Ottobock Se & Co. Kgaa · XETR:OBCK

Ottobock Se & Co. Kgaa — Investor Presentation (September 2026)

47 slides from Ottobock Se & Co. Kgaa's investor presentation, September 2026

Slide 2: Ottobock at a glance - FY 2025
Ottobock at a glance - FY 2025 #1 €1.6bn | 11% €415m | 26% in Human Bionics1) Total core2) revenue 25A3) & organic core growth 24-25A4) Underlying core EBITDA5) 25A and margin6) >130 >800k >430 # Countries served globally7)8) # Patients9) # Patient Care clinics10) Note: 1) Company data analysis; rel
Slide 3: Over a century of continuous innovation leadership
Over a century of continuous innovation leadership First mechatronic Digital Foundation orthosis system transformation Bionic Reconstruction First micro- processor- Pioneering electro- Human Machine controlled modulation1) Interface / AI prosthesis Exoskeletons (Humanoid) Robotics 1919 2000s 2018 20
Slide 4: Integrated platform with a comprehensive offering
Integrated platform with a comprehensive offering Medical conditions served Integrated platform with a comprehensive offering Prosthetics Neuro-Orthotics Digital O&P4) Exoskeletons5) (Traumatic) Limb Loss 56%3) ~5m1) Peripheral Artery Disease (PAD) Stroke B2B6) Multiple Sclerosis ~50m2) Spinal Cord
Slide 5: Comprehensive portfolio of bespoke solutions
Comprehensive portfolio of bespoke solutions Prosthetics Neuro-Orthotics >26’000 >3’500 SKUs SKUs Ottobock Investor Presentation September 2026 I Copyright © 2026 Ottobock 5
Slide 6: Innovation - The next major milestones
Innovation - The next major milestones Vision Human Bionic Reconstruction Prosthetics Neuro-Orthotics Expansion of upper and lower limb Expansion of lower limb Present mechatronic systems mechatronic portfolio Near Next gen active prosthetics Introduction of upper limb systems Future enabled by man-
Slide 7: Ottobock – Global MedTech champion
Ottobock – Global MedTech champion Global market leader in Human Bionics1) 1 #1 in Prosthetics, #1 in Neuro-Orthotics, #1 in Exoskeletons, #1 in Digital O&P Highly attractive and resilient markets 2 with strong growth momentum Innovation champion with strong pipeline creating new markets 3 and socio
Slide 8: Global market leader in Human Bionics
1 Global market leader in Human Bionics Key market drivers Ottobock’s addressable market sizes, market positions and expected market growth Ageing society Products & Components (B2B)1) Patient Care (B2C) accompanied by growing chronic health conditions Scale-up of tech-driven innovations #1 8% #2 5%
Slide 9: Highly attractive and resilient markets
2 Highly attractive and resilient markets Addressable B2B market (in bn. €) Addressable B2C market (in bn. €) CAGR 2024-30 ~5.3% CAGR 18.0 ~5.1% 3.7 CAGR ~29% ~9.5% 0.2 13.2 0.2 ~15% CAGR ~4.8% 0.8 CAGR ~11% 10.3 ~7.5% CAGR 2.1 8.6 ~6.9% 0.1 CAGR 0.4 2.5 1.5 1.1 0.3 ~8% 0.2 1.6 1.1 0.9 2015 2019 202
Slide 10: Evidence-based benefits are driving reimbursement
3 Evidence-based benefits are driving reimbursement Ottobock Initiating reimbursement First-mover advantage Deep market penetration of Expansion of access and approach for innovations and pricing upgrade the reimbursement system addressable population 1997 2015 2018 2021 2024 2026+ Today Launch C-Le
Slide 11: Scalable business model across B2B and B2C
4 Scalable business model across B2B and B2C Products & Components (B2B) Patient Care (B2C) Patients Tech-driven innovations Direct patient access Lean and scalable Life-long partnership for Insights into patient needs manufacturing set-up patients with chronic medical conditions Active patient acqu
Slide 12: Patient population growth through re-fitting cycles
4 Patient population growth through re-fitting cycles >5 re-fitting cycles with >€150k LTV1) Case study: Revenue development of MPK products in DACH (in m. €) 85 New patient Initial fitting 80 Re-Fitting 4 Multiple 75 Re-Fitting 3 re-fittings 70 65 Re-Fitting 2 60 55 50 Re-Fitting 1 +12% p.a. 45 40
