Technogym (TGYM) Q1 2025 TU earnings summary

Executive summary

• Q1 2025 revenue reached €215 million, up 14.7% year-over-year, with strong growth in both B2B and B2C segments across all regions.

• Launched Healthness™, marking a strategic shift to a Life Science Company focused on preventive healthcare and healthy longevity.

• Continued product innovation with launches such as Technogym Reform (Pilates), Personal Tools, and Artis Luxury line.

• Technogym continues to execute its long-term strategy, leveraging innovation and a new Healthness™ vision for personalized wellness.

Financial highlights

• Q1 2025 revenue reached €215.0 million, up 14.7% year-over-year; at constant FX, growth was 13.8%.

• B2B segment grew 15.6% and B2C grew 11.5% compared to Q1 2024.

• Field sales increased 17.0%, retail sales surged 66.1%, distributor sales rose 10.1%, while inside sales declined 1.8%.

• Revenue increased by €27.5 million year-over-year.

• All geographical areas posted revenue growth: Europe (ex Italy) +17.5%, Americas +28.3%, MEIA +10.5%, APAC +1.9%, Italy +5.0%.

Segment performance

• B2B accounted for 78.0% of Q1 2025 revenue, B2C for 22.0%.

• Both B2B and B2C segments contributed to growth, with B2B leading at +15.6% and B2C at +11.5%.

• All regions contributed, with the Americas showing the highest growth rate at 28.3%.