Technogym, the Italian specialist in equipment and digital technologies for fitness, has reported consolidated revenues of €175 million for the first quarter of 2023, representing a 15.2 percent increase compared to the same period of 2022, or a 15.5 percent increase at constant exchange rates. The sales increase was driven by the continued growth of the B2B (commercial) segment, which includes the return of the Club segment above the revenue levels in 2019.
Sales in the B2B segment grew 26.3 percent to €136 million during the quarter. Sales in the B2C (home) segment of €39 million were lower when compared to €44 million in the same period a year ago, but much higher than the B2C revenues recorded in 2019. The B2C Prestige segment showed “the greater resilience,” the company said.
By geography, the company recorded growth in almost all regions. Sales in Europe (excluding Italy) increased by 15.9 percent year-over-year. Italy saw revenues jump by 20.8 percent. The MEIA (Middle East, India, Africa) region posted a stunning 48.6 percent increase, driven by the steady increase in demand for high-tech wellness solutions.
North America also recorded a revenue increase (+8.5 percent), despite the negative impact of seasonality often seen in the first quarter. Conversely, the APAC region saw revenues decline by 3.5 percent year-over-year, impacted by the situation in China due to the carryover effect of the lockdown that occurred in 2022.
Technogym will share its strategy with the financial community during the Investor Wellness Day, scheduled for June 19, 2023 at the Technogym Village in Cesena, Italy.
