Technogym Reports 6.6 Percent Growth in First-Half 2017 Revenue

Technogym, Cesena, Italy, reported a 6.6 percent increase in first-half 2017 revenue to €266.4 million ($313.25 million), according to financials released Aug. 4.

Adjusted EBITDA was €42.2 million ($49.62 million), a 20 percent increase from the first half of 2016. Net operating income also grew 28 percent to €29.3 million ($34.35 million).

The company's across-the-board growth was due to efficient sales, cost management and new product launches, Chairman and CEO Nerio Alesandri said in the report.

“The solid growth in margins and profit levels, which are more than proportional to the increase in revenues, bears witness to the strength of the Technogym brand all over the world and the uniqueness of its products and services in terms of innovation, design and quality,” Alesandri said in the report. “These results endorse our long-term strategy, which has always placed strong emphasis on investing in product innovation and services to provide operators with complete solutions for their businesses and private customers with a unique wellness experience.”

Alesandri said that the internet-compatible Skillrow rowing machine and the Mycycling indoor training product had been successes for the company.

In the report, Alseandri called attention to the brand’s mywellness digital platform, including its new Teambeats feature that monitors heart-rate levels during group workouts. He also praised a collaboration project with IBM to introduce new mywellness coaching functions via IBM’s artificial intelligence system, Watson.

Moving forward, Apple Watches will be compatible with Technogym products, the report said.

During the first half of 2017, Technogym saw growth in the following markets: Asia-Pacific (12.9 percent), North America (15.9 percent) and Latin America (28.1 percent).

In May, the company reported a 7.4 percent increase in first-quarter revenue. Earlier this year, 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.