Baladna

Baladna Q.P.S.C

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Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (QAR)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	1.27B	1.15B	1.06B	0.99B	0.77B
Cost of Revenue	994.48M	930.19M	924.61M	844.61M	628.64M
Gross Profit	273.36M	215.04M	132.15M	141.01M	144.32M
SG&A	176.69M	167.36M	162.34M	173.66M	164.57M
Operating Expenses	83.65M	53.31M	44.74M	56.03M	36.69M
Operating Income	189.71M	161.73M	87.41M	84.98M	107.63M
Interest Income	—	—	2.28M	11.45M	—
Interest Expense	-78.47M	-58.92M	-68.12M	-59.99M	-38.43M
Other Income/Expense	-35.79M	—	—	-0.10M	-0.30M
Pretax Income	540.07M	186.19M	110.00M	81.63M	134.46M
Income Tax	1.29M	0.89M	0.61M	1.01M	0.63M
Net Income	539.74M	185.01M	109.63M	80.61M	133.84M
EBITDA	329.45M	285.42M	217.84M	212.74M	220.62M
EBIT	189.71M	161.73M	87.41M	84.98M	107.63M
EPS (Basic)	0.25	0.09	0.05	0.04	0.06
EPS (Diluted)	0.25	0.09	0.05	0.04	0.06
DPS	—	—	0.06	—	0.05
Margins & Efficiency
Gross Margin %	+21.6%	+18.8%	+12.5%	+14.3%	+18.7%
EBITDA Margin %	+26.0%	+24.9%	+20.6%	+21.6%	+28.5%
Net Margin %	+42.6%	+16.2%	+10.4%	+8.2%	+17.3%
Revenue & Income
Revenue	1.27B	1.15B	1.06B	0.99B	0.77B
Revenue Growth (YoY)	+10.7%	+8.4%	+7.2%	+27.5%	+2.8%
Interest & Investment Income	—	—	2.28M	11.45M	—
Gain (Loss) on Sale of Assets	196.93K	123.59K	57.87K	-186.99K	25.73K
Gain (Loss) on Sale of Investments	408.01M	37.96M	30.20M	-23.25M	10.83M
Currency Exchange Gain (Loss)	—	—	-3.33M	-0.18M	2.32M
Expenses & Provisions
Advertising Expenses	36.85M	31.04M	28.75M	28.56M	31.31M
Cost of Revenue	994.48M	930.19M	924.61M	844.61M	628.64M
Selling, General & Admin	176.69M	167.36M	162.34M	173.66M	164.57M
Operating Expenses	83.65M	53.31M	44.74M	56.03M	36.69M
Other Operating Expenses	-93.04M	-114.05M	-117.60M	-117.63M	-127.87M
Interest Expense	-78.47M	-58.92M	-68.12M	-59.99M	-38.43M
Other Non Operating Income (Expenses)	-35.79M	—	—	-0.10M	-0.30M
Asset Writedown	56.41M	45.30M	61.50M	68.90M	52.47M
D&A For EBITDA	139.74M	123.69M	130.42M	127.76M	112.99M
Profitability & Returns
Gross Profit	273.36M	215.04M	132.15M	141.01M	144.32M
Gross Margin	+21.6%	+18.8%	+12.5%	+14.3%	+18.7%
EBIT	189.71M	161.73M	87.41M	84.98M	107.63M
EBIT Margin	+15.0%	+14.1%	+8.3%	+8.6%	+13.9%
EBITDA	329.45M	285.42M	217.84M	212.74M	220.62M
EBITDA Margin	+26.0%	+24.9%	+20.6%	+21.6%	+28.5%
EBT Excluding Unusual Items	75.45M	102.82M	18.24M	36.17M	71.23M
Pretax Income	540.07M	186.19M	110.00M	81.63M	134.46M
Operating Income	189.71M	161.73M	87.41M	84.98M	107.63M
Operating Margin	+15.0%	+14.1%	+8.3%	+8.6%	+13.9%
Profit Margin	+42.6%	+16.2%	+10.4%	+8.2%	+17.3%
Net Income	539.74M	185.01M	109.63M	80.61M	133.84M
Net Income to Common	539.74M	185.01M	109.63M	80.61M	133.84M
Net Income Growth	+191.7%	+68.8%	+36.0%	-39.8%	-4.7%
Earnings From Continuing Ops.	538.78M	185.30M	109.39M	80.61M	133.84M
Minority Interest in Earnings	960.96K	-288.15K	239.42K	—	—
Income Tax Expense	1.29M	0.89M	0.61M	1.01M	0.63M
Effective Tax Rate	+0.2%	+0.5%	+0.6%	+1.2%	+0.5%
Per Share & Capital
EPS (Basic)	0.25	0.09	0.05	0.04	0.06
EPS (Diluted)	0.25	0.09	0.05	0.04	0.06
EPS Growth	+191.7%	+68.8%	+36.0%	-39.8%	-6.9%
Dividend Per Share	—	—	0.06	—	0.05
Shares Change (YoY)	—	—	—	—	0.02
Shares Outstanding (Basic)	2.14B	2.14B	2.14B	2.14B	2.14B
Shares Outstanding (Diluted)	2.14B	2.14B	2.14B	2.14B	2.14B
Dividend Growth	—	—	—	—	-22.4%
Free Cash Flow	11.25M	110.16M	-64.69M	-332.02M	-4.44M
Free Cash Flow Margin	+0.9%	+9.6%	-6.1%	-33.7%	-0.6%
Free Cash Flow Per Share	0.01	0.05	-0.03	-0.16	-0.00
Payout Ratio	+0.2%	+72.7%	+1.3%	+114.2%	+71.7%
Supplemental
Other Unusual Items	—	—	—	—	-87.20K

