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Natuzzi S.p.A. and Subsidiaries
Unaudited consolidated statement of profit or loss for the second quarter of 2024
and 2023
on the basis of IFRS-IAS (expressed in millions Euro, except as otherwise
indicated)
Second quarter ended on Change Percentage of revenue
30-Jun-24 30-Jun-23 % 30-Jun-24 30-Jun-23
=================== =========== =========== ======== =========== ===========
Revenue 84.4 83.5 1.0% 100.0% 100.0%
Cost of Sales (52.2) (53.1) -1.7% -61.9% -63.6%
------------------- ------- ------- ---- ------ -------
Gross profit 32.1 30.4 5.7% 38.1% 36.4%
------------------- ------- ------- ---- ------ -------
Other income 1.3 2.4 1.5% 2.8%
Selling expenses (23.8) (22.8) 4.2% -28.2% -27.3%
Administrative
expenses (10.0) (9.8) 1.6% -11.8% -11.8%
Impairment on
trade
receivables (0.0) (0.0) 0.0% 0.0%
Other expenses (0.0) (0.1) 0.0% -0.1%
------------------- ------- ------- ---- ------ -------
Operating
profit/(loss) (0.4) 0.0 -0.5% 0.0%
------------------- ------- ------- ---- ------ -------
Finance income 0.2 0.2 0.2% 0.3%
Finance costs (2.4) (2.7) -2.8% -3.2%
Net exchange rate
gains/(losses) 0.2 1.6 0.2% 2.0%
------------------- ------- ------- ---- ------ -------
Net finance
income/(costs) (2.0) (0.8) -2.4% -1.0%
------------------- ------- ------- ---- ------ -------
Share of
profit/(loss) of
equity-method
investees 0.3 0.8 0.3% 1.0%
------------------- ------- ------- ---- ------ -------
Profit/(Loss)
before tax (2.2) 0.1 -2.6% 0.1%
------------------- ------- ------- ---- ------ -------
Income tax
expense/(benefit) (0.1) (0.4) -0.2% -0.5%
------------------- ------- ------- ---- ------ -------
Profit/(Loss) for
the period (2.3) (0.4) -2.7% -0.4%
------------------- ------- ------- ---- ------ -------
Profit/(Loss)
attributable to:
Owners of the
Company (2.4) (0.3)
Non-controlling
interests 0.1 (0.0)
------------------- ------- ------- ---- ------ --- -------
Natuzzi S.p.A. and Subsidiaries
Unaudited consolidated statement of profit or loss for the six months of
2024 and 2023
on the basis of IFRS-IAS (expressed in millions Euro, except as otherwise
indicated)
Six months ended on Change Percentage of revenue
30-Jun-24 30-Jun-23 % 30-Jun-24 30-Jun-23
================= ========= ========= ======== ============ ===========
Revenue 168.9 169.6 -0.4% 100.0% 100.0%
Cost of Sales (105.5) (108.6) -2.8% -62.5% -64.0%
----------------- -------- -------- ---- ------- -------
Gross profit 63.3 61.0 3.8% 37.5% 36.0%
----------------- -------- -------- ---- ------- -------
Other income 2.5 3.6 1.5% 2.1%
Selling expenses (47.0) (46.6) 0.8% -27.8% -27.5%
Administrative
expenses (18.5) (18.7) -1.2% -10.9% -11.0%
Impairment on
trade
receivables (0.0) (0.1) 0.0% 0.0%
Other expenses (0.1) (0.1) -0.1% -0.1%
----------------- -------- -------- ---- ------- -------
Operating
profit/(loss) 0.2 (0.9) 0.1% -0.5%
----------------- -------- -------- ---- ------- -------
Finance income 0.4 0.3 0.2% 0.2%
Finance costs (5.0) (4.8) -2.9% -2.8%
Net exchange
rate
gains/(losses) 0.4 0.2 0.2% 0.1%
----------------- -------- -------- ---- ------- -------
Net finance
income/(costs) (4.2) (4.2) -2.5% -2.5%
----------------- -------- -------- ---- ------- -------
Share of
profit/(loss)
of
equity-method
investees 0.1 2.0 0.1% 1.2%
----------------- -------- -------- ---- ------- -------
Profit/(Loss)
before tax (3.9) (3.1) -2.3% -1.9%
----------------- -------- -------- ---- ------- -------
Income tax
expense (0.2) (0.5) -0.1% -0.3%
----------------- -------- -------- ---- ------- -------
Profit/(Loss)
for the period (4.1) (3.7) -2.4% -2.2%
----------------- -------- -------- ---- ------- -------
Profit/(Loss)
attributable
to:
Owners of the
Company (4.1) (3.6)
Non-controlling
interests 0.0 (0.1)
----------------- -------- -------- ---- ------- --- -------
Natuzzi S.p.A. and Subsidiaries
Unaudited consolidated statements of financial position (condensed)
on the basis of IFRS-IAS
(Expressed in millions of Euro)
30-Jun-24 31-Dec-23
================================================= ========== =========
ASSETS
Non-current assets 190.2 188.6
Current assets 146.6 149.7
------------------------------------------------- ---------- ---------
TOTAL ASSETS 336.9 338.3
------------------------------------------------- ---------- ---------
EQUITY AND LIABILITIES
Equity attributable to Owners of the Company 64.5 68.9
Non-controlling interests 4.6 4.3
Non-current liabilities 111.3 110.4
Current liabilities 156.5 154.7
------------------------------------------------- ---------- ---------
TOTAL EQUITY AND LIABILITIES 336.9 338.3
------------------------------------------------- ---------- ---------
Natuzzi S.p.A. and Subsidiaries
Unaudited consolidated statements of cash flows (condensed)
(Expressed in millions of Euro) 30-Jun-24 31-Dec-23
==================================================== ========= ===========
Net cash provided by (used in) operating activities (0.5) 3.2
Net cash provided by (used in) investing activities (3.6) (7.9)
Net cash provided by (used in) financing activities (4.1) (15.7)
Increase (decrease) in cash and cash equivalents (8.2) (20.4)
Cash and cash equivalents, beginning of the year 31.6 52.7
Effect of movements in exchange rates on cash held 0.4 (0.8)
Cash and cash equivalents, end of the period 23.8 31.6
---------------------------------------------------- -------- --------
For the purpose of the statements of cash flow, cash and cash equivalents
comprise the following:
(Expressed in millions of Euro) 30-Jun-24 31-Dec-23
==================================================== ========= ===========
Cash and cash equivalents in the statement of
financial position 28.2 33.6
Bank overdrafts repayable on demand (4.5) (2.0)
---------------------------------------------------- -------- --------
Cash and cash equivalents in the statement of cash
flows 23.8 31.6
---------------------------------------------------- -------- --------
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
(MORE TO FOLLOW) Dow Jones Newswires
October 22, 2024 16:30 ET (20:30 GMT)
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