerimizden turizmdeki \u00e7ift y\u00f6nl\u00fc dinami\u011fe kadar her veri, bize daha b\u00fcy\u00fck bir hikayenin par\u00e7as\u0131n\u0131 anlat\u0131yor.<\/p>\n<p>Peki, g\u00fcndelik hayat\u0131n ak\u0131\u015f\u0131nda g\u00f6zden ka\u00e7\u0131rd\u0131\u011f\u0131m\u0131z rakamlar, bize daha ne gibi \u015fa\u015f\u0131rt\u0131c\u0131 hikayeler anlat\u0131yor olabilir?<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h1><span style=\"color: #0000ff;\">Avrupa Yat\u0131r\u0131m Holding A.\u015e. 2025 \u00dc\u00e7\u00fcnc\u00fc \u00c7eyrek Faaliyet Raporu Brifingi<\/span><\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu brifing, Avrupa Yat\u0131r\u0131m Holding A.\u015e.&#8217;nin (AVHOL) 01 Ocak 2025 \u2013 30 Eyl\u00fcl 2025 d\u00f6nemine ait faaliyet raporu ve finansal tablolar\u0131n\u0131 sentezleyerek \u015firketin stratejik y\u00f6n\u00fc, operasyonel performans\u0131 ve mali durumu hakk\u0131nda kapsaml\u0131 bir analiz sunmaktad\u0131r. Holding, alt\u0131 ana sekt\u00f6rde (Sa\u011fl\u0131k, Enerji, Turizm, Tar\u0131m, Pazarlama ve Geri D\u00f6n\u00fc\u015f\u00fcm) faaliyet g\u00f6steren \u00e7e\u015fitlendirilmi\u015f bir portf\u00f6y\u00fc y\u00f6netmektedir.<\/p>\n<p>D\u00f6nemin \u00f6ne \u00e7\u0131kan geli\u015fmeleri aras\u0131nda, Holding&#8217;in Romanya&#8217;da 9,5 milyon EURO de\u011ferinde 10 MWh kapasiteli bir G\u00fcne\u015f Enerjisi Santrali (GES) projesine ba\u015flamas\u0131 yer almaktad\u0131r. Bu yat\u0131r\u0131m, \u015firketin yenilenebilir enerji alan\u0131ndaki b\u00fcy\u00fcme stratejisinin \u00f6nemli bir par\u00e7as\u0131n\u0131 olu\u015fturmaktad\u0131r. Sa\u011fl\u0131k sekt\u00f6r\u00fcnde, ba\u011fl\u0131 ortakl\u0131klar Avrupa Hospital ve Global Dr. G\u00f6z T\u0131p Merkezi arac\u0131l\u0131\u011f\u0131yla hizmet sunumuna devam edilmi\u015ftir. Rapor, T\u00fcrkiye&#8217;deki sa\u011fl\u0131k altyap\u0131s\u0131 ve harcamalar\u0131ndaki b\u00fcy\u00fcmeye dikkat \u00e7ekerek bu alandaki potansiyeli vurgulamaktad\u0131r.<\/p>\n<p>Finansal olarak, Holding&#8217;in konsolide varl\u0131klar\u0131 30 Eyl\u00fcl 2025 itibar\u0131yla 3 milyar TL&#8217;yi a\u015farak bir \u00f6nceki y\u0131l sonuna g\u00f6re \u00f6nemli bir art\u0131\u015f g\u00f6stermi\u015ftir. Ana ortakl\u0131\u011fa ait d\u00f6nem net k\u00e2r\u0131 831,5 milyon TL olarak ger\u00e7ekle\u015fmi\u015ftir. Bu sonu\u00e7lar, \u00f6zellikle yat\u0131r\u0131m faaliyetlerinden elde edilen gelirlerin g\u00fc\u00e7l\u00fc etkisini yans\u0131tmaktad\u0131r. Risk y\u00f6netimi, \u015firketin s\u00fcrd\u00fcr\u00fclebilirli\u011fi i\u00e7in kritik bir unsur olup, bu ama\u00e7la kurulan Riskin Erken Saptanmas\u0131 Komitesi aktif olarak g\u00f6rev yapmaktad\u0131r.<\/p>\n<h2>1. Genel Bilgiler ve Kurumsal Yap\u0131<\/h2>\n<p>Avrupa Yat\u0131r\u0131m Holding A.\u015e., yurt i\u00e7i ve yurt d\u0131\u015f\u0131ndaki \u015firketlerin sermaye ve y\u00f6netimine kat\u0131larak ekonomik dalgalanmalara kar\u015f\u0131 yat\u0131r\u0131mlar\u0131n g\u00fcvenli\u011fini art\u0131rmay\u0131 ve bu \u015firketlerin geli\u015fimini desteklemeyi ama\u00e7layan bir holding \u015firketidir.