{"id":45194,"date":"2025-06-10T13:58:07","date_gmt":"2025-06-10T13:58:07","guid":{"rendered":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/2025\/06\/10\/turk-telekom-ttkom-2025-1-ceyrek-bilanco-yorumu\/"},"modified":"2025-06-10T13:58:07","modified_gmt":"2025-06-10T13:58:07","slug":"turk-telekom-ttkom-2025-1-ceyrek-bilanco-yorumu","status":"publish","type":"post","link":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/2025\/06\/10\/turk-telekom-ttkom-2025-1-ceyrek-bilanco-yorumu\/","title":{"rendered":"T\u00fcrk Telekom (TTKOM) 2025 1. \u00e7eyrek bilan\u00e7o yorumu"},"content":{"rendered":"<p>T\u00fcrk Telekom\u00fcnikasyon A.\u015e.\u00a0(TTKOM) 2025 y\u0131l\u0131 1. \u00e7eyrek finansal sonu\u00e7lar\u0131 kamuya a\u00e7\u0131kland\u0131. Bilan\u00e7o sonras\u0131 \u015eirketin finansal tablolar\u0131 i\u00e7in de\u011ferlendirme, \u0130\u015f Yat\u0131r\u0131m Menkul De\u011ferler A.\u015e.\u2019den geldi. Kurum de\u011ferlendirmesinde \u015fu ifadeleri kulland\u0131;<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" loading=\"lazy\" width=\"1280\" height=\"720\" src=\"https:\/\/rotaborsa.com\/wp-content\/uploads\/2023\/09\/ttkom.jpg\" alt=\"| Rota Borsa\" class=\"wp-image-58448\" title=\"T\u00fcrk Hava Yollar\u0131 (THYAO) 2023 hedef fiyat\u0131 9 HABERLER, G\u00fcndemdekiler, \u015eirket Haberleri Rota Borsa\"><\/figure>\n<h2 class=\"wp-block-heading\">T\u00fcrk Telekom\u00fcnikasyon A.\u015e. hisse haberleri<\/h2>\n<p>Buna g\u00f6re \u0130\u015f Yat\u0131r\u0131m de\u011ferlendirmesi \u015fu \u015fekilde; \u201c<strong>\u27a2 Ger\u00e7ekle\u015fen ve Tahminler:<\/strong> <em>Beklentilerin olduk\u00e7a \u00fczerinde gelen net k\u00e2rda amortisman ve finansman giderlerinin d\u00fc\u015f\u00fck kalmas\u0131 etkili oldu\u2026<\/em> T\u00fcrk Telekom, 1\u00c725\u2019te E y\u0131ll\u0131k art\u0131\u015fla 5,1 milyar TL net k\u00e2r a\u00e7\u0131klad\u0131 ve piyasa beklentilerinin olduk\u00e7a \u00fczerinde performans g\u00f6sterdi. Bu pozitif sapmada, beklenenden d\u00fc\u015f\u00fck ger\u00e7ekle\u015fen amortisman giderleri ve net finansal giderler etkili oldu (\u0130\u015f Yat\u0131r\u0131m tahmini: 3,26 milyar TL; piyasa konsens\u00fcs\u00fc: 3,26 milyar TL). 1\u00c725\u2019te efektif vergi oran\u0131 A olarak ger\u00e7ekle\u015fti (1\u00c724: P). Bu oran, enflasyon muhasebesi kapsam\u0131nda ge\u00e7en y\u0131l\u0131n vergi varl\u0131klar\u0131n\u0131n 1\u00c725\u2019e endekslenmesi ve \u00dcFE ile T\u00dcFE aras\u0131ndaki fark nedeniyle ola\u011fan kurumlar vergisi oran\u0131ndan sapma g\u00f6sterdi. Y\u00fcksek vergi giderinin k\u0131sa vadeli nakit ak\u0131mlar\u0131 \u00fczerinde s\u0131n\u0131rl\u0131 etkisi bulunuyor. Net finansal giderler ise, d\u00f6viz ve hedge maliyetlerinin daha s\u0131n\u0131rl\u0131 etkisiyle, y\u0131ll\u0131k bazda ),3 azald\u0131. \u015eirket, hedge maliyetlerinin finansal piyasalardaki son dalgalanma nedeniyle bir miktar artt\u0131\u011f\u0131n\u0131 ve bunun 2\u00c725\u2019te daha g\u00f6r\u00fcn\u00fcr olaca\u011f\u0131n\u0131 belirtti.