Baladna, the leading dairy and juice company in Qatar, announced its interim results for the nine-month period ending September 30, 2024, achieving strong growth in both revenues and net profits. The company’s performance highlights the success of its market-driven strategies and focus on operational excellence, which qualifies Baladna to achieve sustainable growth.
The company stated in a statement that revenues for the first nine months of 2024 amounted to 859 million riyals, an increase of 11% year-on-year, driven by increased sales volume across all channels, new products, successful marketing campaigns, and continued market share gains.
Net profits during the 9 months of 2024 amounted to 141 million riyals, an increase of 118% year-on-year, with the net profit margin improving to 16% driven by operational efficiency and strategic cost controls, despite supply chain disruptions along with profits from international activities.
Revenues for the third quarter of 2024 reached 264.4 million riyals, an increase of 3% year-on-year, as a result of continued demand for basic production lines.
Net profits for the third quarter of 2024 increased by 82% year-on-year to reach 40.6 million riyals as a result of improved profit margins and efficiency.
Baladna’s focus on providing value through product innovation and operational improvements led to strong results during the first nine months of 2024. The company recorded revenues amounting to 859 million riyals, an increase of 11% year-on-year, supported by an increase in sales volume in both sectors. Hotels, restaurants, cafes and retail channels, and successful expansion of market share in key product categories. Our country’s market share increased during this period as a result of its targeted marketing campaigns and consumer-focused product offerings. New products launched in the market continued to satisfy consumer desires, contributing to revenue growth.
Net profit reached 141 million riyals, recording a noticeable improvement of 118% year-on-year. This increase was driven by enhanced operational efficiency across the value chain and disciplined cost control measures, which helped improve the net profit margin from 8% to 16%. In addition, our country benefited from profits from international activities and reduced financing costs through effective negotiations, which contributed to a strong net profit.
During this period, Baladna has made great strides in strategically enhancing its product portfolio while actively exploring innovation opportunities and new offerings to meet growing consumer demand. Key developments included successful entry into the high-protein milk and yogurt market, expanding the Greek yogurt portfolio with new flavors and increasing the diversity of cheese products. The company also relaunched its portfolio of juices with new packaging and new flavors, with the aim of enhancing the consumer experience. The revitalization of the Awafi product range, characterized by the new brand proposition of “Everyday Value, Everyday Quality”, supported by updated packaging, has also strengthened Baladna’s position as a leader in providing high-quality products. These initiatives demonstrate our country’s dedication to product innovation, adapting to changing consumer preferences, and supporting food security in Qatar.
One of the important achievements during this period is that Baladna Company won the annual government tender for the production and supply of evaporated milk in 2025, which is worth about 100 million riyals. This project will be implemented in the new advanced Baladna facility and enhances the company’s role in supporting food security and self-sufficiency in the State of Qatar.
At the international level, Baladna has made remarkable progress in its integrated dairy farming and production project in Algeria. Preliminary work began in September 2024, including drilling exploratory wells. The company also signed a shareholders agreement with the Algerian National Investment Fund, under which Baladna will own a 51% stake in the newly established Algerian company responsible for implementing the project. In addition, Baladna is considering establishing a project to produce infant formula in Algeria, in partnership with the Algerian National Investment Fund, to complement the milk powder production project. This cooperation comes within the framework of Baladna’s efforts to expand its presence in the region and support regional food security.
Looking forward, Baladna continues to focus on achieving sustainable growth through continued product innovation, operational excellence and market expansion. The company’s commitment to cost control and financial discipline ensures that it is well positioned to create long-term shareholder value.