Technogym's Core Profit Soars Ahead of Paris 2024 Olympics

Technogym's core profit surged by 12.4% in the first half of the year, driven by its role as the official fitness equipment supplier for the Paris 2024 Olympics. The company's adjusted earnings reached 66.7 million euros, while sales climbed by 8.7% to 402.1 million euros.

Technogym's core profit soared by 12.4% in the first half of the year, inspired by its role as the official supplier for the Paris 2024 Olympics.

The fitness equipment maker reported adjusted earnings before interest, taxes, depreciation, and amortisation after lease costs reached 66.7 million euros ($72.65 million), with sales increasing by 8.7% to 402.1 million euros.

Shares in the Milan-listed company rose by 5.5% by 1300 GMT, outshining a 2% decline in Italy's all-share index. Technogym is set to benefit further from unprecedented media exposure during the Olympics, having equipped 29 training centres for athletes including facilities in the Olympic and Paralympic Village.

(With inputs from agencies.)