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Sağlama record · BIST: BERA

Bera Holding

Bera Holding (BERA) shares are on Borsa Istanbul's participation index list (BIST Participation All Shares) for the period from October 1, 2026 to April 30, 2027. Source: Borsa Istanbul's list of participation index constituents, Oct 1, 2026. The shares are also in the BIST Participation 30, BIST Participation 30 Equal Weighted Return, BIST Participation 50 and BIST Participation 100 indices.

Dated October 17, 2026No. SGL-2026-6A-BERA

Based on the financial statements for the first half of 2026, the excluded income ratio depends on the company's declaration: the proven amount alone gives a ratio below the threshold, and the cautious upper bound is above it.

This is a measurement, not a religious ruling.

MEASUREMENT TABLE

Interest-bearing loans

within the threshold
2.4%

Upper bound

Calculation and source

Calculation: numerator ÷ denominatorTRY 1,181,129,659÷TRY 49,557,755,828 (total assets)× 100

RatioInterest-bearing loans / total assets

Upper bound. TRY 19,552,974 that is proven not to count was deducted from the debt numerator (source: Note 47). As a precaution, financial liabilities other than leases shown on separate lines outside the main debt total were added once, after they were confirmed against their section total. This is an assumption: it is not proven that these items carry interest. Because extra items are included, the ratio is an upper bound for the items shown in the financial statements. Note 9: “Alınan Depozito ve Teminatlar” TRY 8,721,445: undetermined, kept in the upper bound. Note 47: “Kısa Vadeli Banka Kredileri” TRY 894,713,396: undetermined, kept in the upper bound; “Kısa Vadeli Finansal Kiralama İşlemlerinden Borçlar” TRY 9,312,125: not counted (proven); “Uzun Vadeli Kredilerin Kısa Vadeli Kısmı” TRY 0: undetermined, kept in the upper bound. Note 47: “Uzun Vadeli Banka Kredileri” TRY 117,596,984: undetermined, kept in the upper bound; “Uzun Vadeli Finansal Kiralama İşlemlerinden Borçlar” TRY 10,240,849: not counted (proven). Notes that could not be used: Note 47 (Current portion of long-term borrowings): the note's amounts could not be matched to this item automatically. The ratio is in the range 0.00% to 2.38%; both bounds give the same result.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Kısa Vadeli Banka Kredileri · Short-term borrowings, note 47894,713,396undetermined, kept in the upper boundTKBB Guideline 6.1
Kısa Vadeli Finansal Kiralama İşlemlerinden Borçlar · Short-term borrowings, note 479,312,125not counted (proven)TKBB Guideline 6.2
Uzun Vadeli Kredilerin Kısa Vadeli Kısmı · Short-term borrowings, note 470undetermined, kept in the upper boundTKBB Guideline 6.1
Uzun Vadeli Banka Kredileri · Long-term borrowings, note 47117,596,984undetermined, kept in the upper boundTKBB Guideline 6.1
Uzun Vadeli Finansal Kiralama İşlemlerinden Borçlar · Long-term borrowings, note 4710,240,849not counted (proven)TKBB Guideline 6.2

KAFİF declaration 2.1% (first half 2026) · Sağlama range 0.0% to 2.4% (first half 2026) · the declaration is inside the range · View the form on KAP

Source: company financial report, first half 2026 statements · Jun 30, 2026

View the documentMethod

Interest-bearing assets

within the threshold
3.6%

Upper bound

Calculation and source

Calculation: numerator ÷ denominatorTRY 1,803,368,434÷TRY 49,557,755,828 (total assets)× 100

