Technogym, a Cesena, Italy-based fitness equipment company, reported revenue for the first quarter of €124.7 million (US$147.9 million), up 6.1 percent compared to the same period a year ago. At constant exchange rates, Technogym’s Q1 revenue increased 12 percent year over year.
Retail was the standout distribution channel during the quarter, with sales in that segment up 33.7 percent to €1.8 million (US$2.1 million), while the largest channel, field sales, increased 7.8 percent to €86.4 million (US$102.52 million). Wholesale sales increased 6.3 percent to €27.5 million (US$32.6 million) while inside sales decreased 11.4 percent to €9.1 million (US$10.8 million).
In Q1, more than 90 percent of total revenue was generated outside of Italy and approximately 40 percent outside of Europe. Revenue showed growth in all main geographic areas. In particular, after the double-digit growth of 2017 also in the first three months of this year, North America reported a strong performance (+14 percent). A significant growth was also recorded for APAC (+7.2 percent) and also the European core market grows more than 3 percent.
Nerio Alessandri, chairman and CEO, said, “After the important sales result of approximately 600 million Euro registered in 2017, Technogym continues to grow in the first quarter of 2018 and to gain market shares in all main geographic areas. Product and digital ecosystem innovation remains the company’s strategic priority both in the sport performance sector, in which thanks to Skill Line Technogym has defined a new product category, and in the design and lifestyle sector with Artis and Personal lines.
“In the first quarter of 2018 we have launched SkillRun, the innovative treadmill specifically designed for athletic training and completely integrated in our digital ecosystem.
“Beside product innovations, Technogym continues to innovate also on processes, in order to realize the new Technogym 4.0, based on IoT-connected equipment, on the Mywellness cloud platform, on the CRM system and on the new SAP IT system, a challenging strategic project—that Technogym has been activating at global level in the last week—to allow the company to face future challenges.”