Technogym, Cesena, Italy, on Tuesday reported €124.1 million ($135.65 million) in first quarter 2017 revenue, a 7.4 percent increase year-over-year. Chairman and CEO Nerio Alesandri attributed the increase to strong growth in the company's Asia-Pacific and North American markets.
"Technogym continues to grow faster than the market," Alesandri said in a company release. "Despite the unstable international scenario, the company has registered a double-digit growth in North America and Asia, two strategic areas for the medium-long term development. The potential of Technogym’s brand, management and product portfolio is very high; therefore, we are confident that we will be able to reach this year’s goals.”
At constant exchange rates, the company reported quarterly consolidated revenue growth of 6.6 percent.
Technogym saw substantial growth in the following markets: Asia-Pacific (23.2 percent), North America (18.7 percent), Italy (15.2 percent) and greater Europe (7.3 percent). Alesandri also cited success with partners in the company's Premium Club, Hospitality, Corporate and Medical segments.
In March, Technogym reported its first year-end financials since going public in May 2015—€555 million ($587 million), an 8.5 percent increase year-over-year.