Slide 13: Digitalization and industrialization of our global Patient Care network
4 Digitalization and industrialization of our global Patient Care network Ottobock global Patient Care network1) Increased efficiency through digitalization More than 3x network expansion since 2016 ~40% time saving2) Administration 327 3D scan 65 39 Digital fabrication Fitting Note: 1) As per June
Slide 14: Double-digit sales growth and over-proportionate profit and free cash flow increase
5 Double-digit sales growth and over-proportionate profit and free cash flow increase Core revenue (in m. €) Underlying core EBITDA (in m. €) Free cash flow (in m. €) 12.9% 9.4% 10.6% 21.2% 22.4% 26.0% 1,599.7 1,432.5 1,290.5 415.3 228.0 320.6 184.4 273.7 115.8 2023 2024 2025 2023 2024 2025 2023 202
Slide 15: Outperforming markets in all regions
5 Outperforming markets in all regions EMEA (in m. €) Americas (in m. €) APAC (in m. €) 16.5% 11.7% 9.5% 14.0% +12.7% +9.5% +7.4% 1,149.2 346.0 104.4 1,019.3 316.0 97.2 2024 2025 2024 2025 2024 2025 • New product launches • New product launches • Strong growth in Australia and Japan • Reimbursement
Slide 16: Successful interplay of B2B and B2C
5 Successful interplay of B2B and B2C Core revenue (in m. €) +11.7% Patient Care (B2C) 1,599.7 • Strong catch-up after weaker start into the year • US business with double-digit organic growth 1,432.5 • Further contribution from acquisitions in EMEA and APAC 703.4 4.9% 649.5 Products & Components (B
Slide 17: Strong profitability in all regions – Americas picked up as planned
5 Strong profitability in all regions – Americas picked up as planned Underlying core EBITDA (in m. €) 22.4% 26.0% Gross Profit +3.6%pt • Positive product mix with strong B2B sales 415.3 26.8% • Scaling effects and benefits from lower cost manufacturing 28.0 plants and procurement initiatives 320.6
Slide 19: What are the key themes for 2026
What are the key themes for 2026 Innovation-driven demand Scalability Seasonality M&A • OTWorld 2026 launches and • Further margin expansion • Structural seasonality • Execution on attractive ramp-up from H2/26 through overproportionate pattern expected to M&A pipeline on technology growth of high-e
Slide 20: Select Innovations for OTWorld
Select Innovations for OTWorld Iconiq Liner Michelangelo C-Brace Interim Revoniq • Essential part of every • Strengthens our upper limb • Pioneering microprocessor • New SSCO joint, prosthetic fitting, exchanged portfolio controlled leg orthosis complements C-Brace every 6 months • One of the most a
Slide 21: Launch of new innovations driving non-linear growth
Launch of new innovations driving non-linear growth What to expect in 2026 Significant number of next gen Launch of next products presented at OTWorld in May 2026 gen products Full suite of innovations across entire product range to further SALES evolve the portfolio Existing products Product platea
Slide 22: Delivering on our scalability targets
Delivering on our scalability targets Scalability measures Successful margin development 35% Innovation-driven growth 30% 30% Production relocation towards 27% Bulgaria (LCM) 26% 25% 24% 26% 25% Margin uplift: 22% 22% +4%p Shared service center Bulgaria 20% 17% 21% Typical seasonality pattern – deta
Slide 23: Recurring seasonality pattern with a clear upward trend on a full-year basis
Recurring seasonality pattern with a clear upward trend on a full-year basis Core revenue development Commentary 2024A 2025A Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Structural seasonality pattern alongside special effects H2 weighting reflects reimbursement approval Core patterns, with payer decisions revenue typic
Slide 24: Active M&A approach & ongoing non-core portfolio measures
