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natuzzi spa-sp adr (NTZ) Details

Natuzzi S.p.A. designs, manufactures, and markets leather and fabric upholstered furniture worldwide. Its products primarily include linear and sectional sofas, loveseats, armchairs, sectional furniture, motion furniture, sofa beds, recliners and massage chairs, and living room and bedroom furnishings and accessories. The company sells its products primarily under the Natuzzi Italia, Natuzzi Editions/Leather Editions, Natuzzi Re-vive, and Softaly brand names. Natuzzi S.p.A. sells its Natuzzi branded furniture primarily through franchised Divani & Divani by Natuzzi, and Natuzzi furniture stores. As of February 28, 2014, it had 95 Divani & Divani by Natuzzi stores, and 177 Natuzzi Italia stores, as well as 314 Natuzzi galleries. The company was founded in 1959 and is headquartered in Santeramo in Colle, Italy.

6,377 Employees
Last Reported Date: 04/30/14
Founded in 1959

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natuzzi spa-sp adr (NTZ) Key Developments

The Natuzzi Group Announces Executive Changes

The Natuzzi Group announced the appointment of two new managers, Mr. Ezio Cristetti and Mr. Claudio Ildebrando Aldrovandi, both directly reporting to the President, Pasquale Natuzzi, in accordance with the strategic guidelines included in the 2014-2016 Business plan. Ezio Cristetti has been appointed as Chief HR, IT and Organization Officer. In his new position, Ezio Cristetti is responsible for developing the Group’s international change management programs, process optimization, and the management and development of human resources within the Group. Before joining the company, Ezio Cristetti gained professional experience in the Human Resources & Organization field in companies such as Seat Pagine Gialle (from 2009), where, during the last two years, he was also responsible for Purchases, IT and Legal Affairs, in order to better manage the corporate transformation and cost-control processes. He previously worked for Kimberly-Clark (from 2004-2006) and Gruppo Heineken Italia (from 2006 to 2009). At the same time, Claudio Ildebrando Aldrovandi has been appointed as Corporate Quality & After Sales Director, and will be in charge of managing product and service quality worldwide, and facilitating process integration within the Group. Claudio Ildebrando Aldrovandi has gained B2B experience as a Quality manager in companies such as Zoppas, Tetra Pak, Lamborghini, Fagor Brandt, AVIO, ARGO and Alenia Aermacchi.

Natuzzi SpA Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

Natuzzi SpA reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported total net sales were EUR 98.4 million against EUR 110.7 million a year ago. LBITDA was EUR 5.9 million against EUR 3.0 million a year ago. LBIT was EUR 9.4 million against EUR 6.9 million a year ago. Loss before income taxes were EUR 9.2 million against EUR 5.0 million a year ago. Net group loss was EUR 9.8 million against EUR 6.0 million a year ago. Net group loss per share was EUR 0.18 against EUR 0.11 a year ago. Net cash used by operating activities was EUR 3.1 million against EUR 12.0 million a year ago. Additions of property, plant and equipment was EUR 3.5 million EUR 1.4 million a year ago. The Consolidated net sales reduction largely anticipated by the Plan is attributable principally to the following factors: The negative impact from foreign currency movements that have eroded 3.2% of total net sales when translated into Euro; The negative performance of some of the Group's dealers located in the North America region, following the adverse weather conditions that occurred on the Atlantic coast and that have affected the first few months of the year; Production delays, particularly in Italy and China. As for Italy, the company reported a low level of productivity since the company staffed Italian plants with workers on rotation, in accordance with the agreement entered into with the unions on October 10, 2013; as for China, the company experienced a higher than expected level of turnover among workers after the Chinese New Year holiday period, consequently lowering the level of productivity for the Chinese plant. The consolidated EBIT was negative expected by the Plan for the period, and was the result of the following: A EUR 2.6 million loss related to the operating performance of the Group's directly operated stores (DOS). This result was foreseen by the Plan and turned out to be better than first quarter last year by EUR0.9 million. The reverse in trend was due both to a significant increase in sales and also due to the closure of eight non-performing stores, as envisaged by the Plan; A EUR 1.4 million loss related to operations in Brazil, this too was envisaged by the Plan, and improved by EUR 0.3 million if compared to the same quarter in 2013; The remaining operating loss pertains the Group's industrial operations and the overhead cost structure.

Natuzzi Group Announces New Store Opening in New York

The Natuzzi Group announced that a new Natuzzi Italia store was opened in New York city. With such opening, the company intends to strengthen its international 'Natuzzi Italia' retail network through a new 400 square-meters store located in New York, at 105 Madison Avenue, nowadays a real hub for professional designers and lovers of Made-in-Italy and high-quality furniture.


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