Ottobock (OBCK) Q1 2026 earnings summary

Executive summary

• Organic core revenue grew 5.1% year-over-year in Q1 2026, with total revenue reaching up to €396.0 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 improved by 32% to €41.5 million, reflecting strong operational performance.

• Underlying net income rose 13.1% to €22.6 million.

• Growth was driven by B2C momentum, robust emerging market performance, and innovation in product offerings, including new launches and strategic investments.

Financial highlights

• Q1 2026 core revenue reached €378.4 million, up 5.1% organically year-over-year.

• Total revenue increased by 3.4% to €396.0 million.

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

• Underlying core EBITDA margin improved to 22.3%, up 1.5 percentage points year-over-year.

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

Outlook and guidance

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

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

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