“Starting from this background and taking inspiration from our ethical and social values, we have developed a plan that we anticipate will allow us, beginning in the fourth quarter of this year, to eliminate losses from operations and, beginning in 2015, to return to profitability. After the first two years of the plan, which will be dedicated to restructuring and implementation of the strategy, the plan anticipates an increase in sales and a return to profitability.”“Based on a recovery in the competitiveness of our production process, which we hope to achieve by executing our Italian industrial plan, in accordance with the commitments made by the company, unions, government and regions in the agreement of October 10, 2013; ample room for growth within the recliner armchair market – which we have seized upon with the introduction of our innovative Re-vive performance recliner – and planned investments in marketing and communications, we believe that all the conditions for growth in sales exist and anticipate revenues by the end of the three-year period amounting to €611 million.” “The approval by the members of the Board of Directors, whom I thank for the confidence they have shown in us, gratifies the entire management team, but instills us with a great sense of responsibility. We are aware of the great challenges that await us and are highly motivated to achieve the ambitous objectives under the Plan.” NATUZZI S.P.A. Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. designs, manufactures and sells a broad collection of couches, armchairs, home furniture and home accessories. With consolidated revenues of €468.8 million in 2012, Natuzzi is Italy’s largest furniture house and the player with the greatest global reach in its sector, with seven manufacturing plants, twelve commercial offices and more than 1,200 points of sale worldwide. Ethics and social responsibility, innovation, industrial know-how and integrated management of its value chain represent the points of strength that have made the Natuzzi Group a market leader and established Natuzzi as the most recognized furniture brand in the world among consumers of luxury goods. Natuzzi S.p.A. has been listed on the New York Stock Exchange since May 1993. The Company is ISO 9001 and 14001 certified.
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTSCertain statements set forth in this press release regarding Natuzzi’s Plan constitute forward-looking statements within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve risks and uncertainties that could cause Natuzzi’s actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties associated with the Plan include, among others, the uncertainty concerning Natuzzi’s ability to achieve the objectives set forth under the Plan, the company’s ability to reorganize its manufacturing facilities and adjust the composition of its workforce, the cost of implementing the Plan and the impact that the company’s initiatives may have on its competitiveness and profitability, and the conditions in the macroeconomic environment and the accuracy of the assumptions upon which the Plan is based, among others. More information about potential factors that could affect the Company’s business and financial results is included in Natuzzi’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 20-F for the year ended December 31, 2012 and its quarterly results for the quarter ended September 30, 2013, filed on Form 6-K. Natuzzi undertakes no obligation to update any of the forward-looking statements after the date of this press release.