Technogym Reports Strong Growth as CEO Touts Fitness as Medicine
Nerio Alessandri stated Technogym’s goal of promoting long-term health and wellness through its products, in line with a recent U.N. initiative
Technogym has reported double-digit growth in the first half of 2023, with €370 million ($405 million) in consolidated revenue, a 13.8% increase compared to the first half of 2022.
The smart fitness equipment and digital tech provider noted that it achieved growth in profitability while investing in innovation to enrich its wellness solutions.
Technogym introduced Technogym Run in the first half of the year, boosted the user experience of its app, and incorporated AI models that can adapt to the needs of over 50 million users, an enhancement that resulted in a 30% increase in performance for equivalent training time, the company noted.
Nerio Alessandri, Technogym’s founder and CEO, stated that the company’s strategy of investing in long-term profitable and sustainable growth has resulted in excellent short-term results.
“In the first six months of the year, we recorded a double-digit increase in all key financial indicators, in line with the plans communicated during the recent Investor Wellness Day,” Alessandri said. “Technogym, together with the creation of economic value for customers and shareholders, contributes to social value for individuals, via improved health and quality of life.”
Technogym points to one of the main goals of the United Nations, the “Good Health and Wellbeing Goal,” which aims to reduce the mortality rate from non-communicable diseases by one-third by 2030 via prevention and promoting healthy lifestyles. It’s a goal that Technogym shares, employing its wellness ecosystem of personalized training programs and exercise plans.
“‘Technogym is Medicine’ is our challenge for the future, aiming to become the new ‘sustainable and aspirational medicine’ through prevention and care protocols, promoting healthy longevity with our world-class solutions,” Alessandri added.
In particular, in the first half of 2023, Technogym experienced significant growth in its B2B segment, with a double-digit increase across all its sub-segments, while its B2C segment demonstrated signs of normalization, with the second quarter recording growth compared to the same period in 2022.
In addition to Technogym’s health market concentration, the company has identified sport as a crucial component of its business strategy and brand development. Alessandri referenced the upcoming Paris 2024 Olympics, where Technogym is the exclusive and official supplier, providing smart equipment and services for over 15,000 athletes.
As a passionate advocate for wellness, Technogym’s CEO integrated a new vision of health that blends Italian culture and the Roman philosophy of “a healthy mind is a healthy body.” This balanced approach is one that Alessandri says can have a profound impact on people around the globe.
Alessandri recently released “Be Wellness: Choose to Live Well,” published by Mondadori Electa, where he reveals his wellness secrets and how a healthy society is beneficial to all while offering a step-by-step guide that promotes a holistic approach.
