This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Natuzzi S.p.A. Fourth Quarter And Fiscal Year 2012 Financial Results

Stocks in this article: NTZ

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 consolidated financial results for the fourth quarter and fiscal year of 2012.

FOURTH QUARTER 2012 HIGHLIGHTS

  • Total Net Sales at €126.5 million, down 2.4% from €129.6 million reported for the fourth quarter 2011;
  • Industrial Margin at 31.6% on total net sales, down from 33.3% reported in last year’s comparable period;
  • Negative EBIT of €7.0 million, improving from a negative EBIT of €10.3 million reported for the fourth quarter of 2011.

FISCAL YEAR 2012 HIGHLIGHTS

  • Total Net Sales at €468.8 million, 3.6% down from €486.4 million reported for 2011;
  • Industrial Margin at 33.1% on total net sales, substantially in line as compared to the prior year;
  • Negative EBIT of €17.3 million, improving with respect to a negative EBIT of €27.3 million reported for the full 2011;
  • Positive Net Financial Position at €40.0 million as of December 31, 2012, as compared to €55.3 million as of December 31, 2011.

FOURTH QUARTER 2012 FINANCIAL RESULTS

During the quarter ended December 31, 2012, total net sales (including raw materials and semi-finished products sold to third parties) amounted to €126.5 million, down 2.4% from €129.6 million reported in fourth quarter 2011.

Total upholstery net sales during the last quarter of 2012 were €110.5 million, decreasing 3.5% from €114.6 million reported in prior year comparable period. The sales decrease in the quarter is mainly due to the performance of the high-end Natuzzi Italia branded products, whose sales decreased by 22.0% compared to 2011 fourth quarter. Sales of “Other Brands” increased by 9.6% with respect to one year ago.

The breakdown by geographic allocation of total upholstery net sales was the following:

            4 quarter 2012       4 quarter 2011    
Americas 40.6% 33.4%
Europe (ex Italy) 36.6% 43.1%
Italy 8.9% 10.0%
Rest of the World 13.9% 13.5%
 

The above table confirms the decreasing trend of sales from Europe (Italy included), as consequence of the extreme weakness of consumption, further burdened by fiscal consolidation measures still in place in some Euro-area Countries that affect the purchasing power of families. The Americas region is confirmed as the main area in terms of Group’s sales.

1 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
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!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • 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