RatioInterest-bearing cash and securities / total assets

Upper bound. Asset items that may count as interest-bearing (line 5F of the KAFİF form) were taken in full from the public statements. Assets proven not to count (line 5G of the KAFİF form) were deducted as far as the notes prove them; items that could not be separated stayed in the numerator, as a precaution. The ratio is therefore an upper bound for the items shown in the financial statements. Note 47: “Hisse senetleri (*)” TRY 1,030,776,855: undetermined, kept in the upper bound; “Yatırım fonları” TRY 340,303,899: undetermined, kept in the upper bound; “Gerçeğe uygun değer farkı gelire yansıtılan finansal varlıklar” TRY 194,742,954: undetermined, kept in the upper bound. Note 53: “-Türk Lirası” TRY 1,769,553: undetermined, kept in the upper bound; “-Yabancı Para” TRY 1,484,140: undetermined, kept in the upper bound; “Vadesiz Banka Mevduatları / -Türk Lirası” TRY 183,073,954: not counted (proven); “Vadesiz Banka Mevduatları / -Yabancı Para” TRY 360,132,536: not counted (proven); “Vadeli Banka Mevduatları / -Türk Lirası” TRY 234,291,033: counted in the ratio (proven). The ratio is in the range 0.47% to 3.64%; both bounds give the same result.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Hisse senetleri (*) · Financial investments, note 47The company's note says: “Hisse senetleri, Grup’un 26.11.2021 tarihinde BİST’te işlem görmeye başlayan bağlı ortaklığı Konya Kağıt Sanayi ve Ticaret A.Ş. hissesi yatırımlarından oluşmaktadır.”1,030,776,855undetermined, kept in the upper boundTKBB Guideline 5.2
Yatırım fonları · Financial investments, note 47340,303,899undetermined, kept in the upper boundTKBB Guideline 5.1
Gerçeğe uygun değer farkı gelire yansıtılan finansal varlıklar · Financial investments, note 47194,742,954undetermined, kept in the upper bound
-Türk Lirası · Cash and cash equivalents, note 531,769,553undetermined, kept in the upper bound
-Yabancı Para · Cash and cash equivalents, note 531,484,140undetermined, kept in the upper bound
Vadesiz Banka Mevduatları / -Türk Lirası · Cash and cash equivalents, note 53183,073,954not counted (proven)TKBB Guideline 5.2
Vadesiz Banka Mevduatları / -Yabancı Para · Cash and cash equivalents, note 53360,132,536not counted (proven)TKBB Guideline 5.2
Vadeli Banka Mevduatları / -Türk Lirası · Cash and cash equivalents, note 53234,291,033counted in the ratio (proven)TKBB Guideline 5.1

KAFİF declaration 0.0% (first half 2026) · Sağlama proven lower bound 0.5% (first half 2026) · the declaration is below the proven lower bound, a question for the KAFİF Committee · View the form on KAP

Source: company financial report, first half 2026 statements · Jun 30, 2026

View the documentMethod

Excluded income

depends on the declaration
at most8.6%

Proven lower bound 0.0% · cautious upper bound 8.6%

Calculation and source

Calculation: numerator ÷ denominatorTRY 999,502,274÷TRY 11,623,944,174 (total income)× 100

RatioExcluded income / total income

On the KAP form this item is titled “Katılım Finans İlkelerine Uygun Olmayan Gelir”, which means income not in line with participation finance principles.

The measurement is a range. The lower bound counts only the amounts that the statements and notes prove; the upper bound also counts, as a precaution, every item that could not be proven. The threshold falls inside this range, so the outcome depends on the company's KAFİF declaration.

