Natuzzi (NTZ) Q1 2025 Earnings Call July 03, 2025 10:00 AM ET Company Participants Piero Direnzo - Investor Relations & Technical Accounting Advisor ManagerAntonio Achille - CEO & Executive DirectorPasquale Natuzzi - Executive ChairmanDiego Babbo - Global Retail DirectorPasquale Junior Natuzzi - Chief Brand Officer - Natuzzi italia & Chief Creative Officer - Natuzzi groupCodrin Coroama - Chief Wholesale OfficerCarlo Silvestri - CFO Conference Call Participants None - Analyst Operator You are now rejoining t ...

Financial Data and Key Metrics Changes - The company reported a revenue of $78.1 million for the first quarter, a decrease of 7.6% compared to the previous year [8] - Gross margin fell to 34.1% from 36.9% in the previous quarter, attributed to a planned transition of production from China to Italy [8] - The operating loss for the quarter was €800,000, with net financial costs increasing to €2.9 million from €2.2 million due to currency volatility [9][10] - Cash position improved to $222.2 million, up from $20 million at the end of the previous year [9] Business Line Data and Key Metrics Changes - The company is focusing on enhancing its retail, wholesale, and contract channels, with significant investments in analytics and performance monitoring [17][20] - The new gallery format introduced last year has started to show positive impacts in the U.S. market [18] - The contract division is seen as having significant growth potential, with early signs of interest following the launch of Natuzzi Admony Residence in Dubai [19] Market Data and Key Metrics Changes - Consumer confidence in the U.S. has returned to levels seen in early 2023, while confidence in Europe has decreased by 3.1 percentage points [10] - The business environment remains challenging due to U.S. trade duties and geopolitical tensions, impacting consumer purchasing behavior [15] Company Strategy and Development Direction - The company is implementing a brand commercial strategy that integrates collection, marketing, and customer experience [15] - There is a focus on strengthening sales and engagement across all regions, particularly in North America [20] - The company is considering sustainable production locations for Natuzzi Editions for North America to protect margins [32] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging market conditions and the need for consumers to postpone durable purchases [10] - The company is determined to adjust pricing strategies to protect margins in light of new tariffs [35] - Future performance will depend on market conditions, consumer sentiment, and effective execution of strategies [23] Other Important Information - The company has completed the transition of production facilities, which is expected to yield long-term benefits [9][77] - The company has closed three non-performing stores, resulting in savings of $700,000 in selling expenses [78] Q&A Session Summary Question: Impact of production shift on gross margin - Management confirmed that the shift of production from China to Italy caused a decrease in gross margin, but they are reviewing pricing strategies to improve margins moving forward [30][35] Question: Sustainability of operating expenses - Management expressed confidence that operating expenses can be maintained at the current level, supported by ongoing cost reviews and contingency measures [37][39] Question: Early signs of improvement in retail technology - The company has implemented a new performance assessment process that is showing early signs of improvement in retail operations [44][46] Question: Potential of the commercial division - The commercial division is expected to grow, leveraging relationships with design professionals and focusing on bespoke solutions for hospitality and residential projects [59][63] Question: Update on e-commerce partnership - Discussions with a major home furnishings e-commerce company are ongoing, with optimism about concluding negotiations positively [68][69]

Table of Contents Natuzzi S.p.A. Annual Report on Form 20-F 2024 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended: December 31, 2024 Commission file number: 001-11854 NATUZZI S.p.A. (Exact name of Registrant as specified in its charter) Republic of Italy (Jurisdiction of incorporation or organization) Via Iazzitiello 47, 70029, Santeramo in Colle, Bari, Ital ...

Natuzzi (NTZ) Q4 2024 Earnings Call April 24, 2025 12:00 PM ET Company Participants Piero Direnzo - Investor Relations ManagerAntonio Achille - CEO & Executive DirectorPasquale Natuzzi - Founder & Executive ChairmanDaniele Tranchini - Chief Marketing OfficerCorey Pinkston - Managing PartnerGeorge Melas-Kyriazi - President Operator Welcome to the Natuzzi SPA Fourth Quarter and Full Year twenty twenty four Financial Results Webcast. As a reminder, if you'd like to dial into the conference via telephone, pleas ...

Natuzzi S.p.A. (NYSE:NTZ) Q3 2024 Earnings Conference Call December 13, 2024 10:00 AM ET Company Participants Piero Direnzo - Investor Relations Antonio Achille - Chief Executive Officer Diego Babbo - Chief Retail Officer Carlo Silvestri - Chief Financial Officer Pasquale Natuzzi - Founder and Executive Chairman Conference Call Participants Kirby Newburger - Benjamin F. Edwards & Company David Kanen - Kanen Wealth Management Operator Good day, ladies and gentlemen. Thank you for standing by. Welcome to the ...

