Ottobock (OBCK) Q1 2026 earnings summary

Executive summary

• Organic core revenue grew 5.1% year-over-year in Q1 2026, reaching €378.4 million, despite strong prior-year comparables.

• Underlying core EBITDA increased by 11.8% to €84.3 million, with margin expanding to 22.3%.

• Free cash flow rose by 32% to €41.5 million, reflecting strong cash generation.

• Underlying net income grew 13.1% year-over-year to €22.6 million.

• Growth was driven by B2C momentum, robust APAC and EMEA performance, and continued innovation with new product launches and strategic investments.

Financial highlights

• Total revenue reached €396.0 million, up 3.4% year-over-year; core revenue was €378.4 million, up 5.1% organically.

• Gross profit increased to €206.5 million, with gross margin improving to 52.1%.

• EBIT rose 26.0% to €47.3 million, with EBIT margin at 11.9%.

• Earnings per share increased to €0.30 from €0.27 year-over-year.

• Operating cash flow rose 31.3% to €64.6 million.

Outlook and guidance

• Full-year 2026 guidance reaffirmed: 5–8% organic core revenue growth and underlying core EBITDA margin above 26.5%.

• Midterm targets: 7–9% average organic sales growth and 29–30% EBITDA margin by 2029.

• Focus on innovation-driven growth, operational efficiency, and scalability.