The Board of Directors of Natuzzi S.p.A. (NYSE: NTZ), today approved its consolidated results for the quarter and fiscal year ended on December 31, 2011.
2011 CONSOLIDATED RESULTS
- Total Net Sales amounted to €486.4 million, down by 6.2% as compared to 2010.
- Industrial Margin at €160.3 million, (€197.1 million in 2010).
- Operating loss equal to €27.3 million, as compared to an operating income of €0.4 million in 2010.
- Net Group Loss of €19.6 million versus Net Loss of €11.0 million in 2010
FOURTH QUARTER 2011
- Total net Sales at €129.6 million, 1.8% down as compared to the fourth quarter of 2010.
- Industrial Margin amounted to €43.1 million, from €51.3 million reported in the same period of 2010.
- Operating Loss equal to €10.3 million versus an operating profit of €0.2 million reported in the last quarter of 2010.
- Net Group Loss of €15.9 million versus Net Loss of €1.4 million in 2010
- Group’s Net Financial Position positive by €55.4 million
Consolidated Net Results for Fiscal Year 2011.In 2011 Total Net Sales (including raw materials and semi-finished products sold to third parties) were €486.4 million, decreasing 6.2% as compared to 2010. Total upholstery net sales were €425.3 million, down by 7.6% with respect to full year 2010. The break-down of upholstery net sales in 2011 by geographic area was the following:
|Europa (excluding Italy)||41.0%||40.5%|
|Rest of the World||14.5%||12.6%|