Emirates News Agency – Burjeel Holdings records AED355 million net profit

ABU DHBAI, 10th February, 2023 (WAM) — Burjeel Holdings PJSC, a leading healthcare services provider in the UAE and MENA region, listed on the Abu Dhabi Securities Exchange, today posted a net profit of AED 355 million , an increase of 52% over the previous year, demonstrating the Group’s ability to deliver on its revenue-enhancing strategy.

This follows the announcement of the Group’s preliminary financial results for the twelve and three months ending 31 December 2022.
According to the announcement, the group recorded revenue of AED 3.92 billion, up 17% year-on-year, driven by 125% growth.
Dr. Shamsheer Vayalil, Chairman of Burjeel Holdings, commented: “Our full year results are a testament to the dedication of our employees and their commitment to our vision of ensuring quality healthcare in the UAE and Oman. 2022 is a milestone year for Burjeel Holdings “One year, it welcomed new shareholders through its ADX listing and expanded our product offerings, particularly in our core markets for highly specialized and complex care. This momentum continues in 2023, as we announce Formed a joint venture with Leejam Sports to jointly build and operate a network of physiotherapy, rehabilitation and wellness centers in Saudi Arabia’s Leejam Club.With record earnings and a strong post-IPO balance sheet, the group is well-positioned to deepen its complex Nursing expertise, driving expansion into new markets, and improving utilization and patient benefits to accelerate growth.”

In fiscal year 2022, the group’s EBITDA increased by 13% year-on-year to AED 878 million, and the profit margin remained stable at 22.4%. Efficiency has been significantly improved through the continued expansion of Burjeel’s central laboratory, but due to investment in the recruitment of highly specialized surgeons and doctors, especially in Burjeel Medical City, the introduction of new services and products. These additions greatly enhance Burjeel’s capabilities and will further expand patient output and margins as volumes increase.

The overall group patient population increased by 15%. Hospital admissions grew by 17%, outpacing a 15% increase in outpatient admissions, reflecting the Group’s strategic focus on complex inpatient care. Both inpatient and outpatient growth were driven by the addition of growth assets and the addition of new services.