{"id":49328,"date":"2025-09-26T08:58:05","date_gmt":"2025-09-26T08:58:05","guid":{"rendered":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/2025\/09\/26\/vestel-elektronik-vestl-2025-2-ceyrek-bilanco-yorumu\/"},"modified":"2025-09-26T08:58:05","modified_gmt":"2025-09-26T08:58:05","slug":"vestel-elektronik-vestl-2025-2-ceyrek-bilanco-yorumu","status":"publish","type":"post","link":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/2025\/09\/26\/vestel-elektronik-vestl-2025-2-ceyrek-bilanco-yorumu\/","title":{"rendered":"Vestel Elektronik (VESTL)\u00a02025 2. \u00e7eyrek bilan\u00e7o yorumu"},"content":{"rendered":"<p><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\">Vestel Elektronik Sanayi ve Ticaret A.\u015e.\u00a0(VESTL)<\/span><\/span><\/span>\u00a0<\/span><\/span>2025 y\u0131l\u0131 2. \u00e7eyrek finansal sonu\u00e7lar\u0131 kamuya a\u00e7\u0131kland\u0131. Bilan\u00e7o sonras\u0131 \u015eirketin finansal tablolar\u0131 i\u00e7in de\u011ferlendirme, Deniz Yat\u0131r\u0131m Menkul K\u0131ymetler 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\/vestel.jpg\" alt=\"| Rota Borsa\" class=\"wp-image-58442\" title=\"2 kurum Ford Otomotiv (FROTO) i\u00e7in hedef fiyatlar\u0131n\u0131 a\u00e7\u0131klad\u0131 6 HABERLER, G\u00fcndemdekiler, \u015eirket Haberleri Rota Borsa\"><\/figure>\n<h2 class=\"wp-block-heading\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\"><span style=\"font-size: revert\">Vestel Elektronik Sanayi ve Ticaret A.\u015e.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span> hisse haberleri<\/h2>\n<p>Deniz Yat\u0131r\u0131m de\u011ferlendirmesi \u015fu \u015fekilde; \u201c<strong>De\u011ferlendirme:<\/strong> <em>Olumsuz<\/em>; Vestel Elektronik 2\u00c725\u2019te 34.614 milyon TL gelir (Konsensus: 37.251 milyon TL \/ Deniz Yat\u0131r\u0131m: 37.594 milyon TL), -536 milyon TL FAV\u00d6K (Konsensus: 2.200 milyon TL \/ Deniz Yat\u0131r\u0131m: 2.298 milyon TL) ve 7.259 milyon TL net zarar (Konsensus: 2.766 milyon TL net zarar \/ Deniz Yat\u0131r\u0131m: 3.885 milyon TL net zarar) a\u00e7\u0131klad\u0131. Enflasyon muhasebesi nedeniyle 2\u00c725 finansallar\u0131nda, parasal kazan\u00e7\/kay\u0131p kalemi alt\u0131nda 3.499 milyon TL\u2019lik olumlu etki olu\u015ftu.<br \/>\u25a0 Bilan\u00e7oda olumlu okudu\u011fumuz detaylar<br \/>\u2713 \u2013<br \/>\u25a0 Bilan\u00e7oda olumsuz okudu\u011fumuz detaylar<br \/>\u2713 Reel bazda daralma ve zay\u0131f karl\u0131l\u0131k, artan operasyonel giderler\/sat\u0131\u015f rasyosu, y\u00fcksek net finansman gideri y\u00fck\u00fc ve net zarar durumunun devam etmesi.<br \/>\u25a0 Bilan\u00e7oya dair k\u0131sa de\u011ferlendirmemiz<br \/>\u2192 Zay\u0131flaman\u0131n derinle\u015fti\u011fi 2\u00c725 finansallar\u0131n\u0131n hisse performans\u0131 \u00fczerinde olumsuz bir etki yarataca\u011f\u0131 d\u00fc\u015f\u00fcncesindeyiz.<br \/>\u25a0 6A25 d\u00f6neminde br\u00fct yurt i\u00e7i sat\u0131\u015f gelirleri ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re  azal\u0131\u015f, yurt d\u0131\u015f\u0131 sat\u0131\u015f gelirleri ise  oran\u0131nda azal\u0131\u015f g\u00f6stermi\u015ftir. Net sat\u0131\u015flar ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re TL baz\u0131nda  azal\u0131rken, adet baz\u0131nda ! azalm\u0131\u015ft\u0131r. 2\u00c725 d\u00f6neminde sat\u0131\u015f geliri  azalarak 34.614 milyon TL seviyesine gerilemi\u015ftir.<br \/>\u25a0 6A25 d\u00f6neminde toplam sat\u0131\u015flar\u0131n F\u2019s\u0131 Avrupa \u00fclkelerine, B\u2019si yurt i\u00e7ine, \u2019si ise di\u011fer \u00fclkelere yap\u0131lm\u0131\u015ft\u0131r.