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Sağlama record · BIST: BUCIM

Bursa Çimento

Bursa Çimento (BUCIM) 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 50 and BIST Participation 100 indices.

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

The reading of the interest-bearing assets ratio in the financial statements for the first half of 2026 is not complete; the ratio rests on the items read. The statements will be read again, and the record's result will be given after that.

This is a measurement, not a religious ruling.

MEASUREMENT TABLE

Interest-bearing loans

within the threshold
22.8%

Upper bound

Calculation and source

Calculation: numerator ÷ denominatorTRY 7,182,616,047÷TRY 31,568,982,901 (total assets)× 100

RatioInterest-bearing loans / total assets

Upper bound. Debt items that may count as interest-bearing (line 6I of the KAFİF form) were taken in full from the public statements. Of the lease liabilities shown on the balance sheet, TRY 34,713,217 are debts that do not count under TKBB Guideline 6.2, so they were deducted from the debt numerator (source: balance sheet, page 5). Deductions on line 6J of the company's KAFİF declaration are taken only when the financial statements or notes confirm them. The ratio is therefore an upper bound for the items shown in the financial statements. (Loans from participation banks and lease certificates (sukuk) are deducted only when a note shows them separately; none of them was deducted in this measurement.) Note 10: “Taşerona Borçlar” TRY 58,428,989: undetermined, kept in the upper bound; “Alınan Depozito ve Teminatlar” TRY 14,858,735: undetermined, kept in the upper bound; “Ortaklara Temettü Borçları (Not 4)” TRY 96,657: undetermined, kept in the upper bound; “Diğer Çeşitli Borçlar” TRY 7,637,375: undetermined, kept in the upper bound; “Alınan Depozito ve Teminatlar” TRY 18,000: undetermined, kept in the upper bound. Notes that could not be used: Note 7 (Short-term borrowings): the columns of the note's table could not be read reliably. Note 7 (Current portion of long-term borrowings): the columns of the note's table could not be read reliably. Note 7 (Long-term borrowings): the current-period amounts of the note's lines could not be read automatically. The ratio is in the range 0.00% to 22.75%; both bounds give the same result.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Taşerona Borçlar · Other payables, note 1058,428,989undetermined, kept in the upper bound
Alınan Depozito ve Teminatlar · Other payables, note 1014,858,735undetermined, kept in the upper boundTKBB Guideline 6.1
Ortaklara Temettü Borçları (Not 4) · Other payables, note 1096,657undetermined, kept in the upper bound
Diğer Çeşitli Borçlar · Other payables, note 107,637,375undetermined, kept in the upper boundTKBB Guideline 4.1
Alınan Depozito ve Teminatlar · Other payables, note 1018,000undetermined, kept in the upper boundTKBB Guideline 6.1

KAFİF declaration 22.8% (first half 2026) · Sağlama range 0.0% to 22.8% (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

Interest-bearing assets

statements to be read again
6.6%

Measured on the items read

Calculation and source

Calculation: numerator ÷ denominatorTRY 2,068,512,758÷TRY 31,568,982,901 (total assets)× 100

RatioInterest-bearing cash and securities / total assets

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 rests on the items read from the financial statements; the statements will be read again. Note 6: “Likit Fon” TRY 91,607,883: undetermined, kept in the numerator. Note 5: “Kasa” TRY 23,461: not counted (proven); “Banka / Vadesiz Mevduatlar” TRY 80,843,607: not counted (proven); “Banka / Vadeli Mevduatlar” TRY 1,797,195,483: counted in the ratio (proven); “Kredi Kartı Alacaklar” TRY 222,741,753: not counted (proven). On the items read, the measured range is 5.69% to 6.55%.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Kasa · Cash and cash equivalents, note 523,461not counted (proven)TKBB Guideline 5.2
Banka / Vadesiz Mevduatlar · Cash and cash equivalents, note 580,843,607not counted (proven)TKBB Guideline 5.2
Banka / Vadeli Mevduatlar · Cash and cash equivalents, note 51,797,195,483counted in the ratio (proven)TKBB Guideline 5.1
Kredi Kartı Alacaklar · Cash and cash equivalents, note 5222,741,753not counted (proven)TKBB Guideline 5.2

KAFİF declaration 10.2% (first half 2026) · Sağlama measurement on the items read 5.7% to 6.6% (first half 2026) · the statements will be read again · View the form on KAP

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

Excluded income

within the threshold
3.8%

Measured on the items we can calculate

Calculation and source

Calculation: numerator ÷ denominatorTRY 296,818,108÷TRY 7,727,234,808 (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.

