Baladna (BLDN) Q3 2025 earnings summary

Executive summary

• Achieved 10% year-over-year revenue growth to QAR 941.4m for YTD 2025, driven by strong performance in yogurt, UHT milk, and evaporated milk categories, and supported by portfolio development and operational improvements.

• Net profit surged 170% year-over-year to QAR 381.5m, supported by higher sales, gains from a diversified investment portfolio, and cost management.

• EBITDA rose 94% year-over-year to QAR 554m, reflecting operational efficiency and investment returns.

• Maintained leading market share in core categories, with #1 positions in fresh milk, UHT milk, laban, and yogurt.

• Launched 31 new SKUs and expanded distribution, supporting revenue growth and consumer-led innovation.

Financial highlights

• YTD 2025 revenue: QAR 941.4m (+10% YoY); Q3 2025 revenue: QAR 299m (+13% YoY).

• YTD 2025 net profit: QAR 381.5m (+170% YoY); Q3 2025 net profit: QAR 50m (+24% YoY).

• YTD 2025 EBITDA: QAR 554m (+94% YoY); Q3 2025 EBITDA: QAR 110m (+23% YoY).

• Gross profit margin improved to 25.3% YTD 2025 from 23% YTD 2024.

• Earnings per share increased to QAR 0.191 YTD 2025 from QAR 0.070 YTD 2024.

Outlook and guidance

• Focus on international expansion, especially in Algeria, Egypt, and Syria, with ongoing strategic assessments for new markets.

• Continued investment in product quality, innovation, and operational efficiency through digital transformation and automation.

• Sustainability initiatives to enhance water efficiency, circularity, and traceability, with external validation from Forbes ME and Tawteen.

• Expansion plans aligned with sustainable and profitable growth objectives.

• Capital commitments for expansion projects stood at QR 391.2 million as of 30 September 2025.