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Abu Dhabi: Burjeel Holdings’ net profit surges 47%, revenue hits Dh2.2 billion

The hospital recorded 70.9 per cent growth in total patient footfall in the first half of 2023

Published: Fri 4 Aug 2023, 11:03 AM

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Registering impressive growth in the first half of 2023, Abu Dhabi-headquartered Burjeel Holdings reported a 47 per cent year-on-year net profit at Dh225 million and revenue reaching Dh2.2 billion — a year-on-year increase of 13.9 per cent.

Announcing its financial results, the Abu Dhabi Securities Exchange, listed as the region’s leading healthcare provider attributed the increase in revenue to strong growth in the footfall of patients, which follows investments in new specialities and services. There has been an 11.2 per cent rise in total patient footfall, with more than 2.9 million patients seen in the half-year period. The inpatient bed occupancy increased to 59 per cent.

The company noted the surge in net profit was because of higher revenues, increased operational efficiencies and lower finance costs stemming from ongoing debt reduction. The group’s board of directors has confirmed a debut interim dividend of Dh95 million or Dh0.02 per ordinary share. Meanwhile, EBITDA increased by 12.7 per cent to Dh467 million.

Growth in patient footfall

John Sunil, CEO, Burjeel Holdings, underlined the group has performed 'remarkably well', achieving robust top-line and bottom-line growth while making significant strides in operational and strategic advancements.

“Burjeel Medical City, our flagship facility, continues to deliver remarkable growth, registering an impressive 34.5 per cent revenue increase to Dh475 million driven by substantial growth in inpatient and outpatient footfall.”

The hospital recorded 70.9 per cent growth in total patient footfall in the first half of 2023.

Sunil said the group’s expansion plans in Saudi Arabia with its first centres in the Kingdom through a joint venture with Leejam Sports Company have gained 'substantial traction' this year.

Recently, Burjeel also bagged a contract to operate and manage the 122-bed Al Dhannah Hospital — ADNOC’s largest healthcare facility in the Al Dhafra region.

“Our future growth will encompass further strategic geographic expansion, additional strategic alliances in the field of transformative and complex medical care and continuous enhancement of our state-of-the-art infrastructure. As a premier referral hub in the region, our expanding portfolio of services and focus on identifying unique opportunities in healthcare will be key drivers for our future growth,” Sunil underlined.

The group maintains a positive outlook underpinned by its differentiated business model, state-of-the-art infrastructure, and strategy to increase asset utilisation and patient yield.

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