Baladna (BLDN) Q2 2026 earnings summary

Executive summary

• H1 2026 revenue rose 2.6% YoY to QAR 659.4m, with net profit of QAR 361.9m, up 9.3%; domestic execution, product innovation and international expansion supported performance.

• Maintained leading Qatar market position through product launches, customer reach and renewal of key commercial contracts.

• Advanced Algeria and Syria projects and signed a global farming collaboration MoU with Al Dahra Holding.

Financial highlights

• H1 revenue was QAR 659.4m (+2.6% YoY); Q2 revenue was QAR 329.4m (+5.6%).

• H1 net profit was QAR 361.9m (+9.3%); Q2 net profit was QAR 300.7m (+10.2%).

• H1 gross profit was QAR 194.3m; gross margin rose to 29.5% from 25.9%.

• H1 EBITDA was QAR 477.6m (+7.5% YoY), with a 72.4% margin; EPS was QAR 0.170, up from QAR 0.154.

• Total assets reached QAR 7.15bn and total equity QAR 3.83bn at June 2026; cash and cash equivalents were QAR 100.3m.

Outlook and guidance

• Full-year evaporated milk revenue expected at QAR 120m versus QAR 108m last year; H1 revenue was QAR 30m–35m after the renewed contract began in April.

• Ice cream could become a QAR 30m–50m annual revenue business; supply-chain constraints limited launches to small batches, and in-house Qatar production is under consideration.

• Priorities include advancing Algeria and Syria projects, product innovation, operational efficiency and evaluating regional opportunities.