<\/p>\n<h3>1.1. \u015eirket K\u00fcnyesi<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Bilgi<\/td>\n<td>Detay<\/td>\n<\/tr>\n<tr>\n<td><b>Ticaret Unvan\u0131<\/b><\/td>\n<td>AVRUPA YATIRIM HOLD\u0130NG A.\u015e.<\/td>\n<\/tr>\n<tr>\n<td><b>Merkez Adresi<\/b><\/td>\n<td>LEVENT MAHALLES\u0130 GAZETEC\u0130LER S\u0130T. A21\/4 BLOK APT. NO.47\/3 BE\u015e\u0130KTA\u015e\/\u0130STANBUL<\/td>\n<\/tr>\n<tr>\n<td><b>Telefon \/ Faks<\/b><\/td>\n<td>(212) 934 09 09 \/ (212) 934 02 93<\/td>\n<\/tr>\n<tr>\n<td><b>Ticaret Sicil No<\/b><\/td>\n<td>953544-0<\/td>\n<\/tr>\n<tr>\n<td><b>Mersis Numaras\u0131<\/b><\/td>\n<td>0159035251600018<\/td>\n<\/tr>\n<tr>\n<td><b>B\u0130ST Pazar\/Kod<\/b><\/td>\n<td>Ana Pazar \/ AVHOL<\/td>\n<\/tr>\n<tr>\n<td><b>\u0130nternet Adresi<\/b><\/td>\n<td>http:\/\/avrupayatirimholding.com.tr\/<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>1.2. Y\u00f6netim ve Komiteler<\/h3>\n<p>\u015eirket y\u00f6netimi, 20.06.2025 tarihli Ola\u011fan Genel Kurul&#8217;da 2028 y\u0131l\u0131na kadar \u00fc\u00e7 y\u0131ll\u0131k s\u00fcre i\u00e7in se\u00e7ilen Y\u00f6netim Kurulu taraf\u0131ndan y\u00fcr\u00fct\u00fclmektedir.<\/p>\n<p><b>Y\u00f6netim Kurulu (2025-2028)<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Ad\u0131 ve Soyad\u0131<\/td>\n<td>G\u00f6revi<\/td>\n<\/tr>\n<tr>\n<td>Ramazan Burak TELL\u0130<\/td>\n<td>Y\u00f6netim Kurulu Ba\u015fkan\u0131<\/td>\n<\/tr>\n<tr>\n<td>Turan KAYA<\/td>\n<td>Y\u00f6netim Kurulu Ba\u015fkan Yard\u0131mc\u0131s\u0131<\/td>\n<\/tr>\n<tr>\n<td>Balkan AKBA\u015e<\/td>\n<td>Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<\/tr>\n<tr>\n<td>Ertu\u011frul SARIYAR<\/td>\n<td>Ba\u011f\u0131ms\u0131z Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<\/tr>\n<tr>\n<td>Ali Y\u00dcKSEL<\/td>\n<td>Ba\u011f\u0131ms\u0131z Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li>\u015eirketi temsil ve ilzam yetkisi, Y\u00f6netim Kurulu Ba\u015fkan\u0131 Ramazan Burak TELL\u0130&#8217;ye m\u00fcnferit imza ile verilmi\u015ftir.<\/li>\n<\/ul>\n<p><b>Komiteler (2025-2028)<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Komite<\/td>\n<td>Ba\u015fkan<\/td>\n<td>\u00dcye(ler)<\/td>\n<\/tr>\n<tr>\n<td><b>Kurumsal Y\u00f6netim Komitesi<\/b><\/td>\n<td>Ali Y\u00dcKSEL (Ba\u011f\u0131ms\u0131z \u00dcye)<\/td>\n<td>Ertu\u011frul SARIYAR, Y\u0131ld\u0131r\u0131m KILLAN<\/td>\n<\/tr>\n<tr>\n<td><b>Denetimden Sorumlu Komite<\/b><\/td>\n<td>Ali Y\u00dcKSEL (Ba\u011f\u0131ms\u0131z \u00dcye)<\/td>\n<td>Ertu\u011frul SARIYAR<\/td>\n<\/tr>\n<tr>\n<td><b>Riskin Erken Saptanmas\u0131 Komitesi<\/b><\/td>\n<td>Ali Y\u00dcKSEL (Ba\u011f\u0131ms\u0131z \u00dcye)<\/td>\n<td>Ertu\u011frul SARIYAR<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>1.3. Sermaye ve Ortakl\u0131k Yap\u0131s\u0131<\/h3>\n<p>\u015eirketin kay\u0131tl\u0131 sermayesi 37.250.000 TL&#8217;dir.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Orta\u011f\u0131n Ad\u0131\/Unvan\u0131<\/td>\n<td>Sermaye Pay\u0131 (TL)<\/td>\n<td>Oran\u0131 (%)<\/td>\n<\/tr>\n<tr>\n<td>Alsancak Sa\u011fl\u0131k Hiz.Tic.A.