<br \/>\u25a0 2\u00c725\u2019te FAV\u00d6K -536 milyon TL seviyesinde ger\u00e7ekle\u015fmi\u015ftir.<br \/>\u25a0 \u015eirket, 2\u00c725\u2019te 7.259 milyon TL net zarar (1\u00c725: 5.382 milyon TL net zarar, 2\u00c724: 1.298 milyon TL net zarar) a\u00e7\u0131klad\u0131.<br \/>\u25a0 \u015eirket, 2\u00c725\u2019te 4.061 milyon TL seviyesinde esas faaliyetlerden net di\u011fer gider (2\u00c724: 2.207 milyon TL net gider), 4.275 milyon TL seviyesinde net finansman gideri (2\u00c724: 3.918 milyon TL net gider) ve 562 milyon TL vergi gideri (2\u00c724: 216 milyon TL gider) kaydetti.<br \/>\u25a0 Vestel Elektronik, \u00f6zkaynak y\u00f6ntemiyle de\u011ferlenen yat\u0131r\u0131mlardan da 1.080 milyon TL zarar (2\u00c724: 781 milyon TL zarar) yazm\u0131\u015ft\u0131r.<br \/>\u25a0 Haziran 2025 sonu itibariyle \u015eirket\u2019in 76.177 milyon TL net bor\u00e7 pozisyonu bulunmaktad\u0131r (Mart 2025 sonu: 71.277 milyon TL net bor\u00e7). Net bor\u00e7\/FAV\u00d6K oran\u0131 ise Haziran 2025 sonu itibariyle 24,8x seviyesindedir (Mart 2025 sonu: 9,1x).<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" loading=\"lazy\" width=\"969\" height=\"444\" src=\"https:\/\/rotaborsa.com\/wp-content\/uploads\/2025\/08\/DB87941A-F9D8-4CFE-9CD4-AB9394F9BD8F.png\" alt=\"| Rota Borsa\" class=\"wp-image-352110\" title=\"| Rota Borsa\" \/><\/figure>\n<p>\u25a0<strong> Genel de\u011ferlendirme:<\/strong> Finansallar\u0131n\u0131n ard\u0131ndan tahminlerimizde a\u015fa\u011f\u0131 y\u00f6nl\u00fc revizyona giderken, Grup\u2019un y\u00fcksek bor\u00e7luluk oranlar\u0131n\u0131 g\u00f6z \u00f6n\u00fcnde bulundurdu\u011fumuzda de\u011ferlemelerimizde baz ald\u0131\u011f\u0131m\u0131z hisse senedi risk primini (Erp) y\u00fckselttik. Di\u011fer yandan, daha uzun vadede ise otomotiv elektroni\u011fi ve elektrikli ara\u00e7 \u015farj cihazlar\u0131 gibi alanlar\u0131 i\u00e7eren mobilite taraf\u0131ndaki stratejiler ve b\u00fcy\u00fcme planlar\u0131n\u0131n ise takip edilmesi gerekti\u011fi d\u00fc\u015f\u00fcncesindeyiz. Hisse, y\u0131l ba\u015f\u0131ndan itibaren BIST 100 endeksinin 9 alt\u0131nda performans g\u00f6stermi\u015ftir. Geriye d\u00f6n\u00fck 12 ayl\u0131k verilere g\u00f6re hisse 10,8x FD\/FAV\u00d6K \u00e7arpan\u0131yla i\u015flem g\u00f6rmektedir.\u201d<\/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<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"891\" src=\"https:\/\/rotaborsa.com\/wp-content\/uploads\/2025\/08\/0F3204E5-44A1-4668-9AAE-210E25594506-1024x891.png\" alt=\"| Rota Borsa\" class=\"wp-image-352113\" title=\"| Rota Borsa\" \/><\/figure>\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-rota-borsa wp-block-embed-rota-borsa\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"GKsIpuXtsd\"><p><a href=\"https:\/\/rotaborsa.com\/erdemir-eregli-demir-celik-eregl-hisseleri-icin-temettu-tahmini-aciklandi\/\">Erdemir Ere\u011fli Demir \u00c7elik (EREGL) hisseleri i\u00e7in temett\u00fc tahmini a\u00e7\u0131kland\u0131<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\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<p><em><em><em><strong>Deniz Yat\u0131r\u0131m yasal uyar\u0131s\u0131:<\/strong><\/em> <em>Bu rapor\/e-posta i\u00e7erisinde yer alan de\u011ferlendirmeler Deniz Yat\u0131r\u0131m Menkul K\u0131ymetler A.