Net profit for Burjeel Holdings rises to AED 540 million in 2023, marking a 52.4% increase
In a recent announcement, Burjeel Holdings PLC reported a significant increase in annual revenue and net profit for 2023. The company’s revenue grew by 15.6 percent to AED 4.5 billion, while net profit saw a 52.4 percent increase to AED 540 million. This growth was attributed to higher revenue, improved operational efficiencies, and lower financing costs.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) also rose by 17.7 percent to AED 1 billion, with a profit margin of 22.8 percent. This was reflective of the strategic shift towards offering complex and highly specialized care services, as well as expanding growth assets.
Burjeel Holdings Group has been focusing on strengthening its assets and expanding its healthcare infrastructure to provide advanced specialized care. The company has been implementing a geographic expansion strategy, with the recent launch of the PhysioTherabia rehabilitation network in Saudi Arabia. The network now includes 8 new centers in key cities like Riyadh, Jeddah, Dammam, Khobar, and Yanbu, with plans to open a total of 60 centers by the end of 2025.
Additionally, Burjeel Holdings is set to launch two specialized day surgery centers in Riyadh and expand them across the Kingdom of Saudi Arabia to meet the growing demand for high-quality medical care among residents and tourists.
Dr. Shamsheer Vayalil, the Founder and Non-Executive Chairman of Burjeel Holdings, highlighted the company’s recent investments in innovative technologies like the Da Vinci robotic surgical system and Novalis accreditation for radiation oncology practice.
Chief Executive Officer John Sunil expressed pride in Burjeel Holdings’ performance in 2023, noting the impressive revenue and EBITDA growth. He emphasized the success of the company’s strategy and its ability to drive cross-group referrals, with total patient footfall increasing by 9 percent.
Overall, Burjeel Holdings has demonstrated strong financial growth and operational performance, as it continues to expand its services and infrastructure to meet the evolving needs of the healthcare industry.
