istanbul stock exchance

8/8/2019 Istanbul Stock Exchance

1/92


2/92

J`ln Hbe`hb


3/92

Biqqi= _xuqql Vx`c, Foclkal Vx`cWhlfh lq Cibh, Whlfh ok qch ^iu`a

Lkqchb = vqod`` BluQch Lkqchb ij Okahwhkahkfh


4/92


5/92


6/92

Bxvqljl Dhbl` Lqlqud, jixkahu lka jouvq Wuhvoahkq ij qch

Uhwxe`of ij Qxudhy


7/92

Fixkfo` ijhxuiwh

KLQI IHFA

IVFH

N"57


8/92

Qxudhy ehnlk jx`` bhbehuvcowkhniqolqoikv ~oqc qch Hxuiwhlk Xkoik ok

5778 clzokn ehhk lk lvvifolqh bhbehu ij

qch HHF vokfh


9/92

Qch klbh ij Qxudhy, Qudoyh ok qch Qxudovc `lknxlnh, flk ehaozoaha okqi q~i ~iuav= Qud, ~cofc bhlkv %Vquikn% ok Ià Qxudoflka xvxl``y vonkojyokn qch okcleoqlkqv ij Qxudhy iu l bhbehu ijqch Qxudovc iu Qxudof whiw`hv,

l `lqhu jiub ij%Qxdok

%, l klbh nozhk ey qch Fcokhvh qi qchwhiw`h òzokn vixqc ij qch L`qly Bixkqlokv ij Fhkqul` Lvol lv

hlu`y lv > EFH4 lka qch levqulfq vxjjosoyh #ahuozha juib qch Luleof vxjjosoyyl,

exq l`vi lvvifolqha ~oqc qch Bhaohzl` @lqok vxjjosol ok Qxufcol,lka qch Bhaohzl` Nuhhd vxjjos ok /,

~cofc bhlkv %i~khu% iu %uh`lqha qi%+ Qch jouvq uhfiuaha xvh ij qchqhub %Qud% iu %Qud% lv lk lxqikyb ov fikqlokha ok qch Iudcikokvfuowqoikv ij qch Ndqudv #Vdy Qxudv/ ij Fhkqul` Lvol #f+ 3qcfhkqxuy FH/+ Qch Hknòvc ~iua %Qxudhy% ov ahuozha juib qchBhaohzl` @lqok %Qxufcol% #f+


10/92

Qch Nulka Fclbehu ij

qch Nulka Klqoikl`Lvvhbe`y ij Qxudhy okLkdlul

Qxudhy ov l wlu`olbhkqluyuhwuhvhkqlqozhahbifulfy+ Vokfh oqvjixkalqoik lv l uhwxe`of ok


11/92

Qch chla ij vqlqh ov qch Wuhvoahkq ij qchUhwxe`of lka clv l `lunh`y fhuhbikol` ui`h+

Qch mxaofoluy ov okahwhkahkq ij qch hshfxqozhlka qch `hnov`lqxuh, lka qch Fikvqoqxqoikl`Fixuq ov fclunha ~oqc ux`okn ik qch fikjiuboqyij `l~v lka ahfuhhv ~oqc qch fikvqoqxqoik+

Qch Fixkfo` ij Vqlqh ov qch quoexkl` ij `lvq uhviuqjiu labokovqulqozh flvhv, lka qch Conc Fixuq ijLwwhl`v jiu l`` iqchuv


12/92

Okahwhkahkfh= 5?Ifqiehu


13/92

Qxudhy ov l jixkaokn bhbehu ij qch Xkoqha

Klqoikv#6/,

qch HFI#


14/92

Qch Qxudovc Lubha Jiufhvfikvovqv ij qch Luby, qch Klzylka qch Lou Jiufh+Qch Nhkalubhuoh lka qch Filvq Nxluaiwhulqh lv wluqv ij qch Bokovquy ij Okqhukl`

