In the first half of 2024, Technogym has recorded financial results that exceeded market expectations and strengthened its position in the health sector. With consolidated revenues equal to 402.1 million euros, the company highlights a growth of 8.7% compared to the same period last year. This increase, equal to 9.2% at constant exchange rates, reflects a stable and extensive performance on a global levelsupported by expansion in all regions.
Adjusted EBITDA increased to 66.7 millionwith an increase of 12.4% compared to 59.4 million of the first half of 2023. Adjusted net profit recorded a significant growth of 15.4%, reached 32.5 million. These results were accompanied by an improvement in the net financial position, which on June 30, 2024 was positive for 93.9 million, compared to 72.2 million last year. In Piazza Affari the stock celebrated, moving against the trend and recording an increase of 6.3% to 9.56 euros.
Outlook for the next six months
Technogym expects the continuation of the positive trend in the next six months, thanks to targeted expansion and innovation strategy. The first half of the year provided a solid foundation, and the company expects to maintain and, in some cases, accelerate its growth rate thanks to several key factors:
Geographic expansion and sales channels. Robust growth in regions such as the Middle East, Latin America and the United States is set to continue. Technogym aims to consolidate and expand its presence in these areas, taking advantage of market opportunities and improving the capillarity of distribution channels. The recent opening of boutiques in London, New York and Paris and the expansion of the retail channel, which saw a growth of 30.2%, are concrete signs of this strategy.
Innovation and technology. The company will continue to invest in innovation. The launch of Technogym The checkup and the Rev line are just a few examples. These tools also respond to users’ growing need for personalization, to which is added the strengthening of the digital ecosystem and the integration of artificial intelligence.
Olympic initiative and branding. The role of Technogym as an official partner of the Paris 2024 Olympics offers the opportunity to increase the brand equity in the whole world. Commitment to ESG initiative Let’s move to Paris not only promoting well-being in the French capital, but strengthening the company’s position as an advocate of social well-being and sustainability. (All rights reserved)