{"id":49502,"date":"2025-09-05T12:09:13","date_gmt":"2025-09-05T12:09:13","guid":{"rendered":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/2025\/09\/05\/enerjisa-enjsa-2025-2-ceyrek-bilanco-yorumu\/"},"modified":"2025-09-05T12:09:13","modified_gmt":"2025-09-05T12:09:13","slug":"enerjisa-enjsa-2025-2-ceyrek-bilanco-yorumu","status":"publish","type":"post","link":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/2025\/09\/05\/enerjisa-enjsa-2025-2-ceyrek-bilanco-yorumu\/","title":{"rendered":"Enerjisa (ENJSA) 2025 2. \u00e7eyrek bilan\u00e7o yorumu"},"content":{"rendered":"

Enerjisa Enerji A.\u015e. (ENJSA) 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, Marba\u015f Menkul De\u011ferler A.\u015e.\u2019den geldi. Kurum de\u011ferlendirmesinde \u015fu ifadeleri kulland\u0131;<\/p>\n

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Enerjisa Enerji A.\u015e. hisse haberleri<\/h2>\n

Marba\u015f Menkul de\u011ferlendirmesi \u015fu \u015fekilde; \u201cGe\u00e7i\u015f d\u00f6nemi bilan\u00e7olar\u0131:<\/strong> ENJSA 2025 2.\u00e7eyrekte 46.88mlr TL has\u0131lat, 9.8 m TL FAV\u00d6K, 512 m TL Net Kar ile beklentilerin hafif a\u015fa\u011f\u0131s\u0131nda sonu\u00e7lar a\u00e7\u0131klad\u0131\u011f\u0131n\u0131 g\u00f6rmekteyiz.<\/p>\n

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Sat\u0131\u015flara bakt\u0131\u011f\u0131m\u0131z zaman<\/em> 2Q25\u2019de ge\u00e7ti\u011fimiz y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re %6\u2019l\u0131k daralma g\u00f6r\u00fcrken en b\u00fcy\u00fck daralman\u0131n ile perakende grubundan geldi\u011fini g\u00f6rmekteyiz. Da\u011f\u0131t\u0131m %7 daral\u0131rken m\u00fc\u015fteri \u00e7\u00f6z\u00fcmleri segmenti ge\u00e7ti\u011fimiz y\u0131la g\u00f6re baz etkisi kaynakl\u0131 g\u00fc\u00e7l\u00fc b\u00fcy\u00fcme g\u00f6stermi\u015ftir. Buna ek olarak da\u011f\u0131t\u0131m grubunda sat\u0131\u015flarda %7 daralma olmas\u0131na ra\u011fmen br\u00fct kar marj\u0131nda toparlanman\u0131n dikkat \u00e7ekti\u011fini g\u00f6rmekteyiz.
Operasyonel faaliyetlere bakt\u0131\u011f\u0131m\u0131zda<\/em> y\u0131l\u0131n ilk yar\u0131s\u0131nda ge\u00e7ti\u011fimiz y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re yat\u0131r\u0131m harcamalar\u0131nda %4.3 art\u0131\u015f meydana gelmi\u015ftir. Perakende grubunda ise d\u00fczenlemeye tabi segmentte %3 daralmayla 15.1 TWh olarak ger\u00e7ekle\u015firken, serbest segmentte %4\u2019l\u00fck art\u0131\u015fla 8 TWh olarak ger\u00e7ekle\u015fmi\u015ftir. GES toplam kurulu g\u00fcc\u00fcnde 124MW ile bir de\u011fi\u015fim meydana gelmezken \u015firket i\u00e7in \u00f6nemli kataliz\u00f6rlerden birisi oldu\u011funu d\u00fc\u015f\u00fcnd\u00fc\u011f\u00fcm\u00fcz EV \u015farj soketlerinde 1Q25\u2019deki g\u00fc\u00e7l\u00fc art\u0131\u015f\u0131n ard\u0131ndan baz etkisinden kaynakl\u0131 2Q25\u2019in g\u00f6rece zay\u0131f ge\u00e7ti\u011fini g\u00f6rmekteyiz. Enerji sekt\u00f6r\u00fcn\u00fcn reg\u00fclasyon yo\u011fun sekt\u00f6r oldu\u011funu varsayarsak operasyonel sonu\u00e7lara bakt\u0131\u011f\u0131m\u0131zda sat\u0131\u015f y\u0131l\u0131n ilk yar\u0131s\u0131nda sat\u0131\u015f hacmi azal\u0131rken br\u00fct kar marj\u0131n\u0131n artt\u0131\u011f\u0131n\u0131 g\u00f6rsek de PTF art\u0131\u015f g\u00f6stermeden istenilen karl\u0131l\u0131\u011fa eri\u015fimin gecikece\u011fini d\u00fc\u015f\u00fcnmekteyiz.
Karl\u0131l\u0131\u011fa bakt\u0131\u011f\u0131m\u0131z zaman<\/em> hem ge\u00e7ti\u011fimiz y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re hem de \u00e7eyreksel anlamda toparlanma g\u00f6rmekteyiz. Y\u0131l\u0131n ilk yar\u0131s\u0131nda zorlu ge\u00e7en makroekonomik ko\u015fullar\u0131 da g\u00f6z \u00f6n\u00fcnde bulundurursak son fiyat d\u00fczenlemesi, gider optimizasyonlar\u0131 ve verimlilikte art\u0131\u015fla birlikte marjlarda toparlanmay\u0131 net bir \u015fekilde g\u00f6rsek de piyasa beklentisinin hafif alt\u0131nda karl\u0131l\u0131k g\u00f6rmekteyiz.
Baz al\u0131nan Net Kar\u2019a bakt\u0131\u011f\u0131m\u0131zda<\/em> ise art\u0131\u015f\u0131n faiz y\u00f6netiminin etkili kullan\u0131lmas\u0131 ve daha d\u00fc\u015f\u00fck enflasyon etkisiyle enflasyon muhasebesinden kaynakl\u0131 net parasal pozisyon zarar\u0131 etkisinin azalmas\u0131 olu\u015fturmu\u015ftur.
Bor\u00e7lulu\u011fa bakt\u0131\u011f\u0131m\u0131z<\/em> \u00e7eyreksel anlamda finansal borcun azald\u0131\u011f\u0131n\u0131 g\u00f6r\u00fcrken net bor\u00e7 yatay seyretmi\u015ftir. \u015eirket 1.36x NetBor\u00e7\/FAVOK \u00e7arpanlar\u0131yla i\u015flem g\u00f6rmektedir. Bunlara ek olarak i\u015fletme faaliyetlerden kaynaklanan nakit ak\u0131\u015flar\u0131nda da toparlanmay\u0131 pozitif yorumlamaktay\u0131z.<\/p>\n

