Burjeel reports double-digit revenue growth in Q1

ABU DHABI: Burjeel Holdings (Burjeel), a leading super-specialty healthcare services provider in Mena listed on the Abu Dhabi Securities Exchange (ADX), announced its financial results in accordance with International Financial Reporting Standards (IFRS) for the three-month period ended March 31, 2024.

Burjeel Holdings Group revenue grew to Dhs1.2 billion despite Ramadan starting earlier in March. EBITDA, ex-one-offs1 increased to Dhs260 million, reflecting ongoing investments in complex care.

Group net profit, ex-one-offs1 & taxes grew to Dhs141 million, underpinned by increased operational efficiencies and lower finance costs.

John Sunil, Chief Executive Officer of Burjeel Holdings, said: “Building on our impressive performance in 2023, Burjeel Holdings delivered another quarter of double-digit revenue growth despite the impact of an earlier start to Ramadan this March. At the same time, outstanding performance across our core business segments drove accelerated revenue and patient footfall results in the pre-ramadan period, which aligns with our full-year 2024 guidance. First-quarter adjusted EBITDA grew by 7.7 per cent, reflecting ongoing investments in complex care to unlock additional higher yield inpatient footfall. Adjusted net profit was up by 16.3 per cent, driven by robust revenue growth, increased operational efficiencies and lower finance costs.

Burjeel Holdings saw continued progress on its strategic ambitions to ramp up the Group’s highgrowth assets, expand its healthcare infrastructure and drive patient yields through the provision of highly specialized complex care.