This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Natuzzi S.p.A. Announces Its First Six Months And Second Quarter 2011 Financial Results

Stocks in this article: NTZ

The Board of Directors of Natuzzi S.p.A. (NYSE:NTZ), Italy’s largest furniture manufacturer and world’s leading manufacturer of leather-upholstered furniture, today approved its financial results for the second quarter and first six months of 2011.

1H 2011 financial results

  • Net Group Profit of € 6.6 million vs. a Net Group Loss of € 4.1 million in 1H 2010
  • Negative EBIT of € 8.1 million, vs. a positive EBIT of € 2.7 million in 1H 2010
  • Industrial Margin was € 83.3 million as compared to € 103.3 million in 1H 2010
  • Total Net Sales were € 242.4 million, down 10.8% as compared to 1H 2010

2Q 2011 financial results

  • Net Group Profit of € 9.6 million vs. a Net Group Loss of € 2.8 million in 2Q 2010
  • Negative EBIT of € 5.5 million, vs. a positive EBIT of € 2.3 million in 2Q 2010
  • Industrial Margin was € 40.6 million as compared to € 54.6 million in 2Q 2010
  • Total Net Sales were € 121.4 million, down 16.4% as compared to 2Q 2010
  • Positive Net Financial Position of €61.6 with a considerable improvement as compared to December 31, 2010.

1H 2011 financial results

Total Net Sales (including raw materials and semi-finished products sold to third parties) were € 242.4 million, decreasing by 10.8% with respect to 2010.Total upholstery sales totalled € 211.0 million with a decline of 12.9% over the same period in 2010.In particular, the Natuzzi brand was down 4.2%, while the “all brands” marked a decrease of 19.4%. Within the Natuzzi brand, the decline is mainly concentrated in Europe, while there is positive performance in the Americas and Rest of World.Sales of “all brands” (-19.4%) affected in particular by the sharp decline in North America, whose results were negatively impacted by the relocation of existing production sites in China to a new plant that generated delays in production today returned to normal.Other sales have registered a total increase of 6.4% thanks to strong sales of accessories.

Industrial margin, 34.4% of sales compared to 38.0% in the first six months of 2010, mainly reflects the increase in prices of raw materials and labour costs (in particular China and Romania).

1 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs