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Natuzzi S.p.A. reports developments in its design and luxury furniture business, including results for upholstered and other home furnishings sold through branded and unbranded channels. The company designs, manufactures and distributes leather and fabric-upholstered furniture under brands including Natuzzi Italia, Natuzzi Editions and Divani&Divani by Natuzzi, with worldwide distribution through monobrand stores, galleries and multi-brand placements.
Recurring updates cover quarterly and annual financial information, sales by business channel, key markets and distribution format, factory and production matters, restructuring initiatives, capital-structure measures, shareholder meetings, board appointments and NYSE ADR listing compliance. Natuzzi also reports foreign-issuer disclosure events such as Form 20-F timing and related SEC notices.
Natuzzi S.p.A. (NYSE: NTZ) has announced the release date for its unaudited 2024 second quarter financial information. The company will disclose the results on Tuesday, October 22, 2024, after market close. A conference call to discuss the financial information is scheduled for Wednesday, October 23, 2024, at 11:00 a.m. U.S. Eastern time (5:00 p.m. Italy time, 4:00 p.m. UK time).
Interested parties can join the call by dialing +1-412-717-9633 with passcode 39252103#, or by clicking a provided link for video participation. A replay of the call will be available for approximately 3 hours after the conference end time, until Saturday, November 23, 2024 at 11:59 PM ET. To access the replay, dial +1-844-512-2921 (toll-free for U.S. and Canada) or +1-412-317-6671 (other countries) with access code 13749755.
Natuzzi S.p.A. (NYSE: NTZ) has reported its unaudited financial results for the first quarter of 2024. The company achieved overall invoiced sales of €84.5 million, nearly matching the previous year's performance. Sales from directly operated stores (DOS) climbed 13.6% year-over-year, with North American DOS sales increasing by 29.8%. The gross margin improved to 36.9% from 35.6% a year earlier, and the company recorded an operating profit of €0.6 million, reversing the previous year's operating loss of (€0.9) million. Net finance costs were (€2.2) million, impacted by high interest rates. The company continued its restructuring process, reducing its workforce by 94, and invested €1.6 million in capital expenditures. As of March 31, 2024, Natuzzi held €29.7 million in cash. However, the market remains challenging, affecting the full realization of retail expansion efforts. The company remains committed to adapting its cost structure and achieving its mid-term growth objectives.
Natuzzi S.p.A. (NYSE: NTZ) will release its unaudited financial results for the first quarter of 2024 on June 21, 2024, after the market closes. A conference call to discuss these results will be held on June 24, 2024, at 10:00 a.m. U.S. Eastern time. Participants can join the call by dialing +1-412-717-9633 with passcode 39252103# or by clicking a specified video link. A replay of the call will be available until July 24, 2024, by dialing +1-844-512-2921 (U.S. and Canada) or +1-412-317-6671 (international) with access code 13747318.
Natuzzi Italia has been selected as the technical partner to furnish meeting rooms for the 50th G7 Summit, which will take place in Apulia from June 13 to 15, 2024. This summit is notable for the participation of Pope Francis, emphasizing ethical and social justice issues. Natuzzi will showcase its Re-vive collection, celebrating its 10th anniversary. Pasquale Natuzzi, Executive Chairman, highlighted the company’s values of human rights, work ethics, sustainable growth, transparency, and harmony. With over 680 stores globally, Natuzzi was recently recognized as the most well-known European brand in key markets, including the US and China, according to an independent market research survey released in April 2024.
Natuzzi S.p.A. (NYSE: NTZ) held its annual general shareholders' meeting on May 30, 2024. During the meeting, shareholders approved the company's financial statements for the fiscal year ending December 31, 2023, and acknowledged the approval of the 2023 consolidated financial statements. The Board of Directors for the term 2024-2026 was re-elected, with Antonio Achille confirmed as CEO and Pasquale Natuzzi as Executive Chairman.
New external auditors PWC were appointed for 2024-2026, replacing KPMG. Additionally, the Board appointed committees for control and risk, and related party transactions. Vito Plantone was appointed as an alternate member of the Board of Statutory Auditors.
Natuzzi is celebrating its 31st anniversary on the New York Stock Exchange, having been listed since May 13, 1993.
The company has evolved from an entry-level manufacturer to a globally recognized brand in the medium to high-end segments.
A recent survey in April 2024 shows significant brand recognition in the US and China, with Natuzzi ranking 6th and 5th in unaided awareness respectively among all furniture brands.
Natuzzi is the top European brand in both markets, with awareness levels notably higher than other European competitors.
The company aims to leverage its strong brand presence, global store network, and retail capabilities for future growth.
Natuzzi S.p.A. (NYSE: NTZ) filed its annual report on Form 20-F with the SEC, showcasing its financial performance for the fiscal year ended on December 31, 2023. The report includes audited consolidated financial statements and is available on the company's website. Natuzzi, founded in 1959, is a prominent brand in luxury furniture production, known for its Italian design and craftsmanship. With a global retail network of 678 stores and 600 galleries, Natuzzi continues its commitment to social responsibility and environmental sustainability.
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