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Medtech firm Ottobock Q3 revenue rises on B2B segment growth

By Reuters News


Overview

  • Germany medtech firm's Q3 core revenue grew 9% yr/yr, organic growth at 6.4%

  • Underlying core EBITDA margin rose to 27.7% in Q3, up 110 basis points yr/yr

  • Growth led by B2B segment, while B2C showed slower momentum amid reimbursement challenges


Outlook

  • Ottobock confirms 2026 guidance of 6.0%-8.0% organic core revenue growth

  • Company expects underlying core EBITDA margin above 27.0% for 2026

  • Ottobock anticipates a more moderate seasonal uplift in Q4 amid complex reimbursement landscape


Result Drivers

  • B2B SEGMENT GROWTH - Products & Components (B2B) drove revenue growth, supported by prosthetics, neuro-orthotics, and new product innovations

  • REGIONAL PERFORMANCE - EMEA and APAC regions posted strong growth, while Americas remained soft due to prior-year comparisons and weaker results in Canada and Brazil

  • REIMBURSEMENT CHALLENGES - Slower B2C growth partly due to longer reimbursement approvals in several European markets


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

9M Adjusted EBITDA Margin

26.10%


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"

  • Wall Street's median 12-month price target for Ottobock SE & Co KgaA is €79.50, about 69.1% above its November 11 closing price of €47.00

  • The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 17 three months ago


Reuters Recommended Reads

  • Nov 10 - Switzerland's Alcon Q3 sales slightly miss estimates despite surgical equipment launches, vision care growth

  • Nov 11 - Alcon shares fall as tighter eye-care market outlook raises growth concerns

  • Nov 10 - Harvard Bioscience Q3 revenue rises 8%, beats estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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