MENA Newswire News Desk: Burjeel Holdings PLC, listed on the Abu Dhabi Securities Exchange (ADX), reported robust financial growth for the third quarter of 2024, as per results prepared under International Financial Reporting Standards (IFRS). The Group’s revenue reached AED 1.3 billion, supported by a significant rise in patient footfall and improved patient yield.
The company’s cumulative patient numbers rose to 4.8 million for the nine-month period ending September 30, 2024, marking a notable expansion in Burjeel’s reach and customer base. Burjeel’s strategic focus on high-growth sectors such as oncology and international patient programs, combined with network expansion efforts, contributed to this momentum despite elevated direct costs. The company’s net profit before taxes increased as well, signaling effective financial management in the face of ambitious growth initiatives.
Burjeel reported an EBITDA growth of 5.1% for Q3 2024, reaching AED 273 million. This growth trajectory was achieved despite the impact of increased direct costs from ongoing investments in oncology and new asset ramp-ups. Higher overheads also reflect intensified marketing efforts to promote Burjeel’s international patient programs and to support regional expansion.
CEO John Sunil emphasized Burjeel’s achievements in enhancing market penetration across its regional network. “During the first nine months of 2024, Burjeel Holdings achieved strong market penetration through expansion and the ramp-up of our regional network. In the third quarter, revenue growth accelerated to 14%, driven by a 12% rise in patient footfall and improved yield,” he noted, adding that the company’s focus on super-specialty services and strategic investments would fuel continued growth.
Aligned with the UAE’s healthcare goals, Burjeel plans to launch nine community-based primary care clinics, enhancing accessibility and strengthening its network through increased patient referrals.