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" loading=\"lazy\" width=\"926\" height=\"686\" src=\"https:\/\/rotaborsa.com\/wp-content\/uploads\/2025\/05\/A3DD6C0B-923D-44DC-A648-E61432260DF4.png\" alt=\"| Rota Borsa\" class=\"wp-image-318214\" title=\"| Rota Borsa\" \/><\/figure>\n<p><strong>\u27a2 Son \u00c7eyrekte \u00d6ne \u00c7\u0131kanlar: <\/strong><em>Sabit geni\u015fbant segmenti \u00f6nc\u00fcl\u00fc\u011f\u00fcnde g\u00fc\u00e7l\u00fc FAV\u00d6K performans\u0131\u2026<\/em> Beklentilerin biraz \u00fczerinde ger\u00e7ekle\u015fen konsolide gelirler, y\u0131ll\u0131k ,3 art\u0131\u015fla 1\u00c725\u2019te 45,6 milyar TL\u2019ye ula\u015ft\u0131. Sabit geni\u015fbant ve mobil gelirler s\u0131ras\u0131yla ! ve $ y\u0131ll\u0131k art\u0131\u015f g\u00f6sterdi. Her iki segmentte de y\u0131ll\u0131k yakla\u015f\u0131k  ARPU (abone ba\u015f\u0131 ortalama gelir) b\u00fcy\u00fcmesi kaydedildi. Kurumsal veri ve ekipman sat\u0131\u015flar\u0131 da y\u0131ll\u0131k 0 b\u00fcy\u00fcme ile toplam sat\u0131\u015flara katk\u0131 sa\u011flad\u0131. Mobil segment g\u00fc\u00e7l\u00fc bir \u00e7eyrek ge\u00e7irdi; net bazda 511 bin ( %6,3 y\u0131ll\u0131k) yeni abone kazand\u0131, bu art\u0131\u015f\u0131n 593 bini ( ,3 y\u0131ll\u0131k) fatural\u0131 segmentten geldi. Sabit geni\u015fbant abone taban\u0131 ise 53 bin net yeni aboneyle yatay kald\u0131. Piyasa beklentisini %3 oran\u0131nda a\u015farak, konsolide FAV\u00d6K 1\u00c725\u2019te y\u0131ll\u0131k &amp;,5 art\u0131\u015fla 17,9 milyar TL\u2019ye ula\u015ft\u0131 ve FAV\u00d6K marj\u0131 9,3\u2019e y\u00fckseldi ( 2,5 puan y\u0131ll\u0131k). Bu iyile\u015fme, g\u00fc\u00e7l\u00fc gelir b\u00fcy\u00fcmesi, s\u0131k\u0131 operasyonel gider kontrol\u00fc ve operasyonel kald\u0131ra\u00e7ta s\u00fcregelen iyile\u015fmeden kaynakland\u0131.<\/p>\n<div class=\"kanews-banner kanews-banner-single\">\n<div style=\"min-height:280px\" data-empower-zone=\"159899\" class=\"empower-ad\"><\/div>\n<\/div>\n<p><strong>\u27a2 Finansal kald\u0131ra\u00e7ta d\u00fc\u015f\u00fc\u015f: <\/strong>\u015eirket, d\u00f6vizden TL\u2019ye yap\u0131lan para swaplar\u0131 ve Kur Korumal\u0131 Mevduatlar\u0131n ger\u00e7e\u011fe uygun de\u011fer etkisi dahil edildi\u011finde net borcun 1\u00c725 itibar\u0131yla 54,4 milyar TL\u2019ye d\u00fc\u015ft\u00fc\u011f\u00fcn\u00fc a\u00e7\u0131klad\u0131 (1\u00c724: 64,7 milyar TL). IFRS 16 etkisi hari\u00e7 tutuldu\u011funda, net bor\u00e7 1\u00c725 itibar\u0131yla 48,9 milyar TL olarak ger\u00e7ekle\u015fti. IFRS 16 etkisi hari\u00e7 d\u00f6viz bazl\u0131 finansal bor\u00e7lar hem \u00e7eyreklik hem y\u0131ll\u0131k bazda d\u00fc\u015f\u00fc\u015f g\u00f6steri (4\u00c724: 1,6 milyar USD, 1\u00c724: 1,9 milyar USD).