Ottobock

Ottobock’s stock remains well below the IPO price, and now the company also faces potential legal trouble: the Deutsche Schutzvereinigung für Wertpapierbesitz (DSW) has filed a prospectus liability suit alleging incomplete disclosures about its Russia business. The focus is on state procurement structures and the role of the Russian Social Insurance Fund; the Landgericht Göttingen is examining jurisdiction. Ottobock rejects the allegations and stresses the integrity of the prospectus approved by BaFin. » More on deraktionaer.de

Die Deutsche Schutzvereinigung für Wertpapierbesitz has filed a prospectus liability suit against Ottobock and is currently examining jurisdiction before the Göttingen regional court. The dispute concerns whether the Russia business was fully presented in the securities prospectus; the DSW points to state procurement structures and the Russian social insurance fund. Ottobock rejects the allegations, stresses the integrity of the BaFin-approved prospectus and notes that Russia/Ukraine account for only a small part of its Europe business. » More on finanzen.net

Ottobock reported organic revenue growth of 9.7% in the second quarter (core business +10.7%) and adjusted EBITDA of €122.7 million (+23%) with a margin of 27.9%. Net profit rose to €48.5 million. Management raised the revenue guidance for the core business to +6–8% and now expects an adjusted EBITDA margin of more than 27% (previously >26.5%). The stock turned negative in the afternoon after initial gains. » More on finanzen.net