\u015e.<\/td>\n<td>13.652.000<\/td>\n<td>36,65<\/td>\n<\/tr>\n<tr>\n<td>Halka A\u00e7\u0131k<\/td>\n<td>23.598.000<\/td>\n<td>63,35<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam<\/b><\/td>\n<td><b>37.250.000<\/b><\/td>\n<td><b>100,00<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>\u0130mtiyazl\u0131 Paylar:<\/b> \u015eirket sermayesi, A Grubu imtiyazl\u0131 ve B Grubu imtiyazs\u0131z paylardan olu\u015fmaktad\u0131r. A Grubu paylar, Y\u00f6netim Kurulu ve Denetim Kurulu se\u00e7imlerinde aday g\u00f6sterme imtiyaz\u0131na sahiptir. Ayr\u0131ca, k\u00e2r da\u011f\u0131t\u0131m\u0131nda %10&#8217;luk bir imtiyazlar\u0131 bulunmaktad\u0131r (Madde 16).<\/p>\n<h2>2. Faaliyetler ve Sekt\u00f6rel De\u011ferlendirmeler<\/h2>\n<p>Holding, alt\u0131 ana faaliyet alan\u0131nda toplanan \u00e7e\u015fitli \u015firketler arac\u0131l\u0131\u011f\u0131yla operasyonlar\u0131n\u0131 s\u00fcrd\u00fcrmektedir. Bu \u015firketler operasyonel olarak otonom olmakla birlikte, finansman, denetim, hukuk ve insan kaynaklar\u0131 gibi konularda merkezi koordinasyona tabidir.<\/p>\n<h3>2.1. Holding B\u00fcnyesindeki \u015eirketler<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Ticaret Unvan\u0131<\/td>\n<td>Faaliyet Konusu<\/td>\n<td>\u00d6denmi\u015f Sermaye<\/td>\n<td>Holding&#8217;in Pay\u0131 (%)<\/td>\n<td>\u0130li\u015fki Niteli\u011fi<\/td>\n<\/tr>\n<tr>\n<td>ARMED SA\u011eLIK H\u0130Z. VE MED\u0130KAL SAN. T\u0130C. A.\u015e.<\/td>\n<td>SA\u011eLIK<\/td>\n<td>20.000.000 TRY<\/td>\n<td>100<\/td>\n<td>Ba\u011fl\u0131 Ortakl\u0131k<\/td>\n<\/tr>\n<tr>\n<td>SEREN SA\u011eLIK H\u0130ZMETLER\u0130 A.\u015e.<\/td>\n<td>SA\u011eLIK<\/td>\n<td>12.000.000 TRY<\/td>\n<td>100<\/td>\n<td>Ba\u011fl\u0131 Ortakl\u0131k<\/td>\n<\/tr>\n<tr>\n<td>AVREN ENERJ\u0130 SANAY\u0130 VE T\u0130CARET L\u0130M\u0130TED \u015e\u0130RKET\u0130<\/td>\n<td>ENERJ\u0130<\/td>\n<td>50.000.000 TRY<\/td>\n<td>100<\/td>\n<td>Ba\u011fl\u0131 Ortakl\u0131k<\/td>\n<\/tr>\n<tr>\n<td>ARONYA B\u0130TK\u0130 VE TARIM \u00dcR\u00dcNLER\u0130 ANON\u0130M \u015e\u0130RKET\u0130<\/td>\n<td>TARIM<\/td>\n<td>4.000.000 TRY<\/td>\n<td>100<\/td>\n<td>Ba\u011fl\u0131 Ortakl\u0131k<\/td>\n<\/tr>\n<tr>\n<td>NOYAN DAYANIKLI T\u00dcKET\u0130M \u00dcR\u00dcNLER\u0130 PAZARLAMA A.\u015e.<\/td>\n<td>PAZARLAMA<\/td>\n<td>1.000.000 TRY<\/td>\n<td>100<\/td>\n<td>Ba\u011fl\u0131 Ortakl\u0131k<\/td>\n<\/tr>\n<tr>\n<td>ERRA KAU\u00c7UK SANAY\u0130 VE T\u0130C. A.\u015e.<\/td>\n<td>GER\u0130 D\u00d6N\u00dc\u015e\u00dcM<\/td>\n<td>600.000 TRY<\/td>\n<td>67<\/td>\n<td>Ba\u011fl\u0131 Ortakl\u0131k<\/td>\n<\/tr>\n<tr>\n<td>ALS YEN\u0130LENEB\u0130L\u0130R ENERJ\u0130 A.\u015e.<\/td>\n<td>ENERJ\u0130<\/td>\n<td>20.000.000 TRY<\/td>\n<td>100<\/td>\n<td>Ba\u011fl\u0131 Ortakl\u0131k<\/td>\n<\/tr>\n<tr>\n<td>MEKEN INVEST S.R.L.<\/td>\n<td>ENERJ\u0130<\/td>\n<td>50.000 EURO<\/td>\n<td>100<\/td>\n<td>Ba\u011fl\u0131 Ortakl\u0131k<\/td>\n<\/tr>\n<tr>\n<td>ULA\u015eLAR TUR\u0130ZM ENERJ\u0130 TARIM GIDA VE \u0130N\u015eAAT YATIRIMLARI A.