By
The world's largest prosthetics manufacturer, Ottobock, is looking ahead with increased optimism for the full year, buoyed by strong growth during the first nine months.
The company announced on Thursday, in its first quarterly report since its stock market debut on October 9, that core business revenue growth is expected to reach the upper half of the previously forecast range of 10 to 13 percent. The operating margin (adjusted EBITDA margin) in the core business is still projected to remain between 25 and 26 percent.
From January to September, core business revenue rose by nearly 14 percent to EUR1.16 billion. Operating profit (adjusted EBITDA) climbed by 29 percent to EUR281 million. Adjusted group profit surged by 81 percent to EUR119 million. The medtech company attributed this performance to factors including new products, acquisitions, and efficiency improvements. Ottobock has previously emphasized that its business is driven more by innovation than by wars or natural disasters.
The family-owned company, based in Duderstadt, Lower Saxony, launched its shares at an issue price of EUR66. The second-largest shareholder after the founding family led by Chairman Hans-Georg Näder is billionaire Klaus-Michael Kühne. Last year, Ottobock, with 9,300 employees worldwide, generated EUR1.43 billion in revenue and recorded an adjusted operating profit (EBITDA) of EUR321 million.
-1.png "Gaza Fund (1)-1")
