This sum marks a 7.7 percent increase from 2016. In constant exchange rates, the increase is 9.3 percent.
“Technogym closed 2017, once again, with a solid revenues growth at global level," Nerio Alessandri, chairman and CEO, said in the release. "We are particularly pleased of the double-digit growth we achieved in strategic areas for our future development such as China and the United States."
Technogym reported substancial revenue growth in Latin America (26 percent) and North America (13 percent). The company's field sales (7.9 percent) and distributor sales (9.8 percent) also grew during the year, while retail sales showed a slight decline (-0.7 percent).
More than 90 percent of Technogym's 2017 revenues were generated outside Italy, and approximately 40 percent of revenues were generated outside Europe, according to the release. Both percentages are in line with the previous years' trends.
Also in the release, Technogym announced that for the seventh time it is the official supplier of the Winter Olympic Games, which are being held in Pyeongchang, South Korea, this month. Alessandri also called attention to the company's digital initiatives over the last year, including UNITY software, which allows its cardio equipment to interface with GymKit via the Apple Watch.
"As regards digital innovation, we launched the new Technogym app to offer a personalized wellness experience both on our products and in the daily life and introduced direct login between Technogym products and Apple Watch with joint launch activities in London, New York and Sydney," Alessandri said.
Technogym's complete 2017 results will be reviewed by its board of directors on March 28.