Ljjlouv ok whlfhqobh, l`qcixnc qchy luh vxeiuaoklqha qi qch Luby lka Klzy

Fibblkav uhvwhfqozh`y ok ~luqobh, axuokn ~cofc qchy clzh eiqc okqhukl` `l~

hkjiufhbhkq lka bo`oqluy jxkfqoikv+

Qch Qxudovc Lubha Jiufhv ov qch vhfika `lunhvq vqlkaokn lubha jiufhok KLQI ljqhuqch X+V+ Lubha Jiufhv ~oqc l fibeokha vquhknqc ij


15/92


16/92

Eivwciuxv Euoanh okOvqlkex`, fikkhfqoknHxuiwh #`hjq/ lka Lvol#uoncq/

Qxudhy ov l qulkvfikqokhkql`Hxulvolk fixkquy+

Lvolk Qxudhy #blah xw`lunh`y ij Lklqiòl, ~cofcokf`xahv ?>( ij qch fixkquy,

ov vhwlulqha juib HxuiwhlkQxudhy ey qch Eivwiuxv, qchVhl ij Blublul, lka qchAlualkh``hv #~cofcqinhqchu jiub l ~lqhu òkdehq~hhk qch E`lfd Vhl lkaqch Bhaoqhuulkhlk+

Hxuiwhlk Qxudhy #hlvqhukQculfh iu Uxbhòl ok qchEl`dlk whkokvx`l/ okf`xahv6( ij qch fixkquy+


18/92

Qxudhy ovhkfouf`ha eyvhlv ik qcuhhvoahv= qch

Lhnhlk Vhl qiqch ~hvq, qchE`lfd Vhl qiqch kiuqc lkaqchBhaoqhuulkhlkVhl qi qch

vixqc+ Qxudhy l`vi

fikqlokv qchVhl ijBlublul ok qchkiuqc~hvq+


19/92


20/92

Ovqlkex` ov qch ik`y foqy okqch ~iu`a `iflqha ik q~ifikqokhkqv, Hxuiwh lkaLvol+ Ok oqv qcixvlkav ijyhluv ij covqiuy, oq clv ehhkqch flwoql` ij qcuhh nuhlqhbwouhv " Uiblk,

Ey}lkqokh lka Iqqiblk+


21/92

Eivwciuxv ov l klqxul` vquloq fikkhfqokn qchE`lfd Vhl qi qch Vhl ij Blublul, qcxv ehokn lzhuy vqulqhnof ~lqhu~ly+

Oq ~lv l uozhu ok qch zl``hy axuokn qch Qhuqoluywhuoia ij qch fikqokhkqv, ~cofc ~lv aui~kha eyqch vhl lq qch hka ij qcov whuoia

+ Oq.v `hknqc ov 65 do`ibhqhuv #57 bo`hv/ ok qch kiuqcqi vixqc aouhfqoik, ~oaqc zluohv ehq~hhk >67"6677 bhqhuv #377"6:77 yluav/, lka ahwqc ovehq~hhk 67"


22/92


23/92

@iflqoik= vixqchlvqhuk Hxuiwh lkavixqc~hvqhuk Lvol #qclq wiuqoik ij Qxudhy~hvq ij qch Eivwiuxv ov nhinulwcofl``ywluq ij Hxuiwh/, eiuahuokn qch E`lfd Vhl,ehq~hhk Ex`nluol lka Nhiunol, lka

eiuahuokn qch Lhnhlk Vhl lka qchBhaoqhuulkhlk Vhl, ehq~hhk Nuhhfhlka Vyuol

Nhinulwcof fiiuaoklqhv= 6? 77 K, 68 77 H

Blw uhjhuhkfhv= Boaa`h Hlvq


24/92

Bluoqobhf`lobv=

qhuuoqiuol` vhl= :kb ok qchLhnhlk Vhl4


25/92


26/92

@lka xvh= lule`h `lka= 67+?6(whublkhkq fuiwv= 6+6:(#577


27/92

Hkzouikbhkq " fxuuhkq ovvxhv= ~lqhuwi``xqoik juib axbwokn ij fchbofl`vlka ahqhunhkqv4 lou wi``xqoik,

wluqofx`lu`y ok xuelk luhlv4ahjiuhvqlqoik4 fikfhuk jiu io` vwo``v juibokfuhlvokn Eivwiuxv vcow quljjof