\u015e.<\/td>\n<td>TUR\u0130ZM<\/td>\n<td>25.382.175 TRY<\/td>\n<td>12,57<\/td>\n<td>\u0130\u015ftirak<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>2.2. Sa\u011fl\u0131k Sekt\u00f6r\u00fc<\/h3>\n<p><b>Sekt\u00f6r Analizi:<\/b><\/p>\n<ul>\n<li><b>K\u00fcresel Durum:<\/b> COVID-19 pandemisi, k\u00fcresel ya\u015fam beklentisinde on y\u0131ldan fazla s\u00fcren kazan\u0131mlar\u0131 tersine \u00e7evirmi\u015ftir. Bula\u015f\u0131c\u0131 olmayan hastal\u0131klar (BOH) d\u00fcnya genelinde \u00f6nde gelen \u00f6l\u00fcm nedeni olmaya devam etmektedir.<\/li>\n<li><b>T\u00fcrkiye De\u011ferlendirmesi:<\/b> T\u00fcrkiye&#8217;de sa\u011fl\u0131k harcamalar\u0131 2023&#8217;te bir \u00f6nceki y\u0131la g\u00f6re %105 artarak 1,24 trilyon TL&#8217;ye ula\u015fm\u0131\u015ft\u0131r. Toplam harcamalar\u0131n %77,5&#8217;i genel devlet b\u00fct\u00e7esinden finanse edilmektedir. Ki\u015fi ba\u015f\u0131 sa\u011fl\u0131k harcamas\u0131 14.582 TL&#8217;ye y\u00fckselmi\u015ftir.<\/li>\n<li><b>Altyap\u0131:<\/b> 2023 itibar\u0131yla T\u00fcrkiye&#8217;de 1.566 hastane ve 266.594 yatak kapasitesi bulunmaktad\u0131r. 10.000 ki\u015fiye d\u00fc\u015fen yatak say\u0131s\u0131 33,7 ile OECD (44,5) ve AB (42,5) ortalamalar\u0131n\u0131n alt\u0131ndad\u0131r. Nitelikli yatak oran\u0131 ise 2002&#8217;de %11,7 iken 2023&#8217;te %82,5&#8217;e ula\u015fm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<p><b>Holding Faaliyetleri:<\/b><\/p>\n<ul>\n<li><b>Armed Sa\u011fl\u0131k Hizmetleri A.\u015e. (Avrupa Hospital):<\/b> 1996&#8217;da kurulan ve 2013&#8217;te Holding b\u00fcnyesine kat\u0131lan hastane, \u0130stanbul Arnavutk\u00f6y&#8217;de genel cerrahi, dahiliye, kad\u0131n do\u011fum gibi 15 farkl\u0131 b\u00f6l\u00fcmde 128 personel ile hizmet vermektedir. %100 ba\u011fl\u0131 ortakl\u0131kt\u0131r.<\/li>\n<li><b>Seren Sa\u011fl\u0131k Hizmetleri A.\u015e. (\u00d6zel Global Dr. G\u00f6z T\u0131p Merkezi):<\/b> 2018&#8217;de \u0130stanbul Fatih&#8217;te kurulan merkez, g\u00f6z hastal\u0131klar\u0131 tan\u0131 ve tedavisinde (retina, katarakt, lazer) uzmanla\u015fm\u0131\u015ft\u0131r. Seren Sa\u011fl\u0131k, Holding&#8217;in %100 ba\u011fl\u0131 ortakl\u0131\u011f\u0131d\u0131r.<\/li>\n<\/ul>\n<h3>2.3. Enerji Sekt\u00f6r\u00fc<\/h3>\n<p><b>Sekt\u00f6r Analizi:<\/b><\/p>\n<ul>\n<li><b>Talep ve T\u00fcketim:<\/b> T\u00fcrkiye&#8217;de elektrik talebi 2000-2023 aras\u0131nda y\u0131ll\u0131k %4,2 b\u00fcy\u00fcm\u00fc\u015ft\u00fcr. 2024&#8217;\u00fcn ilk yar\u0131s\u0131nda t\u00fcketim, bir \u00f6nceki y\u0131la g\u00f6re %5,9 artm\u0131\u015ft\u0131r. T\u00fcketimde %41 ile en b\u00fcy\u00fck pay sanayinindir.<\/li>\n<li><b>Arz ve Kaynaklar:<\/b> Haziran 2024 sonu itibar\u0131yla T\u00fcrkiye&#8217;nin kurulu g\u00fcc\u00fc 110.539 MW olup, bunun %57,3&#8217;\u00fc yenilenebilir kaynaklardan olu\u015fmaktad\u0131r. Yerli kaynaklar\u0131n \u00fcretimdeki pay\u0131 %66&#8217;ya ula\u015fm\u0131\u015ft\u0131r. Devletin (E\u00dcA\u015e) kurulu g\u00fc\u00e7teki pay\u0131 %19,5&#8217;e gerilemi\u015ftir.