{"id":54040,"date":"2025-11-25T10:36:00","date_gmt":"2025-11-25T10:36:00","guid":{"rendered":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/2025\/11\/25\/kocaer-celik-kcaer-2025-3-ceyrek-bilanco-yorumu\/"},"modified":"2025-11-25T10:36:00","modified_gmt":"2025-11-25T10:36:00","slug":"kocaer-celik-kcaer-2025-3-ceyrek-bilanco-yorumu","status":"publish","type":"post","link":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/2025\/11\/25\/kocaer-celik-kcaer-2025-3-ceyrek-bilanco-yorumu\/","title":{"rendered":"Kocaer \u00c7elik (KCAER) 2025 3. \u00e7eyrek bilan\u00e7o yorumu"},"content":{"rendered":"<p>Kocaer \u00c7elik Sanayi ve Ticaret A.\u015e. (KCAER) 2025 y\u0131l\u0131 3. \u00e7eyrek finansal sonu\u00e7lar\u0131 kamuya a\u00e7\u0131kland\u0131. Bilan\u00e7o sonras\u0131 \u015eirketin finansal tablolar\u0131 i\u00e7in de\u011ferlendirme, Gedik 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\/2024\/09\/kcaer.jpg\" alt=\"| Rota Borsa\" class=\"wp-image-211436\" 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\">Kocaer \u00c7elik Sanayi ve Ticaret A.\u015e. hisse haberleri \u2013 KCAER hisse yorumu<\/h2>\n<p>Gedik Yat\u0131r\u0131m de\u011ferlendirmesi \u015fu \u015fekilde; \u201c\u015eirketin net sat\u0131\u015flar\u0131 3. \u00e7eyrekte ge\u00e7en y\u0131l\u0131n ayn\u0131 \u00e7eyre\u011fine g\u00f6re %0,01 art\u0131\u015fla 5.939 milyon TL olmu\u015ftur. 2025 y\u0131l\u0131n\u0131n ilk 9 ay\u0131nda net sat\u0131\u015flar\u0131 %1,03 azal\u0131\u015fla 17.243 milyon TL seviyesinde ger\u00e7ekle\u015fmi\u015ftir. FAV\u00d6K\u2018\u00fc 3. \u00e7eyrekte ge\u00e7en y\u0131l\u0131n ayn\u0131 \u00e7eyre\u011fine g\u00f6re  ,87 azal\u0131\u015fla 554 milyon TL olmu\u015ftur. 2025 y\u0131l\u0131n\u0131n ilk 9 ay\u0131nda bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re FAV\u00d6K\u2019\u00fc %0,52 azal\u0131\u015fla 2.182 milyon TL seviyesinde ger\u00e7ekle\u015fmi\u015ftir. FAV\u00d6K marj\u0131 3. \u00e7eyrekte ge\u00e7en y\u0131l\u0131n ayn\u0131 \u00e7eyre\u011fine g\u00f6re 246 baz puan azal\u0131\u015fla %9,3 olmu\u015ftur. 2025 y\u0131l\u0131n\u0131n ilk 9 ay\u0131nda bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re FAV\u00d6K marj\u0131 6 baz puan art\u0131\u015fla ,7 olmu\u015ftur. Ge\u00e7en y\u0131l\u0131n 3. \u00e7eyre\u011finde 205 milyon TL net zarar a\u00e7\u0131klayan \u015firket, bu y\u0131l\u0131n 3. \u00e7eyre\u011finde 27 milyon TL net kar a\u00e7\u0131klam\u0131\u015ft\u0131r. 2025 y\u0131l\u0131n\u0131n ilk 9 ay\u0131nda bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re net kar\u0131 604,28 art\u0131\u015fla 445 milyon TL seviyesinde ger\u00e7ekle\u015fmi\u015ftir.<br \/><strong><em>Sonu\u00e7: <\/em><\/strong>3\u00c725 operasyonel sonu\u00e7lar\u0131n\u0131 k\u00e2rl\u0131l\u0131ktaki belirgin d\u00fc\u015f\u00fc\u015f nedeniyle olumsuz de\u011ferlendiriyoruz. Katma de\u011ferli \u00fcr\u00fcn pay\u0131ndaki gerileme, ton ba\u015f\u0131na FAV\u00d6K\u2019\u00fc y\u0131ll\u0131k 6 ve \u00e7eyreklik C d\u00fc\u015f\u00fc\u015fle USD72 seviyesine \u00e7ekti. Enflasyona g\u00f6re d\u00fczeltilmi\u015f gelir 3\u00c725\u2019te TL5.939mn ile yatay kald\u0131 (kons: TL6.328mn; Gedik: TL6.823mn); sat\u0131\u015f hacmi y\u0131ll\u0131k ) (  \u00e7\/\u00e7) artarak 188 bin tona y\u00fckselmesine ra\u011fmen k\u00e2rl\u0131l\u0131k bask\u0131 alt\u0131nda kald\u0131. Katma de\u011ferli \u00fcr\u00fcn pay\u0131 9\u2019a geriledi (3\u00c724: E; 2024: B) ve zay\u0131f \u00e7elik piyasas\u0131 g\u00f6r\u00fcn\u00fcm\u00fc ile birle\u015fince marjlar\u0131 olumsuz etkiledi. Sat\u0131\u015flar\u0131n maliyeti y\u0131ll\u0131k %2, operasyonel giderler %8 artt\u0131. Sonu\u00e7 olarak Kocaer 554 milyon TL FAV\u00d6K a\u00e7\u0131klad\u0131 (kons.: TL855mn; Gedik: TL928mn) ve FAV\u00d6K marj\u0131 %9,3\u2019e geriledi (3\u00c724: ,8; 2024: ,6; 2023: ,4). Hat\u0131rlatmak gerekirse, Kocaer 2024\u2019\u00fc sat\u0131\u015f hacminde y\u0131ll\u0131k %3 art\u0131\u015f (580 bin ton) ancak FAV\u00d6K\u2019te 6 d\u00fc\u015f\u00fc\u015f (TL2,0 milyar) ve ,6 marj ile tamamlam\u0131\u015ft\u0131. 