Hkzouikbhkq " okqhuklqoikl` lnuhhbhkqv=wluqy qi= Lou Wi``xqoik, Lkqlufqof Quhlqy,Eoiaozhuvoqy, Fòblqh Fclknh,Ahvhuqojoflqoik, Hkalknhuha Vwhfohv,Cl}luaixv ^lvqhv, I}ikh @lyhuWuiqhfqoik, Vcow Wi``xqoik, ^hq`lkav

vonkha, exq kiq ulqojoha= Hkzouikbhkql`Biaojoflqoik

Nhinulwcy " kiqh= vqulqhnof ìflqoikfikqui`òkn qch Qxudovc Vquloqv #Eivwiuxv,Vhl ij Blublul, Alualkh``hv/ qclq òkdE`lfd lka Lhnhlk Vhlv4 Bixkq Lululq,qch `hnhkaluy `lkaokn w`lfh ij Kilc.vLud, ov ok qch jlu hlvqhuk wiuqoik ij qchfixkquy


28/92

Lnh vquxfqxuh= 7",


29/92

Ahlqc ulqh= 8+?: ahlqcv)


30/92

Okjlkq biuql`oqy ulqh= qiql`= 1


31/92

Ulo`~lyv= qiql`= 3,:?> db

vqlkalua nlxnh= 3,:?> db


32/92

Conc~lyv=

qiql`= 681,15< db wlzha= ,171 db#okf`xaokn ,7 db #5775/


33/92

^lqhu~lyv= db4 io`6,8:5 db#5771/


34/92

Wiuqv lkaclueiuv=


35/92

Hfikiby " izhuzoh~= Qxudhy.v ayklbofhfikiby ov l fibw`hs bos ij biahuk

okaxvquy lka fibbhufh l`ikn ~oqc lqulaoqoikl` lnuofx`qxuh vhfqiu qclq ok 5771vqo`` lffixkqha jiu biuh qclk 68( ijhbw`iybhkq+


36/92

Qch wxe`of vhfqiu jovfl` ahjofoq hsfhhav:( ij NAW " axh ok `lunh wluq qi qch

cxnh exuahk ij okqhuhvq wlybhkqv, ~cofclffixkqha jiu biuh qclk 17( ij fhkqul`nizhukbhkq vwhkaokn ok 5771, lka qiwiwx`ovq vwhkaokn+


37/92

Qxudhy.v hfikiby nuh~ lk lzhulnh ij :+7( whu yhlu juib 5775qcuixnc 577>

ikh ij qch conchvq vxvqlokha ulqhv ij nui~qc ok qch ~iuà+ Ahvwoqh

qch 8+7( nui~qc qlunhq jiu 5773, lv l uhvx`q ij qch 5773 nìel`fikqulfqoik Qxudhy.v hfikiby ~lv hswhfqha qi clzh nui~kleixq 6+8( ok 5773+

Okj`lqoik lka okqhuhvq ulqhv clzh jl``hk vonkojoflkq`y, qch fxuuhkfyclv uh`lqozh`y vqleoò}ha, nizhukbhkq aheq clv ahfòkha qi biuhvxwwiuqle`h hzh`v #63+8( ij NAW/, lka exvokhvv lka fikvxbhufikjoahkfh clzh uhqxukha+ Lq qch vlbh qobh, eiiboknhfikibof nui~qc clv fikquoexqha qi l nui~okn fxuuhkq lffixkqahjofoq #"6?+7( ij NAW/+

Qcixnc Qxudhy.v zx`khuleoòqohv clzh ehhk nuhlq`y uhaxfha, qchhfikiby fixà vqo`` jlfh wuie`hbv ok qch hzhkq qchuh ov l vxaahkfclknh ok okzhvqiu vhkqobhkq, lv vhhk ~oqc 5773 bludhqfikaoqoikv+

Fikqokxha obw`hbhkqlqoik ij uhjiubv, okf`xaokn qoncq jovfl`wiòfy, lka vhfxuokn okahwhkahkq Fhkqul` Elkd bikhqluywiòfohv ov hvvhkqol` qi vxvqlok nui~qc lka vqleoòqy


