The Board of Directors of Natuzzi S.p.A. (NYSE: NTZ) (“Natuzzi” or “the Company”), a leading company in the furnishings industry, today approved its financial results for the second quarter and the first semester of 2012.
SECOND QUARTER 2012 HIGHLIGHTS
- Total Net Sales at €120.3 million, from €121.4 million reported for the quarter ended on June 30, 2011;
- Industrial Margin at 33.5% on total net sales, slightly better than 33.4% reported in last year’s comparable period;
- Negative EBIT of €0.6 million, improving from a negative EBIT of €5.5 million reported for the second quarter of 2011.
FIRST HALF 2012 HIGHLIGHTS
- Total Net Sales at €230.7 million, from €242.2 million reported for the first six months of last year;
- Negative EBIT of €8.0 million, as compared to a negative EBIT of €8.1 million reported for the first semester of last year;
Positive Net Financial Position at €44,1 million as of June 30, 2012, as compared to €55.3 million as of December 31, 2011.SECOND QUARTER 2012 FINANCIAL RESULTS During the quarter ended June 30, 2012, Total Net sales (including raw materials and semi-finished products sold to third parties) amounted to €120.3 million, down by 0.9% from €121.4 reported in second quarter 2011. Total upholstery net sales were €105.6 million, flat over the prior year comparable period, but increasing by €9.8 million over first quarter 2012. Other sales during the second quarter 2012 were €14.7 million. The breakdown by geographic allocation of total upholstery net sales was the following:
|2 quarter 2012||2 quarter 2011|
|Europe (ex Italy)||34.0%||40.1%|
|Rest of the World||14.0%||14.5%|