Active M&A approach & ongoing non-core portfolio measures Non-core portfolio measures Acquisitions / investments Key additions in 2026 Outlook A4 Access ✓ Divested (January 2024) B2B ✓ Cascade Orthopedic Supply Divested (September 2024) Actively Active Life Health ✓ Closed down (December 2024) B2C d
Slide 26: Delivering strategic priorities and operational target
Delivering strategic priorities and operational target 1 Strategically & operationally on track with strong Q2 performance Organic core revenue growth of +6.7% in H1 (Q2 2026: +8.0%), driven by EMEA 2 with a continued growing patient base 3 Underlying core EBITDA margin improved to 25.3% in H1 (Q2 2
Slide 27: Strong organic core growth of +6.7% in H1, led by B2B in EMEA
Strong organic core growth of +6.7% in H1, led by B2B in EMEA Core revenue split H1 2026 APAC Americas 6% 19% 75% Americas Q2 H1 EMEA APACQ2 H1 2026 2026 APAC 2026 2026 Organic core EMEA Q2 H1 0.7% (0.3)% EMEA Organic core growth 2026 2026 (5.5)% 3.6% growth Organic core • US: Org. growth B2B of +1%
Slide 28: Strong organic core growth of +6.7%, margin expansion by +2.2%p reaching 25.3% in H1
Strong organic core growth of +6.7%, margin expansion by +2.2%p reaching 25.3% in H1 Core revenue (in m. €) Underlying core EBITDA (in m. €) Free cash flow (in m. €) +2.2%p 6.7% +6.7% 23.1% 25.3% 76.2% 77.7% +7.7% +18.1% -23.0% 818.5 207.0 93.2 760.2 175.2 71.8 H1 H1 H1 H1 H1 H1 2025 2026 2025 2026
Slide 29: B2B with high single digit organic growth of +8.7% in H1
B2B with high single digit organic growth of +8.7% in H1 Core revenue (in m. €) Commentary +6.7% Patient care (B2C) • Continued positive org. core growth momentum +7.7% • Acquisition of Blatchford’s patient care business in Norway 818.5 760.2 356.9 +4.2% 331.7 Products & components (B2B) • Accelerat
Slide 30: EMEA key growth driver in Q2, Americas and APAC with strong comps
EMEA key growth driver in Q2, Americas and APAC with strong comps Core revenue EMEA (in m. €) Core revenue Americas (in m. €) Core revenue APAC (in m. €) +9.0% -0.3% +3.6% +12.2% +1.0% -5.1% 610.2 164.2 52.0 52.5 155.8 544.0 H1 H1 H1 H1 H1 H1 2025 2026 2025 2026 2025 2026 • Double-digit organic core
Slide 31: Underlying core EBITDA increase by +18% in H1; significant margin uplift
Underlying core EBITDA increase by +18% in H1; significant margin uplift Underlying core EBITDA (in m. €) Commentary +2.2%p 23.1% 25.3% Group +18.1% • Favorable product mix effects through strong growth in B2B 207.0 business 175.2 • Disciplined cost management especially in administrative and distri
Slide 32: Increase in underlying net income by +24% in H1
Increase in underlying net income by +24% in H1 Underlying net income (in m. €) Commentary • Depreciation (excluding impairments) rose in line with +23.9% business development 85.1 • Interest result below prior year driven by lower average net debt and lower bank interest rates 68.7 • Improved tax r
Slide 33: Lower free cash flow impacted by timing and one-off effects of income tax payments
Lower free cash flow impacted by timing and one- off effects of income tax payments Free cash flow (in m. €) Commentary 76.2% 77.7% Free cash flow • EBITDA significantly above prior year -23.0% 93.2 • Timing effects related to income tax payments • H1 2025 impacted by delayed income tax payments of
Slide 34: Net debt and leverage slightly increased due to Blatchford Norway acquisition
Net debt and leverage slightly increased due to Blatchford Norway acquisition Key financial indicator Net debt (in m. €) and leverage Q4 H1 1,400 4.2x 4.5x 2025 2026 282 24% 1,200 4.0x 4.0x Net debt 960.7 1,124.7 3.7x 1,000 3.5x 3.5x 3.2x 800 3.0x LTM u. EBITDA 420.7 453.2 3.0x 2.8x 600 2.5x 2.3x 2.
Slide 35: 2026 outlook narrowed, mid-term guidance on track
