Technogym, Cesena, Italy, reported revenue of €643 million ($711 million) for the fiscal year of 2018, according to a March 27 media release issued by the company.
This sum marks an 8 percent increase from 2017.
Technogym CEO Nerio Alessandri attributed the company's success to growth in key global markets, including China (26 percent sales growth), North America (19 percent growth) and Japan (16 percent growth).
“Three years after our IPO, as promised to our shareholders, Technogym continues to grow in a sustainable and profitable way," Alessandri said. "In 2018, our net profit was up by over 50 percent, and we are proud to propose to the shareholders meeting a dividend doubled compared to last year. Innovation remains the engine of the Technogym growth. Thanks to our exclusive ‘wellness on the go’ strategy, we are the only player able to offer consumers their personal training program, anytime and anywhere, though our unique digital ecosystem which includes smart equipment, digital apps, services and contents—[and is] installed in 15,000 fitness centers in the world and used by 12 million people.”
For the year, Technogym's adjusted EBITDA grew by 12 percent to €134 million ($150.4 million). Net operating income also grew by 17.3 percent to €106.8 million (119.89 million).
Alessandri also called attention to the company's new product launches in 2018. These included the SKILLRUN treadmill as well as the SKILLBIKE stationary bike.
"Year after year, we are realizing our vision of being the world leader wellness solution provider, in line with our social mission of helping people living better for the benefit of all stakeholders: governments, companies and citizens," he said. "Wellness represents also for Technogym a great development opportunity for a long term sustainable and profitable growth."
Technogym previously reported a 6.7 percent revenue increase for the first three quarters of 2018.