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
TheStreet Open House

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

Stocks in this article: NTZ

For the three months ended December 31, 2012 the Group reported a net loss of €12.1 million.

FISCAL YEAR 2012 CONSOLIDATED FINANCIAL RESULTS

Total net sales (including raw materials and semi-finished products sold to third parties) for the whole 2012 were €468.8 million, down 3.6% over 2011.

Total upholstery net sales amounted to €409.4 million, down 3.7% from €425.3 million reported in 2011. Net sales from the Natuzzi Italia branded products totaled €139.9 million, down 22.8% from €181.4 million in 2011, with Europe (Italy included) reporting a 27.4% decrease over 2011. The medium/low-end products, under the “Other Brands” item, reported an average 10.5% increase over 2011, thanks in particular to the good performance from the Americas region (+20.9%) and the “Rest of the World” region (+10.8%), and although disappointing sales from Europe (-4.6%).

According to a geographical breakdown of sales, we highlight the overall positive result in 2012 from the “Americas” region (+18.3% over 2011), thanks to the effectiveness of the commercial actions in that region and also to the favorable foreign exchange trend over the period; in particular, it is worth being noted the performance from the USA (+14.7%), Canada (+26.5%) and Brazil (+84.2% at €6.6 million). Sales from Europe are still disappointing (-18.2% versus 2011, Italy included), being affected by the economic slowdown and decreasing consumption. Sales from the “Rest of the World” region were at €59.5 million, down by 3.2% over the previous year.

The Industrial Margin during 2012 as percentage of total net sales was 33.1%, substantially in line with the 33.0% reported for 2011, thanks especially to the efficiency recovery measures implemented in the manufacturing plants that have offset the negative contribution from a different sales mix.

Selling expenses as percentage of total net sales were flat (16.4% for both 2012 and 2011). In particular, transportation costs (at €47.6 million), passed form 9.5% in 2011 to 10.2% in 2012; commissions paid to third-party agents (at €9.7 million) passed from 1.9% reported for 2011 to 2.1% in 2012. Advertising costs (at €19.5 million), passed from 5.0% in 2011 to 4.2% reported for 2012.

3 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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 17,191.37 -195.84 -1.13%
S&P 500 2,002.16 -27.39 -1.35%
NASDAQ 4,637.9940 -43.5030 -0.93%

Partners Compare Online Brokers

Free Reports

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