Overview
- Preliminary 2025 results show revenue near €1.6–1.7 billion and adjusted EBITDA of about €420.7 million, marking record performance with a margin around 26%.
- Management guides 2026 core-business revenue growth of 5–8% and an adjusted EBITDA margin above 26.5%.
- Debt leverage fell to 2.3 from 3.5, and the company plans further targeted acquisitions this year.
- Upcoming 2026 launches include mechanically and electronically assisted knee joints, the Speedhand and Michelangelo prosthetic hands, and an updated exoskeleton, with financial impact expected to phase in due to reimbursement cycles.
- Despite the operational gains, the stock traded below its €66 issue price on Feb. 17, touching around €54 intraday, and the CEO said the IPO itself had little direct effect on 2025 results.