2026 outlook narrowed, mid-term guidance on track Previous Narrowed Mid-term guidance 2026 guidance 2026 guidance 2029 Organic core 5.0–8.0% 6.0–8.0% 7.0–9.0% p.a. revenue growth Underlying core > 26.5% > 27.0% 29.0–30.0% EBITDA margin Net capex and cap. R&D € 105 m. – 115 m. € 105 m. – 115 m. Cash-
Slide 37: Ambitious leadership team committed to long-term success
Ambitious leadership team committed to long-term success Executive Directors 35 7 7 4 Execution-driven management team with Ottobock DNA and strong track record Clear strategic roadmap to drive growth Oliver Jakobi Dr. Arne Kreitz Arne Jörn Martin Böhm and margin expansion (CEO/CSO) (CFO) (COO/CTO)
Slide 38: Key figures
Key figures Q2 H1 million € 2025 2026 2025 2026 Revenue 41 7.7 458.1 800.6 854.1 Revenue growth 5.2% 9.7% 5.0% 6.7% Core revenue 397.7 440.1 760.2 81 8.5 Organic core revenue growth 1 0.9% 8.0% 1 0.9% 6.7% Gross profit 228.7 242.0 423.8 448.5 Gross margin 54.8% 52.8% 52.9% 52.5% Underlying EBITDA 1
Slide 39: Key figures by segment and product category
Key figures by segment and product category Q2 H1 million € 2025 2026 2025 2026 EMEA 282.5 327.5 544.0 61 0.2 Americas 87.8 86.8 1 64.2 1 55.8 APAC 27.4 25.8 52.0 52.5 Core revenue 397.7 440.1 760.2 81 8.5 Products & components (B2B) 221 .2 248.0 428.5 461 .6 Patient care (B2C) 1 76.4 1 92.0 331 .7
Slide 40: Profit & loss statement
Profit & loss statement Q2 H1 million € 2025 2026 2025 2026 Revenue 41 7.7 458.1 800.6 854.1 Cost of sales -1 89.0 -21 6.1 -376.8 -405.6 Gross profit 228.7 242.0 423.8 448.5 Selling expenses -85.1 -83.1 -1 68.9 -1 72.3 Research and development expenses -1 8.7 -20.7 -37.4 -40.5 Administrative expense
Slide 41: Balance sheet
Balance sheet Assets 31 Dec 30 Jun million € 2025 2026 Property, plant and equipment 236.9 236.4 Goodwill 509.8 575.0 Intangible assets 343.4 393.7 Right-of-use assets 1 95.4 209.4 Equity-accounted investees 8.1 1 4.3 Other financial assets 46.0 39.0 Other assets 3.7 2.9 Deferred tax assets 73.9 75.
Slide 42: Balance sheet
Balance sheet Liabilities 31 Dec 30 Jun million € 2025 2026 Subscribed capital 64.0 64.0 Capital reserve 1 53.8 1 53.8 Retained earnings 223.4 228.9 Other components of equity -51 .1 -51 .0 Equity attributable to shareholders of Ottobock SE & Co. KGaA 390.1 395.7 Non-controlling interests 7.4 6.5 To
Slide 43: Balance sheet
Balance sheet Liabilities 31 Dec 30 Jun million € 2025 2026 Liabilities to credit institutions 1 98.0 90.0 Lease liabilities 41 .8 43.4 Trade and other payables 99.6 1 1 1 .5 Contract liabilities 32.2 37.0 Other financial liabilities 31 .6 32.3 Payables from reverse factoring 66.6 72.0 Income tax pa
Slide 44: Cash flow statement
Cash flow statement Q2 H1 million € 2025 2026 2025 2026 Profit before tax (EBT) 1 8.3 69.0 45.8 99.2 Financial result 1 0.4 1 5.5 20.4 32.6 Depreciation, amortization and impairment 64.5 40.4 97.4 76.2 Gain/loss from disposals of non-current assets -0.3 -0.3 -0.5 -0.3 Changes in liabilities from the
Slide 45: Cash flow statement
Cash flow statement Q2 H1 million € 2025 2026 2025 2026 Acquisition of subsidiaries -8.7 -1 06.3 -1 7.5 -1 1 1 .5 Cash flow from investing activities -43.3 -1 36.9 -69.8 -1 65.2 Proceeds from bank loans 21 .4 1 90.9 7.1 270.0 Repayment of bank loans 0.0 -22.6 0.0 -1 22.6 Repayment of lease liabiliti
Slide 46: Investor relations contact
Investor relations contact Financial reporting 12 November 2026 Quarterly Statement January-September 2026 Roadshows and conferences September 2026 – European Roadshows Zurich, Frankfurt and Paris 9 September 2026 Goldman Sachs European Medtech and Healthcare Services Conference, London 22 September
Slide 47: Disclaimer
Disclaimer This presentation includes statements concerning the future performance of Ottobock. These statements are based on assumptions and estimates. Although we are convinced that these forward-looking statements are realistic, we cannot guarantee that they will actually materialize. This is bec

