EBITDA rose 13.4% year-on-year to $65.8 million in the first quarter of this year.
Burjeel Holding said that despite the increase in personnel costs due to the strategic plan to recruit specialist doctors and invest in state-of-the-art facilities, the group’s EBITDA margins remained stable at 22.3%.
First-quarter 2023 net income grew 43.4% year-on-year to $33 million, driven by higher revenue, improved operating efficiencies and lower funding costs after debt reduction.
Revenues from the hospital segment accounted for 88.3% of the group’s total revenue during the period, and revenues from the hospital and medical center segments increased by 10.9% and 24.8%, respectively, and the Hospital sector EBITDA increased by 21.7%. percent to $58.7 million, due to higher patient numbers and a lower provision for expected credit losses.
The hospital sector EBITDA margin also improved slightly to 22.5% in the first quarter of 2023 from 20.5% in the first quarter of 2022.
The medical center segment experienced a 43.5% increase in EBITDA to $8.3 million, with revenue growing 24.8% to $29.1 million, while margin EBITDA increased from 24.00% 7% in the first quarter of 2022 to 28.4% in the first quarter of 2022. first quarter of 2023.
Regarding its future prospects, the company said that it will continue its expansion in Saudi Arabia through a joint venture with Leejam Sports Company and also plans to add more than 120 new hospital beds. and five new medical centers across the Emirates. currently looking for opportunities. International to provide management and operations services for healthcare facilities.
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