4 October 2023
Italian furniture manufacturer Natuzzi has reported its second quarter results for the 2023 financial year, when invoiced sales fell by 28.5% to €83.5 million, writes ILM.
This result was 9.4% down on the second quarter of pre-pandemic 2019 and was attributed to macroeconomic headwinds in the furnishings industry.
Total branded invoiced sales were €74.5 million, a drop of 24.5% year-on-year. Natuzzi Italia brought in €31 million, falling by 42%, while Natuzzi Editions had a decline of 3.5% in invoiced sales to €43.5 million.
Regionally, Natuzzi saw a decline of 21.1% in North America for a total of €24.7 million, while Greater China declined by 50% to €6.6 million.
West & South Europe had a drop of 34.2% to €26.7 million, while Emerging Markets saw a decline of 13.7% to €11.3 million. Finally, the Rest of the World fell by 14.2% to €11.8 million.
The net financial result for Natuzzi in the second quarter was a loss of €0.8 million, compared to a loss of €1.4 million in the same period of 2022.