{"id":33797,"date":"2025-11-13T07:00:10","date_gmt":"2025-11-13T07:00:10","guid":{"rendered":"https:\/\/kamucalisanlari.net\/?p=33797"},"modified":"2025-11-13T07:00:10","modified_gmt":"2025-11-13T07:00:10","slug":"koc-holding-ilk-ceyrek-bilancosunu-acikladi","status":"publish","type":"post","link":"https:\/\/kamucalisanlari.net\/index.php\/2025\/11\/13\/koc-holding-ilk-ceyrek-bilancosunu-acikladi\/","title":{"rendered":"Ko\u00e7 Holding ilk \u00e7eyrek bilan\u00e7osunu a\u00e7\u0131klad\u0131"},"content":{"rendered":"

BURCU KIRATLI\/BLOOMBERG HT ARA\u015eTIRMA ANAL\u0130ST\u0130<\/strong><\/p>\n

Ko\u00e7 Holding ilk \u00e7eyrek finansallar\u0131n\u0131 a\u00e7\u0131klad\u0131.<\/p>\n

Vergi \u00f6ncesi k\u00e2r 6.670 milyon TL olup, bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine k\u0131yasla y\u00fczde 42 oran\u0131nda azald\u0131. Net k\u00e2r ise -1.415 milyon TL seviyesinde ger\u00e7ekle\u015fti.<\/p>\n

Toplam varl\u0131klar y\u0131ll\u0131k y\u00fczde 2 azal\u0131\u015fla 4.209.252 milyon TL\u2019ye d\u00fc\u015ft\u00fc. Toplam \u00f6zkaynaklar 916.778 milyon TL, ana ortakl\u0131\u011fa ait \u00f6zkaynaklar ise 574.186 milyon TL olarak ger\u00e7ekle\u015fti.<\/p>\n

Konsolide net k\u00e2r da\u011f\u0131l\u0131m\u0131nda finans segmenti 4.106 milyon TL, di\u011fer segmentler 432 milyon TL ve enerji segmenti 206 milyon TL katk\u0131 sa\u011flad\u0131. Dayan\u0131kl\u0131 t\u00fcketim segmenti -2.524 milyon TL, otomotiv segmenti ise -6.372 milyon TL ile konsolide net k\u00e2r \u00fczerinde negatif etkide bulundu. Konsolide toplam ana ortakl\u0131k net k\u00e2r\u0131 ilk \u00e7eyrekte -1.415 milyon TL oldu.<\/p>\n

Ko\u00e7 Holding\u2019in 2025 y\u0131l\u0131 ilk \u00e7eyrek finansal verilerine g\u00f6re, toplam kombine gelirler 854,9 milyar TL olarak ger\u00e7ekle\u015fti ve ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re y\u00fczde 15 azald\u0131. Segment baz\u0131nda gelir da\u011f\u0131l\u0131m\u0131 enerji (%31), otomotiv (%28), finans (%22), dayan\u0131kl\u0131 t\u00fcketim (%15) ve di\u011fer (%5) \u015feklinde oldu.<\/p>\n

\n

Parasal kazan\u00e7\/kay\u0131p kalemi toplamda 1,9 milyar TL net kazan\u00e7 g\u00f6sterdi.<\/p>\n

Ko\u00e7 Holding bu d\u00f6nemde g\u00fc\u00e7l\u00fc ve dengeli portf\u00f6y yap\u0131s\u0131n\u0131 korudu.<\/p>\n

Net aktif de\u011feri i\u00e7inde otomotiv sekt\u00f6r\u00fc y\u00fczde 42 ile en b\u00fcy\u00fck paya sahipken, finans, enerji ve dayan\u0131kl\u0131 t\u00fcketim gibi farkl\u0131 alanlardaki varl\u0131klar\u0131 sayesinde holdingin sekt\u00f6rel \u00e7e\u015fitlili\u011fi dikkat \u00e7ekti.<\/p>\n

Yurtd\u0131\u015f\u0131 gelirlerin toplam gelir i\u00e7indeki pay\u0131 y\u00fczde 34\u2019e y\u00fckselirken, T\u00fcpra\u015f\u2019\u0131n d\u00f6viz bazl\u0131 gelirleri de dahil edildi\u011finde bu oran y\u00fczde 48\u2019e ula\u015ft\u0131. Holding, ihracattaki g\u00fc\u00e7l\u00fc konumunu koruyarak T\u00fcrkiye\u2019nin en b\u00fcy\u00fck ihracat\u00e7\u0131 grubu olmay\u0131 s\u00fcrd\u00fcrd\u00fc.<\/p>\n

Ko\u00e7 Holding 2025\u2019te temett\u00fc gelirlerinde g\u00fc\u00e7l\u00fc seyrini korudu.<\/p>\n

Y\u0131l\u0131n ilk d\u00f6neminde elde edilen 19,7 milyar TL\u2019lik temett\u00fc geliri, b\u00fcy\u00fck oranda d\u00f6viz veya d\u00f6vize endeksli \u015firketlerden sa\u011fland\u0131. T\u00fcpra\u015f, Ford Otosan ve Tofa\u015f en y\u00fcksek katk\u0131y\u0131 yapan i\u015ftirakler aras\u0131nda yer ald\u0131.<\/p>\n

Ko\u00e7 Holding\u2019in 2025 y\u0131l\u0131 temett\u00fc gelirleri, 2024 y\u0131l\u0131na k\u0131yasla belirgin bir d\u00fc\u015f\u00fc\u015f g\u00f6sterdi. 2024\u2019te 38,5 milyar TL olan toplam temett\u00fc geliri, 2025\u2019in ayn\u0131 d\u00f6neminde y\u00fczde 49 azalarak 19,7 milyar TL seviyesine geriledi.<\/p>\n<\/div>\n

