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Technogym S p A : Press Release on H1 2020 Results
|09/09/2020 | 10:45am|
TECHNOGYM: +50% HOME FITNESS
In line with the strong growth in home fitness the company accelerates digital, e-commerce and consumer marketing development with significant additional investments Focus on profitability and cashflow generation in H1
- CONSOLIDATED REVENUE: Euro 222.4 milllion, compared to 295.3 million of the first half of 2019
- EBITDA ADJ: Euro 37.3 million, compared to 50.4 million of the first half of 2019
- NET PROFIT ADJ: Euro 11.4 million, compared to 25.2 million of the first half of 2019
- FCF: Euro 22,4 million with a conversion rate of 64,6% pre-tax
- NET FINANCIAL POSITION: positive for Euro 14.1 million as of June 2020, improved compared to 3,7 million as of December 2019 despite seasonality
Nerio Alessandri, Chairman and CEO, commented: '2020 will go down in history as a year of strong transformation that has changed not only the economic scenario, but above all habits and lifestyles. With no doubts, psycho-physical well-being and health have risen further within people's priority list: being healthy and in good physical shape not only helps us in prevention but makes us more performing in sport and allow us to live a better life.
In line with this trend, in the first half of 2020, Technogym achieved significant growth (+ 50%) in the Home segment, thanks to an increase in demand for home products and solutions, the quality and the level of innovation of our offering. Our 'Wellness on the Go' strategy, training anytime anywhere, represents a great transformation opportunity also for fitness club, that we have always supported; as a matter of fact, thousands of fitness clubs have evolved their business model thanks to our MyWellness digital platform, to offer online training programs to their members both at home and at the club.
Today we are, more than ever, focused on the 'Technogym Direct to Consumer' priority, envisaging the offer of engaging and personalised training experiences, live and on-demand, thanks to our Technogym Live platform, on equipment, mobile and TV, at home and at the gym. Consumers can thus choose their favourite trainer and training content, developed by both Technogym and fitness clubs. Technogym accelerates the consumer development with significant additional investment - on the basis of a plan that will be presented at next Board of Director's meeting - with the goal of strengthening our leadership, our premium positioning and increase our market shares.
Even though half year revenues have been impacted by Covid, we are very confident of Technogym's growth prospects in the medium-long term: wellness services have a great potential for development and we are the only company featuring an ecosystem able to offer training experiences, for different passions and needs, in rehabilitation and fitness centers, corporate gyms, hotels and especially at home. Since ever we spread digital fitness solutions and today, thanks to artificial intelligence, we are able to offer personalised training services and products to the Technogym community in 100 countries in the world'.
Technogym S.p.A. published this content on 09 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 September 2020 14:44:01 UTC