Ottobock publishes Annual Report 2025 | Preliminary figures confirmed | Dividend proposal of € 0.97 per share

Record result with double-digit growth

• Core revenues¹ up 11.7 percent to € 1.6 billion
• Underlying core EBITDA grows by 29.5 percent to € 415.3 million; underling core EBITDA margin reaches 26.0 percent
• Underlying net income rises by 83.2 percent to € 177.3 million
• Proposed dividend of € 0.97 per share confirms strategic payout ratio of 30–40 percent of underlying net income

Ottobock, the global market leader in human bionics, today published its final and audited financial figures 2025. The company had already communicated its preliminary financial figures 2025 and forecast for 2026 on 17 February 2026. Ottobock SE & Co. KGaA SE & Co. KGaA has been listed in the Prime Standard since 09 October 2025 and has been part of the SDAX and TecDAX since the end of 2025.

"The financial figures reflect the success of our work. We developed above market level in 2025. The combination of innovative technologies, proximity to our users and integrated value creation forms the basis for our todays and future success as well," says Oliver Jakobi, CEO of Ottobock SE & Co. KGaA.
 

Group development²

With growth of 11.7 percent, the Group generated core revenues of € 1,599.7 million (2024: € 1,432.5 million). Organic revenue growth amounted to 10.6 percent and was therefore in the guided range of 10.5 to 12 percent. The underlying core EBITDA increased to € 415.3 million (2024: € 320.6 million). In addition to strong growth, this positive development was driven by a favorable product mix, economies of scale from the use of existing production and sales structures, and further improvements in purchasing conditions. Against this backdrop, the underlying core EBITDA margin increased by 3.6 percentage points to 26.0 percent. Underlying net income increased by 83.2 percent to € 177.3 million (2024: € 96.8 million). Net income after extraordinary items amounted to € 88.3 million, corresponding to earnings per share of € 1.44 (2024: € 0.48). Extraordinary items mainly comprised expenses in connection with restructuring as well as the IPO. Impairment losses also had an impact on the group result in connection with the planned disposal of the Human Mobility business.

Free cash flow increased by 23.7 percent to € 228.0 million in 2025 (2024: € 184.4 million). Leverage³ decreased to 2.3x (2024: 3.5x) due to improved underlying EBITDA and very good cash flow.

Segment development (core business)

In the EMEA segment, the largest by revenues, revenues increased by 12.7 percent to € 1,149.2 million in the past year (2024: € 1,019.3 million). This was mainly driven by demand for new products such as the Genium X4 mechatronic prosthetic knee joint and the expansion of the Taleo prosthetic foot portfolio. Investments in the Patient Care business also had a positive impact. Organic revenue growth in the segment was 9.5 percent. Underlying segment EBITDA improved by 24.0 percent to € 298.2 million (2024: € 240.6 million). The underlying EBITDA margin was 25.9 percent compared to 23.6 percent in the previous year.
 

The Americas segment revenues increased by 9.5 percent to € 346.0 million (2024: € 316.0 million). Organic growth in the segment was 14.0 percent. This was mainly due to the launch of the Genium X4 and the continued market penetration of the microprocessor-controlled orthosis C-Brace, as well as the reimbursement of the Kenevo microprocessor-controlled knee joint for amputees with a low mobility grade. Underlying segment EBITDA improved by 58.5 percent to € 89.1 million (2024: € 56.2 million). The underlying EBITDA margin improved by 8.0 percentage points to 25.7 percent (2024: 17.8 percent).
 

The APAC segment revenues increased by 7.4 percent to € 104.4 million (2024: € 97.2 million). The positive development was mainly driven by strong demand for microprocessor-controlled knee joints (MPKs), the positive development of newly launches and the acquisition of the treatment provider Northern Prosthetics in Australia. Organic growth in the segment was 11.7 percent. Underlying segment EBITDA improved by 17.4 percent to € 28.0 million (2024: € 23.8 million). The underlying EBITDA margin increased by 2.3 percentage points to 26.8 percent (2024: 24.5 percent).
 

Revenues by product category (core business)

In the Products & Components (B2B) business, revenues totaled € 896.2 million in the reporting period (2024: € 783.0 million). This corresponds to an increase of € 113.2 million over the previous year and organic growth of 15.2 percent. This development is mainly due to the market launch of new products, positive effects from spike events and expansions in the reimbursement area.

Revenues in the patient care (B2C) business increased by € 53.9 million or 8.3 percent to € 703.4 million (2024: € 649.5 million). Growth resulted from organic growth of 4.9 percent and non-organic growth of 4.2 percent, which is mainly due to acquisitions of healthcare companies and full-year effects of acquisitions made in the previous year.

53.4 percent of revenues were thus accounted for by the product category Products & Components in financial year 2025 (2024: 48.8 percent), while Patient Care contributed 41.9 percent (2024: 40.5 percent).  
 

Proposed dividend of € 0.97 per share

The Executive Board and the Supervisory Board will propose a dividend of € 0.97 per share to the Annual General Meeting on 19 May 2026. This corresponds to a payout ratio of 35 percent of underlying net income and thus confirms the strategic dividend policy, which provides for a payout of between 30 and 40 percent of underlying net income. Subject to the approval of the Annual General Meeting, the total payout amounts to € 62.1 million.  

"With our dividend proposal, we want our shareholders to participate adequately in the company's strong success," says Dr Arne Kreitz, CFO of Ottobock SE & Co. KGaA.

¹The 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 400 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.

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

The 2025 group annual report also includes for the first time Ottobock's combined non-financial group report, which was prepared on the basis of the European Sustainability Reporting Standards (ESRS).  

The Group Annual Report 2025 is available on the company website at https://investors.ottobock.com/ergebnisse-berichte

Upcoming dates

6 May 2026               Publication of the quarterly statement January to March 2026

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

Contact Investors:

Ottobock SE & Co. KGaA SE & Co. KGaA
Julia Hartmann  
VP Investor Relations
Phone: +49 151 556 848 07
E-mail: julia.hartmann@ottobock.de  

Contact Media:

Ottobock SE & Co. KGaA SE & Co. KGaA
Merle Florstedt  
Head of Corporate Communications
Phone: +49 151 4416 1625
E-mail: merle.florstedt@ottobock.de  

About Ottobock

Ottobock, a listed global MedTech champion, combines over 100 years of tradition with outstanding innovative strength in the fields of prosthetics, neuro-orthotics and exoskeletons. Ottobock develops innovative fitting solutions for people with limited mobility and is driving the digitalization of the industry. Founded in Berlin in 1919, the company has business activities in 45 countries with nearly 9,300 employees (FTEs) worldwide and operates the largest international patient care network with around 400 patient care clinics. Ottobock is shaping the future of human bionics with a strong R&D ratio in the products and components business and over 2,600 patents and patent applications. Ottobock’s mission of improving freedom of movement, quality of life and independence is deeply rooted in the company's DNA, as is its social commitment: Ottobock has been a partner and supporter of the Paralympics since 1988.

Key figures for financial year 2025  

Ottobock Group

Core development by segment

Core revenues by product category

Key figures October – December 2025  

Ottobock Group

Core development by segment

Core revenue by product category