Table of Contents Natuzzi S.p.A Annual Report on Form 20-F 2022 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, 2022 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, B ...

[Financial Performance Overview](index=2&type=section&id=Financial%20Performance%20Overview) This section provides an overview of the company's financial performance, strategic direction, and key results for Q4 and full year 2022 [Management Commentary](index=2&type=section&id=Management%20Commentary) Management emphasizes the 'Brand-Retailer' strategy and cost discipline, navigating a challenging market while achieving continued operating profit and accelerating retail channel growth - The company's core strategy is to transition into a '**Brand Retailer**', focusing on a dual-brand approach (Natuzzi Italia and Natuzzi Editions) and cost discipline to navigate a challenging macroeconomic environment[5](index=5&type=chunk)[6](index=6&type=chunk) - Branded business sales reached **92% of total sales**, up from 89% in the previous year. The retail value of this business was **€830 million** in 2023[7](index=7&type=chunk) - Sales from retail channels (Directly Operated Stores and Franchisees) grew to **61% of total sales**, an increase from 53% a year earlier, indicating progress in the retail-focused strategy[8](index=8&type=chunk) - The company plans significant retail expansion in 2023, with a focus on opening **6 Directly Operated Stores (DOS)** in the U.S. and approximately **100 new franchise stores** worldwide[14](index=14&type=chunk) [Fourth Quarter 2022 Highlights](index=2&type=section&id=Fourth%20Quarter%202022%20Highlights) Q4 2022 saw a slight increase in invoiced sales and improved gross margin, achieving operating profit despite a net loss driven by adverse foreign exchange and higher financing costs Q4 2022 Key Financial Metrics | Metric | Q4 2022 | Q4 2021 | Change | Note | | :--- | :--- | :--- | :--- | :--- | | Invoiced Sales | €116.5M | €115.6M | +0.7% | Increased 15.8% vs pre-pandemic Q4 2019 | | Gross Margin | 37.0% | 35.6% | +1.4 p.p. | Would be 38.8% excluding one-off restructuring costs | | Operating Profit | €1.8M | €0.6M | +200% | Would be €5.6M net of non-recurring items | | Loss After Taxes | (€5.3M) | N/A | N/A | Impacted by adverse FX (€2.4M) and financing costs (€2.7M) | [Full Year 2022 Highlights](index=2&type=section&id=Full%20Year%202022%20Highlights) Full year 2022 saw a 9.6% sales increase, significant operating profit improvement, and strong cash flow generation, resulting in a net profit despite higher financial costs Full Year 2022 Key Financial Metrics | Metric | FY 2022 | FY 2021 | Change | | :--- | :--- | :--- | :--- | | Invoiced Sales | €468.5M | €427.4M | +9.6% | | Gross Margin | 35.1% | 36.0% | -0.9 p.p. | | Operating Profit | €8.4M | €4.9M | +71.4% | | Net Profit | €1.3M | €4.4M | -70.5% | | Net Cash from Operating Activities | €18.7M | €0.5M | +3640% | | Cash at Year-End | €54.5M | €53.5M | +1.9% | [Fourth Quarter 2022 Financial Results](index=6&type=section&id=Fourth%20Quarter%202022%20Financial%20Results) This section details the consolidated revenue, gross margin, operating expenses, and net finance costs for the fourth quarter of 2022 [Consolidated Revenue](index=6&type=section&id=4Q%202022%20CONSOLIDATED%20REVENUE) Q4 2022 consolidated revenue increased slightly to €116.5 million, driven by branded product growth in Europe and Emerging Markets, despite a decline in Greater China due to COVID-19 - Total consolidated revenue for Q4 2022 was **€116.5 million**, a **0.7% increase** from Q4 2021 and a **15.8% increase** from the pre-pandemic Q4 2019[19](index=19&type=chunk) [Branded vs. Unbranded Business](index=6&type=section&id=Branded%20vs.