Prothesenhersteller Ottobock will bald an die Börse

15.09.2025 09:09

Beim Börsengang dürfte das Unternehmen mit einigen Milliarden Euro bewertet werden. Vor drei Jahren war ein IPO des weltweit grössten Prothesenherstellers noch kurzfristig abgesagt worden.

Der grösste Prothesenhersteller Ottobock strebt noch diesen Herbst an die Frankfurter Börse. (Bild pd)

Das Unternehmen war erst 2024 wieder vollständig in Familienbesitz gekommen. Der schwedische Finanzinvestor EQT verkaufte seine Minderheitsbeteiligung von 20 Prozent nach sieben Jahren an Mehrheitsgesellschafter Hans-Georg Näder und seine Familie zurück. Finanziert wurde der Rückkauf mit teuren Krediten, mit dem Börsengang könnte die Familie diese tilgen. Ein erster Anlauf an die Börse war 2022 abgeblasen worden. Nun gibt es offiziell neue Pläne. Der weltgrösste Prothesenhersteller Ottobock strebt noch diesen Herbst an die Frankfurter Börse.

Den grössten Teil des Emissionsvolumens steuert die Eigentümerfamilie Näder bei. Zudem sollen neue Aktien für rund 100 Millionen Euro ausgegeben werden, der Erlös daraus kommt dem Unternehmen zugute. Im Vorfeld war in Finanzkreisen von einer Bewertung von rund sechs Milliarden Euro die Rede. Organisiert wird der Börsengang von den Investmentbanken BNP Paribas, Deutsche Bank und Goldman Sachs.

Starkes Wachstum

Ottobock ist das erste deutsche Unternehmen, das sich nach der Sommerpause mit Börsenplänen an die Öffentlichkeit wagt. Der Pharmahersteller Stada, der ebenfalls als Börsenkandidat gehandelt worden war, wurde Anfang September stattdessen an ein Konsortium um den Finanzinvestor CapVest verkauft.

Ottobock erwirtschaftete im vergangenen Jahr mit weltweit 9300 Mitarbeitern einen Umsatz um 1,43 Milliarden Euro und ein bereinigtes operatives Ergebnis (Ebitda) von 321 Millionen Euro. Im ersten Halbjahr 2025 stieg der Umsatz um 14 Prozent auf 760 Millionen Euro, das bereinigte Ebitda verbesserte sich um rund ein Drittel auf 175 Millionen Euro. «Der geplante Börsengang wird es Ottobock ermöglichen, noch stärker in neue Technologien zu investieren, seine globale Präsenz auszubauen und weiterhin neue Massstäbe in Human Bionics zu setzen», sagte Vorstandschef Oliver Jakobi.

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