European Growth Leaders 2026

Annual ranking data providerLSEG WorkspaceUsed with permission · acknowledgements

An independent research observatory tracking Europe’s listed growth companies.

Francesco Castellaneta, Full Professor of Strategy and Entrepreneurship, SKEMA Business School – Université Côte d’Azur (GREDEG) · Scientific Committee Diego Zunino and Jackie Krafft

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Annual rank78

Italy · Consumer Cyc.

Technogym

Provides connected fitness equipment, apps, on-demand video training and personalised exercise experiences.

+42%revenue growth
FY2022–FY2025
+81%net-income growth
FY2022–FY2025
+155%stock return
FY2022–FY2025
−18%2026 stock return
current context only

Company profile

Equipment, software and experiences built around movement

Technogym combines connected cardio and strength equipment with assessment, coaching and facility-management software. Its products appear in homes, fitness clubs, hotels, medical centres and elite-sport training facilities, so the company serves both the person exercising and the operator designing the experience. The Cesena-based group differentiates itself through biomechanics, Italian industrial design and a digital identity that follows users between machines and locations.

Products and assessment

A workout can begin with a body scan, not a treadmill

Technogym Checkup measures physical and cognitive parameters and generates a personalised programme. Biostrength then adjusts resistance and range of motion, while Technogym Run combines running, sled-style resistance and guided sessions. Pure Strength adds plate-loaded machines developed around athlete biomechanics.

Digital ecosystem

One log-in connects the user, the machine and the facility

Technogym App acts as a personal coach across equipment and off-machine exercise. Mywellness gives club operators tools for assessment, programming, engagement and customer management, while Technogym Live delivers trainer-led sessions on connected consoles. The result is a shared layer between consumer hardware and professional operations.

Real-world applications

The same platform can equip a resort, a gym and a clinic

At SIRO One Za'abeel in Dubai, Technogym equipment sits inside a hotel organised around fitness and recovery. Hospitality clients can combine room equipment, gyms and digital content; medical centres use specialised cardio, strength and assessment solutions for prevention, rehabilitation and active ageing.

Sport, design and origin

A garage-built machine grew into Olympic training centres

Nerio Alessandri built the first machine in his garage in 1983; Technogym Village now combines headquarters, research, production and a wellness centre. At Milano Cortina 2026, the brand's tenth Olympic and Paralympic supplier edition, Technogym says it equipped 22 training centres for more than 3,500 athletes across six Olympic Villages and venues. Run X qualifiers are scheduled from October 2026, with the final at Technogym Village in March 2027; Reform shows the craft and design side of the portfolio.

Current 2026 update

What is changing at Technogym in 2026?

Technogym is coordinating AI, a rare range-wide design reset and physical expansion through an investment programme of about €80m, while higher input costs test premium pricing.

Latest official evidence H1 2026 Published 5 August 2026

The change in one sentence

The wellness platform is changing software, products and physical capacity at the same time.

Google Cloud AI, Sand Stone, the Slovakia expansion, Healthness Lab and new boutiques put execution across the whole ecosystem; adoption, pricing and delivery now matter.

Four lenses on 2026

The same four-quadrant format used in the Company profile.

01 · AI ecosystem

The machine is becoming one node in an AI wellness system

The formal H1 report says Technogym announced a long-term partnership with Google Cloud to develop AI-based health and wellness solutions. The ecosystem connects equipment, apps and facility software; Checkup measures physical and cognitive parameters before generating a personalised programme.

  • Current signalLong-term Google Cloud partnership
  • Why it mattersSoftware and data can extend the relationship with users beyond the original equipment sale.
  • Formal H1 report Long-term partnership and AI ecosystem · 2026 evidence
  • Digital ecosystem Connected equipment, apps and operator software
  • Technogym Checkup Assessment and personalised programming

02 · Product and design reset

Sand Stone is a rare full-range reset, not a colour extension

Technogym says it introduced Sand Stone across its entire product range. The formal report describes a comprehensive update that normally occurs every 10 to 15 years, covering the mood board, materials, finishes and functionality for private residences, luxury hotels, premium clubs and hospitality projects.

  • Current signalEntire range · 10-15-year update cycle
  • Why it mattersA design decision is being carried across products and customer settings, testing the strength of the premium brand.
  • Formal H1 report Range-wide Sand Stone introduction and update cycle

03 · Capacity and physical footprint

Investment is moving from software into factories, research and retail

Professional-customer revenue grew 8.5% in H1 versus 3.1% for consumer sales. Against that mix, Technogym is expanding its Slovakia plant, building Healthness Lab for research and future products, and naming Miami, Amsterdam and Rome for 2026 boutiques. It expects about €80m of investment and reports a positive order-backlog trend.

  • Current signalAbout €80m · B2B +8.5% · B2C +3.1%
  • Why it mattersExecution now spans production capacity, product development and direct physical distribution.
  • Formal H1 report Slovakia, Healthness Lab, boutiques and investment programme
  • H1 2026 results B2B and B2C revenue mix

04 · What to watch

Three questions that test the 2026 changes

Future disclosures can show whether the strategy is becoming measurable.

  • AI usefulnessDoes Technogym begin reporting usage or revenue metrics for its AI-enabled services?
  • Price pass-throughDo July price changes restore the 17.4% adjusted EBITDA margin and 47% cash conversion without slowing demand?
  • Investment deliveryDo the Slovakia expansion, Healthness Lab and 2026 boutique openings progress within the approximately €80m programme?

Annual record

Ranking history

Future editions add rows; they do not rewrite the 2026 record.

EditionMeasurement periodRankRevenue growthNet-income growthStock return
2026FY2022–FY202578+42%+81%+155%