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Technogym ARTIS Photo courtesy Technogym.

Technogym Reports 7.5 Percent Revenue Increase for First Nine Months of 2017

Technogym's growth in the first three quarters of the year was spurred by 37.7 percent growth in Latin America, followed by 11.2 percent growth in North America.

Technogym, Cesena, Italy, reported revenue of Euro 413.8 million ($482 million) for the first three quarters of 2017, according to a media release from the company. The revenue was a 7.5 percent increase from the same period in 2016. In constant exchange rates, the increase was 8.1 percent.

In the third quarter of 2017, in line with the trend of recent years, approximately 90 percent of the total revenues of the group was generated outside of Italy and approximately 40 percent outside of Europe.

The most growth occurred in Latin America, which had a 37.7 percent increase in revenue. North America and Asia Pacific regions also helped with the growth, increasing 11.2 percent and 9.7 percent, respectively. Europe without Italy has an increase of 4.6 percent.

“For more than two decades, Technogym has been promoting wellness, a sports and health-oriented life style, that represents an opportunity for both economic growth and social development," Nerio Alessandri, Chairman and CEO, said in the release. "The consistency of the company strategy with this vision has enabled it to constantly grow over the years as well as to build an aspirational brand worldwide. Technogym performance continues to grow and to gain market shares, with rising rates and double digit results in the areas with greater future growth potential, such as the United States and China."

Technogym went public, trading on the Milan Stock Exchange, starting in May 2016. 

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