Baladna shifts focus to high-protein products, Algerian partnership after Malaysia setback

ALGERIA – Baladna, Qatar’s leading dairy company, is redirecting its growth strategy toward high-protein dairy products and a significant collaboration with Algeria following the collapse of a joint venture in Malaysia. 

The shift comes as the company announced its full-year financial results for 2024, revealing a record-high revenue of US$316 million, an 8% increase from the previous year. 

Net profit also soared by 69% to US$51 million, reinforcing Baladna’s strong position in Qatar’s dairy and juice markets.

According to the company’s latest figures, Baladna dominates its home market, holding a 96.1% share in fresh milk and 92.5% in UHT milk. 

With this solid foundation, the firm is now exploring new avenues to sustain its growth. 

During a recent investors’ meeting, Baladna’s Chief Financial Officer, Saifullah Khan, emphasized the company’s focus on innovation. 

“On the consumer strategy front, we have strong interest in the high-protein milk and yoghurt segments, and have already launched new innovations into this market where we see a lot of potential,” he said. 

The company expanded its portfolio by adding 39 new products in 2024, including new Greek yoghurt flavors, an enhanced cheese range, and a revitalized Awafi product line, a key player in the plain dairy segment.

On the international front, Baladna has finalized a major partnership with the Algerian National Investment Fund to establish what it claims will be the world’s largest vertically integrated dairy farm. 

“The agreement has been signed to establish the world’s largest vertically integrated dairy farm in Algeria,” Khan told investors. 

Meanwhile, Baladna is also negotiating additional agreements to strengthen its presence in Algeria, including a memorandum of understanding with the Algerian government to explore infant milk production.

The move follows the termination of a high-profile joint venture with Malaysia, announced in December 2024 by FGV Holdings, a Malaysian government-linked agriculture body. 

The project, initiated in 2020 and formalized in 2022, aimed to produce 100 million liters of fresh milk annually within three years, with plans to triple that output over a decade. 

Valued at US$986.4 million, the venture involved Baladna and FGV each holding a 40% stake, with the remaining 20% owned by Malaysia’s Touch Group Holdings.

However, FGV stated that unspecified conditions in the agreement were not met, leading all parties to mutually end the deal. Baladna has not commented on the matter.

Despite the setback, Baladna remains focused on leveraging its expertise in dairy self-sufficiency, with Algeria now a key part of its 2025 ambitions. 

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