Earnings Report

Burjeel Holdings

H1 26

1. Company Overview & Earnings Context

Burjeel Holdings PLC is one of the UAE's leading healthcare providers, operating a network of hospitals, medical centers, pharmacies and specialized healthcare facilities across the UAE and Oman. Listed on the Abu Dhabi Securities Exchange (ADX), the Group continues to expand its presence through advanced clinical capabilities, digital healthcare initiatives and strategic partnerships. During H1 2026, Burjeel delivered resilient financial performance despite a challenging regional environment, supported by strong patient growth, expanding specialized healthcare services, higher operating cash flows and continued operational efficiencies. The company also strengthened its financial flexibility through its inaugural USD 500 million Sukuk issuance and continued investing in long-term growth initiatives.

2. Financial Performance Snapshot

Revenue: AED 2.79 Billion (+4.4% YoY)
Operating Profit: AED 298.17 Million (+39.5% YoY)
Profit Before Tax: AED 227.16 Million (+9.2% YoY)
Net Profit: AED 202.26 Million (+8.2% YoY)
Operating Cash Flow: AED 404.52 Million (+76.8% YoY)
Earnings Per Share (EPS): AED 0.04 (unchanged YoY)

Compared with H1 2025:

Revenue increased 4.4% to AED 2.79 billion.
Operating profit increased 39.5% to AED 298.17 million.
Profit before tax increased 9.2% to AED 227.16 million.
Net profit increased 8.2% to AED 202.26 million.
Operating cash flow increased 76.8% to AED 404.52 million.
Earnings per share remained at AED 0.04.

3. Operational Highlights & Key Metrics

Total Assets: AED 6.81 Billion
Total Equity: AED 2.22 Billion
Cash & Short-Term Deposits: AED 223.98 Million
Property & Equipment: AED 2.08 Billion
Right-of-Use Assets: AED 1.03 Billion
Interest-Bearing Loans & Borrowings: AED 1.88 Billion
Net Leverage: 1.8x
Patients Served: 3.7 Million
Robotic Surgeries Performed: 1,075 (Since Inception)
Multi-Organ Transplants: 86 (Since Inception)

4. Key Performance Drivers

Burjeel's H1 2026 performance was supported by strong patient growth, with more than 3.7 million patients treated during the period, alongside continued expansion of specialized healthcare services and community-based medical centers. Underlying profitability improved through better procurement controls, disciplined workforce management and operating leverage from recently commissioned assets. The Group also generated significantly stronger operating cash flows while successfully completing its inaugural USD 500 million Sukuk, strengthening financial flexibility to support future expansion. During the period, Burjeel expanded its oncology, transplant, rehabilitation and specialized outpatient capabilities while launching new medical centers and strengthening strategic clinical partnerships.

5. Outlook & Forward Guidance

Management remains focused on delivering sustainable long-term growth through continued investment in advanced clinical care, research, medical education, digital transformation and AI-enabled healthcare. The company expects favorable healthcare demand, continued expansion of its specialized services and disciplined capital allocation to support future growth. Burjeel also believes its strengthened balance sheet, improved financial flexibility and resilient operating model position the Group well to capitalize on long-term opportunities across the regional healthcare sector.

6. Investor Takeaway

Burjeel Holdings delivered another resilient first-half performance, combining steady revenue growth with improving operating profitability and strong cash generation despite a challenging operating environment. Supported by growing patient volumes, expanding specialized healthcare services, robust operating cash flow and continued investment in clinical excellence, the Group remains well positioned to drive sustainable long-term growth and create value for shareholders.