\n

Bu gerilemede, \u00f6zellikle T\u00fcpra\u015f ve Yap\u0131 Kredi gibi y\u00fcksek katk\u0131 sa\u011flayan i\u015ftiraklerin 2025\u2019te daha s\u0131n\u0131rl\u0131 temett\u00fc da\u011f\u0131tmas\u0131 etkili oldu. Buna ra\u011fmen, temett\u00fc gelirlerinin b\u00fcy\u00fck b\u00f6l\u00fcm\u00fc yine d\u00f6viz veya d\u00f6vize endeksli \u015firketlerden elde edilerek kur riski a\u00e7\u0131s\u0131ndan dayan\u0131kl\u0131 bir yap\u0131 korundu.<\/p>\n

Ko\u00e7 Holding, 2025 ilk \u00e7eyrek itibar\u0131yla g\u00fc\u00e7l\u00fc likidite ve dayan\u0131kl\u0131 bilan\u00e7o yap\u0131s\u0131n\u0131 korudu.<\/p>\n

31 Mart 2025 itibar\u0131yla solo net nakit pozisyonu 39,7 milyar TL\u2019ye ula\u015f\u0131rken, d\u00fczeltilmi\u015f net nakit seviyesi 32,1 milyar TL (yakla\u015f\u0131k 835 milyon dolar) olarak ger\u00e7ekle\u015fti. Bu, y\u0131lba\u015f\u0131na g\u00f6re \u00f6nemli bir art\u0131\u015f\u0131 i\u015faret ediyor.<\/p>\n

Mart ve Nisan aylar\u0131nda elde edilen temett\u00fc gelirleri, Nisan\u2019daki temett\u00fc \u00f6demelerine ra\u011fmen net nakit dengesini destekledi. B\u00f6ylece Holding\u2019in net nakit pozisyonu \u00e7eyrek sonunda 1,05 milyar dolar seviyesine \u00e7\u0131kt\u0131.<\/p>\n

Ko\u00e7 Holding\u2019in 2025 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011fi itibar\u0131yla solo net nakit pozisyonu 1,05 milyar dolar seviyesinde. Nakit varl\u0131klar\u0131n\u0131n d\u00f6viz kompozisyonu incelendi\u011finde, y\u00fczde 58\u2019i yabanc\u0131 para, y\u00fczde 42\u2019si T\u00fcrk liras\u0131 cinsinde. Kombine cari oran 1,22x olarak ger\u00e7ekle\u015fti, bu da k\u0131sa vadeli varl\u0131klar\u0131n y\u00fck\u00fcml\u00fcl\u00fcklere oran\u0131n\u0131 g\u00f6steriyor.<\/p>\n<\/div>\n

\n

Bor\u00e7luluk taraf\u0131nda, kombine net finansal borcun FAV\u00d6K\u2019e oran\u0131 1,3x seviyesinde. Yabanc\u0131 para pozisyonu a\u00e7\u0131s\u0131ndan ise, solo net yabanc\u0131 para pozisyonu 605 milyon dolar fazla vermektedir. Do\u011fal koruma (hedge) sonras\u0131 konsolide net yabanc\u0131 para pozisyonu 150 milyon dolar, etkinlik oran\u0131na g\u00f6re a\u011f\u0131rl\u0131kland\u0131r\u0131lm\u0131\u015f hedge sonras\u0131 konsolide net pozisyon ise 293 milyon dolar seviyesinde.<\/p>\n<\/div>\n<\/p>\n

<\/p>\n

Kaynak :\u00a0https:\/\/www.bloomberght.com\/koc-holding-ilk-ceyrek-bilancosunu-acikladi-3747533<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Ko\u00e7 Holding’in 2025 y\u0131l\u0131 ilk \u00e7eyre\u011finde konsolide gelirleri 538.320 milyon TL olarak ger\u00e7ekle\u015fti ve 2024 y\u0131l\u0131n\u0131n ayn\u0131 d\u00f6nemine g\u00f6re y\u00fczde 13 azald\u0131.<\/p>\n","protected":false},"author":1,"featured_media":33798,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[720,2485,234,1034,2254],"manset":[],"class_list":["post-33797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ekonomi","tag-720","tag-koc-holding","tag-net","tag-seviyesi","tag-temettu"],"_links":{"self":[{"href":"https:\/\/kamucalisanlari.net\/index.php\/wp-json\/wp\/v2\/posts\/33797","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kamucalisanlari.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kamucalisanlari.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kamucalisanlari.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kamucalisanlari.net\/index.php\/wp-json\/wp\/v2\/comments?post=33797"}],"version-history":[{"count":1,"href":"https:\/\/kamucalisanlari.net\/index.php\/wp-json\/wp\/v2\/posts\/33797\/revisions"}],"predecessor-version":[{"id":33799,"href":"https:\/\/kamucalisanlari.net\/index.php\/wp-json\/wp\/v2\/posts\/33797\/revisions\/33799"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kamucalisanlari.net\/index.php\/wp-json\/wp\/v2\/media\/33798"}],"wp:attachment":[{"href":"https:\/\/kamucalisanlari.net\/index.php\/wp-json\/wp\/v2\/media?parent=33797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kamucalisanlari.net\/index.php\/wp-json\/wp\/v2\/categories?post=33797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kamucalisanlari.net\/index.php\/wp-json\/wp\/v2\/tags?post=33797"},{"taxonomy":"manset","embeddable":true,"href":"https:\/\/kamucalisanlari.net\/index.php\/wp-json\/wp\/v2\/manset?post=33797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}