Technogym Hits Record Revenues, Outfits Olympics


Technogym’s steady hand is paying dividends — in reputation, partnerships, and on the balance sheet.

Big Gains

Technogym recently reported 2022 earnings, notching record revenues and impressive growth while expanding its ecosystem.

By the numbers:

  • Full-year revenue was €721.5M, up 18% from 2021.
  • Adjusted net profit grew 29%, reaching €66M.
  • B2B sales grew 29%, with record results from hospitality, residential, and corporate segments.

Of note, its fastest-growing regions were North America (+46%) and MEIA (+34%). Yet, despite political and inflationary hurdles in Europe, its largest market still gained 14.4% YoY.

New partnerships. Earlier this month, Technogym was named as the exclusive supplier of the Paris 2024 Olympic Games, equipping 29 training centers with ~1.2K pieces of cardio, strength, and functional equipment.

This joins recent partnerships with the PGA Tour and an integration with Apple Music, which syncs 100M songs for Technogym subscribers.

New tech. Built on design and innovation, the Italian company debuted a tech-enabled modular strength rig called Universe and Teambeats, a hardware/software package for group fitness operators pairing exercisers’ heart rates with personalised class design.

This past week, it unveiled an ultra-quiet smart treadmill, designed for HIIT training at home.

New price. Adjusting for increases in raw material and transportation costs, Technogym raised prices for its equipment proportionally. The effect? Stable volumes and increased revenue.

With years spent establishing itself as both a luxury good and high-performance training tool, the company commands unrivaled pricing power among high-end gyms, hospitality, and corporate sectors — a cohort fairly insensitive to the premium cost.

Ups and downs. Heading the other direction, with a financial squeeze and waning demand for at-home equipment, Technogym’s consumer segment fell 9% YoY.

But, leveraging an open and evolving ecosystem of hardware, software, and content for both the operator and consumer, the brand expects to grow 9.7% over the next three years.

Punchline: With global wellness spending rising sharply, Technogym is well-positioned to capitalise on growth in hospitality, real estate, and corporate sectors.

Global health and fitness news, straight to your inbox.

Join a community of 20K+ industry operators and investors.

    No thanks.