Baladna Finances, a Qatari Company That Will Invest in Cattle Farming in Indonesia

Baladna, a Qatari company, has received the green light from the Indonesian Ministry of Agriculture to invest in a dairy cattle farm. This investment will assist the government in fulfilling the needs of its free milk program.

"Baladna is ready to support the free nutritious food program by investing in a dairy cattle farm in Indonesia to supply the country's milk needs," said Minister of Agriculture Andi Amran Sulaiman, as quoted by Antaranews on Thursday (September 12, 2024).

According to Katadata.co.id, news of this investment emerged from a discussion between Amran and the Indonesian Ambassador to Qatar, Ridwan Hassan. Amran mentioned his ambition to achieve food self-sufficiency during the discussion with Hassan. He challenged Baladna to produce two million tons of milk, a challenge the company accepted.

Baladna's capacity to produce two million tons of milk per year is expected to reduce Indonesia's annual import needs. This aligns with the agricultural blueprint, which aims for Indonesia to achieve milk self-sufficiency by 2029.

So, how is Baladna's current financial performance?

Based on Baladna's financial report for the first half of 2024, the company recorded a net profit attributable to the parent entity of QAR 100.42 million, or Rp 425.2 billion (assuming an exchange rate of Rp 4,224 per QAR).

This net profit soared by 137.98% year-on-year (YoY) from QAR 42.29 million, or Rp 178.66 billion, in the first half of 2023.

Baladna's revenue also increased during the first six months of 2024, reaching QAR 594.66 million, or Rp 2.51 trillion, a 15.09% YoY increase from QAR 516.68 million, or Rp 2.18 trillion, in the first half of 2023.

Several key products and services were sold by Baladna between January and June 2024. The largest was milk sales, which reached QAR 522.89 million, or Rp 2.2 trillion, in the first half of 2024.

Other sales included: juice (QAR 37.8 million or Rp 159.67 billion); livestock farming (QAR 22.7 million or Rp 95.92 billion); plastics (QAR 1.69 million or Rp 7.15 billion); feed (QAR 14.68 thousand or Rp 62.03 million); compost and manure (QAR 937.43 thousand or Rp 3.95 billion); and others (QAR 11.02 thousand or Rp 46.57 million).

As of June 30, 2024, Baladna's assets were recorded at QAR 4.81 billion (Rp 20.32 trillion). Liabilities totaled QAR 2.48 billion (Rp 10.5 trillion), and equity amounted to QAR 2.32 billion (Rp 9.82 trillion).

(See also: Prabowo Promises Free Milk, What is the Trend of Indonesian Milk Consumption?)