Technogym Reports Record Revenues in 2022
Technogym will share its strategies and growth opportunities during its upcoming Investor Wellness Day, scheduled for June 19
Technogym has reported record revenues for 2022, with consolidated revenue of € 721.5 million (+18% compared to 2021) that the wellness company says is a result of double-digit growth on all continents, particularly in North America. Despite a challenging market, the United States (+46%) and Europe (+14%) drove the positive performance, says Technogym.
The wellness company says the new data reflects its speed and flexibility in adapting to the challenges of the pandemic, showing significant growth in the consumer segment and demonstrating +29% growth in the commercial segment. According to Technogym, the hospitality and residential sectors, as well as health corporate and performance, achieved the highest results in history.
“Technogym is recognized as the iconic wellness brand, built over forty years of research and innovation. The record revenues achieved in 2022 are an important result for which we thank our employees and stakeholders,” said Nerio Alessandri, President and CEO. “Our uniqueness has been even more evident as customers continued to show their support thanks to our record investments in digital innovation and AI.”
Alessandri added that the results allow Technogym to strengthen its value proposition and brand equity, offering an “unparalleled training experience” and supporting industry operators in the market recovery phase.
“We will continue to grow and create value to be more and more relevant within the education towards wellness and health lifestyle, in coherence with our “Let’s Move for a Better World” mission,” Alessandri added.
The Technogym CEO publicly committed to the wellness company this year, telling Bloomberg that his passion, time, and commitment is “100%” Technogym,” despite selling roughly 52 million shares.
Technogym says the 2022 results are even more impactful when considering the need to adjust prices due to increased raw material and transportation costs while maintaining stability.
However, the fitness and wellness brand did mention that the uncertainty of international politics and inflationary pressures have impacted the consumer segment, which saw turnover decrease by -9%.
Looking ahead, Technogym notes the resiliency of the wellness industry, bolstered by the expected growth rate to reach 9.7% over the next three years and the increasing number of visits to fitness centers.
Technogym also points to the increasing creation of workout content on social media platforms to promote a healthier lifestyle.
The brand recently launched its smart exercise bike, Ride, in the U.S., making it a formidable competitor to Peloton. In addition, Technogym enjoyed a social media shout-out from celebrity and Marvel star Jeremy Renner, who shared that he uses a Technogym bike in rehabbing his injuries from a serious snow plow accident earlier this year.
The company says it will share its strategies and growth opportunities with the financial community during its Investor Wellness Day, scheduled for June 19.
