“The foundations we laid in 2021 pave the way for many exciting new avenues as we manufacture new products and enter new international markets,” said Piet Hilarides in the Annual Report. “With the opportunities to diversify even further we can raise our market share and increase what is effectively the established brand of Qatar’s dairy and beverage sector. We feel confident about 2022,” he said.

“The FIFA World Cup 2022 will be a great opportunity for us to both increase our sales in the short- term and promote the brand to an international audience with the possibility of longer term benefits,” he said.

In order to mitigate inflationary concerns, Baladna focused on increasing sale volumes through increasing its market share in most of the categories and focusing more on Horeca channels.

Furthermore, Baladna enhanced operational efficiencies, in particular, managing its herd, resulting in a higher milk yield of 39.3 liters per day per cow in the first quarter of 2022 compared to 38.4 liters in the first quarter of 2021. Additionally, efficiencies in the manufacturing process, reduction in sales wastage through improved controls and systems as well as cost control of overheads.