<\/li>\n<\/ul>\n<p><b>Holding Faaliyetleri:<\/b><\/p>\n<ul>\n<li>Holding, Avren Enerji Sanayi ve Ticaret Limited \u015eirketi \u00e7at\u0131s\u0131 alt\u0131nda faaliyet g\u00f6stermektedir.<\/li>\n<li><b>ALS Yenilenebilir Enerji A.\u015e.:<\/b> Afyon&#8217;da bir g\u00fcne\u015f enerji tesisi i\u015fletmek amac\u0131yla kurulmu\u015ftur.<\/li>\n<li><b>Meken Invest S.R.L.:<\/b> Romanya&#8217;daki yenilenebilir enerji yat\u0131r\u0131mlar\u0131 i\u00e7in kurulmu\u015ftur. Bu kapsamda, Romanya&#8217;da 10 MWh&#8217;lik bir GES projesi i\u00e7in Aldo Energy S.R.L. ile 9.500.000 EURO bedelle anahtar teslim kurulum s\u00f6zle\u015fmesi imzalanm\u0131\u015ft\u0131r. \u0130n\u015faat\u0131n Temmuz 2024&#8217;te ba\u015flay\u0131p Aral\u0131k 2025&#8217;te tamamlanarak enerji sat\u0131\u015f\u0131na ba\u015flanmas\u0131 hedeflenmektedir.<\/li>\n<\/ul>\n<h3>2.4. Turizm Sekt\u00f6r\u00fc<\/h3>\n<p><b>Sekt\u00f6r Analizi:<\/b><\/p>\n<ul>\n<li><b>2025 II. \u00c7eyrek Verileri:<\/b> T\u00fcrkiye&#8217;nin turizm geliri, 2025&#8217;in ikinci \u00e7eyre\u011finde bir \u00f6nceki y\u0131la g\u00f6re %8,4 artarak 16,3 milyar dolar olmu\u015ftur. Ziyaret\u00e7i say\u0131s\u0131 %2 art\u0131\u015fla 16,4 milyon ki\u015fiye ula\u015fm\u0131\u015ft\u0131r. Ziyaret\u00e7ilerin ki\u015fi ba\u015f\u0131 ortalama harcamas\u0131 981 dolar, gecelik ortalama harcamas\u0131 ise 110 dolar olarak ger\u00e7ekle\u015fmi\u015ftir.<\/li>\n<\/ul>\n<p><b>Holding Faaliyetleri:<\/b><\/p>\n<ul>\n<li>Holding, sermayesinin %12,57&#8217;sine sahip oldu\u011fu <b>Ula\u015flar Turizm Enerji Tar\u0131m G\u0131da ve \u0130n\u015faat Yat\u0131r\u0131mlar\u0131 A.\u015e. (ULAS)<\/b> arac\u0131l\u0131\u011f\u0131yla turizm sekt\u00f6r\u00fcnde yer almaktad\u0131r.<\/li>\n<li>ULAS&#8217;\u0131n m\u00fclkiyetinde, Antalya Alanya&#8217;da bulunan <b>Mysea Hotel Alara<\/b> tesisi bulunmaktad\u0131r. Bu tesis, U\u00e7sa Turizm Otelcilik taraf\u0131ndan kiralanarak i\u015fletilmektedir.<\/li>\n<\/ul>\n<h3>2.5. Tar\u0131m Sekt\u00f6r\u00fc<\/h3>\n<p><b>Sekt\u00f6r Analizi:<\/b><\/p>\n<ul>\n<li><b>\u0130\u015fg\u00fcc\u00fc \u00dccretleri:<\/b> 2024 y\u0131l\u0131nda mevsimlik tar\u0131m i\u015f\u00e7ilerinin ortalama g\u00fcnl\u00fck \u00fccreti %84,2 artarak 943 TL&#8217;ye, s\u00fcrekli i\u015f\u00e7ilerin ayl\u0131k \u00fccreti ise %95,5 artarak 26.259 TL&#8217;ye y\u00fckselmi\u015ftir.<\/li>\n<\/ul>\n<p><b>Holding Faaliyetleri:<\/b><\/p>\n<ul>\n<li>Holding, %100 i\u015ftiraki olan <b>Aronya Bitki ve Tar\u0131m \u00dcr\u00fcnleri A.\u015e.<\/b> ile bu sekt\u00f6rde faaliyet g\u00f6stermektedir. \u015eirket, \u0130zmir Seferihisar&#8217;da bulunan fabrikas\u0131nda her t\u00fcrl\u00fc ya\u015f sebze ve meyve al\u0131m\u0131, sat\u0131m\u0131, i\u015flenmesi, paketlenmesi ve pazarlamas\u0131 konular\u0131nda \u00e7al\u0131\u015fmaktad\u0131r.