Technogym (TGYM) Q4 2025 earnings summary

Executive summary

• Achieved record consolidated revenues of €1,019 million for FY 2025, up 13.1% year-over-year, surpassing €1 billion for the first time and marking over 40 years of growth, profit, and cash generation.

• Adjusted net profit rose 33% to €120 million, with all key financial indicators showing strong growth.

• Launched the Healthness™ concept, focusing on preventive healthcare and healthy longevity.

• Expanded global presence with new openings in South Africa, Indonesia, Mexico, Saudi Arabia, and activations in key markets.

• Recognized as the official sponsor and exclusive supplier for the Milano Cortina 2026 Olympic and Paralympic Games, marking the tenth Olympic partnership.

Financial highlights

• Revenue reached €1,019 million, up 13.1% year-over-year; at constant FX, growth was 14.6%.

• Adjusted EBITDA rose 23.4% to €220 million, with margin improving to 21.6% from 19.8%.

• Adjusted EBIT increased 34.2% to €164 million.

• Adjusted net profit grew 33.0% to €120 million.

• Free cash flow (recurring) improved to €130 million from €116 million in 2024.

Outlook and guidance

• Continued investment in R&D, AI, and digital ecosystem to drive future growth and innovation.

• Focus on expanding both commercial (B2B) and private (B2C) segments, with B2B up 14.9% and B2C up 6.2% year-over-year.

• Confident in continued growth, supported by AI-driven personalized wellness solutions and strong brand positioning.

• Geopolitical tensions, especially in the Middle East, have had limited business impact so far.

• Focus remains on innovation, margin recovery, and expanding operating leverage for long-term margin improvement.