Technogym sees strong recovery in 2021

Technogym

24/03/2021 14:23

March 24 (Reuters) - Italian fitness equipment maker
Technogym  TGYM.MI  said on Wednesday it expects a boom in gym
memberships to boost a recovery in its business-to-business
segment this year after pandemic-related lockdowns weighed on
full-year results.
    Revenues in 2020 fell 23.8% year-on-year to 510 million
euros ($603.08 million) despite a 70% jump in home fitness, as
gyms stayed closed for an extended period of time to curb the
spread of the coronavirus.
    The company, which supplies sports events such as the
Olympics and Ironman, confirmed its target of 300 million euros
in home fitness revenues in 2022.
($1 = 0.8457 euros)

 (Reporting by Silvia Recchimuzzi in Gdansk; editing by
Agnieszka Flak)