Measured on the items we can calculate. Income items that may count as excluded (line 4C of the KAFİF form) were taken in full from the public statements. Income that the notes prove does not count (line 4D of the KAFİF form) was deducted. Items that could not be separated stayed in the numerator, as a precaution. For these income lines (line 4C), the ratio is an upper bound. Excluded income from business activities (line 4B of the KAFİF form) does not appear in the financial statements; it is only in the company's KAFİF declaration on KAP. This measurement sets it to 0. If there is a declaration, the record shows it separately, with a link. Note 34: “Tahakkuk Etmemiş Finansman Gideri” TRY 314,082,710: undetermined, kept in the upper bound; “Hurda Satış Karı” TRY 98,675,254: not counted (proven); “Kira Geliri” TRY 50,325,222: not counted (proven); “Diğer” TRY 87,268,142: undetermined, kept in the upper bound. Note 37: “Faiz ve Vade Farkı Gelirleri” TRY 377,196,959: undetermined, kept in the upper bound; “Kambiyo Karları” TRY 260,914,842: not counted (proven). Note 35: “Duran Varlık Satış Karları” TRY 11,307,887: not counted (proven); “Finansal Varlık Satış Karları (*)” TRY 220,954,463: undetermined, kept in the upper bound. The ratio is in the range 0.00% to 8.60%; the outcome depends on the company's declaration.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Tahakkuk Etmemiş Finansman Gideri · Other income from operating activities, note 34314,082,710undetermined, kept in the upper bound
Hurda Satış Karı · Other income from operating activities, note 3498,675,254not counted (proven)TKBB Guideline 4.2
Kira Geliri · Other income from operating activities, note 3450,325,222not counted (proven)TKBB Guideline 4.2
Diğer · Other income from operating activities, note 3487,268,142undetermined, kept in the upper boundTKBB Guideline 4.1
Faiz ve Vade Farkı Gelirleri · Finance income, note 37377,196,959undetermined, kept in the upper bound
Kambiyo Karları · Finance income, note 37260,914,842not counted (proven)TKBB Guideline 4.2
Duran Varlık Satış Karları · Income from investing activities, note 3511,307,887not counted (proven)TKBB Guideline 4.2
Finansal Varlık Satış Karları (*) · Income from investing activities, note 35The company's note says: “Finansal varlık satış karları Grup’un alım satım amacıyla elde tuttuğu yatırım fonlarının satış işlemlerinden elde etmiş olduğu gelirlerden oluşmaktadır.”220,954,463undetermined, kept in the upper boundTKBB Guideline 4.1

KAFİF declaration 0.1% (first half 2026) · Sağlama range 0.0% to 8.6% (first half 2026) · the declaration is inside the range · View the form on KAP

Source: company financial report, first half 2026 statements · Jun 30, 2026

View the documentMethod

The three ratios are calculated from the financial statements, and each bar is scaled to its own threshold. The measurement uses the company's latest published statements, and every record states the period. The official review uses audited six- and twelve-month statements (Standard 3.4), so the periods can differ. Method

This record is produced by Sağlama's calculation from the financial statements the company publishes. The method and the corrections log are public. Responsible for this record: Savaş Tutumlu, founder.

Official list record

Official list
On the BIST Participation All Shares list · Index period from October 2026 to April 2027Source: Borsa Istanbul's list of constituents, Oct 1, 2026
In these sub-indices
BIST Participation 30 · BIST Participation 30 Equal Weighted Return · BIST Participation 50 · BIST Participation 100
Latest official change

Added to the BIST Participation 30 index as of October 1, 2026, for the period from October 2026 to April 2027. Source: Borsa Istanbul announcement, Sep 29, 2026 · KAP disclosure 1669816

All changes for the period from October 2026 to April 2027

Next period
Starts on May 1, 2027. Borsa Istanbul is expected to announce the new list by April 29, 2027 at the latest (Ground Rules 2.17). Sağlama's expectation for each member is on the Review forecast page. This is a forecast, not the official list.

Status history

6 entries

Each period's record and every correction are kept with their dates. Method

  1. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: at least one ratio above the threshold. Income 9.90% · assets 6.39% · loans 3.07%.
  2. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: depends on the company's declaration. Income 6.66% · assets 4.52% · loans 3.04%.
  3. Earlier measurementTKBB rules, August 2025, version 2 · Q1 2026: depends on the company's declaration. Income 6.66% · assets 4.52% · loans 3.04%.
  4. Earlier measurementTKBB rules, August 2025, version 2 · Q1 2026: depends on the company's declaration. Income 6.66% · assets 4.52% · loans 2.95%.
  5. Earlier measurementTKBB rules, August 2025, version 2 · first half 2026: depends on the company's declaration. Income 8.60% · assets 3.64% · loans 2.38%.
  6. MeasurementTKBB rules, August 2025, version 3 · first half 2026: depends on the company's declaration. Income 0.00% to 8.60% · assets 0.47% to 3.64% · loans 0.00% to 2.38%. The range crosses the threshold; the outcome depends on the company's declaration.THIS RECORD

