Annual operating income increased by 4.9 percent to €82.8 million from €78.9 million for Technogym as the Italian company realized 14.9 percent constant-currency revenue growth to €721.5 million, driven by expansion in the business-to-business sector. Sales to consumers declined by 9.0 percent year-over-year to €165.4 million from €181.7 million but rose by 29.4 percent to €556.1 million in the B2B channel.
The group said price increases and product mix offset inputs costs and logistics expense inflation last year. Demand for at-home training is said to remain high “in a normalized market scenario across all the geographies where the company operates.”
FY22 adjusted Ebitda rose 23.3 percent to €131.9 million with a margin of 18.3 percent versus 17.5 percent. Adjusted net profit improved by 29.1 percent to €66.1 million and was 1.0 percent on a reported basis at €63.9 million.
Regionally, the annual double-digit sales growth was led by a 46.4 percent increase in the North American market to €101.1 million, followed by a 34.4 percent jump in MEIA revenues to €83.7 million and a 15.8 percent lift in the LATAM region to €17.5 million. Meanwhile, Technogym, which is forecast 9.7 percent CAGR growth in the global wellness economy through 2025, reported a 1 percent FY22 sales increase in its home market to €63.7 million and a 10.4 percent gain in APAC to €122.3 million.