38/92

Hkhuny+

Jivvo` jxh`v lffixkq jiu :3( ij qch qiql`

okvql``ha flwlfoqy lka cyaui,nhiqchubl`, lka ~oka lffixkq jiu qchuhblokokn 65(+ H`hfquofoqy ahblka okQxudhy clv ehhk leizh qch lzhulnh ulqhij NKW nui~qc izhu qch `lvq jh~ yhluv


39/92

Ok 5771, qch Wluòlbhkq lwwuizha lwhqui`hxb bludhq uhjiub eo`` qclq

òehulò}ha fikvxbhu wuofhv lka ~ixà`hla qi qch wuozlqo}lqoik ij qch vqlqhuhjokokn fibwlky QXWULV, ~cofc ~lvwuozlqo}ha ok 5778+ Qxudhy clv l uhjokokn

flwlfoqy ij >8 eluuh`v whu aly#e)a/+


40/92


41/92

Qch blok fikquoexqiu qi qch NKW ~lv okaxvquy,qcixnc, bldokn xw biuh qclk 67(+

Hfikiby ik qch `hzh` ij iuaokluy Qxudv, clzh~iuvhkha ok qch `lvq yhluv, lv okj`lqoik clvehhk lq qch `hzh` ij


42/92

Okaxvquy #6+8 eo`òik4 #577:/ !38+8 eo`òik4#577>/ !+5 eo`òik4 #5773, lv ij Kizhbehu/ !


43/92

NAW= 8+6( #5776/

NAW " uhl` nui~qc ulqh= 3+5( #5771 hvq+/

NAW " whu flwoql= wxufclvokn wi~huwluoqy " !>,177 #5771 hvq+/


44/92

Wiwx`lqoik ehì~ wizhuqy òkh= 57( #5775/

Cixvhcià okfibh iu fikvxbwqoik ey

whufhkqlnh vcluh= ì~hvq


45/92

@leiu jiufh= 58+6 bo``oik kiqh= leixq


46/92

H`hfquofoqy " wuiaxfqoik= eo``oik d^c#5776/

H`hfquofoqy " wuiaxfqoik ey vixufh=

H`hfquofoqy " fikvxbwqoik=


47/92

Io` " wuiaxfqoik= 13,777 ee`)aly #577< hvq+/

Io` " fikvxbwqoik= :


48/92

Klqxul` nlv " wuiaxfqoik= 6


49/92

Hswiuqv " fibbiaoqohv= lwwluh`, jiiavqxjjv,qhsqo`hv, bhql` blkxjlfqxuhv, qulkvwiuq

h|xowbhkq

Obwiuqv= !?1+8 eo``oik j+i+e+ #5771 hvq+/

Obwiuqv " fibbiaoqohv= blfcokhuy, fchbofl`v,vhbo"jokovcha niiav, jxh`v, qulkvwiuq h|xowbhkq


50/92

Aheq " hsqhukl`= !


51/92

@hzhkq joklkfol` aovquofq ok Ovqlkex`


52/92


53/92


54/92


55/92

Iunlko}ha bludhqw`lfh ok ~cofcvqifdv, Fibbik Vqifd H|xozl`hkqv

lka eikav luh qulaha ey bhbehuv ijqch hsfclknh, lfqokn eiqc lv lnhkqv#euidhuv/ lka lv wuokfowl`v #ahl`huv iuqulahuv/+


56/92

Ok qhubv ij flwoql` jì~v, Qxudhy ov jlubiuh iwhk blky Hxuiwhlk fixkquohv+

Joklkfol` òehulò}lqoik lka joklkfolàhhwhkokn clzh kiq Qxudhy.v òehul`joklkfol` bludhqv clzh ehhk jlfoknvhuoixv ahvqleoòvokn hjjhfqv ij joklkfol`nìelò}lqoik+


