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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.
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Natuzzi reported its unaudited financials for Q4 and FY 2022. Invoiced sales for Q4 2022 reached €116.5 million, rising 0.7% YoY and 15.8% compared to Q4 2019. Gross margin improved to 37.0%, up from 35.6% in 2021, while operating profit was €1.8 million, significantly better than €0.6 million in Q4 2021. However, a loss of €5.3 million after taxes was reported, impacted by adverse FX and increased financing costs. For FY 2022, total revenues hit €468.5 million, an increase of 9.6% YoY. The gross margin was 35.1%, down from 36.0% in 2021, and net profit was €1.3 million, down from €4.4 million in 2021, which included a one-time gain. The company noted challenges due to high-interest rates and a fluctuating market, but remains committed to long-term growth strategies.
Natuzzi S.p.A. (NYSE: NTZ) will release its unaudited 2022 fourth quarter and full year financial results on April 13, 2023, following market closure. A conference call is scheduled for April 14, 2023, at 10:00 a.m. U.S. Eastern Time to discuss these results. Participants can join via phone or video. A replay will be available from approximately three hours after the call until May 14, 2023. As of December 31, 2022, Natuzzi operates 703 mono-brand stores and 508 galleries globally, showcasing Italian design and craftsmanship. Established in 1959, Natuzzi is committed to quality and sustainability, holding several certifications including ISO 9001 and 14001.
Natuzzi S.p.A (NYSE: NTZ) has announced a postponement of its 2022 fourth quarter and full-year financial results, initially set for April 5 and 6, 2023. This delay is due to the need for additional procedures to ensure accurate financial reporting by its joint venture in China, where Natuzzi holds a 49% stake. The Company anticipates that these procedures will be completed in the first half of April 2023. An updated schedule for the earnings release and conference call will be provided once available.