Financial Data and Key Metrics Changes - The company reported a slight increase in sales compared to the same period in 2023, which is considered a sign of resilience in a soft sector where most competitors reported negative comparisons [4][5] - Gross margin increased by 1.7 percentage points to 38.1% compared to 36.4% a year ago, and an 11 percentage point increase in gross margin has been achieved since 2019 [24][25][23] Business Line Data and Key Metrics Changes - Directly operated stores in the U.S. grew by approximately 33% year-over-year, while overall sales for the brand were 3% above last year [8][5] - The company opened 47 new stores in 2024, with a focus on organic growth and potential new openings [16][9] Market Data and Key Metrics Changes - The U.S. market remains central to the company's strategy, with significant growth in directly operated stores [8][9] - The Chinese market is currently soft, but the company is preparing for a potential rebound due to government stimulus efforts [45][46] Company Strategy and Development Direction - The company is transitioning from a manufacturer to a brand retailer, focusing on improving customer experience and retail capabilities [6][7] - A new business unit has been established to manage trade and contract opportunities, emphasizing design capabilities and project management [22][18] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging operating environment, particularly in the furniture sector, but expressed optimism about future growth as market conditions stabilize [4][45] - The company is committed to using proceeds from asset sales for restructuring and retail expansion, with a structured approach to new store openings [39][65] Other Important Information - The company has reduced its workforce by approximately 20% over three years, focusing on evolving from a volume to a value company [26][27] - A strategic asset, the High Point building, was sold for $12.1 million, with plans to reinvest the proceeds into the business [34][36] Q&A Session Summary Question: Capital deployment from High Point sale - Management indicated that proceeds will be used for restructuring and retail expansion, with a structured approach to new openings [38][39] Question: Observations on the Chinese market - Management noted the softness in the Chinese market but expressed hope for improvement due to government stimulus [45][46] Question: Performance of U.S. retail stores - Management reported variability in store performance, influenced by location and team quality, with top-performing stores generating significantly higher sales [57][60] Question: Net cash from High Point sale - The sale will result in $12.1 million in net cash, which will be fully available for the company [63] Question: Future growth in U.S. openings - Management confirmed a commitment to expanding Natuzzi Italia presence in the U.S., with a cautious approach to new openings [65] Question: Sale leaseback details - The High Point sale is a dry sale, meaning no long-term lease obligations will be incurred [66] Question: Share buyback considerations - Management acknowledged the potential for a share buyback but emphasized the importance of operational investments [69]

The gross margin and the level of sales led us to an operating profit of EUR0.6 million, which compared to a loss of EUR0.9 million in 2023 and a loss of EUR3 million versus pre-COVID level 2019. When we look at the operating profit, it's more difficult to compare to the year in between because there has been a lot of one-off support measures and restructuring measure that affected those figures. Another element which is worth fleshing out is that, we continue executing our restructuring. So in the first qu ...

United States Securities and Exchange Commission Washington, D.C. 20549 Form 6-K Report of Foreign Issuer Pursuant To Rule 13a-16 Or 15d-16 Of The Securities Exchange Act of 1934 For the month of APRIL 2024 Commission File Number 1-11854 NATUZZI S.p.A. (Translation of registrant's name into English) Via Iazzitiello 47 70029 Santeramo, Italy (Address of principal office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F ⊠ Form 40- ...

Table of Contents Natuzzi S.p.A. Annual Report on Form 20-F 2023 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended: December 31, 2023 Commission file number: 001-11854 NATUZZI S.p.A. (Exact name of Registrant as specified in its charter) Republic of Italy (Jurisdiction of incorporation or organization) Via Iazzitiello 47, 70029, Santeramo in Colle, ...

Natuzzi S.p.A. (NYSE:NTZ) Q4 2023 Earnings Conference Call April 8, 2024 10:00 AM ET Company Participants Piero Direnzo - Investor Relations Antonio Achille - CEO Carlo Silvestri - CFO Mario de Gennaro - Chief HR, Organization and Legal Officer Diego Babbo - Global Retail Division Officer Pasquale Natuzzi - Founder and Executive Chairman Conference Call Participants Dave Kanen - Kanen Wealth Management Operator Good day, ladies and gentlemen. Thank you for standing by. Welcome to the Natuzzi Conference Call ...