Documents and sources

Source links lead to documents published by the company and by Borsa Istanbul. We do not copy KAP documents. Method

  • BERA financial report, Jun 30, 2026 (company investor relations site)Jun 30, 2026 · Fingerprint 46f59adbafde…View the document
  • Sağlama's calculation and methodTKBB rules, August 2025, version 3Read the method

If a figure looks wrong, write to bilgi@saglama.com. We correct it and record the correction with its date in the corrections log.

What this measurement covers

This result says nothing about the quality of the company. It only shows where a measured ratio stands against the threshold.

The measured range crosses the threshold: the proven amount is below the threshold and the cautious upper bound is above it. The outcome depends on the company's KAFİF declaration, so this record does not count as a divergence. Method

The company's KAFİF declaration

The company's declaration on the KAP form (first half 2026): excluded income 0.1%, interest-bearing assets 0.0%, interest-bearing loans 2.1%. The three declared ratios are within the thresholds; the declaration settles the open range of the measurement. View the form on KAP

The company's answers to the four yes/no questions on the form:

Do the articles of association of the company, its corporate shareholders or its affiliates include an activity that does not follow participation finance principles?
No
Do the company's articles of association grant a privilege that does not follow participation finance principles?
No
Has the company made a statement or decision supporting the actions defined in Standard 1.5 and TKBB Guideline 1.D?
No
Does the company have activities or income directly contrary to participation finance principles?
No

Purification calculation

Dividend-based method · CALCULATOR (DIVIDEND-BASED METHOD)

Purification calculator

A company within the threshold can still have a small amount of excluded income (interest income and other income the standard excludes). Under the TKBB standard, the part of this income that falls to your shares is given to charitable causes. This duty applies whether the company made a profit or a loss, and whether or not it paid a dividend. The amount set aside does not replace zakat or sadaqa.

CALCULATION SLIPBERA · first half 2026
Number of shares
500
Gross dividend per share
TRY 2.40
Gross dividend (500 × 2.40)
TRY 1,200.00
Excluded income ratio
8.6%
Purification amount
TRY 103.20

Purification amount = gross dividend × excluded income ratio

The number of shares and the dividend are sample inputs. The ratio comes from the company's measurement. To calculate with your own figures, use the purification page.

Purification amount = gross dividend × excluded income ratio (dividend-based method). Under TKBB Standard 3.6.1, purification is needed even if the company makes a loss or pays no dividend. The method page quotes TKBB Standard 3.6, including the inflation deduction under 3.6.2. This is a cautious calculation. The amount may be higher than the true figure, because it uses all of the interest income, not only the part above inflation. The ratio is the upper bound of the measurement (the lower bound is 0.00%); the purification amount is calculated on the upper bound, as a precaution.

  • Excluded income is the part of a company's earnings that is not in line with participation finance principles. On the KAP form it is called “income not in line with participation finance principles.”
  • Purification is done even if the company makes a loss.
  • Purification is needed even if no dividend is paid. The calculation here uses the dividend-based method. TKBB Standard 3.6 also counts how long you held the shares (the share-days method), which this calculator does not do yet.
  • The purification amount does not replace zakat or sadaqa. Under the TKBB standard, it is given away, not kept.
  • You give the amount yourself, to a charitable cause of your choice. Sağlama does not direct donations.

This calculation uses the dividend-based method. TKBB Standard 3.6 also counts how long you held the shares (the share-days method). The standard is quoted on the method page.

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Companies in the same index

The 12 companies just before and after this one in alphabetical order in BIST Participation 30.