Dubai: Burjeel Holdings treated more than 3.7 million patients during the first half of 2026 as higher demand for outpatient services, surgeries and complex medical care supported a 97.4% increase in net profit excluding one-off items.Net profit excluding one-offs reached Dh227 million during the six months ended June 30, while revenue increased 4.4% year on year to Dh2.79 billion.Patient visits grew 9.9% during the first half, with growth accelerating to 12.4% in the second quarter following a recovery in elective procedures and higher-acuity treatments.EBITDA excluding one-offs increased 24.6% to Dh517 million, supported by higher contributions from recently opened facilities and continued reductions in procurement, workforce and overhead costs.Hospital margins improveThe Hospitals segment generated Dh2.5 billion in first-half revenue, an increase of 5.4%, and accounted for 89% of group revenue.Hospital EBITDA excluding one-offs rose 21.1% to Dh562 million, while the margin improved to 22.5% from 19.6% a year earlier.Burjeel Medical City recorded a 58.3% increase in second-quarter EBITDA and achieved a record margin of 26.3%, supported by higher volumes and the return of more complex procedures.The Medical Centers segment reported an 8.4% increase in revenue to Dh248 million, driven by the continued expansion of more than 15 centres and a 28.9% increase in outpatient visits.Medical Centers EBITDA excluding one-offs increased 56.2% to Dh28 million during the first half.Reported revenue growth continued to be affected by the Unified Procurement Program introduced in August 2025, under which certain medicines are purchased directly by government authorities and Burjeel receives a fixed service fee.Revenue excluding the programme’s effect increased 9.1% during the first half and 8.6% during the second quarter.Operating cash flow reaches Dh405 millionOperating cash flow increased 76.8% to Dh405 million, reflecting improved profitability and lower working-capital outflows.Free cash flow rose 36.4% to Dh354 million, with free cash flow conversion reaching 72%.Net leverage remained stable at 1.8 times at the end of June despite continued investment in new facilities and clinical services.Burjeel completed a $500 million senior unsecured sukuk issuance on July 1 under its $1.5 billion sukuk programme.The issuance was 3.2 times oversubscribed, with international investors receiving 61% of the allocation.Proceeds were used primarily to repay Dh1.6 billion of bank facilities and reduce the group’s revolving credit facility with First Abu Dhabi Bank by Dh209 million.Nivetha Dayanand is Assistant Business Editor at Gulf News, where she spends her days unpacking money, markets, aviation, and the big shifts shaping life in the Gulf. Before returning to Gulf News, she launched Finance Middle East, complete with a podcast and video series.