Technogym S.p.a · MIL:TGYM
Technogym — FY2024 Earnings Presentation
44 slides from Technogym's earnings presentation, Mar 26, 2025
Slide 1: FY 2024 Financial Results
FY 2024 Financial Results Investor Relations Cesena – March 26th, 2025 Strictly private & confidential
Slide 2: Speakers
Speakers Nerio Alessandri William Marabini Michele Bertacco Founder, Chairman & CEO Chief Financial Officer Investor Relations Director Strictly private & confidential
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
Slide 4: Index
Index > Nerio Alessandri’s Opening Remarks Opening 40 years A Growth Story From Paris to Cortina A Global Love Brand > Another Year of Investments and Innovation Technogym App Technogym Unique Digital Ecosystem Technogym Check Up Strength and Med New Boutiques > What’s Next Technogym Evolution Long-
Slide 5: Nerio Alessandri
Nerio Alessandri Strictly private & confidential 5
Slide 6: 40
40
Slide 7: Technogym's track record
Technogym’s track record €m € 901 m 1983 1984 1986 1990 1994 1998 2002 2006 2010 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 40+ years of GROWTH, PROFIT, CASH GENERATION ► Note: 2022 turnover as rounded Consensus estimates
Slide 8: Paris 2024
PARIS\2024
Slide 9: And now, Milano – Cortina 2026
And now, Milano – Cortina 2026
Slide 10: Technogym in 120 Countries: Global Brand
Technogym in 120 Countries: Global Brand Exclusive Independent 15 Subsidiaries 53 Boutiques 85+ Partners UK Benelux Canada France Germany USA Portugal Italy Japan Spain China UAE Hong- Arabia Kong Australia
Slide 11: 70 Mln Technogym Users worldwide
70 Mln Technogym Users worldwide Strictly private & confidential 11
Slide 12: Another Year of Investments and Innovation
ANOTHER YEAR OF INVESTMENTS AND INNOVATION Strictly private & confidential
Slide 13: Technogym App
TERaNOGYM ~y Technogym App Today, 15 October PRECISION PROGRAM Download the Technogym app Start moving See the results in your Wellness Passport
Slide 14: Technogym Digital Ecosystem – A Personalized Wellness Experience
Technogym Digital Ecosystem – A Personalized Wellness Experience AI & DATA DRIVEN Strictly private & confidential 14
Slide 15: Technogym Digital Ecosystem – The Open Platform to connect all personal data
Technogym Digital Ecosystem – The Open Platform to connect all personal data Technogym Digital Ecosystem is an Open Platform that integrates with third party platforms, equipment and devices and consumers apps and wearables for a seamless connected experience Strictly private & confidential 15
Slide 16: Technogym Checkup
Technogym Checkup Strictly private & confidential
Slide 17: Strength: Technogym Biostrength
Strength Technogym Biostrength
Slide 18: Connected Dumbbells
NO = Connected Dumbbells
Slide 19: Functional Training
Functional Training Universe
Slide 20: Medical
Medical New Rev Line
Slide 21: New Openings
New Openings London Hamburg New York Paris Paris
Slide 22: What's Next? The Future of Wellness
WHAT’S NEXT? The Future of Wellness Strictly private & confidential
Slide 23: Healthness, a further step towards our growth
HealthnessTM, a further step towards our growth HEALTHNESSTM For over 40 years, we have continued to redefine the concept of fitness, well-being, and health. Wellness Era + AI & DATA Fitness Era + Bodybuilding Era DIGITAL + ELECTRONICS BIOMECHANICS
Slide 24: Health is Wealth
Health Market as top-of-mind priority 1 2 3 4 Increased interest of Ageing population Governments Corporate focus on consumers for longevity emphasizes prevention aiming to reduce employee's wellness and wellbeing and health needs healthcare costs and HC cost reduction ▪ From life-span to health-spa
Slide 25: Welcome to the Healthness era
Welcome to the HealthnessTM era After 40 years of Wellness, Technogym launches Healthness and becomes a Life Science Company GENETICS ACCOUNT FOR ONLY 20% OF HEALTH, WHILE LIFESTYLE FACTORS CONTRIBUTE 80% The ability to predict diseases before they manifest, using Data and Artificial Intelligence (A
Slide 26: Current Market Space / Potential Market Space
Current Market Space Fitness Healthness Potential Market Space Strictly private & confidential 26
Slide 27: FY 2024 Financial Results
