Annual report

Annual report

The trends of health, longevity and sport are gaining momentum at global level, and Technogym has proven over the years to be responsive to this opportunity through its unique ecosystem. The 2023 results confirm our long-term path of sustainable and profitable growth, as promised at the time of our IPO, also thanks to continuous investments in technological innovation.

Nerio Alessandri

A year in review

FINANCIAL HIGHLIGHTS 2023

Investor Presentation
€808m
€808m

Revenues (+12% vs 2022)

€152m
€152m

Adj. EBITDA 1 (+15% vs 2022)

€78m
€78m

Adj. Profit 3(+18% vs 2022)

€157m
€157m

Net Cash Position

Double digit growth in MEIA, Europe and LATAM

Double digit growth in MEIA, Europe and LATAM

  • The Group increased revenues in all geographical regions worldwide, except for APAC, which was impacted by the international macroeconomic conditions recorded in China
  • Good level of growth was registered in North America, both in the USA and Canada, with an overall increase in local currency of 10%.
  • Excellent performance was also observed in Europe, particularly driven by significant growth in the UK (+26%) and Spain (+23%)
  • In MEIA, the overall result also benefited from the consolidation of Emirates at the Group level.
Strong growth in BtoB

Strong growth in BtoB

Commercial or BtoB

  • All segments grew ▪Growth level was double digit for all the segments
  • Health Corporate and Performance Segments being the best performer boosted thanks to the unique positioning of Technogym able to identify the precise posology

Consumer or BtoC

  • Home segment back to growth in second half of 2023 allowing a more than complete recovery compared to 2022 numbers
Strong growth in Field Sales and Retail

Strong growth in Field Sales and Retail

  • Field sales performance boosted by increased productivity
  • Retail pushed by new openings in Germany and UK
  • Wholesale posted another positive year with significant performance in LATAM, MEIA and Europe
  • It is also worth noting that the customer base of Technogym is very well fragmented and there are no customers who represent more than 10% of Company’s revenue

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 Reports and presentations

Reports and presentations

Browse all our financial report and presentations

Sustainability reporting centre

Sustainability reporting centre

Operating sustainably is central to Technogym’s purpose. This section covers some of the Group’s key Environmental, Social and Governance (ESG) activities.