<\/li>\n<\/ul>\n<h3>2.6. Pazarlama Sekt\u00f6r\u00fc<\/h3>\n<p><b>Sekt\u00f6r Analizi:<\/b><\/p>\n<ul>\n<li><b>Ticaret Sat\u0131\u015f Hacmi:<\/b> Aral\u0131k 2024&#8217;te ticaret sat\u0131\u015f hacmi bir \u00f6nceki y\u0131l\u0131n ayn\u0131 ay\u0131na g\u00f6re %8,2 artm\u0131\u015ft\u0131r. Bu art\u0131\u015fta perakende ticaret %13,5&#8217;lik b\u00fcy\u00fcme ile \u00f6ne \u00e7\u0131km\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<p><b>Holding Faaliyetleri:<\/b><\/p>\n<ul>\n<li><b>Noyan Dayan\u0131kl\u0131 T\u00fcketim \u00dcr\u00fcnleri Pazarlama A.\u015e.<\/b>, otomotiv ve beyaz e\u015fya alanlar\u0131ndaki f\u0131rsatlar\u0131 de\u011ferlendirmek amac\u0131yla kurulmu\u015f %100 ba\u011fl\u0131 bir ortakl\u0131kt\u0131r.<\/li>\n<\/ul>\n<h3>2.7. Geri D\u00f6n\u00fc\u015f\u00fcm Sekt\u00f6r\u00fc<\/h3>\n<p><b>Sekt\u00f6r Analizi:<\/b><\/p>\n<ul>\n<li><b>T\u00fcrkiye&#8217;deki Durum:<\/b> T\u00fcrkiye&#8217;de her y\u0131l \u00fcretilen yakla\u015f\u0131k 23 milyon ton at\u0131\u011f\u0131n sadece %7&#8217;si geri d\u00f6n\u00fc\u015ft\u00fcr\u00fclmektedir. 2022 verilerine g\u00f6re toplam 109,2 milyon ton at\u0131k (imalat, maden, termik santral, hanehalk\u0131) olu\u015fmu\u015ftur. Belediyeler taraf\u0131ndan toplanan 30,3 milyon ton at\u0131\u011f\u0131n %85,9&#8217;u at\u0131k i\u015fleme tesislerine g\u00f6nderilmi\u015ftir.<\/li>\n<li><b>Pazar F\u0131rsat\u0131:<\/b> T\u00fcrkiye&#8217;de hurdaya ayr\u0131lan lastiklerin yaln\u0131zca %30&#8217;u geri d\u00f6n\u00fc\u015ft\u00fcr\u00fclmektedir, bu da sekt\u00f6rde \u00f6nemli bir bo\u015fluk ve b\u00fcy\u00fcme potansiyeli oldu\u011funu g\u00f6stermektedir.<\/li>\n<\/ul>\n<p><b>Holding Faaliyetleri:<\/b><\/p>\n<ul>\n<li>Holding, %67 oran\u0131nda i\u015ftiraki olan <b>Erra Kau\u00e7uk Sanayi ve Ticaret A.\u015e.<\/b> ile bu alanda yer almaktad\u0131r. \u015eirket, lastik at\u0131klar\u0131ndan elde edilecek hammadde ile zemin kaplama malzemeleri \u00fcretmeyi planlamaktad\u0131r.<\/li>\n<\/ul>\n<h2>3. Finansal Durum<\/h2>\n<p>Holding&#8217;in 30 Eyl\u00fcl 2025 tarihli konsolide finansal tablolar\u0131, bir \u00f6nceki y\u0131l sonuna k\u0131yasla varl\u0131k ve \u00f6zkaynaklarda \u00f6nemli bir b\u00fcy\u00fcme oldu\u011funu g\u00f6stermektedir.<\/p>\n<h3>3.1. Konsolide Finansal Durum Tablosu (Bilan\u00e7o) \u00d6zeti<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem (TL)<\/td>\n<td><b>30.09.2025<\/b><\/td>\n<td><b>31.12.2024<\/b><\/td>\n<td>De\u011fi\u015fim (%)<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam D\u00f6nen Varl\u0131klar<\/b><\/td>\n<td>1.857.486.389<\/td>\n<td>642.023.108<\/td>\n<td>+189,3%<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Duran Varl\u0131klar<\/b><\/td>\n<td>1.150.301.252<\/td>\n<td>1.086.669.438<\/td>\n<td>+5,9%<\/td>\n<\/tr>\n<tr>\n<td><b>TOPLAM VARLIKLAR<\/b><\/td>\n<td><b>3.007.787.641<\/b><\/td>\n<td><b>1.728.692.546<\/b><\/td>\n<td><b>+74,0%<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>K\u0131sa Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler<\/b><\/td>\n<td>709.117.508<\/td>\n<td>510.429.383<\/td>\n<td>+38,9%<\/td>\n<\/tr>\n<tr>\n<td><b>Uzun Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler<\/b><\/td>\n<td>334.747.401<\/td>\n<td>115.295.856<\/td>\n<td>+190,3%<\/td>\n<\/tr>\n<tr>\n<td><b>TOPLAM