Technogym, Cesena, Italy, reported €131.50 million ($146.65 million) in 2019 first quarter revenue, a 5.4 percent increase year-over-year, according to financials released on May 15.
This increase represents year-over-year growth of 3.5 percent, when measured at constant exchange rates.
Technogym CEO Nerio Alessandri attributed the quarter's success to continued growth in key global markets including North America (25 percent sales growth) and China (16 percent growth).
“The 360-degree innovation, from product to service to ecosystem, based on our Mywellness digital platform, continues to represent our strategic priority,” Alesandri said in a media release that accompanied the earnings report. “In line with the activities we have started in 2018, in 2019, our Technogym 4.0 project will be at full steam and involve all the company areas with further investments focused at the development of new programs and ‘training experiences,’ leveraging our connected smart equipment and digital ecosystem.”
Alesandri also expressed excitement for the forthcoming launch of the Technogym Live platform, which will allow consumers to stream content from their favorite trainers via Technogym equipment consoles.
“The result of the first quarter, despite being the least significant of the year due to business seasonality, makes us confident to achieve our yearly goals,” he said.
The majority of the brand's business for the quarter was conducted in Europe (€66.95 million or $74.66 million) and through field sales (€91.89 million or $102.48 million), according to the report.
In March, Technogym reported an 8 percent increase in its year-end 2018 revenue.