TECHNOGYM grows: revenue at Euro 555 million (+8.5%) and EBITDA at Euro 100 Million (+15%)
- Consolidated revenue: Euro 555 million, +8.5% on 2015 (Euro 512). At constant exchange rates, consolidated revenue growth stands at +10.3%
- EBITDA: Euro 100 million, +15.3% on 2015 (Euro 86.7 million).Net Profit: Euro 43 million, +54% on 2015 (Euro 28 million).
- Net Financial Debt: Euro 78 million, compared to Euro 38 million in 2015, after non-recurring investments of around Euro 110 million for the acquisition of Technogym Village and the digital company Exerp
- Proposed dividend of Euro 0.065 per share, totaling Euro 13 million
Nerio Alessandri, Chairman and Chief Executive Officer, said:
“Major growth once again in 2016. TECHNOGYM continues to grow faster than its reference market, achieving a record result of Euro 100 million in EBITDA and profit up by more than + 50%. 2016 marks an important milestone in TECHNOGYM’s growth history worldwide, which 30 years since its foundation consolidated a leadership position in our target segment.
We are proud to have achieved a profit and EBITDA result that is more than proportionate to revenue growth, and this means we can pay dividends to our shareholders. Despite the non-recurring investments, the net financial position stands at Euro 78 million. The constant growth recorded in the last 4 years is in line with our long-term sustainable growth strategy.
TECHNOGYM is an aspirational brand with a luxury living and design positioning in the home and hotel segment and a premium positioning within the club and corporate segment. Our business model is based on offering customized solutions that allow us to cover new markets such as consumer, hospitality, corporate, health and sport performance.
Despite a market scenario dominated by uncertainty, we continue to focus on the long-term, investing in Research and Development and in 2017 we will introduce new products and solutions for the different market segments.”
Cesena (Italy), March 6, 2017 - The Board of Directors of TECHNOGYM (MTA: TGYM), 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 2016, prepared in accordance with International Financial Reporting Standards issued by the International Accounting Standards Board.
TECHNOGYM closed 2016 with revenue up +8.5% compared to the previous year, double that of the reference market. Growth was particularly significant in some geographic areas strategic for the company’s medium/long-term development: +16% in North America and +18% in Asia Pacific.
EBITDA stands at a record Euro 100 million, an increase more than proportionate to revenue growth, as well as improving on 2015 by over +15%. The net financial debt rose by only Euro 40 million, despite the major non-recurring investments associated with acquisition of the TECHNOGYM Village and the Danish company Exerp, a leader in digital systems for fitness club management. The continuous investments in digital, in developing IoT based smart equipment and in the unique MyWellness cloud open platform have guaranteed TECHNOGYM a positioning as a leader company in innovation with a tangible benefit in terms of marginality on the entire product and service range.
As regards innovation, in 2016 TECHNOGYM launched several new products and solutions such as SKILLMILL - a product dedicated to the new segment of athletic performance training, GROUP CYCLE Connect, the connected and interactive group cycling format, POWER PERSONAL, the design solution that completes the Personal collection designed by Antonio Citterio, and many new applications for the TECHNOGYM Ecosystem, the only digital ecosystem in the industry, able to connect products, fitness clubs and end consumers via mobile app.
In the year just ended, TECHNOGYM was also a lead player in the Rio 2016 Olympics as official and exclusive supplier: the sixth Olympic experience for the company.