Burjeel Holdings PLC Reports Financial Results for Mid-Year 2025

Burjeel Holdings PLC (“Burjeel” or “the Group”), a leading super-speciality healthcare services provider in MENA listed on the Abu Dhabi Securities Exchange, today announced its financial results by International Financial Reporting Standards (IFRS) for the three-month and six-month periods ended 30 June 2025.

Burjeel Holdings accelerated its strategic execution in Q2 2025 with a series of high-impact initiatives that deepened specialisation and broadened patient access. The Group expanded its advanced oncology network by integrating Dubai’s Advanced Care Oncology Centre and opening new Burjeel Cancer Institute (BCI) clinics in Al Ain, Sharjah, and Oman, thereby reinforcing its position as a regional leader in complex cancer care. The UAE’s first dedicated cancer pharmacy was also inaugurated, thereby strengthening the country's oncology support infrastructure.

In parallel, Burjeel launched a regional mental health platform through its joint venture Alkalma, opening four specialist mental health centres across the UAE and Saudi Arabia. This marked the first phase of a multi-year expansion strategy designed to address the rising demand for mental wellness services.

In Saudi Arabia, the Group acquired a central physiotherapy facility in Riyadh under the PhysioTherabia platform, adding scale and unlocking turnaround potential through secured government contracts.

Investments in operational resilience and access continued with the AED 170 million acquisition of the Medeor Hospital Dubai building, converting long-term lease obligations into ownership and enhancing cost structure flexibility.

The Group also expanded its primary care footprint with the launch of a new medical centre on Saadiyat Island, aligning with its growth strategy in high-yield urban catchments.

In medical innovation, Burjeel launched DOCKTOUR, a transformative healthcare logistics joint venture with AD Ports Group, aiming to redefine how medical services and infrastructure are delivered to underserved and remote communities.

Several specialised centres were introduced, including the region’s first Al Muderis Osseointegration Clinic for advanced limb reconstruction, a state-of-the-art Epilepsy Monitoring Unit, and expanded capabilities in rare diseases, haematology, and metabolic research.

Additionally, the Group continued its digital transformation with AI-powered diagnostics and led groundbreaking research in microgravity, aiming to transform care for patients with diabetes in space and on Earth.

John Sunil, Chief Executive Officer of Burjeel Holdings, said: “The second quarter delivered powerful results, with 19% revenue growth driven by a 12% increase in patient footfall and improved yield. EBITDA rose by 59%, accompanied by a margin uplift to 22%. This robust performance significantly strengthened the first-half outcome, underscoring Burjeel Holdings’ resilience and long-term sustainable growth.

“These results reflect tangible progress in key operational areas such as physician manpower optimisation, formulary management, and cost control, while our strategic focus on super-speciality care is beginning to yield measurable benefits, enhancing both revenue and profitability. We continue to invest in high-value services and next-generation care facilities to support long-term momentum.

Q2’25: Growth Delivered, Efficiency Embedded

Burjeel Holdings delivered strong top-line growth of 18.7% to AED 1,403 million in Q2’25, driven by a 12.1% increase in patient footfall, higher patient yield, and the continued ramp-up of newly launched facilities across the network. Revenue in H1’25 rose 12.2% to AED 2,677 million, with total patient visits reaching 3.4 million.

Oncology remained a core growth driver, with revenue rising 36.7% in Q2 '25 and 38.1% in H1 '25, underpinned by oncology network expansion and improved conversion rates in surgical and advanced therapies.

Other specialities also recorded solid gains in H1’25, including urology (+18%), emergency medicine (+17%), cardiology (+16%), and gastroenterology (+13%).

Inpatient footfall rose 17.7% in Q2’25, reflecting strong demand across key specialities and a ramp-up in elective surgeries post-Ramadan.

The Group performed 22,930 surgeries, representing an 18.7% increase, with momentum concentrated at Burjeel Medical City, Burjeel Speciality Hospital Sharjah, Lifecare Hospital Musaffah, and Burjeel Royal Hospital Al Ain. Bed occupancy improved to 69%, up from 65% a year ago, and averaged 69% in H1’25. Inpatient volumes rose 14.6% over the first half.

