DUDERSTADT (dpa-AFX) – The prosthesis manufacturer Ottobock from southern Lower Saxony is looking confidently into the future after its successful IPO. Company boss Oliver Jakobi announced a new growth phase when presenting the figures for three quarters of the year.
The company from Duderstadt near Göttingen increased its adjusted consolidated profit in the first nine months of the financial year by 81.3 percent to 118.7 million euros. In the same period last year, Ottobock earned 65.5 million euros. Sales rose in the same period from 1.16 to 1.22 billion euros (plus 4.6 percent).
Company boss: “Innovative power remains a growth driver”
According to the company, the reasons for the positive development were primarily new products and acquisitions. “Our innovative strength remains the decisive growth driver – the successful IPO now enables us to initiate the next growth phase,” said Jakobi.
The group is best known for its prosthetics and technical support for the Paralympics. According to its own information, the company is the world market leader in the field of prosthetics.
Shares in a relatively narrow range after IPO
At the beginning of October, Ottobock achieved the largest IPO of the year in Germany. The shares are traded in the so-called Prime Standard. This means they meet the requirements to be included in the DAX index group (DAX).
The share price rose slightly after the figures were announced on Thursday. At midday the paper was trading around half a percent higher at 69.60 euros. Since the IPO, Ottobock shares have only moved within a narrow range. On the first day of trading, the issue price rose from 66 euros to 73 euros.
After that it went down a bit again. Most recently, the price fluctuated in a range between around 66 euros and just over 70 euros. The company is valued at almost 4.5 billion euros. The family of company founder Otto Bock holds a little more than 80 percent of the shares./xma/DP/zb/mis
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