%20Unbranded%20Business) Branded invoiced sales grew 5.0% to €103.9 million, driven by Natuzzi Italia, while Natuzzi Editions declined due to de-stocking and unbranded business significantly decreased as per strategic focus Q4 2022 Branded Sales Performance (€ millions) | Brand | Q4 2022 Sales | YoY Change | vs. Q4 2019 Change | | :--- | :--- | :--- | :--- | | Natuzzi Italia | €51.7 | +20.7% | +38.1% | | Natuzzi Editions | €52.1 | -7.0% | +19.2% | | **Total Branded** | **€103.9** | **+5.0%** | **+28.0%** | - Unbranded business sales decreased by **25.6%** to **€9.5 million** compared to Q4 2021, as the company focuses on selected large accounts with a more efficient go-to-market model[22](index=22&type=chunk) [Key Markets](index=7&type=section&id=Key%20Markets) Geographic sales varied, with strong growth in Europe and Emerging Markets, modest growth in North America, and a significant decline in Greater China due to COVID-19 disruptions Q4 2022 Invoiced Sales by Geographic Area (€ millions) | Region | Q4 2022 | Q4 2021 | YoY Change (%) | | :--- | :--- | :--- | :--- | | North America | 30.6 | 30.0 | +2.0% | | Greater China | 10.5 | 15.6 | -33.0% | | West & South Europe | 41.1 | 38.5 | +6.8% | | Emerging Markets | 16.6 | 14.0 | +18.6% | | Rest of the World | 14.6 | 13.5 | +7.6% | | **Total** | **113.4** | **111.7** | **+1.5%** | - The significant sales drop in Greater China was attributed to the high level of COVID contagions in the region, which severely impacted consumer traffic in stores[26](index=26&type=chunk) [Distribution Channels](index=8&type=section&id=Distribution%20Channels) The retail network's share of sales increased to 60.7%, driven by growth in DOS and franchise stores, while the wholesale channel declined due to de-stocking, reflecting the shift to a retail model - The retail network's share of invoiced sales increased to **60.7%** in Q4 2022 from 53.0% in Q4 2021, reflecting the success of the Brand Retailer strategy[31](index=31&type=chunk) - Sales from Directly Operated Stores (DOS) and Concessions rose **23.7%** to **€22.2 million**, while franchise store sales increased **12.8%** to **€46.6 million**[30](index=30&type=chunk) - Wholesale channel sales fell by **15.0%** to **€44.6 million**, primarily due to large distributors in North America reducing their stock levels[32](index=32&type=chunk) [Gross Margin](index=9&type=section&id=4Q%202022%20GROSS%20MARGIN) Q4 2022 gross margin improved to 37.0% due to favorable sales mix and price adjustments, despite persistent high costs for energy-intensive raw materials - Gross margin increased to **37.0%** in Q4 2022, up from 35.6% in Q4 2021[33](index=33&type=chunk) - Excluding **€2.1 million** in non-recurring labor restructuring costs, the gross margin would have been **38.8%**[34](index=34&type=chunk) - The cost of some raw materials, particularly energy-intensive ones like iron, wood, and polyurethane, remains high, while leather costs show a downward trend[35](index=35&type=chunk) [Operating Expenses](index=10&type=section&id=4Q%202022%20OPERATING%20EXPENSES) Q4 2022 operating expenses were €41.3 million (35.5% of revenue), including €1.7 million in non-recurring accruals, while transportation costs improved - Operating expenses were **€41.3 million** (**35.5% of revenue**), compared to €40.6 million (35.2% of revenue) in Q4 2021[37](index=37&type=chunk) - The quarter included **€1.7 million** in non-recurring accruals, including **€1.0 million** for a legal dispute in Brazil and costs related to an employee incentive plan and a stock option plan[38](index=38&type=chunk)[39](index=39&type=chunk) - Transportation costs as a percentage of revenue decreased to **12.5%** from 13.6% in Q4 2021[38](index=38&type=chunk) [Net Finance Income/(Costs)](index=11&type=section&id=4Q%202022%20NET%20FINANCE%20INCOME%2F(COSTS)) Q4 2022 saw net finance costs of €4.8 million, a significant shift from income, driven by rising interest rates and a €2.4 million net exchange rate loss due to Euro strengthening - Reported net finance costs of **€4.8 million**, compared to net finance income of €1.7 million in Q4 2021[40](index=40&type=chunk) - Finance costs increased to **€2.7 million** from €1.5 million in Q4 2021 due to rising interest rates[40](index=40&type=chunk) - A net exchange rate loss of **€2.4 million** was recorded, compared to a gain of €2.8 million in Q4 2021, due to the strengthening of the Euro[41](index=41&type=chunk) [Full Year 2022 Financial Results](index=11&type=section&id=Full%20Year%202022%20Financial%20Results) This section provides a summary of the company's key financial results for the full year 2022, including revenue, gross margin, operating profit, and net profit [Key Results Summary](index=11&type=section&id=KEY%20RESULTS%20SUMMARY%3A%20FULL%20YEAR%202022) Full year 2022 saw