Group development²

Ottobock, the global MedTech champion and international market leader in human bionics, generated revenues of € 1,217.8 million in the first nine months of financial year 2025 (9 M 2024: € 1,164.5 million). Regarding the core business, this translates into revenue growth of 13.6 % to € 1,157.7 million (9 M 2024: € 1,019.3 million). Organic core growth before effects from currency and portfolio changes amounted to 11.5 %.

New product launches and positive developments in reimbursement, seven successful acquisitions as well as strategic investments contributed to the favorable development.

The group underlying EBITDA increased to EUR 289.6 million (9 M 2024: EUR 227.5 million). Core business generated growth of 29.4 % to EUR 281.1 million (9 M 2024: EUR 217.1 million). The underlying core EBITDA margin improved by 3.0 percentage points year-on-year to 24.3 %. In addition to strong growth, the main drivers were a favorable product mix as well as economies of scale and operational efficiency gains. Adjusted net income rose by 81.3 % to EUR 118.7 million (9 M 2024: EUR 65.5 million). Free cash flow increased by 55.0 % to EUR 172.8 million (9 M 2024: EUR 111.5 million).

Oliver Jakobi, CEO of Ottobock SE & Co. KGaA: "We continue on our profitable growth path – the combination of innovative products, targeted acquisitions and strategic investments in start-ups such as Phantom Neuro, Bionic Skins or Musclemetrix creates the basis for the next chapter in human-machine interface. Our innovative strength remains the key growth driver – the successful IPO now allows us to initiate the next phase of growth."

Segment development

The core business in the EMEA segment developed positively in the first nine months of the year. Segment core revenue increased by 13.2 % to € 828.4 million (9 M 2025: € 731.5 million). This was mainly driven by demand for new products such as Genium X4 and the expansion of the Taleo family. Investments in the Patient Care business had a positive impact as well. The underlying core segment EBITDA improved by 21.6 % to € 201.9 million (9 M 2024: € 166.1 million).

In the Americas segment, the core business generated revenue growth of 14.8 % to € 250.9 million (9 M 2024: € 218.6 million). This was mainly due to the launch of the mechatronic knee joint Genium X4 and the mechatronic neuro-orthosis C-Brace, as well as the reimbursement inclusion of Kenevo, a microprocessor-controlled knee joint for amputees with a low mobility grade. Underlying core segment EBITDA increased by 57.2 % to € 59.0 million (9 M 2024: € 37.5 million) due to strong organic growth and the associated economies of scale, as well as an advantageous product mix.

The core revenue in the APAC segment increased by 13.5 % to € 78.4 million (9 M 2024: € 69.1 million). The positive revenue development was mainly driven by strong demand for microprocessor-controlled knees (MPKs), the positive development of new launches and the acquisition of Northern Prosthetics in Australia. Underlying core segment EBITDA increased by 48.7 % to € 20.1 million (9 M 2024: € 13.5 million).

Dr Arne Kreitz, CFO of Ottobock SE & Co. KGaA: "The stringent implementation of our Excellence Program with a focus on cost and portfolio management shows results: Ottobock continues to grow at an above-average rate and improves its profitability sustainably. This will ensure us the financial flexibility we need to invest in the development of technologies of the future."

Forecast 2025

Based on the positive business performance in the first nine months of the current year, Ottobock specifies its full-year guidance for the Group. The core business is expected to grow in the upper half of 10.0% – 13.0% (including M&A activities). Organic core revenue growth is expected in the upper half to range between 9.0% – 12.0%. Underlying Core EBITDA margin is confirmed between 25.0% – 26.0%.

¹The core business encompasses the product categories Products and Components (B2B) and Patient care (B2C). Through Products and Components (B2B), we offer a range of products and solutions for prosthetics, neuro-orthotics, digital orthotics and prosthetics solutions, other products and services, as well as bionic exoskeletons. Patient Care (B2C) represents the business of our global network of around 400 O&P patient care clinics through which we treat and support the end-users and patients of O&P products.

²The Ottobock Group is comprised of the core and non-core business. The non-core business covers products from subsidiaries or business units for which a sale, divestiture or cessation of business activities has already taken place, or a decision has been made to implement such sale, divestiture or cessation within the next 18 months.

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