{"id":3267,"date":"2025-05-09T20:50:14","date_gmt":"2025-05-09T17:50:14","guid":{"rendered":"https:\/\/baytutumlu.com\/?p=3267"},"modified":"2025-05-29T21:33:02","modified_gmt":"2025-05-29T18:33:02","slug":"ford-otosan-2025-1-ceyrek-bilanco-analizi","status":"publish","type":"post","link":"https:\/\/baytutumlu.com\/index.php\/2025\/05\/09\/ford-otosan-2025-1-ceyrek-bilanco-analizi\/","title":{"rendered":"Ford Otosan 2025 1. \u00c7eyrek Bilan\u00e7o Analizi"},"content":{"rendered":"\n

Herkese selamlar. 2025 1. \u00c7eyrek bilan\u00e7o analizlerine FROTO ile devam ediyorum. Ford portf\u00f6y\u00fcmde ciddi bir a\u011f\u0131rl\u0131\u011fa sahip ve yak\u0131ndan takip etti\u011fim bir \u015firket. \u00d6ncelikle ilk \u00e7eyrek faaliyet verileriyle ba\u015flayal\u0131m.<\/p>\n\n\n\n

Faaliyet Rakamlar\u0131<\/strong><\/p>\n\n\n\n

\u0130lk \u00e7eyrekte T\u00fcrk otomotiv pazar\u0131 %7 daral\u0131rken en b\u00fcy\u00fck d\u00fc\u015f\u00fc\u015f a\u011f\u0131r vas\u0131talar taraf\u0131nda ger\u00e7ekle\u015fti(%25) Ford Otosan ise daha diren\u00e7li durarak ve pazar pay\u0131n\u0131 art\u0131rarak %3 sat\u0131\u015f daralmas\u0131 ya\u015fad\u0131.Toplam pazarda \u015firket 3. S\u0131radan 2. S\u0131raya y\u00fckseldi. T\u00fcm segmentlerde kapasite kullan\u0131m oran\u0131 %71 oldu. <\/p>\n\n\n\n

\u0130hracat taraf\u0131na bakt\u0131\u011f\u0131m\u0131zda ise Avrupa\u2019da toplam pazar %2 civar\u0131nda daral\u0131rken Ford Otosan\u2019\u0131n en b\u00fcy\u00fck pazar\u0131 olan \u0130ngiltere %10 daralma g\u00f6sterdi. \u015e\u0130rketin yurt d\u0131\u015f\u0131 sat\u0131\u015f adetleri %4 azalarak 140 bin oldu. Bu d\u00f6nemde Ford %19.3\u2019l\u00fck pazar pay\u0131yla liderli\u011fini s\u00fcrd\u00fcrd\u00fc. <\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

Genel olarak bakt\u0131\u011f\u0131m\u0131zda daralan otomotiv pazar\u0131na ve artan rekabete kar\u015f\u0131n \u015firket sat\u0131\u015flar\u0131n\u0131 ve kapasite kullan\u0131m oran\u0131n\u0131 nispeten y\u00fcksek tutmay\u0131 ba\u015fard\u0131. Bunu da marjlardan bir miktar feragat ederek ger\u00e7ekle\u015ftirdi. Buraya birazdan de\u011finece\u011fim.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

Gelir Tablosu ve Marjlar<\/strong><\/p>\n\n\n\n

\u0130lk \u00e7eyrekte yukar\u0131da da belirtti\u011fim gibi rekabet\u00e7i fiyatland\u0131rma ortam\u0131, Avrupa\u2019da talep azl\u0131\u011f\u0131 ve yeni Puma ve E-Courier\u2019\u0131n \u00fcretime ge\u00e7i\u015f d\u00f6neminde olmas\u0131 nedeniyle ge\u00e7ti\u011fimiz y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re marjlarda bir miktar gerileme ger\u00e7ekle\u015fti. Br\u00fct kar %24 azal\u0131rken br\u00fct kar marj\u0131 %10.6\u2019dan %8.6\u2019ya geriledi. <\/p>\n\n\n\n

Fav\u00f6k taraf\u0131nda ise %20 azal\u0131\u015f ger\u00e7ekle\u015firken FAV\u00d6K marj\u0131 %1.3 azalarak %7.8 oldu. Ara\u00e7 ba\u015f\u0131na fav\u00f6k 1856 euro olurken net kar marj\u0131 %3.2 daralarak %4 seviyesine geldi.<\/p>\n\n\n\n

