TECHNOGYM S.P.A.: BOARD OF DIRECTORS APPROVED THE DRAFT CONSOLIDATED RESULTS FOR THE 2017 FINANCIAL YEAR
TECHNOGYM: net profit +42%
- CONSOLIDATED REVENUE: Euro 598,2 million, +7.7% on 2016 (Euro 555 million). At constant exchange rates, consolidated revenue growth stands at +9.2%
- EBITDA: Euro 120,2 million, +20.3% on 2016 (Euro 100 million).
- NET PROFIT: Euro 61.2 million, +42% on 2016 (Euro 43.1 million).
- NET FINANCIAL DEBT: Euro 41.3 million, improved compared to Euro 78 million in 2016
- PROPOSED DIVIDEND of Euro 0.09 per share, totaling Euro 18 million
Nerio Alessandri, Chairman and Chief Executive Officer, said:
“Technogym closed 2017 with a solid sales performance at global level. In particular we are satisfied of our double digit revenues growth in strategic areas for our future development such as China and the United States.
With reference to profits, on behalf of the entire Technogym team, I’m proud to announce to our shareholders that in 2017 we have significantly further improved the good performance registered in 2016, in terms of both net profit and EBITDA.
Technogym confirms its leadership also in digital solutions; our Mywellness open platform, based on cloud and IoT technologies, launched in 2012 today represents the industry point of reference for “Connected Wellness” and features approximately 15.000 connected wellness clubs and over 10 million users using our digital solution, out of a total of 40 million people training with Technogym every day, all over the world. In line with our leadership in digital, in 2017 Technogym become the first player to implement Apple Watch connectivity and today the features in already active in over 5.000 equipment all over the world.
Innovation remains the pillar of our strategy: during the year which just ended Technogym has launched SKILL LINE – a new product range dedicated to athletic training, alongside the more consolidated fitness and medical areas – that includes new products like SKILLROW and SKILLRUN combining design and sport performance. SKILL LINE opens a new market dedicated to sport performance training for every discipline.
2018 started with our seventh Olympic experience, since Technogym has been selected as Official Supplier to the Pyeongchang 2018 Olympic Games in South Korea. Lastly, last week in San Diego, at the most important international trade show in our industry, we have previewed to the main operators SKILLBIKE – the new bike designed for performance training in order to take indoor the real cycling, triathlon and mountain bike experience – that will be launched in the market in the coming weeks”.
Cesena (Italy), March 28, 2018 - The Board of Directors of TECHNOGYM (TGYM.MI), a leader in the international fitness, sport and health equipment market and operating in the broader Wellness industry, today examined and approved the consolidated financial statements and the draft financial statements for 2017, prepared in accordance with International Financial Reporting Standards issued by the International Accounting Standards Board.
TECHNOGYM closed 2017 with revenue up +7.7% compared to the previous year. Growth was particularly significant in some geographic areas strategic for the company’s medium/long-term development: +30% in China and +20% in US.
EBITDA stands at Euro 120,2 million, an increase more than proportionate to revenue growth, as well as improving by over 20% the significant result of 100 million Euro registered in 2016. EBITDA margin is higher than 20%.
The net financial debt registers an improvement of over 36 million, thanks to cash flow generation over the period, allowing to finance significant R&D investments.
In 2017 Technogym has launched new products such as SKILLROW, the new smart rower, and SKILLRUN, the innovative treadmill designed to offer both cardio and power workouts. Together with SKILLMILL, introduced in 2016, the new products widen SKILL LINE, a specific line targeting the athletic training segment, a sector in strong growth all over the world.
As regards innovation, Technogym confirms its leadership in digital solutions thanks to the Mywellness digital platform launched in 2012; in 2017 the company has been the first player in the fitness and wellness industry to introduce Apple Watch connectivity. The compatibility between Technogym products and Apple Watch was launched during joint events in Australia, US and UK. As of today Technogym globally features an installed base of more than 5,000 Apple GymKit-enabled pieces of equipment.
Mycycling, the new digital solution for cyclists allowing indoor simulation on users own road bike, represents the most relevant news for the consumer market.