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Thursday, May 23, 2024

Burjeel Holdings, Abu Dhabi: 47% Net Profit Surge, Dh2.2B Revenue

Burjeel Holdings, Abu Dhabi: Impressive Growth in H1 2023 Abu Dhabi-based Burjeel Holdings reported a remarkable 47% YoY increase in net profit, reaching Dh225 million, and a 13.9% YoY rise in revenue, hitting Dh2.2 billion in the first half of 2023.

The surge in revenue was attributed to increased patient footfall, driven by investments in new specialties and services. Total patient footfall saw an 11.2% rise, with over 2.9 million patients seen in the half-year period. Inpatient bed occupancy increased to 59%.

The company’s net profit growth was fueled by higher revenues, improved operational efficiencies, and reduced finance costs from ongoing debt reduction.

The board of directors declared an inaugural interim dividend of Dh95 million or Dh0.02 per ordinary share, and EBITDA rose by 12.7% to Dh467 million.

Burjeel Medical City, the flagship facility, delivered remarkable growth, recording a 34.5% revenue increase to Dh475 million, driven by substantial inpatient and outpatient footfall, with a significant 70.9% growth in total patient footfall in H1 2023.

The group’s expansion plans in Saudi Arabia through a joint venture with Leejam Sports Company gained substantial traction. Additionally, Burjeel secured a contract to operate and manage Al Dhannah Hospital, ADNOC’s largest healthcare facility in the Al Dhafra region.

Burjeel Holdings looks ahead with a positive outlook, focused on strategic geographic expansion, transformative and complex medical care alliances, and continuous enhancement of state-of-the-art infrastructure, positioning it as a premier referral hub in the region.

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