<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"197\" src=\"https:\/\/rotaborsa.com\/wp-content\/uploads\/2025\/05\/A93102D3-5044-4BA5-B09C-FB86852841A0-1024x197.png\" alt=\"| Rota Borsa\" class=\"wp-image-318215\" title=\"| Rota Borsa\" \/><\/figure>\n<p><strong>\u27a2 De\u011ferleme \u00fczerindeki etki ve g\u00f6r\u00fcn\u00fcm: <\/strong><em>2025 \u00f6rg\u00f6r\u00fcleri korundu; yukar\u0131 y\u00f6nl\u00fc potansiyel mevcut\u2026<\/em> \u015eirket y\u00f6netimi, 2025 y\u0131l\u0131 i\u00e7in; i) %7-9 reel gelir b\u00fcy\u00fcmesi, ii) 8-40 FAV\u00d6K marj\u0131 (2024: 9,4) ve, iii) (-29 yat\u0131r\u0131m harcamas\u0131\/sat\u0131\u015f oran\u0131 (2024: %,7) beklemektedir. 2025 reel b\u00fcy\u00fcme beklentisi, y\u0131l sonunda orta-y\u00fcksek yirmili seviyelerde bir enflasyon varsay\u0131m\u0131na dayanmaktad\u0131r. Yat\u0131r\u0131m harcamas\u0131 tahminleri, potansiyel g\u00fcne\u015f enerjisi yat\u0131r\u0131mlar\u0131, 5G ihalesi, lisans yenilemeleri ve di\u011fer lisans \u00fccretlerini i\u00e7ermemektedir. Y\u00f6netim, 1\u00c725 sonu\u00e7lar\u0131n\u0131n \u00f6zellikle marj a\u00e7\u0131s\u0131ndan y\u0131l sonu hedefleri i\u00e7in yukar\u0131 y\u00f6nl\u00fc risk bar\u0131nd\u0131rd\u0131\u011f\u0131n\u0131 d\u00fc\u015f\u00fcnmekle birlikte, olas\u0131 bir revizyon \u00f6ncesi 2\u00c725 performans\u0131 ve makroekonomik ortam\u0131 g\u00f6zlemlemeyi tercih etmektedir. 2\u00c725\u2019te hedef revizyonu olas\u0131 g\u00f6r\u00fcnmektedir.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"204\" src=\"https:\/\/rotaborsa.com\/wp-content\/uploads\/2025\/05\/C1ED4E79-37F8-4529-B698-5A554D86F312-1024x204.png\" alt=\"| Rota Borsa\" class=\"wp-image-318216\" title=\"| Rota Borsa\" \/><\/figure>\n<p><strong>\u27a2 Yorum:<\/strong> G\u00fc\u00e7l\u00fc net k\u00e2r ve operasyonel performansa piyasan\u0131n hafif olumlu tepki vermesini bekliyoruz. Ancak sabit hat lisans yenilemesi ve 5G ihalesinin \u015fartlar\u0131, de\u011ferlememiz a\u00e7\u0131s\u0131ndan \u00e7eyreklik sonu\u00e7lardan \u00e7ok daha \u00f6nemli. \u015eirket y\u00f6netimi ve d\u00fczenleyici kurumlar\u0131n a\u00e7\u0131klamalar\u0131na g\u00f6re bu konular\u0131n yak\u0131n d\u00f6nemde netle\u015fmesi beklendi\u011finden, bu geli\u015fmeler sonras\u0131 tahminlerimizi g\u00f6zden ge\u00e7irmemiz olas\u0131.