Ottobock (OBCK) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 increased to €800.6 million, up 5% year-over-year from €762.8 million.

• Net profit for H1 2025 was €28.0 million, a significant improvement from a loss of €0.3 million in H1 2024.

• Total comprehensive income for H1 2025 was €2.6 million, impacted by negative exchange differences.

• The company completed several acquisitions, including Matton Orthopedie NV and Northern Prosthetics Pty. Ltd.

• A disposal group (Human Mobility business) was classified as held for sale, with a €30.1 million impairment loss recognized.

Financial highlights

• Gross profit rose to €423.8 million from €374.6 million year-over-year.

• Operating profit increased to €66.2 million from €47.1 million year-over-year.

• Earnings per share improved to €0.47 from €0.03 year-over-year.

• Free cash flow for H1 2025 was €93.2 million, up from €36.0 million in H1 2024.

• Dividend of €15.0 million paid in April 2025.

Outlook and guidance

• Management expects a positive impact on net income from the upcoming reduction in German corporate tax rates, with a benefit of €2.5–3.3 million over the next twelve months.

• The business is subject to seasonality, with stronger sales and profitability expected in the second half of the year.