Olympics supplier Technogym core profit up 12.4% in first half

Technogym

02/08/2024 14:32

MILAN, Aug 2 (Reuters) - Core profit at Technogym
 TGYM.MI  rose by 12.4% in the first half of the year ahead of
the Paris 2024 Olympics, for which the fitness equipment maker
is official supplier.
    Adjusted earnings before interest, taxes, depreciation and
amortisation after lease costs in the six months through the end
of June came in at 66.7 million euros ($72.65 million) while
sales rose by 8.7% to 402.1 million euros.
    Shares in the Milan-listed company were up 5.5% by 1300 GMT,
outperforming a 2% fall in Italy's all-share index  .FTITLMS 
    Technogym said it expected it would further benefit in the
medium term from the "unprecedented media exposure" at the
current Olympics. 
    The company has equipped 29 training centres for the
athletes to train prior and during the Games, including in the
Olympic and Paralympic Village, according to a previous
statement.

($1 = 0.9181 euros)

 (Reporting by Elvira Pollina, editing by Gianluca Semeraro)
 ((elvira.pollina@thomsonreuters.com;))