Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
Burjeel Holdings, the Abu Dhabi Securities Exchange-listed healthcare group, reported a 42.1% increase in net profit, excluding one-off items, to Dh412 million for the first nine months of 2026, compared with Dh290 million in the corresponding period last year.
The group's third-quarter net profit, excluding one-off items, rose 5.7% year-on-year to Dh185 million, from Dh175 million, according to its financial results announced on Wednesday.
Earnings before interest, taxes, depreciation and amortisation (EBITDA), excluding one-off items, increased 21.3% to Dh892 million during the first nine months, compared with Dh735 million a year earlier.
Third-quarter EBITDA rose 17% to Dh375 million, with the EBITDA margin improving to 24.4% from 22.5% in the same quarter last year.
Revenue for the first nine months increased 5.6% to Dh4.329 billion, compared with Dh4.099 billion in the corresponding period of 2025.
Revenue growth accelerated to 7.9% in the third quarter, reaching Dh1.535 billion, compared with Dh1.422 billion a year earlier.
The company attributed the improved performance to higher patient volumes, greater utilisation of its healthcare facilities and cost-management measures.
Speaking to Aletihad, Dr Shamsheer Vayalil, Chairman and CEO of Burjeel Holdings, explained that the one-off items excluded from the adjusted profit figures primarily related to impairment charges associated with the wind-down of the group's PhysioTherabia operations in Saudi Arabia and the planned relocation of Burjeel Hospital for Advanced Surgery in Dubai.
These charges were partially offset by a gain arising from the derecognition of a lease liability, he added.
Sources within the hospital group said the net impact of these one-off items was approximately Dh26 million. Reported EBITDA for the first nine months stood at Dh866 million, compared with Dh892 million excluding one-off items. Similarly, reported net profit was Dh386 million, against Dh412 million excluding these adjustments.
“These adjustments allow for a clearer assessment of the group's underlying operating performance and profitability,” Dr Vayalil said.
On the company's financial outlook, Dr Vayalil said its medium-term guidance remained unchanged, targeting a low-double-digit compound annual growth rate (CAGR) in revenue and EBITDA margins in the low-20% range.
“Looking ahead to 2027, we expect higher utilisation, expansion of specialised care, and growing contributions from newer facilities to support continued growth and margin improvement,” he added.
Total patient footfall rose 13.1% to 5.8 million during the first nine months, with growth accelerating to 19.3% in the third quarter.
Outpatient visits increased 13.2% during the nine-month period and 19.3% in the third quarter, while inpatient volumes grew 10.6% and 17.3%, respectively.
The group performed 25,840 surgeries during the third quarter, an increase of 10.6% year-on-year, reflecting greater demand for specialised and elective procedures.
Bed occupancy reached 73% during the first nine months across the group's network of 1,754 beds, while outpatient utilisation rose to 72%.
Commenting on the operating performance, Dr Vayalil said the third-quarter results reflected improving business momentum and patient activity across the group's healthcare network.
“Our third-quarter performance reflects strong business momentum, with accelerating revenue growth and improved operating leverage driven by a rebound in patient activity across our healthcare network,” he said.
Burjeel Holdings also expanded its capabilities in complex medical care, including organ transplantation, gene therapy and precision oncology.
The group performed 31 kidney and liver transplants during the first nine months, taking the cumulative number of such procedures to 98 since the inception of its transplant programme.
Among other clinical milestones, Burjeel Medical City administered advanced gene therapy to an 11-year-old patient with Duchenne muscular dystrophy, while Burjeel Cancer Institute became the first institution globally to administer camizestrant in a clinical care setting using ctDNA-guided testing.
The company also introduced AI-powered cardiac catheterisation laboratories in Abu Dhabi and Sharjah and expanded access to specialised diagnostic and urgent care services.
Burjeel opened seven medical centres and clinics across the UAE and Oman during the first nine months, strengthening its community-based healthcare network.
The group also established dedicated affordable healthcare and day surgery platforms, bringing its Medeor, LLH and Lifecare facilities under a more integrated operating structure.
Dr Vayalil said the initiatives would support the company's next phase of growth.
“The consolidation of our affordable healthcare businesses and the establishment of a dedicated day surgery platform will enable us to sharpen operational focus, strengthen execution, and accelerate growth,” he said.
On its debt position, Burjeel Holdings said net leverage improved to 1.4 times EBITDA at the end of September 2026, compared with 1.8 times at the end of 2025.
Outstanding borrowings included Dh1.828 billion under its $500 million sukuk issued in July and Dh58 million drawn from a revolving credit facility provided by First Abu Dhabi Bank. The sukuk, carrying a 7% profit rate and maturing in July 2031, was primarily used to refinance existing bank loans. The company also had Dh692 million in undrawn committed credit facilities available to support operations and future expansion.
Burjeel Holdings operates an integrated healthcare network across the UAE, Oman and Saudi Arabia, comprising 96 assets, including 19 hospitals, 44 medical centres, physiotherapy facilities, pharmacies and allied healthcare services.
