Burjeel Holdings’ H1 net profit rises 5.9% to Dhs238m

ADX-listed Burjeel Holdings has reported a 10.4 per cent increase in revenue to Dhs2.4bn for H1 2024.

The company attributed this growth to a rise in both outpatient and inpatient services, with revenues from these segments increasing by Dhs137m and Dhs82m, respectively.

Group earnings before interest, taxes, depreciation, and amortisation (EBITDA) excluding one-off items, rose by 2.2 per cent to Dhs477m. This modest increase came despite higher direct costs, as the company continues to invest in its oncology services to meet the anticipated growth in patient demand.

Net profit, excluding one-offs and taxes, climbed 5.9 per cent to Dhs238m, driven by the overall revenue growth and reductions in finance and amortisation costs, the company said.

Burjeel Holdings remains focused on expanding its oncology services, which are expected to play a key role in boosting future revenue streams.

We are pleased to announce our H1 2024 financial results, delivering double-digit revenue growth, driven by a strong increase in patient footfall. #BurjeelHoldings #FinancialResults pic.twitter.com/dboT1aV3xX

— Burjeel Holdings (@BurjeelHoldings) August 8, 2024

Areas of focus for Burjeel Holdings

John Sunil, CEO of Burjeel Holdings, said: “Burjeel Holdings delivered robust top-line growth, acceleration in patient footfall and continued market penetration. We also made significant progress against key strategic and operational milestones, with continued investments in super-speciality areas such as oncology and organ transplantation and expansion of our regional network. This has enabled the Group to meet robust domestic and international demand, which will translate into higher asset utilisation and patient yields.”

Sunil highlighted that cancer care remains one of the group’s key focus areas, with significant growth potential.

“Our recently launched advanced patient-centric cancer hub and first-of-its-kind advanced molecular diagnostics laboratory, as well as expanded partnerships in immunotherapy solutions, are just some examples of our innovative progress as we seek to transform cancer treatment and significantly improve patient outcomes.

“Our multi-organ and bone marrow transplant programs are gaining momentum, demonstrating Burjeel’s strong and unique capabilities, as well as considerable demand for complex care. Since our inaugural liver transplant in April, Burjeel Medical City has successfully performed a total of 10 such procedures. This includes the UAE’s first pediatric liver transplant and the first combined liver and kidney transplant, underscoring our capabilities in offering a full range of pediatric and adult multi-organ transplant services. Moreover, we are ramping up our bone marrow transplant program, having completed more than 141 procedures, 52 of which were pediatric,” he added.

Saudi Arabia is also a key focus of Burjeel’s long-term growth strategy. Sunil explained: “With the right mix of prominent partners, we aim to provide cost-efficient and unique healthcare solutions based on prevention, detection, and health risk management through a clinically integrated network in highly populated regions. This, combined with our upcoming day surgery units and fast-growing PhysioTherabia network, will solidify our position as a key player in the Saudi healthcare market.

“Burjeel is well-positioned to achieve strong growth and profitability, in line with our guidance. We believe that performance in the second half of 2024 will be driven by the rapid ramp-up of high-growth assets and high-yield services, as well as fast growth in international and domestic patient footfall.”