2025 i\u00e7in tahminimiz ~690 bin ton (9A25: 502 bin ton). Zay\u0131f 3\u00c7 sonu\u00e7lar\u0131n\u0131n ard\u0131ndan hissenin Mart ay\u0131ndan itibaren pozitif ayr\u0131\u015fmas\u0131n\u0131n bir k\u0131sm\u0131n\u0131 geri vermesi olas\u0131d\u0131r. Bununla birlikte, yenilenebilir enerji yat\u0131r\u0131mlar\u0131 ve katma de\u011ferli \u00fcr\u00fcn pay\u0131ndaki art\u0131\u015f ile desteklenen uzun vadeli b\u00fcy\u00fcme hik\u00e2yesi korunmakta olup, yukar\u0131 y\u00f6nl\u00fc potansiyel devam etmektedir. (NEGAT\u0130F)\u201d<\/p>\n<h2 class=\"wp-block-heading\">Bilan\u00e7o haberleri<\/h2>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"547\" src=\"https:\/\/rotaborsa.com\/wp-content\/uploads\/2025\/11\/090A0C33-1010-4325-97E2-23DE886D9B8F-1024x547.png\" alt=\"| Rota Borsa\" class=\"wp-image-380393\" 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=\"fd9vVfinnS\"><p><a href=\"https:\/\/rotaborsa.com\/sisecam-sise-hedef-fiyatlari-ve-teknik-analizi\/\">\u015ei\u015fecam (SISE) hedef fiyatlar\u0131 ve teknik analizi<\/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><br \/>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<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><em><strong>Kaynak: <\/strong>https:\/\/cdn.gedik.com\/media\/media\/fohfewhw\/3c25_finansal-degerlendirme_kcaer_20251105.pdf<\/em><\/p>\n<p>Raporun tamam\u0131n\u0131 PDF olarak g\u00f6r\u00fcnt\u00fclemek i\u00e7in a\u015fa\u011f\u0131daki dosyay\u0131 indirebilirsiniz.<\/p>\n<div data-wp-interactive=\"core\/file\" class=\"wp-block-file\"><object><\/object><a id=\"wp-block-file--media-1ba311dd-2adf-4189-8fe4-d10353943c27\" href=\"https:\/\/rotaborsa.com\/wp-content\/uploads\/2025\/11\/Integral-Yatirim-3C2025-1.pdf\">\u0130ntegral Yat\u0131r\u0131m 3\u00c72025<\/a><a href=\"https:\/\/rotaborsa.com\/wp-content\/uploads\/2025\/11\/Integral-Yatirim-3C2025-1.pdf\" class=\"wp-block-file__button wp-element-button\" aria-describedby=\"wp-block-file--media-1ba311dd-2adf-4189-8fe4-d10353943c27\" download>\u0130ndir<\/a><\/div>\n<p><em><em><em><em><em><em><strong>Gedik Yat\u0131r\u0131m yasal uyar\u0131s\u0131:<\/strong> Burada yer alan bilgiler Gedik Yat\u0131r\u0131m Menkul De\u011ferler A.\u015e. taraf\u0131ndan genel bilgilendirme amac\u0131 ile haz\u0131rlanm\u0131\u015ft\u0131r. 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, Gedik 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 Gedik Yat\u0131r\u0131m Menkul De\u011ferler A.\u015e. sorumlu de\u011fildir.<\/em><\/em><\/em><\/em><\/em><\/em><br \/><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>Kocaer \u00c7elik Sanayi ve Ticaret A.\u015e. (KCAER) 2025 y\u0131l\u0131 3. \u00e7eyrek finansal sonu\u00e7lar\u0131 kamuya a\u00e7\u0131kland\u0131. Bilan\u00e7o sonras\u0131 \u015eirketin finansal tablolar\u0131 i\u00e7in de\u011ferlendirme, Gedik Yat\u0131r\u0131m Menkul De\u011ferler A.\u015e.\u2019den geldi. Kurum de\u011ferlendirmesinde \u015fu ifadeleri kulland\u0131; Kocaer \u00c7elik Sanayi ve Ticaret A.\u015e. hisse haberleri \u2013 KCAER hisse yorumu Gedik Yat\u0131r\u0131m de\u011ferlendirmesi \u015fu \u015fekilde; \u201c\u015eirketin net sat\u0131\u015flar\u0131 3. \u00e7eyrekte [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":54041,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-54040","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\/54040","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=54040"}],"version-history":[{"count":0,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/posts\/54040\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/media\/54041"}],"wp:attachment":[{"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/media?parent=54040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/categories?post=54040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/tags?post=54040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}