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Burjeel Holdings PLC Reports Impressive Financial Performance for 2023

Burjeel Holdings PLC Reports Impressive Financial Performance for 2023

Burjeel Holdings PLC, a leading provider of super-specialty healthcare services in the MENA region, has disclosed its financial results for the fiscal year ending December 21, 2023. The company, listed on the Abu Dhabi Securities Exchange, revealed a substantial surge in net profit, soaring by 52.4 percent to Dh540 million. This remarkable growth is attributed to robust top-line expansion and optimized finance costs. Revenue also witnessed a notable uptick, climbing by 15.6 percent to Dh4.5 billion, driven by increased patient traffic and enhanced patient yield. EBITDA surged by 17.7 percent to Dh1.0 billion, reflecting the successful ramp-up of growth assets.

Dr. Shamsheer Vayalil, the Founder and Non-Executive Chairman of Burjeel Holdings, emphasized the company’s pivotal role in advancing healthcare standards in the Gulf region. He underscored the importance of forging enduring partnerships with leading institutions and medical practitioners to accelerate advancements in complex healthcare fields such as oncology, transplants, genetics, and neuroscience.

John Sunil, the Chief Executive Officer of Burjeel Holdings, highlighted the company’s investment in state-of-the-art infrastructure and recruitment of highly qualified medical professionals as key drivers of patient trust and operational success. He emphasized Burjeel’s commitment to increasing asset utilization, patient yield, and operational efficiencies to deliver exceptional value to its stakeholders.

In an interview, Sunil shed light on the factors contributing to Burjeel’s stellar performance in 2023. He attributed the company’s success to strategic initiatives aimed at expanding high-growth assets, enhancing healthcare infrastructure, and driving patient yield through specialized care. Sunil also emphasized Burjeel’s focus on digitization and network expansion to meet growing patient demand and improve operational efficiency.

Looking ahead to 2024, Burjeel Holdings has ambitious expansion plans, including the opening of a hospital in Dubai, day surgery centers in Al Ain and Al Dhafra, and a medical center in Abu Dhabi. The company also aims to launch physiotherapy centers and specialized day surgery centers in Saudi Arabia to cater to the increasing demand for world-class medical care.

In terms of financial performance, Burjeel Holdings achieved impressive net profit and EBITDA growth rates in 2023. The company remains committed to enhancing operational efficiency through technology adoption, strategic partnerships, and workforce development. Burjeel’s cash flow position improved significantly in 2023, driven by strong EBITDA growth and working capital optimization.

Looking ahead, Burjeel Group aims to further expand its integrated healthcare network in the UAE and Saudi Arabia while maintaining a prudent and capital-efficient growth strategy. The company expects revenue growth to remain robust in the mid-teens in 2024, with continued improvement in EBITDA margins. Burjeel remains optimistic about delivering superior returns to its shareholders through its focused growth strategy and commitment to excellence in healthcare delivery.

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