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"341\" src=\"https:\/\/rotaborsa.com\/wp-content\/uploads\/2025\/05\/AABCFC7B-9CF2-4A2F-B3DF-8DD8D2D6CD2B-1024x341.png\" alt=\"| Rota Borsa\" class=\"wp-image-318217\" title=\"| Rota Borsa\" \/><\/figure>\n<p><em><strong>\u0130\u015f Yat\u0131r\u0131m yasal uyar\u0131s\u0131: <\/strong>Burada yer alan bilgiler \u0130\u015f Yat\u0131r\u0131m Menkul De\u011ferler A.\u015e. taraf\u0131ndan bilgilendirme amac\u0131 ile haz\u0131rlanm\u0131\u015ft\u0131r. Yat\u0131r\u0131m bilgi, yorum ve tavsiyeleri yat\u0131r\u0131m dan\u0131\u015fmanl\u0131\u011f\u0131 kapsam\u0131nda de\u011fildir. Yat\u0131r\u0131m dan\u0131\u015fmanl\u0131\u011f\u0131 hizmeti; arac\u0131 kurumlar, portf\u00f6y y\u00f6netim \u015firketleri, mevduat kabul etmeyen bankalar ile m\u00fc\u015fteri aras\u0131nda imzalanacak yat\u0131r\u0131m dan\u0131\u015fmanl\u0131\u011f\u0131 s\u00f6zle\u015fmesi \u00e7er\u00e7evesinde sunulmaktad\u0131r. Burada yer alan yorum ve tavsiyeler, yorum ve tavsiyede bulunanlar\u0131n ki\u015fisel g\u00f6r\u00fc\u015flerine dayanmaktad\u0131r. Herhangi bir yat\u0131r\u0131m arac\u0131n\u0131n al\u0131m-sat\u0131m \u00f6nerisi ya da getiri vaadi olarak yorumlanmamal\u0131d\u0131r. Bu g\u00f6r\u00fc\u015fler mali durumunuz ile risk ve getiri tercihlerinize uygun olmayabilir. Bu nedenle, sadece burada yer alan bilgilere dayanarak yat\u0131r\u0131m karar\u0131 verilmesi beklentilerinize uygun sonu\u00e7lar do\u011furmayabilir. Burada yer alan fiyatlar, veriler ve bilgilerin tam ve do\u011fru oldu\u011fu garanti edilemez; i\u00e7erik, haber verilmeksizin de\u011fi\u015ftirilebilir. T\u00fcm veriler, \u0130\u015f Yat\u0131r\u0131m Menkul De\u011ferler A.\u015e. taraf\u0131ndan g\u00fcvenilir oldu\u011funa inan\u0131lan kaynaklardan al\u0131nm\u0131\u015ft\u0131r. Bu kaynaklar\u0131n kullan\u0131lmas\u0131 nedeni ile ortaya \u00e7\u0131kabilecek hatalardan \u0130\u015f Yat\u0131r\u0131m Menkul De\u011ferler A.\u015e. sorumlu de\u011fildir. Bu i\u00e7eri\u011fe ili\u015fkin t\u00fcm telif haklar\u0131 \u0130\u015f Yat\u0131r\u0131m Menkul De\u011ferler A.\u015e.\u2019ye aittir. Bu i\u00e7erik, a\u00e7\u0131k iznimiz olmaks\u0131z\u0131n ba\u015fkalar\u0131 taraf\u0131ndan herhangi bir ama\u00e7la, k\u0131smen veya tamamen \u00e7o\u011falt\u0131lamaz, da\u011f\u0131t\u0131lamaz, yay\u0131mlanamaz veya de\u011fi\u015ftirilemez.<\/em><\/p>\n<p><em><strong>Rota Borsa yasal uyar\u0131s\u0131:<\/strong> Burada yer alan yat\u0131r\u0131m bilgi, yorum ve tavsiyeleri yat\u0131r\u0131m dan\u0131\u015fmanl\u0131\u011f\u0131 kapsam\u0131nda de\u011fildir. Yat\u0131r\u0131m dan\u0131\u015fmanl\u0131\u011f\u0131 hizmeti, arac\u0131 kurumlar, portf\u00f6y y\u00f6netim \u015firketleri, mevduat kabul etmeyen bankalar ile m\u00fc\u015fteri aras\u0131nda imzalanacak yat\u0131r\u0131m dan\u0131\u015fmanl\u0131\u011f\u0131 