Group development²

Ottobock, the global market leader in human bionics, continued on its growth trajectory in the first quarter while significantly increasing its margin. Group core revenues increased by 4.4 percent to € 378.4 million (organic core growth: 5.1 percent).

Core EBITDA adjusted for extraordinary items increased by 11.8 percent to € 84.3 million. The underlying core EBITDA margin increased by 1.5 percentage points compared to the prior-year quarter to 22.3 percent due to positive effects from the product mix and from procurement initiatives. Scaling effects and stringent cost control, especially in administrative functions, also contributed to the positive margin development. Underlying net income increased by 13.1 percent to € 22.6 million (3 M 2025: € 20.0 million). Net income amounted to € 18.8 million compared to € 16.1 million in the prior-year quarter. This corresponds to earnings per share of € 0.30 (3 M 2025: € 0.27).

Free cash flow increased by 32.0 percent year-on-year to € 41.5 million (3 M 2025: € 31.5 million). The leverage ratio³ decreased to 2.2x from 2.3x at year‑end 2025, mainly driven by an improved underlying EBITDA and a very good cash generation.

"We have had a solid start to 2026. We have met our growth expectations and saw a strong profitability increase in the first quarter. At the same time, we have been consistently advancing our innovation agenda – including strategic investments in future technologies around the human-machine interface, such as at Blue Arbor Technologies. In doing so, we are strengthening our technological leadership and are further expanding the basis for sustainable growth”, says Oliver Jakobi, CEO of Ottobock SE & Co. KGaA.

Segment development (core business)

In the EMEA segment revenues increased by 8.1 percent to € 282.7 million in the first quarter of the year (3 M 2025: € 261.5 million). Besides solid organic growth in the B2C business, first Genium X4 deliveries to Ukraine contributed to this development. Organic revenue growth in the segment was 6.0 percent. Underlying segment EBITDA improved by 16.1 percent to € 65.2 million (3 M 2025: € 56.2 million). The underlying EBITDA margin was 23.1 percent compared to 21.5 percent in the prior-year quarter.

Segment revenues in the Americas decreased by 9.8 percent year-on-year to € 69.0 million (3 M 2025: € 76.4 million). Organic growth in the segment was -1.1 percent, mainly due to the exceptionally strong first quarter of 2025. In addition, a temporarily weaker order intake from a large customer and negative exchange rate effects from the US dollar had a negative impact. Underlying segment EBITDA decreased to € 12.9 million (3 M 2025: € 14.0 million). The underlying EBITDA margin, on the other hand, improved by 0.4 percentage points to 18.7 percent (3 M 2025: 18.3 percent).

The APAC segment revenues increased by 8.3 percent to € 26.7 million (3 M 2025: € 24.6 million). All business units contributed equally to the positive development. Organic growth in the segment was 13.9 percent. Underlying segment EBITDA improved by 17.1 percent to € 6.2 million (3 M 2025: € 5.3 million). The underlying EBITDA margin in the segment improved by 1.7 percentage points to 23.3 percent (3 M 2025: 21.6 percent).

Revenue by product category (core business)

In the Product & Components (B2B) business, revenues totaled € 213.5 million in the reporting period (3 M 2025: € 207.2 million). This corresponds to an increase of 3.0 percent compared to the same quarter of the previous year and organic growth of 5.5 percent. The increase in revenues is mainly due to sustained positive developments in the fields of prosthetics and neuro-orthotics with the Genium X4, Kenevo and C-Brace.

Revenues in the Patient Care (B2C) business increased by 6.1 percent to € 164.8 million (3 M 2025: € 155.3 million). This growth resulted from organic growth of 4.7 percent and from acquisitions of the Patient care companies Matton, Belgium and Northern Prosthetics, Australia.

"In addition to our innovation-driven growth, our stringent cost management and implementation of efficiency measures have a sustained positive impact: The quality of our earnings continued to improve in the first three months of the year, strengthening our financial flexibility for investments in innovation and growth. Overall, we confirm our guidance for the year as a whole," said Dr Arne Kreitz, CFO of Ottobock SE & Co. KGaA.

Guidance 2026 confirmed

Based on the solid business development in the first three months of this year, Ottobock confirms its forecast for the year as a whole. The organic growth in the core business is expected to be between 5.0 percent and 8.0 percent. Ottobock expects the underlying core EBITDA margin to be more than 26.5 %

¹ The core business comprises the product categories Products & Components (B2B) and Patient Care (B2C). The Products & Components (B2B) product category includes products and solutions for prosthetics, neuro-orthotics, digital orthotics and prosthetics (O&P) solutions, other products and services, and bionic exoskeletons. The Patient Care (B2C) product category encompasses the business of our global network of approximately 420 O&P patient care centers where we treat and support our users.

² The Ottobock Group consists of the core business and the non-core business. The non-core business includes products of subsidiaries or business units that have already been sold or disposed of, or whose business activities have been discontinued or whose divestiture has been resolved and whose disposal is to take place within the next 18 months, according to the respective decision.

³ Dynamic leverage ratio is defined as "net debt / adjusted EBITDA”.

Upcoming dates

• 19 May 2026 | Annual General Meeting

• 13 August 2026 | Publication of the half-year report January to June 2026

• 12 November 2026 | Publication of the quarterly statement January to September 2026