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 26: “Kur farkı gelirleri” TRY 192,838,187: not counted (proven); “Vadeli satışlardan kaynaklanan finansman geliri” TRY 101,561,044: undetermined, kept in the upper bound; “Arge hibe, teşvik ve destekler” TRY 13,224,352: not counted (proven); “Vade farkı gelirleri” TRY 12,874,597: not counted (proven); “Dava karşılığı iptali” TRY 11,194,479: undetermined, kept in the upper bound; “Kıdem ve izin karşılığı İptali” TRY 8,058,579: undetermined, kept in the upper bound; “Şüpheli alacak karşılık iptal geliri” TRY 1,946,579: not counted (proven); “Kira Gelirleri” TRY 125,969: not counted (proven); and 1 more line. Note 28: “Bankalar kambiyo karı” TRY 335,585,014: not counted (proven); “Faiz gelirleri” TRY 108,511,403: counted in the ratio (proven); “Türev Araçlardan Gelirler” TRY 37,972,925: counted in the ratio (proven); “Likit fon değerleme karı” TRY 3,289,587: undetermined, kept in the upper bound. Note 27: “Kira gelirleri” TRY 10,081,854: not counted (proven); “Temettü gelirleri” TRY 10,189,194: undetermined, kept in the upper bound; “Maddi duran varlık satış karları” TRY 2,821,782: not counted (proven); “Buseb değerleme karı” TRY 0: undetermined, kept in the upper bound. The ratio is in the range 1.90% to 3.84%; both bounds give the same result.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Kur farkı gelirleri · Other income from operating activities, note 26192,838,187not counted (proven)TKBB Guideline 4.2
Vadeli satışlardan kaynaklanan finansman geliri · Other income from operating activities, note 26101,561,044undetermined, kept in the upper boundTKBB Guideline 4.1
Arge hibe, teşvik ve destekler · Other income from operating activities, note 2613,224,352not counted (proven)TKBB Guideline 4.2
Vade farkı gelirleri · Other income from operating activities, note 2612,874,597not counted (proven)TKBB Guideline 4.2
Dava karşılığı iptali · Other income from operating activities, note 2611,194,479undetermined, kept in the upper bound
Kıdem ve izin karşılığı İptali · Other income from operating activities, note 268,058,579undetermined, kept in the upper bound
Şüpheli alacak karşılık iptal geliri · Other income from operating activities, note 261,946,579not counted (proven)TKBB Guideline 4.2
Kira Gelirleri · Other income from operating activities, note 26125,969not counted (proven)TKBB Guideline 4.2
Diğer gelirler · Other income from operating activities, note 2616,040,897undetermined, kept in the upper boundTKBB Guideline 4.1
Bankalar kambiyo karı · Finance income, note 28335,585,014not counted (proven)TKBB Guideline 4.2
Faiz gelirleri · Finance income, note 28108,511,403counted in the ratio (proven)TKBB Guideline 4.1
Türev Araçlardan Gelirler · Finance income, note 2837,972,925counted in the ratio (proven)TKBB Guideline 4.1
Likit fon değerleme karı · Finance income, note 283,289,587undetermined, kept in the upper boundTKBB Guideline 4.2
Kira gelirleri · Income from investing activities, note 2710,081,854not counted (proven)TKBB Guideline 4.2
Temettü gelirleri · Income from investing activities, note 2710,189,194undetermined, kept in the upper boundTKBB Guideline 4.2
Maddi duran varlık satış karları · Income from investing activities, note 272,821,782not counted (proven)TKBB Guideline 4.2
Buseb değerleme karı · Income from investing activities, note 270undetermined, kept in the upper bound

KAFİF declaration 3.4% (first half 2026) · Sağlama range 1.9% to 3.8% (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

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
Latest official change

Added to the BIST Participation 50 and BIST Participation 100 indices 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 17.38% · assets 10.62% · loans 24.32%.
  2. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: depends on the company's declaration. Income 17.38% · assets 10.62% · loans 24.32%.
  3. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: depends on the company's declaration. Income 9.01% · assets 10.31% · loans 24.32%.
  4. Earlier measurementTKBB rules, August 2025, version 2 · Q1 2026: depends on the company's declaration. Income 9.01% · assets 10.31% · loans 24.32%.
  5. Earlier measurementTKBB rules, August 2025, version 2 · first half 2026: all three ratios within the threshold. Income 3.84% · assets 6.55% · loans 22.86%.
  6. MeasurementTKBB rules, August 2025, version 3 · first half 2026: statements to be read again. Income 1.90% to 3.84% · assets 5.69% to 6.55% · loans 0.00% to 22.75%. The ratios rest on the items read.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

  • BUCIM financial report, Jun 30, 2026 (company investor relations site)Jun 30, 2026 · Fingerprint d172fdc3b69b…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 record's financial statements will be read again. The ratios rest on the items read; the record's result will be given after the new reading. Method

The company's KAFİF declaration

The company's declaration on the KAP form (first half 2026): excluded income 3.4%, interest-bearing assets 10.2%, interest-bearing loans 22.8%. The three declared ratios are within the thresholds. 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 SLIPBUCIM · 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
3.8%
Purification amount
TRY 46.08

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 1.90%); 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 50.