FY 2024 Financial Results Strictly private & confidential
Slide 28: 2024 FY All Key Performance Indicators improving
2024 FY All Key Performance Indicators improving € millions 2024 2023 2024 vs 2023 P&L 901 Revenue 808 +8.7% +11.5% 178 EBITDA ADJ 152 +12.4% +17.3% 122 EBIT ADJ 101 +14.6% +20.7% 90 Net profit ADJ 78 +15.0% +15.7% Balance sheet 160 Net Fin. Position 127 +21.7 +33.3 MLN 116 Free Cash Flow 71 +44.9 +
Slide 29: Revenue growth at constant FX +11.7%
Revenue growth at constant FX +11.7% +11.7% +11.5% 901.3 902.5 808.1 2023 FY 2024 FY 2024 FY @costant FX € millions Porto Montenegro Strictly private & confidential
Slide 30: Strong growth in MEIA, Americas & Europe
Strong growth in MEIA, Americas & Europe +11.5% 901.3 2024 vs Y-1 808.1 416.1 EUROPE +10.1% (46.2%) (EXCL. ITA) 378.1 (46.8%) 146.4 AMERICAS +13.9% 128.6 (16.2%) (15.9%) 126.4 MEIA +16.3% 108.7 (14.0%) (13.5%) 115.7 122.2 APAC +5.6% (14.3%) (13.6%) 76.9 90.1 ITA +17.1% (9.5%) (10.0%) 2023 FY 2024 FY
Slide 31: Growth in both segments
Growth in both segments +11.5% 901.3 2024 vs Y-1 808.1 716.9 BtoB +11.6% 642.4 (79.5%) (79.5%) 165.7 184.4 BtoC +11.3% (20.5%) (20.5%) 2023 FY 2024 FY Madrid Strictly private & confidential
Slide 32: Strong growth in Retail and Distributors
Strong growth in Retail and Distributors +11.5% 901.3 2024 vs Y-1 808.1 596.6 FIELD SALES +10.3% (66.2%) 540.7 (66.9%) 215.6 DISTRIBUTORS +13.1% 190.6 (23.9%) (23.6%) 64.9 INSIDE SALES* +6.1% 61.1 15.6 (7.6%) 24.3 (7.2%) RETAIL +55.7% (1.9%) (2.7%) 2023 FY 2024 FY * includes E-Commerce and Teleselli
Slide 33: Statutory Profit & Loss FY 2024
Statutory Profit & Loss FY 2024 € millions FY 2024 % on sales FY 2023 % on sales Var. Var. % Comments Total Revenue 901.3 808.1 93.2 11.5% Cost of raw, ancillary and consumable materials ▪ Revenue grew +11.5% (+11.7% at constant F/X), mainly (288.7) (32.0%) (269.8) (33.4%) (18.9) 7.0% and goods for
Slide 34: Trade working capital
Trade working capital 64.6 68.0 110,9 INVENTORIES 103,6 119,8 132,8 TRADE RECEIVABLES -155,4 -179,1 TRADE PAYABLES 2023 FY 2024 FY 8.4% 7.2% % on Sales rolling LTM 5.1x 5.3x Inventory Turnover 43 42 IFRS Balance DSO 106 111 IFRS Balance DPO Strictly private & confidential
Slide 35: Capex: Investing in Digital, IT, Retail
Capex: Investing in Digital, IT, Retail 4.4% 4.3% % ON REVENUE 39.0 35.3 19,1 PPE 16,5 18,8 19,9 INTANGIBLES 2023 FY 2024 FY Strictly private & confidential
Slide 36: Free cash flow shown remarkable result
Free cash flow shown remarkable result Cash Conversion 86.2% 177.0 13.2 151.2 2024 -39.0 116.4 FY -34.8 Cash Flows from NWC Capex Free Cash Flow Tax paid Free Cash Flow operat. activities (before Tax) Cash Conversion 63.2% 145.9 2023 -14.8 95.9 FY -35.3 71.5 -24.4 Cash Flows from NWC Capex Free Cash
Slide 37: Net Financial Position improving YoY
Net Financial Position improving YoY 160.1 126.8 270,7 CASH AND DEPOSITS 229,0 BANK DEBTS 0.0 0.0 -102,2 -110,7 OTH. FIN. DEBTS 2023 FY 2024 FY Strictly private & confidential
Slide 38: Net Financial Position at € 160.1 m
Net Financial Position at € 160.1 m +33.3 +36.6 13,2 177,0 -39.0 -34.8 0,4 -55.2 207,2 -13.1 43,8 170,6 -11.9 160,1 126,8 -47.1 2023 IFRS16 2023 Dec. CF from NWC Capex Taxes Dividend Own Shares Dividends Financial, 2024 Dec. IFRS16 2024 Lease debt excl. IFRS16 operat. paid from other leases costs ex
Slide 39: Balance Sheet December 2024
Balance Sheet December 2024 % on % on € millions FY 2024 sales FY 2023 sales Var. % Inventories 110.9 12.3% 103.6 12.8% 7.1% Trade receivables 132.8 14.7% 119.8 14.8% 10.9% Trade payables (179.1) (19.9%) (155.4) (19.2%) 15.3% Trade Working Capital 64.6 7.2% 68.0 8.4% -4.9% Other current assets/(liab
Slide 40: Closing Remarks
CLOSING REMARKS Nerio Alessandri Strictly private & confidential
Slide 41: Technogym becomes the prescribed "medicine"
THE DREAM TECHNOGYM BECOMES THE PRESCRIBED “MEDICINE” Trainers Doctors Government & Insurance
Slide 42: Technogym is the only aspirational "medicine"
TECHNOGYM IS THE ONLY ASPIRATIONAL “MEDICINE” Strictly private & confidential 42
Slide 43: Strictly private & confidential
Strictly private & confidential
Slide 44: Q&A
Q&A Strictly private & confidential