Technogym Unveils H1 2023 Financial Highlights
Krissy Vann | Host, All Things Fitness and Wellness
Technogym, the renowned wellness company, has delivered impressive results in the first half of 2023, showcasing robust double-digit growth across key financial indicators. The company's consolidated revenue surged to Euro 370.0 million, a significant 13.8% increase compared to the same period in 2022. Adjusted EBITDA saw a healthy rise of 14.6% to Euro 59.4 million, and the net profit also showed a notable upswing of 12.6% to Euro 28.1 million. These positive financial outcomes can be attributed to increased sales volumes, favorable product mix, and strategic investments in innovation.
Technogym's growth was evident in both the Business-to-Business (BtoB) and Business-to-Consumer (BtoC) segments. The BtoB segment witnessed substantial double-digit growth across all sub-segments, demonstrating the company's success in catering to diverse customer needs. Moreover, the BtoC segment displayed signs of normalization, with growth in the second quarter compared to the same period in 2022.
The company's CEO, Nerio Alessandri, highlighted their goal of promoting wellness, aligning with the United Nations' "Good Health and Wellbeing Goal." Technogym aims to become the new "sustainable and aspirational medicine" by focusing on prevention and care protocols, offering world-class solutions for healthy longevity.
Technogym's influence also extends to the sports arena. As the exclusive and official supplier for the preparation of over 15,000 athletes participating in the Paris 2024 Olympics, the company continues to play a vital role in the world of sports. Furthermore, Technogym's dedication to innovation is evident in the launch of Technogym Run and the enhancement of its digital ecosystem. These developments led to a 30% increase in performance for equivalent training time, improving the user experience for over 50 million users.
The company's brand positioning remains strong, with a presence in over 85 thousand professional centers and 400,000 homes. Through strategic communication investments, including industry trade shows and digital campaigns, Technogym aims to reach new users, reinforcing its position as "Prestige" in the BtoC market and "Premium" in the BtoB market.
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Photo Credit: Technogym
Photo Credit: Technogym