total revenue increase by 9.6% to €468.5 million, with operating profit significantly improving to €8.4 million, resulting in a net profit despite higher finance costs Full Year 2022 Performance Summary | Metric | FY 2022 | FY 2021 | Note | | :--- | :--- | :--- | :--- | | Total Revenue | €468.5M | €427.4M | +9.6% | | Gross Margin | 35.1% | 36.0% | Affected by high input costs | | Operating Profit | €8.4M | €4.9M | Includes €2.3M of non-recurring accruals | | Net Finance Costs | (€5.2M) | €0.3M (Income) | Driven by rising interest rates | | Profit After Tax | €1.3M | €4.4M | 2021 included a €5.0M one-off gain | [Financial Position and Cash Flow](index=12&type=section&id=Financial%20Position%20and%20Cash%20Flow) This section details the company's balance sheet and cash flow performance, highlighting improvements in cash generation and net financial position [Balance Sheet and Cash Flow](index=12&type=section&id=BALANCE%20SHEET%20AND%20CASH%20FLOW) The company significantly improved cash generation, with net cash from operating activities reaching €18.7 million, ending 2022 with €54.5 million in cash and an improved net financial position - Net cash provided by operating activities was **€18.7 million** in 2022, a substantial increase from €0.5 million in 2021[43](index=43&type=chunk) - Cash and cash equivalents stood at **€54.5 million** as of December 31, 2022[46](index=46&type=chunk) - The net financial position before lease liabilities improved to **€7.9 million** at the end of 2022, compared to (€0.1) million at the end of 2021[46](index=46&type=chunk) [Consolidated Financial Statements (Unaudited)](index=14&type=section&id=Consolidated%20Financial%20Statements%20(Unaudited)) This section presents the unaudited consolidated financial statements, including the statement of profit or loss, financial position, and cash flows for the periods presented [Statement of Profit or Loss (Q4 2022 vs Q4 2021)](index=14&type=section&id=Statement%20of%20Profit%20or%20Loss%20(Q4%202022%20vs%20Q4%202021)) The unaudited Q4 2022 consolidated profit or loss statement shows a slight revenue increase to €116.5 million, an operating profit of €1.8 million, and a net loss of €5.3 million Q4 2022 vs Q4 2021 Profit & Loss (€ millions) | | Fourth quarter ended on | Change | | :--- | :--- | :--- | | | 31-Dec-22 | 31-Dec-21 | % | | Revenue | 116.5 | 115.6 | 0.7% | | Gross profit | 43.1 | 41.2 | 4.6% | | Operating profit/(loss) | 1.8 | 0.6 | 200.0% | | Profit/(Loss) before tax | (4.6) | 3.1 | -248.4% | | Profit/(Loss) for the period | (5.3) | 1.9 | -378.9% | [Statement of Profit or Loss (FY 2022 vs FY 2021)](index=15&type=section&id=Statement%20of%20Profit%20or%20Loss%20(FY%202022%20vs%20FY%202021)) The unaudited FY 2022 consolidated profit or loss statement details revenue of €468.5 million, an operating profit of €8.4 million, and a net profit of €1.3 million FY 2022 vs FY 2021 Profit & Loss (€ millions) | | Twelve months ended on | Change | | :--- | :--- | :--- | | | 31-Dec-22 | 31-Dec-21 | % | | Revenue | 468.5 | 427.4 | 9.6% | | Gross profit | 164.3 | 153.8 | 6.8% | | Operating profit/(loss) | 8.4 | 4.9 | 71.4% | | Profit/(Loss) before tax | 3.6 | 8.8 | -59.1% | | Profit/(Loss) for the period | 1.3 | 4.4 | -70.5% | [Statement of Financial Position](index=16&type=section&id=Statement%20of%20Financial%20Position) The unaudited consolidated statement of financial position as of December 31, 2022, shows total assets of €368.6 million and total equity of €92.6 million Condensed Balance Sheet (€ millions) | | 31-Dec-22 | 31-Dec-21 | | :--- | :--- | :--- | | **ASSETS** | | | | Non-current assets | 177.6 | 189.6 | | Current assets | 191.0 | 200.4 | | **TOTAL ASSETS** | **368.6** | **390.0** | | **EQUITY AND LIABILITIES** | | | | Total Equity | 92.6 | 83.8 | | Non-current liabilities | 95.3 | 107.5 | | Current liabilities | 180.8 | 198.7 | | **TOTAL EQUITY AND LIABILITIES** | **368.6** | **390.0** | [Statement of Cash Flows](index=16&type=section&id=Statement%20of%20Cash%20Flows) The unaudited consolidated cash flow statement for FY 2022 highlights net cash provided by operating activities of €18.7 million, with cash used in investing and financing activities Condensed Cash Flow Statement (€ millions) | | 31-Dec-22 | 31-Dec-21 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | 18.7 | 0.5 | | Net cash provided by (used in) investing activities | (4.7) | 7.0 | | Net cash provided by (used in) financing activities | (13.5) | (2.0) | | Increase (decrease) in cash and cash equivalents | 0.5 | 5.5 | | Cash and cash equivalents, end of the period | 52.7 | 52.2 |

