Brief: Technogym H1 Net Profit Down At EUR 6.1 Mln

Technogym

09/09/2020 14:41

Sept 9 (Reuters) - Technogym SpA  TGYM.MI :
    * H1 TOTAL REVENUE EUR 222.4 MILLION VERSUS EUR 295.3
MILLION YEAR
AGO
    * H1 NET PROFIT EUR 6.1 MILLION VERSUS EUR 25.3 MILLION YEAR
AGO
    * H1 NET PROFIT ADJUSTED EUR 11.4 MILLION VERSUS EUR 25.2
MILLION
YEAR AGO
    * IT IS CONSIDERED INEVITABLE THAT PERSISTENCE OF PANDEMIC
IMPACTS
AND RELATED DEGREE OF UNCERTAINTY WILL NEGATIVELY AFFECT 2020
RESULTS COMPARED TO 2019
    * FIRST HALF RECORDED A 24.7% DECREASE IN TURNOVER, GROWTH
OF HOME
& CONSUMER SEGMENT WAS SIGNIFICANT (+50%)
    * IN LINE WITH STRONG GROWTH IN HOME FITNESS THE COMPANY
ACCELERATES DIGITAL, E-COMMERCE AND CONSUMER MARKETING
DEVELOPMENT WITH SIGNIFICANT ADDITIONAL INVESTMENTS
    * TECHNOGYM'S CEO SAYS EVEN THOUGH HALF YEAR REVENUES HAVE
BEEN
IMPACTED BY COVID, IS CONFIDENT OF TECHNOGYM'S GROWTH PROSPECTS
IN MEDIUM-LONG TERM

Source text for Eikon:  ID:nBIA2Nvd99 
Further company coverage:  TGYM.MI 

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