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Genel olarak bakt\u0131\u011f\u0131m\u0131zda<\/em> beklentinin hafif a\u015fa\u011f\u0131s\u0131nda sonu\u00e7lar\u0131 N\u00d6TR yorumlamaktay\u0131z. Y\u0131l\u0131n ikinci yar\u0131s\u0131nda faiz indirim patikas\u0131yla beraber karl\u0131l\u0131kta art\u0131\u015f beklemekteyiz. 2026\u2019da ba\u015flayacak yeni tarife d\u00f6neminde elektrik da\u011f\u0131t\u0131m \u015febekelerine yat\u0131r\u0131mlar\u0131 te\u015fvik eden politikalar\u0131n devam\u0131 beklenirken enerji yat\u0131r\u0131mlar\u0131n\u0131n h\u0131zlanmas\u0131n\u0131 beklemekteyiz. Sekt\u00f6rdeki di\u011fer enerji \u015firketlerinin de beklentisi ve iste\u011fi olan potansiyel PTF fiyat d\u00fczenlemesinin karl\u0131l\u0131k \u00fczerinde olumlu etkilerini de varsayarsak ENJSA\u2019y\u0131 defansif i\u015f modeli, \u00f6ng\u00f6r\u00fclebilir nakit ak\u0131\u015f\u0131 ve s\u00fcrd\u00fcr\u00fclebilir kar marjlar\u0131yla birlikte be\u011fenmeye devam ediyoruz.\u201d<\/p>\n

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Bir \u015firket y\u00fczde 900 oran\u0131nda bedelsiz sermaye art\u0131r\u0131m\u0131 ba\u015fvurusu yapt\u0131<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Bizi WhatsApp Kanal\u0131m\u0131z \u00fczerinden de takip edebilirsiniz. WhatsApp kanal\u0131 linki:\u00a0https:\/\/whatsapp.com\/channel\/0029Vb6J7JQ6GcG8uLrIR81x<\/mark><\/mark><\/a><\/p>\n

Bizi Telegram \u00dczerinden de takip edebilirsiniz. Telegram kanal\u0131 linki:\u00a0https:\/\/t.me\/rotaborsa_halkaarz<\/mark><\/mark><\/a><\/p>\n

Marba\u015f Menkul yasal uyar\u0131s\u0131:<\/strong> Burada yer alan bilgiler Marba\u015f Menkul De\u011ferler taraf\u0131ndan bilgilendirme amac\u0131yla haz\u0131rlanm\u0131\u015ft\u0131r. Yat\u0131r\u0131m sinyal,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 sinyal, yorum ve tavsiyeler, 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 ve sadece burada yer alan bilgilere ve sinyallere dayanarak yat\u0131r\u0131m karar\u0131 verilmesi beklentilerinize uygun sonu\u00e7lar do\u011furmayabilir. Burada yer alan sinyaller, fiyatlar, veriler ve bilgilerin tam ve do\u011fru oldu\u011fu garanti edilemez; i\u00e7erik, haber verilmeksizin de\u011fi\u015ftirilebilir. T\u00fcm sinyal ve veriler, Marba\u015f Menkul De\u011ferler taraf\u0131ndan g\u00fcvenilir oldu\u011funa inan\u0131lan kaynaklardan al\u0131nm\u0131\u015ft\u0131r. Bu sinyal ve kaynaklar\u0131n kullan\u0131lmas\u0131 nedeni ile ortaya \u00e7\u0131kabilecek hatalardan ve zararlardan Marba\u015f Menkul De\u011ferler sorumlu de\u011fildir.<\/em><\/em><\/em><\/em><\/em><\/p>\n

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":"

Enerjisa Enerji A.\u015e. (ENJSA) 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, Marba\u015f Menkul De\u011ferler A.\u015e.\u2019den geldi. Kurum de\u011ferlendirmesinde \u015fu ifadeleri kulland\u0131; Enerjisa Enerji A.\u015e. hisse haberleri Marba\u015f Menkul de\u011ferlendirmesi \u015fu \u015fekilde; \u201cGe\u00e7i\u015f d\u00f6nemi bilan\u00e7olar\u0131: ENJSA 2025 2.\u00e7eyrekte 46.88mlr TL has\u0131lat, 9.8 m TL FAV\u00d6K, 512 m TL […]<\/p>\n","protected":false},"author":1,"featured_media":49503,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-49502","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\/49502","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=49502"}],"version-history":[{"count":0,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/posts\/49502\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/media\/49503"}],"wp:attachment":[{"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/media?parent=49502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/categories?post=49502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/tags?post=49502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}