Baladna (BLDN) Q2 2025 earnings summary

Executive summary

• Achieved robust financial growth in H1 and Q2 2025, with revenue for H1 2025 rising 8% YoY to QAR 643m and net profit surging 229% YoY to QAR 331.2m, driven by strong evaporated milk sales, new SKUs, diversified investments, and international expansion.

• Expanded product portfolio with 25 new SKUs and refreshed packaging, enhancing market presence and customer experience.

• Advanced international expansion, notably in Algeria, Egypt, and Syria, with major project approvals, strategic partnerships, and a new subsidiary.

• Appointed a new Group CEO with extensive global dairy experience to drive further growth and operational excellence.

• Net profit was boosted by a significant gain on financial assets, with total comprehensive income matching net profit.

Financial highlights

• H1 2025 revenue reached QAR 642.5m, up 8% YoY; Q2 2025 revenue up 11% YoY to QAR 312m.

• H1 2025 net profit surged 229% YoY to QAR 331.2m; Q2 2025 net profit up 422% YoY to QAR 273m.

• H1 2025 EBITDA increased 127.5% YoY to QAR 444.2m; Q2 2025 EBITDA up 71% YoY to QAR 100m.

• Earnings per share for H1 2025 rose 230% YoY to QAR 0.165.

• Gross profit margin improved to 26% in H1 2025 from 24% in H1 2024; gross profit rose to QAR 166.6m.

Outlook and guidance

• Continued focus on international expansion, especially in Algeria, Egypt, and Syria, with new projects and subsidiaries.

• Emphasis on product innovation, quality, and operational efficiency to sustain growth.

• Ongoing investments in technology, sustainability, and ESG practices to drive long-term value.

• Results for the six-month period are not necessarily indicative of full-year performance.

• The company continues to benefit from government support and subsidies through 2027.