Ottobock has reported a strong first half of 2026, with core revenue increasing 7.7% to €818.5 million as continued demand for prosthetics and neuro-orthotics helped drive growth across the company’s Products & Components business.
The German human bionics group also recorded a substantial improvement in profitability. Underlying core EBITDA increased 18.1% to €207.0 million, while its underlying core EBITDA margin rose from 23.1% to 25.3%.
The results, announced on 13 August 2026, provide another indication of the strength of the global prosthetics and orthotics market and the growing commercial importance of advanced prosthetics, neuro-orthotics and increasingly integrated patient-care networks.
Ottobock CEO Oliver Jakobi said the company had delivered strong organic growth during the first six months while simultaneously investing in technologies and acquisitions intended to broaden the patient groups it serves.
Products and Components remains the growth engine
For the O&P industry, one of the most significant figures in Ottobock’s results is the performance of its Products & Components B2B division.
Revenue from this business increased from €428.5 million in the first half of 2025 to €461.6 million in H1 2026, representing reported growth of 7.7%.
More importantly, organic growth reached 8.7%, with Ottobock specifically attributing the performance to continuing positive momentum in prosthetics and neuro-orthotics.
This division encompasses prosthetic and orthotic products alongside digital O&P solutions, bionic exoskeletons and associated technologies.
The figures suggest that demand for higher-value rehabilitation technologies continues to expand even as the wider medical-device sector faces varying economic conditions across individual markets.
Ottobock also said the stronger growth of Products & Components contributed positively to its overall product mix and helped improve group margins.
EMEA delivers particularly strong growth
The company’s strongest regional performance came from Europe, the Middle East and Africa (EMEA), making the results particularly relevant to the IMEA CPO community.
EMEA revenue increased 12.2% to €610.2 million, compared with €544.0 million during the same period in 2025.
Organic growth in the region reached 9.0%, supported by double-digit organic expansion in the company’s B2B business and continued growth within Patient Care. Acquisitions, including Matton and Blatchford Norway, also contributed.
Underlying EBITDA in EMEA increased 24% to €158.3 million, while the regional margin improved from 23.5% to 26.0%.
While Ottobock does not separate Middle East, India and Africa sales within these figures, the scale of EMEA’s growth reinforces the strategic importance of markets outside the company’s traditional Western European base.
Across the IMEA region, demographic growth, diabetes-related limb complications, trauma, neurological rehabilitation and expanding healthcare infrastructure continue to create demand for prosthetic, orthotic and rehabilitation technologies.
Patient Care network continues to expand
Ottobock is also continuing to grow the clinical side of its business.
Revenue from its Patient Care B2C division increased 7.6% to €356.9 million, compared with €331.7 million a year earlier. Organic growth was 4.2%.
The company now operates a global network of more than 420 O&P patient-care centres, making it one of the world’s largest vertically integrated organisations combining component manufacturing with direct clinical provision.
Recent acquisitions have continued that expansion, including Matton, Northern Prosthetics and, in May 2026, Blatchford Norway.
This strategy remains important for the wider independent O&P sector.
Large manufacturers are increasingly developing direct relationships with patients through clinic networks while simultaneously supplying components and technologies to independent clinics.
That creates a changing competitive environment in which manufacturers are no longer simply component suppliers but increasingly operate across manufacturing, software, clinical care, rehabilitation services and patient relationships.
Investment moves beyond conventional prosthetics
Ottobock’s first-half activity also illustrates how the company’s definition of O&P technology continues to broaden.
The company has invested in Blue Arbor Technologies, a developer of human-machine interface technology, and agreed to acquire Spanish company Fesia Technology, which develops Functional Electrical Stimulation solutions. The Fesia transaction was signed on 7 July 2026 and is expected to close within six months.
These investments point towards an increasingly important convergence between traditional prosthetics and orthotics and technologies including neuromodulation, neurological rehabilitation, sensing and human-machine interfaces.
For CPOs, this could progressively expand the range of technologies encountered within clinical practice.
A future orthotics clinic may increasingly combine mechanical bracing with functional electrical stimulation, sensor-based assessment and software-supported rehabilitation rather than relying solely on conventional orthotic devices.
Ottobock continues portfolio restructuring
At the same time as expanding into neurotechnology, Ottobock is narrowing its focus elsewhere.
The company confirmed that it has agreed the sale of its Human Mobility wheelchair business, continuing a broader programme of portfolio streamlining.
The combination of acquisitions and divestments appears designed to concentrate the company around areas where it sees stronger strategic alignment with human bionics, prosthetics, orthotics and neurological rehabilitation.
This direction is significant for the wider O&P sector.
Rather than becoming a broad rehabilitation-equipment company, Ottobock increasingly appears focused on technologies that interact directly with human movement and function.
Profitability rises faster than revenue
Ottobock’s earnings growth also outpaced its sales increase.
Underlying net income rose 23.9% to €85.1 million, from €68.7 million during H1 2025, while reported net income increased to €67.3 million from €28.0 million.
The company attributed its improved margin to a combination of organic revenue growth, stronger sales within the higher-performing B2B product business, efficiency improvements, scale benefits and cost discipline.
Free cash flow stood at €71.8 million, compared with €93.2 million a year earlier, with Ottobock attributing the decline partly to tax-payment timing and working-capital increases.
2026 guidance strengthened
Following the first-half performance, Ottobock has tightened its full-year outlook.
The company now expects organic core revenue growth of between 6% and 8%, compared with its previous forecast of 5% to 8%.
It also expects its underlying core EBITDA margin to exceed 27%, up from previous guidance of more than 26.5%.
The revised forecast indicates that management expects momentum within prosthetics, neuro-orthotics and patient care to continue during the remainder of the year.
A strong signal for the wider O&P sector
Ottobock’s H1 2026 results are important beyond the performance of a single manufacturer.
An 8.7% organic increase in Products & Components revenue, combined with 9% organic growth across EMEA, suggests that demand for O&P technology remains robust.
At the same time, the company’s strategy illustrates how rapidly the structure of the sector is changing.
Traditional component manufacturing is increasingly being combined with digital O&P workflows, patient-care networks, neuro-orthotics, functional electrical stimulation, exoskeletons and human-machine interface technologies.
For independent CPOs and distributors across India, the Middle East and Africa, that evolution creates both opportunity and competitive pressure.
The clinical requirement for prosthetists and orthotists remains substantial, but the technology ecosystem surrounding those professionals is becoming broader, more sophisticated and increasingly consolidated.
Ottobock’s latest results suggest that investors and major manufacturers continue to see significant long-term growth potential in that ecosystem.
- Ottobock – H1 2026 financial results
- Ottobock Investor Relations – Results and Reports
- Ottobock
- IMEA CPO