Technogym S.p.a · MIL:TGYM

Technogym — FY2025 Earnings Presentation

89 slides from Technogym's earnings presentation, Mar 19, 2026

1. Slide 1: FY 2025 Financial Results

   FY 2025 Financial Results Cesena, Italy – March 19th 2026 Strictly private & confidential

2. Slide 2: Speakers

   Speakers Nerio Alessandri William Marabini Michele Bertacco Founder, Chairman & CEO Chief Financial Officer Investor Relations Director Strictly private & confidential 2

3. Slide 3: Disclaimer

   Disclaimer This presentation is being furnished to you solely for your information and may not be reproduced or redistributed to any other person. This presentation might contain certain forward-looking statements that reflect the Company’s management’s current views with respect to future events an

4. Slide 4: Agenda

   Agenda  Opening Remarks Nerio Alessandri  2025 Highlights Michele Bertacco  FY 2025 Financials William Marabini  Closing Remarks Nerio Alessandri  Q&A Strictly private & confidential 4

5. Slide 5: Opening Remarks

   OPENING REMARKS Strictly private & confidential 5

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8. Slide 8: Technogym’s track record of organic growth

   Technogym’s track record of organic growth 1B€+ in 2025 1B€+ 1983 1984 1986 1990 1994 1998 2002 2006 2010 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 40+ years of GROWTH, PROFIT, CASH GENERATION Strictly private & confidential 8

9. Slide 9: Technogym: a Global Brand

   Technogym: a Global Brand Strictly private & confidential 9

10. Slide 10: Technogym Users worldwide

    Technogym Users worldwide

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13. Slide 13: 2025 Key Facts

    2025 KEY FACTS Strictly private & confidential 13

14. Slide 14: Technogym invents and launches the Healthness concept

    Technogym invents and launches the HealthnessTM concept Cesena, February 15th After 40 years of Wellness, Technogym launches Healthness. Healthness (pending trademark) represents preventive healthcare, to improve physical performance and ensure healthy longevity. Strictly private & confidential 14

15. Slide 15: "The Art of Wellness" Book by Assouline

    "The Art of Wellness" Book by Assouline New York, March 7th Technogym, in partnership with the prestigious publishing house Assouline, presents the book “The Art of Wellness” This photographic volume celebrates technogym’s design and the vision of the brand that has transformed the functional concep

16. Slide 16: Milano, April 7-13

    Milano, April 7-13 Strictly private & confidential 16

17. Slide 17: Cologne, April 10th-13th

    Cologne, April 10th-13th Strictly private & confidential 17

18. Slide 18: Rimini, May 29 – June 1

    Rimini, May 29 – June 1 Strictly private & confidential 18

19. Slide 19: Pure Strength Launch

    Pure Strength Launch Rimini Wellness PURE STRENGTH is the new platform dedicated to strength training, designed to meet the needs of various communities, from bodybuilding to functional fitness. At the core of the offering is the iconic plate-loaded equipment line, designed to deliver maximum biomec

20. Slide 20: Formula 1 chooses Technogym’s gym equipment and wellness program

    Formula 1® chooses Technogym’s gym equipment and wellness program Strictly private & confidential 20

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35. Slide 35: Sustainability: EcoVadis upgrades Technogym to Platinum Medal

    Sustainability: EcoVadis upgrades Technogym to Platinum Medal Strictly private & confidential 35

36. Slide 36: Product Innovations

    PRODUCT INNOVATIONS Strictly private & confidential 36

37. Slide 37: The Technogym Ecosystem

    The Technogym Ecosystem Strictly private & confidential 37

38. Slide 38: NEW Technogym Checkup for AI Adaptive Training

    NEW Technogym Checkup for AI Adaptive Training Strictly private & confidential

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42. Slide 42: NEW Technogym Reform

    NEW Technogym Reform Strictly private & confidential 42

43. Slide 43: STRENGTH – Selection line extension

    STRENGTH – Selection line extension Strictly private & confidential 43

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46. Slide 46: NEW Excite+

    NEW Excite+ Strictly private & confidential 46

47. Slide 47: NEW Luxury Living Top Locations 2025

    2025 NEW LUXURY LIVING TOP LOCATIONS Strictly private & confidential 47

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74. Slide 74: FY 2025 Financials

    FY 2025 FINANCIALS Strictly private & confidential 74

75. Slide 75: FY 2025 Summary: solid growth across all KPI’s

    FY 2025 Summary: solid growth across all KPI’s NET PROFIT FCF REVENUE ADJ recurring € 1+ BN € 120 M € 130 M +13.1% YoY +33.0% YoY +11.6% YoY Strictly private & confidential 75

76. Slide 76: FY 2025 Summary: Double digit growth

    FY 2025 Summary: Double digit growth € millions 2025 2024 2024 vs 2024 2025 2023 P&L 1,019 Revenue 901 +8.7% +13.1% 220 EBITDA ADJ 178 +23.4% +12.4% 164 EBIT ADJ 122 +14.6% +34.2% 120 Net profit ADJ 90 +33.0% +15.7% Balance sheet Net Fin. Position* 169 +8.8 +21.7 MLN 160 Free Cash Flow* 130 116 +13.