\u00c7eyreklik marjlarda ise bir miktar d\u00fczelme var. 2024 son \u00e7eyrekte dibi g\u00f6ren br\u00fct marj ve fav\u00f6k marj\u0131 tekrar y\u00fckselme e\u011filiminde.\u00a0<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bilan\u00e7o ve Nakit Ak\u0131\u015f Analizi<\/strong><\/p>\n\n\n\n

Bilan\u00e7o ve nakit ak\u0131\u015f\u0131 taraf\u0131nda olumlu sinyaller var. \u015eirket bu \u00e7eyrekte i\u015fletme faaliyetlerinde 30 milyara yak\u0131n nakit ak\u0131\u015f\u0131 elde etmi\u015f. Ge\u00e7ti\u011fimiz y\u0131l\u0131n ilk \u00e7eyre\u011finde bu rakam 14.8 milyar idi. Yat\u0131r\u0131m faaliyetlerine yakla\u015f\u0131k 4 milyar TL harcanm\u0131\u015f(1.\u00c7.24\u2019te 9.2 milyar TL idi), art\u0131k \u015firket b\u00fcy\u00fck yat\u0131r\u0131mlar\u0131n\u0131n sonuna geliyor. S\u0131rada bu yat\u0131r\u0131mlar\u0131ndan nakit elde etmesi var. \u015eirketin nakit ve nakit benzerleri \u00e7eyrek sonu itibariyle 49 milyar TL\u2019yi a\u015fm\u0131\u015f durumda. <\/p>\n\n\n\n

Bu \u00e7eyrekte ayr\u0131ca ciddi bor\u00e7 azalmas\u0131 ger\u00e7ekle\u015fmi\u015f. Net bor\u00e7 2.7 milyar eurodan 2.2 milyar euroya gelmi\u015f durumda. <\/p>\n\n\n\n

Sonu\u00e7 ve Beklentiler<\/strong><\/p>\n\n\n\n

\u015eirket 2025 y\u0131l\u0131 beklentilerinde de\u011fi\u015fikli\u011fe gitmedi. Sat\u0131\u015f adetlerinin bu y\u0131l %10 artmas\u0131n\u0131 bekliyorlar. Fav\u00f6k marj\u0131n\u0131n da %7-8 aral\u0131\u011f\u0131nda kalmas\u0131 durumunda y\u0131l sonu fav\u00f6k rakam\u0131n\u0131n da buna benzer bir art\u0131\u015f g\u00f6stermesini beklerim. <\/p>\n\n\n\n

Ford Otosan pazar\u0131n darald\u0131\u011f\u0131 ve rekabetin artt\u0131\u011f\u0131 bir ortamda marjlar\u0131ndan bir miktar feragat ederek sat\u0131\u015f adetlerini art\u0131rmay\u0131 ba\u015far\u0131yor. G\u00fc\u00e7l\u00fc nakit pozisyonu sayesinde y\u0131l\u0131n ikinci yar\u0131s\u0131nda bir temett\u00fc daha beklentimi s\u00fcrd\u00fcr\u00fcyorum.<\/p>\n\n\n\n

\"\"\/<\/figure>\n","protected":false},"excerpt":{"rendered":"

Herkese selamlar. 2025 1. \u00c7eyrek bilan\u00e7o analizlerine FROTO ile devam ediyorum. Ford portf\u00f6y\u00fcmde ciddi bir a\u011f\u0131rl\u0131\u011fa sahip ve yak\u0131ndan takip etti\u011fim bir \u015firket. \u00d6ncelikle ilk…<\/p>\n","protected":false},"author":2,"featured_media":3268,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[44,5,4],"tags":[45,22,26],"class_list":["post-3267","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilanco","category-borsa","category-hisse-senedi","tag-bilanco","tag-borsa","tag-hisse-senedi","entry","double"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/baytutumlu.com\/wp-content\/uploads\/2025\/05\/Ford-Otosan-1.jpg?fit=768%2C461&ssl=1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/posts\/3267","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/comments?post=3267"}],"version-history":[{"count":1,"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/posts\/3267\/revisions"}],"predecessor-version":[{"id":3269,"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/posts\/3267\/revisions\/3269"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/media\/3268"}],"wp:attachment":[{"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/media?parent=3267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/categories?post=3267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/tags?post=3267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}