Friday, 25 August 2023
Ottobock records revenue growth of 17 percent in the first half of 2023, Underlying EBITDA increased by 16 percent in the same period
For full-year 2023, Ottobock expects to exceed the revenue mark of EUR 1.5 billion for the first time in its history
Consistent expansion of patient care network with two acquisitions in Turkey
Ottobock, the global healthtech company and market leader for prosthetic mobility solutions, successfully continued its sustainable growth trajectory in the first half of 2023. The company could significantly increase both revenue and Underlying EBITDA. Accordingly, the company was even able to exceed its successful development from the financial year 2022.
The company improved its revenue in the first half of 2023 by 17 percent year-on-year to a total of EUR 719 million (previous year: EUR 616 million). During the same period, Ottobock increased its operating profit (Underlying EBITDA) by 16 percent to EUR 121 million (previous year: EUR 104 million). The operating EBITDA margin proved to be stable in the first half of 2023, at around 17 percent (previous year: 17 percent).
For the full year, the company expects to exceed the EUR 1.5 billion revenue mark for the first time in its history.
“We currently expect that 2023 may well be the most successful financial year in Ottobock's history,” says Professor Hans Georg Näder, owner and Chairman of the Board of Ottobock SE & Co. KGaA. “The strong development in revenue and earnings emphasizes our sustainable growth trajectory, and we continue to consistently expand our position as the world's largest patient care provider with strategic acquisitions.
Expansion of the global patient care network
With more than 400 patient care centers, Ottobock already operates the largest global network for customized orthopaedic treatment and rehabilitation of its patients.
Ottobock continues to successfully expand its global patient care network with targeted investments. As part of this strategy, the company acquired majority stakes in the Turkish patient care company Proklinik as well as the Turkish orthopaedic technology company Bilimop, as of 24 August 2023.
Oliver Jakobi, CEO of Ottobock, says: “Even in today's challenging economic environment, we are very well positioned and, thanks to our stable growth, able to seize well-selected opportunities and drive the strategic expansion of our global technology and care offerings. Together with Proklinik and Bilimop, we will expand our patient care network in Turkey both in terms of quality and quantity and we will also enhance our neurorehabilitation offering.”
Going forward, the Ottobock Group will own 51 percent of Proklinik. Proklinik operates three patient care locations in the Istanbul area with currently 35 employees and has already treated more than 12,000 patients. Ottobock now also holds 70 percent of shares in the Turkish orthopaedic technology company Bilimop. The company employs 33 people in Ankara and has treated more than 10,000 patients since its foundation. Both companies will initially continue to operate under co-branding.
Ottobock has already worked successfully with these partners in the past and has, among other things, developed a comprehensive care concept for diabetes with their cooperation. With its investment in Turkey, Ottobock is now expanding its local footprint substantially.