43.4% growth in the profits of “Barjeel” Holding during the first quarter

Abu Dhabi, May 9, “Barjeel” Holding announced that it achieved a net profit of 121.3 million dirhams, an increase of 43.4 percent year-on-year in the first quarter of this year, which indicates the improvement in the operational efficiency of the group and the strategic shift towards specialized and advanced services.
The company said, in a statement today, that revenues amounted to 1.1 billion dirhams, an increase of 11.6 percent year-on-year, driven by strong growth of 32.6 percent in the Burjeel Medical City business, while earnings before interest, taxes, depreciation and amortization amounted to Debt of 241.6 million dirhams, up 13.4 percent year-on-year, with EBITDA margin stable at 22.3 percent.
Outpatient and inpatient numbers saw strong increases of 16.5% and 26.9% respectively, mainly due to the Group’s investment in new specialties and enhanced utilization of assets.
Burjeel Medical City continued to achieve strong results, with an increase in the number of inpatients and outpatients, which led to a growth in its revenues by 32.6 percent .. The financial position of the group improved with the achievement of a net debt / EBITDA ratio of about 1.4 times at the end of the period, reflecting a decrease in debt from the previous quarter.
“Burjeel Holding delivered strong results during the first quarter of 2023, achieving strong net income and profit growth with significant operational and strategic progress. Revenue increased by 11.6 percent and net profit by 43, 4 percent year-on-year, reflecting particularly strong growth at the leading Burjeel Medical City hospital, which achieved a 32.6 percent increase in revenues thanks to higher numbers of outpatients and inpatients.”
Burjeel Holding has strong positive future aspirations supported by its business model, world-class facilities, and strategy to increase asset utilization and enhance patient returns.. The group has ample opportunity to expand its current assets, and is in a strong position that qualifies it to achieve significant growth with limited capital requirements.