Outpatient footfall grew 12.0% in Q2’25, accelerating from 5.2% in Q1, driven by primary care and physiotherapy centres, along with robust demand in oncology, paediatrics, ophthalmology, and family medicine.

Utilisation improved to 68%, up from 65% in Q1 '25, enabled by the optimisation of hiring and scaling of clinical teams. Leading facilities included Burjeel Medical City, Lifecare Hospital Baniyas, and Burjeel Day Surgery Center Barari. In H1 '25, outpatient volumes increased by 8.6%.

EBITDA rose 59.4% to AED 306 million in Q2’25, fueled by strong revenue growth, enhanced physician productivity, and better performance across recently ramped-up assets.

This includes AED 72 million in gains from the derecognition of lease liability following the acquisition of Dubai Medeor Hospital.

The EBITDA margin expanded 5.6 p.p. to 21.8%. In H1’25, EBITDA increased 14.2% to AED 487 million, with a margin of 18.2%.

Net profit surged 128.9% to AED 148 million in Q2’25, reflecting margin expansion, enhanced operating leverage, and asset optimisation. In H1’25, net profit rose 10.6% to AED 187 million.

Hospitals Lead Growth, Medical Centers Accelerate

The Hospitals segment continued to drive Group performance, contributing 89% of total revenue in Q2’25. Revenue grew 17.3% to AED 1,245 million, supported by strong growth in patient volumes and sustained demand for complex care services.

Segment EBITDA rose by 40.6%, led by strong performance across key hospitals, including Burjeel Medical City, Burjeel Hospital Abu Dhabi, Burjeel Day Surgery Center Barari and Burjeel Royal Hospital Al Ain.

The Medical Centers segment also delivered exceptional growth, with Q2’25 revenue rising 36.8% to AED 121 million. This was driven by the successful ramp-up of over 45 new centres across the UAE and Saudi Arabia, expanding access to high-quality outpatient and physiotherapy services.

In H1’25, Medical Centers revenue increased 26.7% to AED 229 million, reflecting the Group’s strong momentum in scaling primary care.

BMC: Scaling Patient Base & Driving Efficiency Gains

Burjeel Medical City (BMC), the Group’s flagship facility, continued to be a key growth engine, achieving 14.7% growth in revenue to AED 333 million, driven by a 30.4% increase in patient volumes.

This performance was underpinned by a higher outpatient share, strong momentum in oncology, and robust post-Ramadan demand for minimally invasive and elective procedures. Bed occupancy improved to 68%, underscoring more substantial inpatient utilisation. Revenue from BMC in H1’25 increased 13.0% to AED 648 million.

BMC EBITDA rose 21.3% to AED 59 million in Q2’25, with the EBITDA margin improving to 17.6%. In H1’25, EBITDA grew 20.8% YoY to AED 112 million, with margin expansion of 1.1 p.p. to 17.3%.

Scale efficiencies and continued investment in super-speciality services supported profitability growth. BMC’s performance reinforces its strategic role as the Group’s key platform for complex care and future value creation.

Disciplined Leverage with Strong Cash Generation

Operating cash flow increased 8.1% YoY in H1’25, driven by improved operational performance and disciplined working capital management.

Maintenance CAPEX remained in line with guidance, while Growth CAPEX totalled AED 403 million, driven by strategic M&A activities and ongoing network expansion. The free cash flow (FCF) conversion rate improved to 54% in H1 '25.

The Group's net debt/pre-IFRS 16 LTM EBITDA stood at 1.8x as of June 30, 2025, reflecting the acquisition of the Dubai hospital building. This strategic transaction enhanced asset ownership while optimising the Group’s cost structure.

The Group maintains a strong and flexible balance sheet, enabling continued investment in growth opportunities. With no contingent off-balance sheet liabilities, management remains focused on optimising capital structure through debt reduction, refinancing, and tenure extension.

Dividend Policy

Burjeel Holdings is committed to delivering value to stakeholders while ensuring alignment with strategic growth plans. The Group maintains a dividend policy with a payout range of 40–70% of net income, depending on investment needs for expansion.

In May 2025, the Group declared a full-year dividend of AED 170 million for fiscal year 2024, representing 47% of the net profit. This reflects strong profitability and a balanced approach to rewarding shareholders while supporting long-term growth.