Burjeel Holdings reported a 4.4 percent rise in first-half revenue on Thursday as higher patient volumes and demand for specialized healthcare services lifted earnings, while adjusted net profit nearly doubled.
Revenue for the six months ended June 30 reached AED2.794 billion ($761 million), while EBITDA excluding one-off items increased 24.6 percent to AED517 million ($141 million).
Net profit excluding one-off items rose 97.4 percent year-on-year to AED227 million ($62 million).
The healthcare provider said it recorded more than 3.7 million patient visits during the first half, up 9.9 percent from a year earlier. Second-quarter patient visits increased 12.4 percent, supported by stronger demand for specialized services and a recovery in elective and high-acuity procedures.
Excluding the impact of the Unified Procurement Programme, normalized revenue increased 9.1 percent in the first half and 8.6 percent in the second quarter. Inpatient revenue rose 11.9 percent in the second quarter, while inpatient volumes increased 7.2 percent during the first half.
The group performed 24,610 surgeries in the second quarter, up 7.4 percent from a year earlier.
Its hospitals division generated AED2.501 billion ($681 million) in revenue, accounting for 89 percent of group revenue, while the medical centres business reported revenue of AED248 million ($68 million).
Operating cash flow rose 76.8 percent to AED405 million ($110 million), while free cash flow increased to AED354 million ($96 million).
Burjeel maintained a net leverage ratio of 1.8 times at the end of June. On July 1, it completed a $500 million sukuk issuance under its $1.5 billion sukuk programme, using the proceeds to refinance existing debt. Outstanding debt stood at AED1.915 billion ($521 million) at the end of July, with AED672 million ($183 million) of committed undrawn credit facilities available.
Chairman and Chief Executive Dr. Shamsheer Vayalil said the company would continue investing in advanced clinical care, research, medical education, digital transformation and AI-enabled healthcare to support long-term growth.
