For the Natuzzi Group, 2016 registers a plunge in sales by 6.4%. The US performs well, London less so

The Euro strong on the pound as a result of the vote for the Brexit has affected the UK market. They growth in the US, Spain and the EMEA, in general, registered mixed results, while the Asia-Pacific region recorded a barely significant 0.7%. The budget of the Natuzzi Group for the year 2016, that came with a consolidation of net sales (488.5 to 457.2 billion euro) have yielded 6.4% (4.9% at constant exchange rates), while the core business (sofas, beds and furniture) falls on an annual basis by 5.9% (458.7 to 431.7 billion euro). However, for the Apulian group, there is also good news. The efficiency in procurement and manufacturing has enabled the increase in operating margins from 31.6% to 34.3%, despite the lower production volumes. Net losses, meanwhile, stood at 6.1 million. This result is an improvement compared to 16.5 in 2015. The net financial position went from 14.5 million to 28.9. The president and founder of the group, Pasquale Natuzzi ( here pictured), said: “In 2015 we embarked on the path efficiency. In the search for growth, The Group will leverage on global sourcing and marketing platform built in 60 years.”

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