The year 2016 was a historic one for TECHNOGYM. After more than 30 years of continuous growth and innovation, on 3 May 2016 the company was listed on the Milan Stock Exchange and in August we were a leading player in the Rio 2016 Olympics, as official suppliers of all athletic training centers: it was the sixth Olympic experience for TECHNOGYM.The solid growth results recorded in 2016 prove that TECHNOGYM has kept the promises it made to the market in the months leading up to the IPO. During the year, we not only consolidated our leadership position in our reference segment, but we grew faster than our industry, increasing our market share.
The year 2016 ended with revenues of Euro 555 million, up by +8.5% (+10.3% at constant exchange rates) and a record result of Euro 100 million in terms of EBITDA (+15.3% compared to 2015). Profit grew by more than 50%, reaching Euro 43 million. In spite of the extraordinary investments, the net financial position is equal to Euro 78 million.
TECHNOGYM has grown in all continents. The most significant data are those of the Asia Pacific area (+18%) and North America (+16%) by virtue of strong growth on the luxury hospitality sector and of the agreements with a major premium fitness club chain in the United States. We are proud to have achieved a profit and EBITDA result that is more than proportionate to revenue growth, and to be able to pay out the dividends to our shareholders.
Innovation has always been the engine of Technogym’s growth and in 2016 we launched more new products, services and contents, such as SKILLMILL, which opens a new category of products, athletic performance training, GROUP CYCLE CONNECT, a new experiential, immersive format for indoor cycling, and POWER PERSONAL, the design product that completes our Personal collection designed by Antonio Citterio. Digital products remain at the center of our innovation strategy, and in 2016 we further enhanced MyWellness – our cloud ecosystem for training management – with new applications and contents. Thanks to the acquisition of the company Exerp, moreover, we integrated the training management software (the CRM), with the club’s management software (the ERP).
TECHNOGYM is an aspirational brand with luxury living and design positioning in the home segment and with premium positioning in the professional segment. Our business model, based on the offer of a complete solution, enables us to cover new markets like hospitality, corporate and health.
In 2017 we will focus on developing digital products and our presence in the United States, the preferential market for our future growth. In spite of a market scenario dominated by uncertainty, we continue to aim at sustainable long-term growth and to invest in research and development, and in 2017 we will introduce more new products and solutions for the various market segments.
Lastly, we continue our commitment in terms of corporate social responsibility in promoting wellness, not only as an economic opportunity, but also as a social opportunity for all stakeholders: for Governments, which can reduce public health costs by activating prevention policies, for Companies, which thanks to wellness programs can rely on more motivated, more creative employees, and for citizens who can improve their daily lifestyle.
Let’s Move for a Better World.