Technogym S p A : Press Release consolidated revenues first quarter 2021

The Technogym Board of Directors reviewed the consolidated revenues of the first quarter of 2021

TECHNOGYM GROWS DOUBLE DIGIT

• CONSOLIDATED REVENUE: Euro 128,7 million (+10.2% Vs first quarter 2020). At constant exchange rates: +13.1% Vs 2020
• Home Fitness BtoC growth accelerates, +129.2% at Euro 51.3 million in the period, with an incidence on revenues of 40% (Vs 15% in Q1 2020)
• BtoB recovers in the geographical areas that are restarting

Nerio Alessandri, Chairman and CEO, commented:
'Technogym closes the first quarter of 2021 with double-digit growth in revenue, substantially in line with the first quarter of 2019, and a more than proportional growth in profitability. This is the result of a further acceleration in home fitness sales at +130% and the recovery of BtoB, starting from the health segment. The Fitness Club segment is also restarting, especially in Asia Pacific and UK, areas in which end-users are enthusiastically going back to gyms and operators have confirmed their investment plans. In the coming months also the rest of Europe and North America are expected to restart.
Within the wellness sector, at global level, the hybrid model is emerging as the new trend: training not only in the gym but also at home and vice versa. Technogym's strategy has been, for years, represented by 'Wellness on the go' - thanks to our exclusive digital ecosystem, we are the only ones to offer people an online and offline training experience at home, in the gym, in the office or on vacation - that is proving to be more innovative than ever in the current post covid scenario.
For many years we have spread our ecosystem of connected products in thousands of fitness centers and in July we will launch the Technogym app, to offer people better results in less time with an unprecedented level of personalization, engagement and customer experience. The Technogym app, connected to the equipment, is also equipped with a vast library of video on-demand workouts and an AI-based coach. The coach follows the user and optimizes the program according to his needs allowing him to feel part of the community.
In recent weeks we are already working on the upcoming Tokyo Olympics, the eighth for Technogym, to support the athletic training of over 12,000 champions from all over the world. We look to the rest of 2021 with confidence: in the second quarter we are seeing an increase in the growth rate compared to the first and, with a passionate and competent management, we are focused on our path to reach a billion in turnover in 2024.
I would like to thank our customers who, all over the world, are showing confidence in our products and solutions for the maximum satisfaction of end users and the team for their commitment and dedication in the last difficult year'.