ABU DHABI, UAE – Burjeel Holdings announced a 15.6 percent increase in annual revenue to US$1.2 billion (AED 4.5 billion), while net profit increased by 52.4 percent to US$147 million (AED 540 million) in 2023, supported by significant revenue growth, increased operational efficiencies, and reduced financing costs.
Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 17.7 percent to US$272 million (AED 1 billion) in 2023, with profit margin increasing to 22.8 percent, reflecting the subsequent change in the mix of services offered in the field of complex and highly specialised care, as well as the increase in growth assets.
Burjeel Holdings Group has made significant progress in its strategic ambitions to strengthen its assets to maintain high growth levels, expand its healthcare infrastructure, and increase patient revenue by providing advanced, highly specialized care.
The group continued to implement its geographic expansion strategy with the launch of the PhysioTherabia rehabilitation network in Saudi Arabia.
It opened eight new centers in March 2024 in Riyadh, Jeddah, Dammam, Khobar, and Yanbu which significantly expanded its geographical reach throughout the Kingdom, in addition to four leading physiotherapy centres that opened in Riyadh in 2023.
Burjeel Holdings plans to develop the PhysioTherapia network offerings with the aim of opening 60 centers by the end of 2025.
Burjeel Holdings’ expansion plan over the next two years also includes the launch of two specialized day surgery centres in Riyadh, which will then be expanded across the Kingdom to tap into the increasing demand for world-class medical care among resident and tourist populations.
Dr Shamsheer Vayalil, Founder and Non-Executive Chairman of Burjeel Holdings, said, “Burjeel’s recent investment in state-of-the-art Da Vinci robotic surgical system and Novalis accreditation for its radiation oncology practice are just two examples of our progress in innovation.”
John Sunil, Chief Executive Officer of Burjeel Holdings, said, “2023 has been another remarkable year of progress for Burjeel Holdings. Our robust top-line and bottom- line growth, as well as our impressive operational performance, demonstrated the success of our strategy.”
He said, “Burjeel Holdings delivered revenue of US$1.2 billion (AED 4.5 billion), up 16 percent from the previous year, and EBITDA of US$272 million (AED 1 billion), up 18 percent. Our flagship facility, Burjeel Medical City, recorded an impressive 37 percent revenue growth, demonstrating our super-specialty segment’s strength.”
He added, “The group’s total patient footfall substantially increased by 9 percent, reflecting our investment in advanced care and our ability to drive cross-group referrals.”