Burjeel Holdings reports strong Q1-23 net profit growth of 43.4%

Burjeel Holdings reports strong Q1-23 net profit growth of 43.4%

ABU DHABI - Burjeel Holdings PLC (“Burjeel” or “the Group”), a leading Healthcare Services Provider in the UAE and MENA listed on the Abu Dhabi Securities Exchange, today announced its financial results for the three-month period ended 31 March 2023.

The group secured net profit of AED121.3 million, up 43.4% % y-o-y, demonstrating its improved operational efficiency and a strategic shift towards high-end and specialized services.

A Revenue of AED 1.1 billion was recorded, up 11.6% y-o-y, driven by 32.6% topline growth at our flagship hospital Burjeel Medical City (BMC).

According to a group statement, an EBITDA of AED 241.6 million, was recorded, up 13.4% y-o-y, with a stable EBITDA margin of 22.3%

The statement confirmed a Robust financial position with Net Debt/ EBITDA of 1.4x at the end of the reference period, reflecting a debt reduction from the previous quarter.

John Sunil, Chief Executive Officer of Burjeel Holdings, said:“Burjeel Holdings delivered an impressive result for the first quarter of 2023, achieving strong growth both in top-line and bottom-line whilst making significant operational and strategic progress. Revenue increased by 11.6% year-on-year and net profit by 43.4% reflecting particularly strong growth at our flagship Burjeel Medical City hospital where revenue increased by 32.6% through strong growth