Burjeel Holdings reported a 97.4 per cent increase in first-half net profit before one-off items to Dh227 million, supported by higher patient volumes, stronger operating efficiency and the continued ramp-up of recently opened facilities.
Revenue increased 4.4 per cent year-on-year to Dh2.79 billion during the six months ended June 30, while patient visits rose 9.9 per cent to more than 3.7 million.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
Earnings before interest, taxes, depreciation and amortisation, excluding one-off items, climbed 24.6 per cent to Dh517 million.
The Abu Dhabi-listed healthcare group said performance strengthened during the second quarter as elective and complex procedures recovered. Quarterly revenue rose 3.7 per cent to Dh1.46 billion, while patient visits increased 12.4 per cent.
Second-quarter net profit excluding one-offs more than doubled to Dh171 million, from Dh76 million a year earlier, while adjusted EBITDA grew 35 per cent to Dh316 million.
Patient demand supports growth
Outpatient visits increased 10 per cent in the first half and 12.5 per cent during the second quarter, driven by recently opened facilities and higher demand across family medicine, paediatrics, obstetrics and gynaecology, fertility treatment and advanced diagnostics.
Inpatient volumes rose 7.2 per cent in the first half, supported by oncology, cardiology and gastroenterology services, as well as the recovery of high-acuity elective surgeries.
Burjeel performed 24,610 surgeries during the second quarter, an increase of 7.4 per cent from the same period last year.
Bed occupancy averaged 69 per cent across the group’s 1,784-bed network, while its physician base increased moderately to 1,801 doctors.
Dr Shamsheer Vayalil, Chairman and Chief Executive Officer of Burjeel Holdings, said the results reflected the resilience of the group’s integrated healthcare platform.
“Accelerating patient activity during the second quarter has further reinforced our confidence in the structural demand for high-quality, specialised healthcare across the region,” he said.
Hospital and medical centre earnings rise
The hospitals division, which accounted for 89 per cent of group revenue, recorded a 5.4 per cent increase in first-half revenue to Dh2.5 billion.
Adjusted EBITDA from hospitals rose 21.1 per cent to Dh562 million, while the margin improved to 22.5 per cent.
Burjeel Medical City recorded 58.3 per cent growth in second-quarter EBITDA and achieved a record margin of 26.3 per cent, supported by higher activity in complex procedures.
Revenue from medical centres increased 8.4 per cent to Dh248 million, while adjusted EBITDA from the segment rose 56.2 per cent to Dh28 million as more than 15 facilities continued to scale up.
Cash flow strengthens
Operating cash flow increased 76.8 per cent to Dh405 million, while free cash flow rose 36.4 per cent to Dh354 million.
Net leverage remained stable at 1.8 times, despite continued investment in expansion.
Burjeel also completed its inaugural $500 million sukuk in July under a $1.5 billion programme. The issuance was 3.2 times oversubscribed, with 61 per cent allocated to international investors.
The proceeds were used mainly to refinance existing debt, including the repayment of Dh1.6 billion in bank facilities.
During the period, the group expanded its network with a new medical centre in Dubai Silicon Oasis and a flagship Tajmeel aesthetics and wellness centre in Jumeirah.
It also advanced clinical services in oncology and transplantation, including liver and deceased-donor kidney procedures, while expanding partnerships in research, physician training and corporate healthcare.
Source: Khaleej Times