\u015e. taraf\u0131ndan, g\u00fcvenilir oldu\u011funa inan\u0131lan kaynaklardan elde edilen bilgi ve veriler kullan\u0131larak genel nitelikte haz\u0131rlanm\u0131\u015ft\u0131r. Raporda yer alan ifadeler, mali durumunuz ile risk ve getiri tercihlerinize uygun olmayabilir ve hi\u00e7bir \u015fekilde al\u0131\u015f veya sat\u0131\u015f yap\u0131lmas\u0131 y\u00f6n\u00fcnde y\u00f6nlendirme olarak de\u011ferlendirilmemelidir. Deniz Yat\u0131r\u0131m, bu bilgilerin do\u011fru, eksiksiz ve de\u011fi\u015fmez oldu\u011funu garanti etmemektedir. Bu sebeple, okuyucular\u0131n, bu raporlardan elde edilen bilgilere dayanarak hareket etmeden \u00f6nce, bilgilerin do\u011frulu\u011funu teyit etmeleri \u00f6nerilir ve bu bilgilere dayan\u0131larak ald\u0131klar\u0131 kararlarda sorumluluk okuyucular\u0131n kendilerine aittir. Bilgilerin eksikli\u011fi ve yanl\u0131\u015fl\u0131\u011f\u0131ndan Deniz Yat\u0131r\u0131m hi\u00e7bir \u015fekilde sorumlu tutulamaz. Ayr\u0131ca, Deniz Yat\u0131r\u0131m ve DenizBank Finansal Hizmetler Grubu \u00e7al\u0131\u015fanlar\u0131 ve dan\u0131\u015fmanlar\u0131n\u0131n, herhangi bir \u015fekilde bu rapor\/e-posta i\u00e7erisinde yer alan bilgiler dolay\u0131s\u0131yla ortaya \u00e7\u0131kabilecek, do\u011frudan veya dolayl\u0131 zararlarla ilgili herhangi bir sorumlulu\u011fu yoktur. Burada yer alan bilgiler sermaye piyasas\u0131 arac\u0131na y\u00f6nelik bir yat\u0131r\u0131m tavsiyesi, al\u0131m-sat\u0131m \u00f6nerisi ya da getiri vaadi de\u011fildir ve yat\u0131r\u0131m dan\u0131\u015fmanl\u0131\u011f\u0131 kapsam\u0131nda yer almamaktad\u0131r. Yat\u0131r\u0131m Dan\u0131\u015fmanl\u0131\u011f\u0131 hizmeti; yetkili kurulu\u015flar taraf\u0131ndan imzalanacak yat\u0131r\u0131m dan\u0131\u015fmanl\u0131\u011f\u0131 s\u00f6zle\u015fmesi \u00e7er\u00e7evesinde ki\u015filerin risk ve getiri tercihleri dikkate al\u0131narak ki\u015fiye \u00f6zel sunulmaktad\u0131r. Sadece burada yer alan bilgilere dayan\u0131larak yat\u0131r\u0131m karar\u0131 verilmesi beklentilerinize uygun sonu\u00e7lar do\u011furmayabilir.<\/em><\/em><\/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","protected":false},"excerpt":{"rendered":"<p>Vestel Elektronik Sanayi ve Ticaret A.\u015e.\u00a0(VESTL)\u00a02025 y\u0131l\u0131 2. \u00e7eyrek finansal sonu\u00e7lar\u0131 kamuya a\u00e7\u0131kland\u0131. Bilan\u00e7o sonras\u0131 \u015eirketin finansal tablolar\u0131 i\u00e7in de\u011ferlendirme, Deniz Yat\u0131r\u0131m Menkul K\u0131ymetler A.\u015e.\u2019den geldi. Kurum de\u011ferlendirmesinde \u015fu ifadeleri kulland\u0131; Vestel Elektronik Sanayi ve Ticaret A.\u015e. hisse haberleri Deniz Yat\u0131r\u0131m de\u011ferlendirmesi \u015fu \u015fekilde; \u201cDe\u011ferlendirme: Olumsuz; Vestel Elektronik 2\u00c725\u2019te 34.614 milyon TL gelir (Konsensus: 37.251 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":49329,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-49328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilanco-haberleri"],"_links":{"self":[{"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/posts\/49328","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=49328"}],"version-history":[{"count":0,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/posts\/49328\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/media\/49329"}],"wp:attachment":[{"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/media?parent=49328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/categories?post=49328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/tags?post=49328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}