Y\u00dcK\u00dcML\u00dcL\u00dcKLER<\/b><\/td>\n<td>1.043.864.909<\/td>\n<td>625.725.239<\/td>\n<td>+66,8%<\/td>\n<\/tr>\n<tr>\n<td><b>Ana Ortakl\u0131\u011fa Ait \u00d6zkaynaklar<\/b><\/td>\n<td>1.572.862.305<\/td>\n<td>740.956.344<\/td>\n<td>+112,3%<\/td>\n<\/tr>\n<tr>\n<td><b>TOPLAM \u00d6ZKAYNAKLAR<\/b><\/td>\n<td><b>1.963.922.732<\/b><\/td>\n<td><b>1.102.967.307<\/b><\/td>\n<td><b>+78,0%<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>TOPLAM KAYNAKLAR<\/b><\/td>\n<td><b>3.007.787.641<\/b><\/td>\n<td><b>1.728.692.546<\/b><\/td>\n<td><b>+74,0%<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><i>Varl\u0131klardaki art\u0131\u015f\u0131n ana kayna\u011f\u0131, d\u00f6nen varl\u0131klardaki, \u00f6zellikle de finansal yat\u0131r\u0131mlardaki (218 milyon TL&#8217;den 1,26 milyar TL&#8217;ye) g\u00fc\u00e7l\u00fc y\u00fckseli\u015ftir.<\/i><\/p>\n<h3>3.2. Konsolide K\u00e2r veya Zarar Tablosu \u00d6zeti (01.01 &#8211; 30.09 D\u00f6nemi)<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem (TL)<\/td>\n<td><b>2025<\/b><\/td>\n<td><b>2024<\/b><\/td>\n<\/tr>\n<tr>\n<td>Has\u0131lat<\/td>\n<td>312.732.331<\/td>\n<td>786.572.664<\/td>\n<\/tr>\n<tr>\n<td>Br\u00fct Kar<\/td>\n<td>38.027.101<\/td>\n<td>202.816.769<\/td>\n<\/tr>\n<tr>\n<td>Esas Faaliyet Kar\u0131\/Zarar\u0131<\/td>\n<td>(4.516.307)<\/td>\n<td>224.739.820<\/td>\n<\/tr>\n<tr>\n<td>Yat\u0131r\u0131m Faaliyetlerinden Gelirler<\/td>\n<td>1.270.409.056<\/td>\n<td>49.353.819<\/td>\n<\/tr>\n<tr>\n<td><b>Vergi \u00d6ncesi Kar<\/b><\/td>\n<td><b>1.138.416.272<\/b><\/td>\n<td><b>241.362.938<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>S\u00fcrd\u00fcr\u00fclen Faaliyetler D\u00f6nem Kar\u0131<\/b><\/td>\n<td><b>861.229.217<\/b><\/td>\n<td><b>130.675.037<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Ana Ortakl\u0131k Paylar\u0131 Net D\u00f6nem Kar\u0131<\/b><\/td>\n<td><b>831.560.752<\/b><\/td>\n<td><b>130.675.037<\/b><\/td>\n<\/tr>\n<tr>\n<td>Pay Ba\u015f\u0131na Kazan\u00e7<\/td>\n<td>0,22<\/td>\n<td>0,04<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><i>2025&#8217;in ilk dokuz ay\u0131nda has\u0131latta bir \u00f6nceki y\u0131la g\u00f6re d\u00fc\u015f\u00fc\u015f olmas\u0131na ra\u011fmen, yat\u0131r\u0131m faaliyetlerinden elde edilen 1,27 milyar TL&#8217;lik gelir, d\u00f6nem k\u00e2r\u0131n\u0131 \u00f6nemli \u00f6l\u00e7\u00fcde art\u0131rm\u0131\u015ft\u0131r.<\/i><\/p>\n<h2>4. Riskler ve Y\u00f6netim De\u011ferlendirmesi<\/h2>\n<p>\u015eirket, varl\u0131\u011f\u0131n\u0131 ve geli\u015fimini tehlikeye atabilecek risklerin erken te\u015fhisi ve gerekli \u00f6nlemlerin al\u0131nmas\u0131 amac\u0131yla bir risk y\u00f6netim ve i\u00e7 kontrol mekanizmas\u0131 i\u015fletmektedir. Y\u00f6netim Kurulu taraf\u0131ndan olu\u015fturulan &#8220;Riskin Erken Saptanmas\u0131 Komitesi&#8221; bu s\u00fcrecin merkezinde yer almaktad\u0131r. Komite, 2025 y\u0131l\u0131 i\u00e7erisinde bir kez toplanm\u0131\u015ft\u0131r. \u015eirketin i\u00e7 kontrol mekanizmas\u0131 hukuk, muhasebe ve finansman birimleri taraf\u0131ndan y\u00fcr\u00fct\u00fclmektedir.