s\u00f6zle\u015fmesi \u00e7er\u00e7evesinde sunulmaktad\u0131r. Burada yer alan yorum ve tavsiyeler, yorum ve tavsiyede bulunanlar\u0131n ki\u015fisel g\u00f6r\u00fc\u015flerine dayanmaktad\u0131r. Bu g\u00f6r\u00fc\u015fler, mali durumunuz ile risk ve getiri tercihlerinize uygun olmayabilir. Bu nedenle sadece burada yer alan bilgilere dayan\u0131larak yat\u0131r\u0131m karar\u0131 verilmesi beklentilerinize uygun sonu\u00e7lar do\u011furmayabilir.<\/em><\/p>\n<p>Bizi WhatsApp Kanal\u0131m\u0131z \u00fczerinden de takip edebilirsiniz. WhatsApp kanal\u0131 linki:\u00a0<a href=\"https:\/\/whatsapp.com\/channel\/0029Vb6J7JQ6GcG8uLrIR81x\" target=\"_blank\" rel=\"noreferrer noopener\"><mark><mark style=\"background-color:#ffffff;color:#01b673\" class=\"has-inline-color\">https:\/\/whatsapp.com\/channel\/0029Vb6J7JQ6GcG8uLrIR81x<\/mark><\/mark><\/a><\/p>\n<p>Bizi Telegram \u00dczerinden de takip edebilirsiniz. Telegram kanal\u0131 linki:\u00a0<a href=\"https:\/\/t.me\/rotaborsa_halkaarz\" target=\"_blank\" rel=\"noreferrer noopener\"><mark><mark style=\"background-color:#ffffff\" class=\"has-inline-color has-vivid-red-color\">https:\/\/t.me\/rotaborsa_halkaarz<\/mark><\/mark><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>T\u00fcrk Telekom\u00fcnikasyon A.\u015e.\u00a0(TTKOM) 2025 y\u0131l\u0131 1. \u00e7eyrek finansal sonu\u00e7lar\u0131 kamuya a\u00e7\u0131kland\u0131. Bilan\u00e7o sonras\u0131 \u015eirketin finansal tablolar\u0131 i\u00e7in de\u011ferlendirme, \u0130\u015f Yat\u0131r\u0131m Menkul De\u011ferler A.\u015e.\u2019den geldi. Kurum de\u011ferlendirmesinde \u015fu ifadeleri kulland\u0131; T\u00fcrk Telekom\u00fcnikasyon A.\u015e. hisse haberleri Buna g\u00f6re \u0130\u015f Yat\u0131r\u0131m de\u011ferlendirmesi \u015fu \u015fekilde; \u201c\u27a2 Ger\u00e7ekle\u015fen ve Tahminler: Beklentilerin olduk\u00e7a \u00fczerinde gelen net k\u00e2rda amortisman ve finansman giderlerinin [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":45195,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-45194","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-borsa-haberleri"],"_links":{"self":[{"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/posts\/45194","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/comments?post=45194"}],"version-history":[{"count":0,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/posts\/45194\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/media\/45195"}],"wp:attachment":[{"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/media?parent=45194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/categories?post=45194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/tags?post=45194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}