Baladna (BLDN) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2024, reached QAR 859 million, up 11% year-over-year, driven by increased sales volume, new products, and robust performance in both Retail and HORECA channels.

• Net profit for the nine-month period was QAR 141 million, a 118% year-on-year increase, with net profit margin improving from 8% to 16% due to operational efficiencies and cost controls.

• Achieved strong financial and operational performance, reinforcing market leadership in Qatar's dairy and beverage sector.

• Expanded product portfolio and secured a major government contract for evaporated milk production in 2025.

• Advanced international expansion, notably in Algeria, with new projects and strategic partnerships.

Financial highlights

• Year-to-date revenue increased 11% year-over-year to QAR 859 million; Q3 revenue was QAR 264 million, up 3% year-over-year.

• Net profit for nine months reached QAR 141 million, up 118% year-over-year; Q3 net profit rose 82% to QAR 41 million.

• EBITDA for nine months was QAR 286 million, a 24% increase year-over-year, with a margin of 33%.

• Earnings per share rose to QAR 0.074 for the nine months, up from QAR 0.034 year-over-year.

• Free cash flow for the nine-month period was QAR 232 million, supporting dividend payments.

Outlook and guidance

• Focus remains on sustainable growth, innovation, and expanding market share, particularly in Algeria.

• Plans to introduce new products and maintain high product quality to meet evolving consumer preferences.

• Continued emphasis on cost control and operational excellence to drive bottom-line growth.

• Ongoing international expansion, especially in Algeria, to drive shareholder value.

• Results for the period are not necessarily indicative of the full year ending 31 December 2024.