Burjeel reports 97% surge in H1 profit to Dh227 million on stronger patient demand.
Burjeel Holdings reported a 97.4 per cent rise in first-half net profit before one-off items, reaching Dh227 million, driven by increased patient volumes, improved operational efficiency and the continued growth of newly launched facilities.
The healthcare group’s revenue grew 4.4 per cent year-on-year to Dh2.79 billion for the six months ending June 30, while patient visits climbed 9.9 per cent to more than 3.7 million.
Earnings before interest, taxes, depreciation and amortisation (EBITDA), excluding one-off items, increased 24.6 per cent year-on-year to Dh517 million, reflecting stronger operational performance and improved profitability.
The Abu Dhabi-listed healthcare group reported stronger performance in the second quarter, driven by a recovery in elective and complex procedures. Quarterly revenue increased 3.7 per cent to Dh1.46 billion, while patient visits climbed 12.4 per cent.
Second-quarter net profit excluding one-off items more than doubled to Dh171 million, compared with Dh76 million in the same period last year. Adjusted EBITDA also rose 35 per cent to Dh316 million.
Patient demand drives growth
Outpatient visits grew 10 per cent in the first half and 12.5 per cent in the second quarter, supported by newly opened facilities and rising demand for family medicine, paediatrics, obstetrics and gynaecology, fertility services and advanced diagnostics.
Inpatient volumes increased 7.2 per cent during the first half, boosted by growth in oncology, cardiology and gastroenterology services, along with a recovery in high-acuity elective surgeries.
The group carried out 24,610 surgeries in the second quarter, marking a 7.4 per cent increase compared with the same period a year earlier.
Average bed occupancy stood at 69 per cent across Burjeel’s 1,784-bed network, while the number of doctors rose modestly to 1,801.
Dr Shamsheer Vayalil, Chairman and Chief Executive Officer of Burjeel Holdings, said the results reflected the strength and 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.
Hospitals and medical centres report stronger earnings
The hospitals division, which contributed 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, with the margin improving to 22.5 per cent.
Burjeel Medical City posted a 58.3 per cent increase 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 grew 8.4 per cent to Dh248 million, while adjusted EBITDA for the segment surged 56.2 per cent to Dh28 million as more than 15 facilities continued to expand operations.
Cash position improves
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 steady at 1.8 times despite continued investment in expansion.
In July, Burjeel completed its first $500 million sukuk issuance under a $1.5 billion programme. The offering was 3.2 times oversubscribed, with international investors accounting for 61 per cent of allocations.
The proceeds were primarily used to refinance existing debt, including the repayment of Dh1.6 billion in bank facilities.
During the period, Burjeel expanded its network with the opening of a medical centre in Dubai Silicon Oasis and a flagship Tajmeel aesthetics and wellness centre in Jumeirah.
The group also continued to strengthen specialised healthcare services in oncology and transplantation, including liver and deceased-donor kidney procedures, while expanding collaborations in research, physician training and corporate healthcare.