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (QAR)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	1.27B	1.15B	1.06B	0.99B	0.77B
Cost of Revenue	994.48M	930.19M	924.61M	844.61M	628.64M
Gross Profit	273.36M	215.04M	132.15M	141.01M	144.32M
SG&A	176.69M	167.36M	162.34M	173.66M	164.57M
Operating Expenses	83.65M	53.31M	44.74M	56.03M	36.69M
Operating Income	189.71M	161.73M	87.41M	84.98M	107.63M
Interest Income	—	—	2.28M	11.45M	—
Interest Expense	-78.47M	-58.92M	-68.12M	-59.99M	-38.43M
Other Income/Expense	-35.79M	—	—	-0.10M	-0.30M
Pretax Income	540.07M	186.19M	110.00M	81.63M	134.46M
Income Tax	1.29M	0.89M	0.61M	1.01M	0.63M
Net Income	539.74M	185.01M	109.63M	80.61M	133.84M
EBITDA	329.45M	285.42M	217.84M	212.74M	220.62M
EBIT	189.71M	161.73M	87.41M	84.98M	107.63M
EPS (Basic)	0.25	0.09	0.05	0.04	0.06
EPS (Diluted)	0.25	0.09	0.05	0.04	0.06
DPS	—	—	0.06	—	0.05
Margins & Efficiency
Gross Margin %	+21.6%	+18.8%	+12.5%	+14.3%	+18.7%
EBITDA Margin %	+26.0%	+24.9%	+20.6%	+21.6%	+28.5%
Net Margin %	+42.6%	+16.2%	+10.4%	+8.2%	+17.3%
Revenue & Income
Revenue	1.27B	1.15B	1.06B	0.99B	0.77B
Revenue Growth (YoY)	+10.7%	+8.4%	+7.2%	+27.5%	+2.8%
Interest & Investment Income	—	—	2.28M	11.45M	—
Gain (Loss) on Sale of Assets	196.93K	123.59K	57.87K	-186.99K	25.73K
Gain (Loss) on Sale of Investments	408.01M	37.96M	30.20M	-23.25M	10.83M
Currency Exchange Gain (Loss)	—	—	-3.33M	-0.18M	2.32M
Expenses & Provisions
Advertising Expenses	36.85M	31.04M	28.75M	28.56M	31.31M
Cost of Revenue	994.48M	930.19M	924.61M	844.61M	628.64M
Selling, General & Admin	176.69M	167.36M	162.34M	173.66M	164.57M
Operating Expenses	83.65M	53.31M	44.74M	56.03M	36.69M
Other Operating Expenses	-93.04M	-114.05M	-117.60M	-117.63M	-127.87M
Interest Expense	-78.47M	-58.92M	-68.12M	-59.99M	-38.43M
Other Non Operating Income (Expenses)	-35.79M	—	—	-0.10M	-0.30M
Asset Writedown	56.41M	45.30M	61.50M	68.90M	52.47M
D&A For EBITDA	139.74M	123.69M	130.42M	127.76M	112.99M
Profitability & Returns
Gross Profit	273.36M	215.04M	132.15M	141.01M	144.32M
Gross Margin	+21.6%	+18.8%	+12.5%	+14.3%	+18.7%
EBIT	189.71M	161.73M	87.41M	84.98M	107.63M
EBIT Margin	+15.0%	+14.1%	+8.3%	+8.6%	+13.9%
EBITDA	329.45M	285.42M	217.84M	212.74M	220.62M
EBITDA Margin	+26.0%	+24.9%	+20.6%	+21.6%	+28.5%
EBT Excluding Unusual Items	75.45M	102.82M	18.24M	36.17M	71.23M
Pretax Income	540.07M	186.19M	110.00M	81.63M	134.46M
Operating Income	189.71M	161.73M	87.41M	84.98M	107.63M
Operating Margin	+15.0%	+14.1%	+8.3%	+8.6%	+13.9%
Profit Margin	+42.6%	+16.2%	+10.4%	+8.2%	+17.3%
Net Income	539.74M	185.01M	109.63M	80.61M	133.84M
Net Income to Common	539.74M	185.01M	109.63M	80.61M	133.84M
Net Income Growth	+191.7%	+68.8%	+36.0%	-39.8%	-4.7%
Earnings From Continuing Ops.	538.78M	185.30M	109.39M	80.61M	133.84M
Minority Interest in Earnings	960.96K	-288.15K	239.42K	—	—
Income Tax Expense	1.29M	0.89M	0.61M	1.01M	0.63M
Effective Tax Rate	+0.2%	+0.5%	+0.6%	+1.2%	+0.5%
Per Share & Capital
EPS (Basic)	0.25	0.09	0.05	0.04	0.06
EPS (Diluted)	0.25	0.09	0.05	0.04	0.06
EPS Growth	+191.7%	+68.8%	+36.0%	-39.8%	-6.9%
Dividend Per Share	—	—	0.06	—	0.05
Shares Change (YoY)	—	—	—	—	0.02
Shares Outstanding (Basic)	2.14B	2.14B	2.14B	2.14B	2.14B
Shares Outstanding (Diluted)	2.14B	2.14B	2.14B	2.14B	2.14B
Dividend Growth	—	—	—	—	-22.4%
Free Cash Flow	11.25M	110.16M	-64.69M	-332.02M	-4.44M
Free Cash Flow Margin	+0.9%	+9.6%	-6.1%	-33.7%	-0.6%
Free Cash Flow Per Share	0.01	0.05	-0.03	-0.16	-0.00
Payout Ratio	+0.2%	+72.7%	+1.3%	+114.2%	+71.7%
Supplemental
Other Unusual Items	—	—	—	—	-87.20K