57/92


58/92


59/92


60/92


61/92


62/92

BDE ov qch ik`y fiuwiulqoik ok Qxudhy jiuvhfxuoqohv hsfclknh hvqle`ovcha qi

wuizoah qulaokn ok h|xoqohv, eikav lkaeo``v, uhzhkxh"vcluokn fhuqojoflqhv, wuozlqhvhfqiu eikav, jiuhonk vhfxuoqohv lka uhl`hvqlqh fhuqojoflqhv lv ~h`` lv okqhuklqoikl`

vhfxuoqohv+


63/92

Qch OVH ~lv jixkaha lv lk lxqikibixv,wuijhvvoikl` iunlko}lqoik ok hlu`y


64/92

Qulaokn cixuv luh 7?=67"


65/92

Bhbehuvcowv ij OVH Qch OVH ov l jx`` bhbehu ij Jhahulqoik ij Hxui"Lvolk Vqifd

Hsfclknhv #JHLV/, Okqhuklqoikl` Vhfxuoqohv Vhuzofhv

Lvvifolqoik #OVVL/, Okqhuklqoikl` Flwoql` Bludhq Lvvifolqoik

#OFBL/, îuà Hfikibof Jiuxb #^HJ/ lka lk ljjoòlqh bhbehu ij Okqhuklqoikl` Iunlko}lqoik ij Vhfxuoqohv

Fibbovvoikv #OIVFI/+


66/92

Okzhvqbhkq ov l`vi ljjhfqha ey conchuvqifd wuofhv+ ^oqc l conchu vqifd wuofh, l

joub flk ulovh biuh bikhy whu vcluh qijoklkfh okzhvqbhkq wuimhfqv+


67/92

Qchy ch`w qi Fuhlqh okzhvqbhkqiwwiuqxkoqohv jiu vbl`` okzhvqiuv ey hkle`oknqchb qi i~k vcluhv ij qch fibwlkohv lv`lunh okzhvqiuv, lka qi hkmiy vobo`lu ulqhv ij

uhqxuk

Oqv vhuzhv lv lk hfikibof Eluibhqhu , Lkhfikibof uhfhvvoik, ahwuhvvoik, iujoklkfol` fuovov fix`a hzhkqxl``y `hla qi lvqifd bludhq fulvc+ Qchuhjiuh qchbizhbhkq ij vcluh wuofhv lka ok nhkhul` ijqch vqifd okahshv flk eh lk okaoflqiu ijqch nhkhul` quhka ok qch hfikiby++


68/92

^clq qywh okvquxbhkq vqifd

Hsfclknhvqlkex`9

L`qcixnc okquiaxfha ik`y l vciuq qobhlni, vqifd okahs jxqxuhv clzh ehfibhlk hsquhbh`y obwiuqlkq qulaoknokvquxbhkq qcuixncixq ~iu`a joklkfol`vhfqiuv+ Ok ixu fixkquy, Qxudhy, l ahfovoikclv uhfhkq`y ehhk blah qi `lxkfc lJxqxuhv * Iwqoikv Bludhq ~oqcok qch

Ovqlkex` Vqifd Hsfclknh+ Qch jouvqokvquxbhkq qclq ov w`lkkha jiu qulaokn okqcov bludhq ov vqifd okahs jxqxuhv


69/92

Ok qcov qchvov O aovfxvv qch `hnl`, joklkfol`,lka vquxfqxul` julbh~iud ij vqifd okahs

jxqxuhv fikqulfq qulaokn ik qch Ovqlkex`Vqifd Hsfclknh+ O ijjhu l vxbbluy ij qchuhnx`lqiuy lka okvqoqxqoikl` jixkalqoikvuh|xouha jiu vxffhvvjx``y obw`hbhkqokn

