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Ottobock
Ottobock (OBCK) investor relations material
Ottobock Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary17 Feb, 2026
Executive summary
Achieved record results for FY 2025 with double-digit revenue and profit growth, fully meeting or exceeding forecasts and financial guidance, driven by strong performance across all regions and business segments.
Outperformed markets in all regions, supported by successful product launches, innovation, and strategic acquisitions.
Financial highlights
Revenue reached €1.6 billion, up 11.7% year-over-year, with organic growth at 10.6%.
Underlying core EBITDA increased 29.5% to €415.3 million, with margin up 3.6 percentage points to 26.0%.
Free cash flow rose 23.7% to €228.0 million, despite €30 million in IPO-related one-off costs.
Net debt reduced to €960.7 million, with leverage ratio declining to 2.3x from 3.5x.
Outlook and guidance
2026 organic core revenue growth projected at 5.0–8.0%, with underlying core EBITDA margin expected above 26.5%.
Midterm guidance reaffirmed: average annual sales growth of 7.0–9.0% and EBITDA margin of 29.0–30.0% by 2029.
Guidance for 2026 is conservative, reflecting strong prior-year performance and timing of innovation launches.
FX impact for 2026 expected to be minimal due to hedging, with a €3 million negative effect on EBITDA at a 1.18 USD/EUR rate.
Leverage targeted below 2.0x; net capex and capitalized R&D expected at €105–115 million, with ~25% cash-effective tax rate.
Why is 2026 organic revenue growth guidance lower?
What drove B2B's superior organic growth in 2025?
Detail 2026 innovation strategy for Neuro-Orthotics.
How did new reimbursements boost 2025 growth?
Drivers for B2B outperforming B2C growth
What drove the significant leverage ratio drop?
What assumptions underpin the 5% organic growth?
How do H2 innovations secure midterm growth?
What are key 2026 EBITDA margin expansion drivers?
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Next Ottobock earnings date
Q1 20266 May, 2026
Ottobock
Next Ottobock earnings date
Q1 20266 May, 2026
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