<\/p>\n<h2>5. Di\u011fer Hususlar<\/h2>\n<ul>\n<li><b>Hukuki Durum:<\/b> Raporlama d\u00f6nemi itibar\u0131yla \u015firketin mali durumunu ve faaliyetlerini etkileyebilecek b\u00fcy\u00fckl\u00fckte aleyhine a\u00e7\u0131lm\u0131\u015f bir dava bulunmamaktad\u0131r.<\/li>\n<li><b>Genel Kurul:<\/b> 2024 y\u0131l\u0131 Ola\u011fan Genel Kurul toplant\u0131s\u0131 20.06.2025 tarihinde ger\u00e7ekle\u015ftirilmi\u015ftir.<\/li>\n<li><b>Ara\u015ft\u0131rma ve Geli\u015ftirme:<\/b> Holding&#8217;in 30 Eyl\u00fcl 2025 itibar\u0131yla konsolide Ar-Ge giderleri 33 milyon TL&#8217;dir.<\/li>\n<li><b>Y\u00f6netim Kurulu Mali Haklar\u0131:<\/b> Y\u00f6netim organ\u0131 \u00fcyelerine sa\u011flanan huzur hakk\u0131 gibi mali menfaatlerin toplam tutar\u0131 2.340.000 TL&#8217;dir.<\/li>\n<li><b>AVHOL Hisse Performans\u0131 (01.01.2025 \u2013 30.09.2025):<\/b>\n<ul>\n<li><b>En D\u00fc\u015f\u00fck:<\/b> 30,24 TL<\/li>\n<li><b>En Y\u00fcksek:<\/b> 57,75 TL<\/li>\n<li><b>Kapan\u0131\u015f (30.09.2025):<\/b> 45,38 TL<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<button class=\"simplefavorite-button\" data-postid=\"704\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>Bu belgeler, **Avrupa Yat\u0131r\u0131m Holding A.\u015e.**\u2019nin 2025 y\u0131l\u0131n\u0131n ilk dokuz ay\u0131na dair **konsolide finansal tablolar\u0131n\u0131** ve faaliyet raporu \u00f6zetlerini i\u00e7ermektedir. \u015eirketin **sa\u011fl\u0131k, telekom\u00fcnikasyon ve yat\u0131r\u0131m** gibi farkl\u0131 sekt\u00f6rlerdeki operasyonel sonu\u00e7lar\u0131, **enflasyon d\u00fczeltmesi** uygulanm\u0131\u015f verilerle detayl\u0131 bir \u015fekilde sunulmaktad\u0131r. Payla\u015f\u0131lan verilerde, holdingin **Borsa \u0130stanbul**\u2019daki hisse performans\u0131, d\u00f6nem k\u00e2r\u0131 ve **\u00f6zkaynak yap\u0131s\u0131** gibi temel ekonomik g\u00f6stergeler yer almaktad\u0131r. Ayr\u0131ca, grubun **stratejik ortakl\u0131klar\u0131**, yat\u0131r\u0131m ama\u00e7l\u0131 gayrimenkulleri ve uygulanan **muhasebe politikalar\u0131** hakk\u0131nda kapsaml\u0131 a\u00e7\u0131klamalar yap\u0131lmaktad\u0131r. Raporlar, \u015firketin finansal risk y\u00f6netimini ve raporlama d\u00f6neminden sonraki \u00f6nemli kurumsal geli\u015fmeleri de \u00f6zetlemektedir.<\/p>\n","protected":false},"author":1,"featured_media":730,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[172],"class_list":["post-704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-avhol"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/704","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=704"}],"version-history":[{"count":2,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/704\/revisions"}],"predecessor-version":[{"id":731,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/704\/revisions\/731"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media\/730"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media?parent=704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}