Ottobock SE & Co. KGaA — Investor Presentation (September 2026) on 6ix

Ottobock Se & Co. Kgaa — Investor Presentation (September 2026)

Slide 1: Ottobock SE & Co. KGaA Global MedTech Champion

Slide 2: Ottobock at a glance - FY 2025

Slide 3: Over a century of continuous innovation leadership

Slide 4: Integrated platform with a comprehensive offering

Slide 5: Comprehensive portfolio of bespoke solutions

Slide 6: Innovation - The next major milestones

Slide 7: Ottobock – Global MedTech champion

Slide 8: Global market leader in Human Bionics

Slide 9: Highly attractive and resilient markets

Slide 10: Evidence-based benefits are driving reimbursement

Slide 11: Scalable business model across B2B and B2C

Slide 12: Patient population growth through re-fitting cycles

Slide 13: Digitalization and industrialization of our global Patient Care network

Slide 14: Double-digit sales growth and over-proportionate profit and free cash flow increase

Slide 15: Outperforming markets in all regions

Slide 16: Successful interplay of B2B and B2C

Slide 17: Strong profitability in all regions – Americas picked up as planned

Slide 18: Business and Strategy Update

Slide 19: What are the key themes for 2026

Slide 20: Select Innovations for OTWorld

Slide 21: Launch of new innovations driving non-linear growth

Slide 22: Delivering on our scalability targets

Slide 23: Recurring seasonality pattern with a clear upward trend on a full-year basis

Slide 24: Active M&A approach & ongoing non-core portfolio measures

Slide 25: Financial Update H1 2026 and Outlook

Slide 26: Delivering strategic priorities and operational target

Slide 27: Strong organic core growth of +6.7% in H1, led by B2B in EMEA

Slide 28: Strong organic core growth of +6.7%, margin expansion by +2.2%p reaching 25.3% in H1

Slide 29: B2B with high single digit organic growth of +8.7% in H1

Slide 30: EMEA key growth driver in Q2, Americas and APAC with strong comps

Slide 31: Underlying core EBITDA increase by +18% in H1; significant margin uplift

Slide 32: Increase in underlying net income by +24% in H1

Slide 33: Lower free cash flow impacted by timing and one-off effects of income tax payments

Slide 34: Net debt and leverage slightly increased due to Blatchford Norway acquisition

Slide 35: 2026 outlook narrowed, mid-term guidance on track

Slide 36: Appendix

Slide 37: Ambitious leadership team committed to long-term success

Slide 38: Key figures

Slide 39: Key figures by segment and product category

Slide 40: Profit & loss statement

Slide 41: Balance sheet

Slide 42: Balance sheet

Slide 43: Balance sheet

Slide 44: Cash flow statement

Slide 45: Cash flow statement

Slide 46: Investor relations contact

Slide 47: Disclaimer