jxqxuhv qulaokn ok Qxudhy+


70/92

Lky vqxay ik vqifd okahs jxqxuhv qulaokn bxvq okf`xah laovfxvvoik ij qch qchiuhqofl` julbh~iud ij jxqxuhv bludhqv"okvqoqxqoikv, iwhulqoik bhfclkovbv, lka iqchu jhlqxuhv ij l~h``"iunlko}ha jxqxuhv bludhq bxvq l`vi eh lkl`y}ha+Vqifd okahshv uh|xouh vwhfol` lqqhkqoik, lv qchy uhwuhvhkqqch xkahu`yokn lvvhqv ij vqifd okahs jxqxuhv+ O uhzoh~ qchqhfcko|xhv ij fikvquxfqokn lk okahs lka qch zluoixvjlfqiuv qclq okj`xhkfh oq+ O iwhulqh ik qch lvvxbwqoik qclqvqifd okahshv luh vxoqle`h okvquxbhkqv jiu vhuzokn lv ljixkalqoik ij jxqxuhv fikqulfqv+ O hsw`lok vwhfojoflqoik lkawuofokn qhfcko|xhv ij vqifd okahs jxqxuhv lka lunxh qclq

qchy bly okahha uhwuhvhkq l niia l`qhuklqozh jiublklnokn vqifd bludhq uovd+


71/92


72/92


73/92

@LUNHVQ FIBWLKOHV

Dif Ciàokn,

Vlelkfo Ciàokn

, Iyld Ciàokn,

Qxwulv"Qudoyh Whqui` Uljokhuo`huo

Ainxv Okvllq,

Ainlk Nuixw

, Huahbou,

Zhvqh`dib

, Qxudfh`` O`hqovob Co}bhq`huo

, Qxud Hdikibo Elkdlvo #QHE/

, Iuclk,

Fobhkqlv

LdElkd

Lvol Fh``, Ehalv,

Eiqlv,

EUD H`hdquikod @QA,

Fokhu,

Qxunly,

Alkikhvl


74/92

BLUDHQ FLWOQL@O]LQOIK IJOVQLKEX@ VQIFD HSFCLKNH

Alqlelvh Qle`h Klbh= Qxudhy bludhqflwoql`o}lqoik ij Ovqlkex` Vqifd Hsfclknhfibwlkohv ok XV ai``luv jiu


75/92


76/92


77/92

Qxudovc Okaxvquy

Okaxvquyelvhanui~qc% clv l`~lyvehhkikhijqchblokiemhfqozhvjiuQxudovchfikiby+

Qxudovcokaxvquyblok`yahwhkavik qchwuozlqhvhfqiulfqozoqohv+Qchvcluhij wxe`ofvhfqiuok qchblkxjlfqxuoknokaxvquyclv

ehhkahfuhlvhaqcuixncwuozlqovlqoiklfqozoqohvok uhfhkqyhluv+

Fxuuhkq`y, biuhqclk37 ( ij wuiaxfqoiklkaleixq?8 ( ijnuivvjoshaokzhvqbhkqok qchblkxjlfqxuoknokaxvquyovuhl`o}haeyqchwuozlqhvhfqiu


78/92

Qxudovc Jiia Okaxvquy


79/92


80/92


81/92

H\XOWBHKQ

FikvquxfqoikH|xowbhkqv Vhfqiu clv Nui~k :5,>( ok hswiuqvl`hv ok qch jouvq


82/92

Ovqlkex` Vqifd Hsfclknh

Uhvoqwlvl Blc Qxkfly Luqxk Fa,Ovqlkex`611:>, Qxudhy

Qh`= #?7/ 5


83/92


84/92


85/92

Blkwi~hu |xlòqy xw

Ahzhìwha qhfckiìny

Fixuqvcow uovd aobokovc Nìelò}lqoik clubiky

Fuovov labokovqulqoik hswhuohkfh

Fuhaoq wivqflua l~d~iua okfuhlvh


86/92


87/92

Qchuh ov vi bxfc vwhfx`lqozh voqxlqoik

I~k vwuokn oklah|xlfy

Vwuokn fivq conc lka clzokn l josha qhubvciuq

@o|xoa uovd

Qchuh ov vibh wuie`hb leixq fuhaoq


88/92


89/92

Wi`oqofl` lka hfibibof vqleo`oqy fikqokxlqoik

Biuqnlnh wuibhklaokn jiublqoik

Vqulknh vqulqhnofv wluqkhu Uhvoaxl` ixqvoah qulah


90/92


91/92

Hfikibof julno`h

Fixuqvcow uovd


92/92

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