The Italian fitness and wellness equipment company claims to be the industry leader in “connected fitness.” Its cloud-based Mywellness platform, which was launched in 2012, is now connected with 15,000 wellness clubs around the world. It is used by about one-fourth of the 40 million people who are estimated to be training with Technogym equipment worldwide.
Technogym points out that it was the first fitness equipment company to implement Apple Watch connectivity. The connection is now available in more than 5,000 pieces of equipment all over the world.
In the consumer market, the company's most relevant recent introduction was Mycycling, a new digital solution for cyclists that allows indoor simulation for users of their own road bikes.
Reporting a 42 percent increase in net income to €61.2 million for 2017, Technogym proposes a dividend payout of €18 million for the financial year. Ebitda rose by 20.3 percent to €120.2 million, resulting in an Ebitda margin of more than 20 percent.
As previously reported, the wellness company's consolidated revenues grew by 7.7 percent to €598.2 million for the year, driven by strong double-digit increases in North America, South America and China.
Technogym went public in May 2016 at a price of €3.25 a share. The price has been climbing steadily to a level that is nearing €10.0 a share, giving the company a market capitalization of almost €2 billion, or more than 16 times its Ebitda.
