Marba\u015f Menkul De\u011ferler\u2019in 2025 y\u0131l\u0131 son \u00e7eyrek bilan\u00e7o beklentilerine y\u00f6nelik haz\u0131rlad\u0131\u011f\u0131 analizde; savunma sanayiinden otomotive, enerjiden perakendeye kadar geni\u015f bir yelpazede sekt\u00f6rel performanslar de\u011ferlendirildi. Muhasebesel d\u00fczeltmelerin net kar \u00fczerindeki olas\u0131 etkilerine dikkat \u00e7ekilen raporda \u015fu bilgiler verildi:<\/p>\n
“2025 y\u0131l\u0131 4. \u00c7eyrek sonu\u00e7lar\u0131n\u0131 inceledi\u011fimizde, y\u0131l\u0131n ikinci yar\u0131s\u0131 itibar\u0131yla g\u00f6zlenen kademeli toparlanman\u0131n devam etti\u011fi g\u00f6r\u00fclmektedir. Y\u0131l sonu etkisiyle baz\u0131 sekt\u00f6rlerde canlanmalar ya\u015fansa da genel anlamda \u00e7eyrek, y\u00fcksek bir performans sergilememi\u015ftir. Faiz indirim d\u00f6ng\u00fcs\u00fcn\u00fcn etkisiyle 4\u00c725\u2019te talep y\u00f6nl\u00fc toparlanmalar g\u00f6zlenmekle birlikte, net etkinin 2026 y\u0131l\u0131nda daha belirgin olaca\u011f\u0131n\u0131 \u00f6ng\u00f6r\u00fcyoruz.<\/p>\n
Sekt\u00f6rel bazda de\u011ferlendirdi\u011fimizde; Taahh\u00fct ve Savunma Sanayiinde son \u00e7eyrek etkisiyle g\u00fc\u00e7l\u00fc bilan\u00e7o sonu\u00e7lar\u0131 beklenmekte olup, ASELSAN \u00f6ne \u00e7\u0131kmaktad\u0131r. Perakende sekt\u00f6r\u00fcnde reel b\u00fcy\u00fcme devam etmekle birlikte, karl\u0131l\u0131k taraf\u0131nda muhasebesel etkilerden kaynaklanan bask\u0131lar nedeniyle net karl\u0131l\u0131kta s\u0131n\u0131rl\u0131 iyile\u015fme \u00f6ng\u00f6r\u00fclmektedir. Havac\u0131l\u0131k sekt\u00f6r\u00fcnde bilet fiyatlar\u0131ndaki a\u015fa\u011f\u0131 y\u00f6nl\u00fc e\u011filimin etkisiyle bask\u0131n\u0131n s\u00fcrece\u011fi tahmin edilmektedir. Demir-\u00e7elik sekt\u00f6r\u00fcnde ayr\u0131\u015fmalar g\u00f6zlenmekte olup, KRDMD ve KCAER\u2019in pozitif, EREGL\u2019in ise negatif performans sergilemesi beklenmektedir.<\/p>\n
Otomotiv sekt\u00f6r\u00fcnde TOASO i\u00e7in Stellantis etkisiyle inorganik b\u00fcy\u00fcme \u00f6ne \u00e7\u0131karken, TOASO i\u00e7in pozitif, FROTO i\u00e7in n\u00f6tr, TTRAK i\u00e7in ise T\u0130ER-3 hikayesi kaynakl\u0131 negatif sonu\u00e7lar \u00f6ng\u00f6r\u00fclmektedir. Enerji sekt\u00f6r\u00fcnde AKSEN i\u00e7in yat\u0131r\u0131m etkisiyle pozitif g\u00f6r\u00fc\u015f\u00fcm\u00fcz\u00fc korurken, di\u011fer enerji \u015firketlerinde \u00fcretim verilerinin paralel seyretmesi nedeniyle n\u00f6tr\/kar\u0131\u015f\u0131k g\u00f6r\u00fcn\u00fcm hakimdir. Mobilya sekt\u00f6r\u00fcnde genel g\u00f6r\u00fcn\u00fcm pozitif olup, YATAS i\u00e7in g\u00fc\u00e7l\u00fc sonu\u00e7lar beklenmektedir. Petrokimya ve sanayi grubunda ise zorlu piyasa ko\u015fullar\u0131n\u0131n devam etmesiyle PETKM i\u00e7in negatif ayr\u0131\u015fma \u00f6ng\u00f6r\u00fclmektedir.<\/p>\n
\u00d6zetle 4\u00c725\u2019i ge\u00e7i\u015f d\u00f6nemi olarak nitelendirirken, sekt\u00f6rel ayr\u0131\u015fmalar\u0131n oldu\u011funu g\u00f6rmekteyiz. VUK-TFRS fark\u0131ndan kaynakl\u0131 olarak ise net kar \u00fczerinde bask\u0131 olu\u015fturabilecek bir muhasebesel kar\u0131\u015f\u0131kl\u0131k sebebiyle net kar taraf\u0131nda sapmalar\u0131n fazlas\u0131yla olabilece\u011fini belirtmek isteriz.”<\/p>\n
\u00a0<\/p>\n
<\/strong> \u0130stanbul, 30 Ocak (Hibya) – Marba\u015f Menkul De\u011ferler, 2025 y\u0131l\u0131 d\u00f6rd\u00fcnc\u00fc \u00e7eyrek finansallar\u0131nda y\u0131l\u0131n ikinci yar\u0131s\u0131nda ba\u015flayan kademeli toparlanman\u0131n s\u00fcrd\u00fc\u011f\u00fcn\u00fc, ancak faiz indirim d\u00f6ng\u00fcs\u00fcn\u00fcn as\u0131l olumlu etkilerinin 2026 y\u0131l\u0131nda daha belirgin hissedilece\u011fini a\u00e7\u0131klad\u0131.<\/p>\n","protected":false},"author":1,"featured_media":40282,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAow07ekDA:productID":"","footnotes":""},"categories":[12,4,1],"tags":[],"class_list":["post-40281","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-spor","category-dunya","category-ekonomi"],"_links":{"self":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts\/40281","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/comments?post=40281"}],"version-history":[{"count":0,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts\/40281\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/media\/40282"}],"wp:attachment":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/media?parent=40281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/categories?post=40281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/tags?post=40281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nEKONOM\u0130 GAZETES\u0130 <\/p>\n","protected":false},"excerpt":{"rendered":"