77. Slide 77: Revenue up +14.6% net of FX

    Revenue up +14.6% net of FX +14.6% +13.1% 1,033.3 1,019.3 901.3 FY 2024 FY 2025 FY 2025 @constant FX Strictly private & confidential 77

78. Slide 78: Increase everywhere with significant expansion in Europe and Americas

    Increase everywhere with significant expansion in Europe and Americas +13.1% 2025 vs PY 1,019.3 901.3 479.7 EUROPE +15.3% (47.1%) (EXCL. ITA) 416.1 (46.2%) 168.2 AMERICAS* 146.4 (16.5%) +14.9% (16.2%) 134.7 MEIA 126.4 (13.2%) +6.5% (14.0%) 122.2 128.7 APAC (12.6%) +5.3% (13.6%) 90.1 108.0 ITA +19.9%

79. Slide 79: Growth both in Commercial and Private

    Growth both in Commercial and Private +13.1% 1,019.3 2025 vs PY 901.3 823.6 BtoB +14.9% 716.9 (80.8%) (79.5%) 184.4 195.7 BtoC +6.2% (20.5%) (19.2%) FY 2024 FY 2025 Strictly private & confidential 79

80. Slide 80: Field Sales and Retail driving growth

    Field Sales and Retail driving growth +13.1% 2025 vs PY 1,019.3 901.3 691.2 FIELD SALES +15.9% 596.6 (67.8%) (66.2%) 215.6 230.0 DISTRIBUTORS +6.7% (23.9%) (22.6%) INSIDE SALES* -1.5% 64.9 63.9 24.3 (7.2%) 34.1 (6.3%) RETAIL +40.7% (2.7%) (3.3%) FY 2024 FY 2025 * includes E-Commerce and Teleselling

81. Slide 81: Statutory Profit & Loss FY 2025

    Statutory Profit & Loss FY 2025 % on % on € millions FY 2025 sales FY 2024 sales Var. Var. % Comments Total Revenue 1,019.3 901.3 118.0 13.1% Cost of raw, ancillary and consumable materials and goods for resale (321.4) (31.5%) (288.7) (32.0%) (32.6) 11.3%  Revenue grew +13.1% to 1,019 m€ (+14.6% at

82. Slide 82: Exceptional performance in trade working capital management

    Exceptional performance in trade working capital management 64.6 49.4 110.9 112.0 INVENTORIES 132.8 131.8 TR. RECEIVABLES -179.1 -194.4 TR. PAYABLES FY 2024 FY 2025 7.2% 4.8% % on Sales rolling LTM 5.3x 6.0x Inventory Turnover 42 43 IFRS Balance DSO 111 111 IFRS Balance DPO Strictly private & confid

83. Slide 83: CapEx: Investing in R&D, AI, Digital

    CapEx: Investing in R&D, AI, Digital 4.3% 5.1% 6.4% % ON REVENUE 12.9 65.2 52.4 39.5 PPE 39.0 26.5 19.1 25.9 25.8 INTANGIBLES 19.9 FY 2024 FY 2025 Special FY 2025 recurring projects* * Plant expansion in Slovakia Strictly private & confidential 83

84. Slide 84: Free cash flow continues the trend of improvement

    Free cash flow continues the trend of improvement Cash Conversion recurring 82.4% 218.9 11.1 177.6 2025 -52.4 129.9 117.1 FY -47.7 -12.9 Cash Flows from NWC CapEx FCF recurring Taxes paid FCF Special projects FCF operat. activities before Taxes recurring (Capex) reported Cash Conversion 86.2% 177.0

85. Slide 85: Net Financial Position

    Net Financial Position 160.1 168.8 156.0 270.7 -12.9 227.6 CASH, DEPOSITS, 214.7 CASH EQUIV. 0.0 BANK DEBTS 0.0 0.0 IFRS 16 -47.1 -53.7 -53.7 LEASING -3.8 -3.8 EXPOSURE -63.4 -1.3 -1.3 OTHER & -0.2 DERIVATES FY 2024 FY 2025 Special FY 2025 recurring projects reported (Capex) Strictly private & confi

86. Slide 86: Net Financial Position walk

    Net Financial Position walk +8.8 -4.1 +15.3 218.9 11.1 -52.4 -47.7 59.9 222.5 47.1 207.2 0.4 -11.6 168.8 160.1 156.0 -162.5 -0.8 -53.7 -12.9 DEC. IFRS16 DEC. CF from NWC CapEx Taxes Dividends Dividends Purchase Leasing Financial, DEC. IFRS16 DEC. Special DEC. 2024 Lease 2024 operat. (recurring) (1)

87. Slide 87: Balance Sheet December 2025

    Balance Sheet December 2025 % on % on € millions FY 2025 sales FY 2024 sales Var. % Inventories 112.0 11.0% 110.9 12.3% 1.0% Trade receivables 131.8 12.9% 132.8 14.7% (0.8%) Trade payables (194.4) (19.1%) (179.1) (19.9%) 8.5% Trade Working Capital 49.4 4.8% 64.6 7.2% (23.6%) Other current assets/(li

88. Slide 88: Closing Remarks

    CLOSING REMARKS Strictly private & confidential 88

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