Baladna reports record 8% profit growth in FY24

QATAR – Baladna Q.P.S.C., Qatar’s leading dairy and juice company, has reported record financial performance for the year ended December 31, 2024. 

The company announced an 8% increase in revenue, reaching QAR 1,145 million, and a remarkable 69% rise in net profit, amounting to QAR 185 million. 

These results reflect Baladna’s market-driven strategies, operational efficiencies, and continued expansion efforts.

Baladna attributed its revenue growth to strong sales across all distribution channels, including retail and HORECA, alongside the successful launch of new products and marketing campaigns. 

The company also reported that its market share increased across key product categories, supported by major events such as the sixth edition of the Asia Cup and heightened sales during Ramadan.

The company’s net profit growth was driven by enhanced operational efficiencies and disciplined cost management. 

“Our ability to drive operational excellence and control costs has been a key factor in achieving these record results,” a company spokesperson stated. 

Baladna also benefited from international business activities and reduced financing costs through strategic negotiations, further strengthening its bottom line.

In 2024, Baladna made significant progress in product innovation.

The company enhanced its juice portfolio with new flavors and packaging, expanded its high-protein milk and yogurt offerings, and introduced a broader range of Greek yogurt and cheese products. 

Additionally, the Awafi line was revitalized under the “Every Day Quality, Every Day Value” initiative.

Throughout the year, Baladna maintained a perfect quality record, ensuring 100% market demand fulfillment through advanced inventory management systems.

The company also achieved a major milestone by becoming the first in Qatar to receive the FSSC 22000 version 6 certification for food safety management systems.

As part of its international expansion, Baladna launched a US$3.5 billion dairy project in Algeria, marking the largest vertically integrated dairy farm in the country. 

Holding a 51% equity stake, the company plans to house over 270,000 cows and produce approximately 1.7 billion liters of milk annually. 

The framework agreement for the project was signed in April 2024, followed by a shareholder agreement in September 2024, with further agreements, including an off-take deal with the Algerian government, expected in early 2025. 

In January 2025, Baladna officially incorporated “Baladna Algeria” to oversee the venture.

Additionally, in September 2024, Baladna signed a Memorandum of Understanding with the Algerian Ministry of Industry & Pharmaceutical Production to explore an infant milk production project in collaboration with the Algerian National Investment Fund. 

This initiative aligns with the company’s long-term strategy to expand in Algeria and contribute to the region’s dairy industry.

In the domestic market, Baladna secured a QAR 100 million government contract in November 2024 to supply evaporated milk in 2025. 

These products are produced in a newly built, state-of-the-art facility, supporting Qatar’s food self-sufficiency goals and reducing dependency on imports.

To reward investors, Baladna’s Board of Directors has proposed issuing one bonus share for every 19 shares, subject to approval at the upcoming General Assembly Meeting. 

“This reflects our confidence in Baladna’s growth prospects and our commitment to delivering value to our shareholders,” the company stated.