The Board of Directors of Natuzzi S.p.A. (NYSE: NTZ; the “Company”, hereafter), today approved its consolidated results for the quarter ended March 31, 2012.
- Total Net Sales equal to € 110.4 million, as compared to € 121.0 million in first quarter 2011
- Industrial Margin at € 35.3 million, from € 42.8 million reported in the same comparable period of 2011
- Operating Loss equal to € 7.4 million versus an operating loss of € 2.5 million in the first quarter of 2011
- Net Group Loss of € 8.4 million versus a Net Group Loss of € 3.0 million in first quarter 2011
- Positive Group’s Net Financial Position at € 43.7 million as at March 31, 2012
During the first quarter of 2012, Total Net Sales (including raw materials and semi-finished products sold to third parties) decreased 8.8% to € 110.4 million.
Total upholstery net sales amounted to € 95.8 million, down by 9.1% as compared to last year first quarter.
The following table sets forth the break-down of upholstery net sales during the first three months of 2012 and 2011 according to the Group’s main geographical areas:
|Europa (excluding Italy)||38.9%||45.7%|
|Rest of the World||14.2%||14.1%|
Total upholstery net sales
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