Burjeel Holdings Reports Strong Q1 2024 Results
Burjeel Holdings PLC announced its financial results for the three-month period ended March 31st, 2024. The company delivered impressive growth, with revenue increasing by 11.1% to AED 1.2 billion compared to the same period in 2023.
Revenue Growth: Revenue increased by 11.1% to AED 1.2 billion.
Group EBITDA, excluding one-offs, increased to AED 260 million.
Group net profit, excluding one-offs and taxes, grew to AED 141 million.
Continued expansion with the opening of 13 new PhysioTherapia centers in Saudi Arabia, bringing the total to 17.
Expanded insurance partnerships with leading providers in Saudi Arabia.
Burjeel Holdings demonstrated strong financial performance in the first quarter of 2024. Revenue growth was driven by increased operational efficiencies and lower finance costs. The company also benefited from investments in complex care, which led to higher patient yields.
The company continued its strategic expansion with the opening of 13 new PhysioTherapia centers in Saudi Arabia. This brings the total number of centers in the Kingdom to 17, putting the company well on track to reach its target of 60 centers by the end of 2025. Burjeel Holdings also expanded its insurance partnerships with leading providers in Saudi Arabia, further strengthening its position in the market.
Burjeel Holdings remains optimistic about its future prospects. The company reiterates its 2024 guidance of delivering mid-teens revenue growth and improving EBITDA margin. The company also plans to introduce new value-based products in Saudi Arabia and additional advanced healthcare service lines in the UAE.