Financial Data and Key Metrics Changes - The company reported revenue of EUR 160 million for Q3 2022, an increase of almost 50% compared to 2021, which was already a strong year with a 30% increase versus 2020 and a 32% increase versus 2019 [9] - The profit for Q3 2022 was EUR 4.1 million, compared to a loss of EUR 0.4 million in Q3 2021 and a loss of EUR 8.7 million in Q3 2019, indicating significant improvement [12] - The profit per American Depositary Receipt (ADR) was EUR 0.50, compared to a loss of EUR 0.35 in 2021 and EUR 1.05 in 2019 [14] - The company closed the quarter with a margin of 37.7%, up from 36.6% in 2021 and 28.7% in 2019, reflecting improved profitability despite rising costs [11] Business Line Data and Key Metrics Changes - Revenue from the branded business (Natuzzi Italia and Natuzzi Edition) was EUR 103 million, representing a 22.5% increase versus 2021 and a 57.6% increase versus 2019, indicating faster growth than overall revenue [10] Market Data and Key Metrics Changes - The company noted a slowdown in new orders since April, with both retail and client business experiencing lower-than-expected order volumes, a trend observed across the industry [16][18] Company Strategy and Development Direction - The company is focused on enhancing marginality and extracting more value for investors, with a commitment to a five-year growth plan despite challenging market conditions [11][18] - Management is implementing cost reduction measures, including a review of organizational structure and streamlining operations to improve efficiency and reduce G&A costs [47][50] Management Comments on Operating Environment and Future Outlook - Management acknowledged the ongoing headwinds affecting the business and emphasized the importance of maintaining operational efficiency and cash management during this period [16][49] - The company remains committed to its long-term strategy of becoming a leading high-end European brand globally, despite current challenges [50] Other Important Information - The company reported an additional EUR 2.8 million in energy costs due to spikes in energy prices, while transportation costs are normalizing but have not yet returned to pre-2019 levels [19][20] Q&A Session Summary Question: Can you speak specifically to what's going on in terms of lowering the cost of G&A? - Management is applying a methodology developed with McKinsey to tightly manage costs across all categories, including G&A, with a potential impact of EUR 3 million to EUR 4 million for the quarter [26][31] Question: What was the dollar amount of the impairment of a trade receivable? - The impairment of trade receivables for the third quarter was EUR 0.1 million [35] Question: How did North American direct-owned stores perform like-for-like? - Year-to-date, North American direct-owned stores are trending down 8% compared to 2021 but up 50% compared to 2019 [36] Question: Can you provide an update on the Factory 4.0 rollout? - The plan is to roll out Factory 4.0 in most Italian factories by next year, with potential relocations in China and expansions to Romania and Brazil [41][42]

Natuzzi S.p.A. (NYSE:NTZ) Q2 2022 Earnings Conference Call October 3, 2022 10:00 AM ET Company Participants Piero Direnzo - Investor Relations Antonio Achille - Chief Executive Officer Jason Camp - President Pasquale Natuzzi - Chairman Conference Call Participants David Kanen - Kanen Wealth Management George Melas-Kyriazi - MKH Management Operator Good day ladies and gentlemen. Thank you for standing by. Welcome to the Natuzzi Second Quarter 2022 Financial Results Conference Call. As a reminder, interested ...

[Executive Summary and Business Overview](index=2&type=section&id=Executive%20Summary%20and%20Business%20Overview) This section provides an overview of management's commentary and key financial highlights for Q2 2022 [Management Commentary](index=2&type=section&id=Management%20Commentary) Management reported H1 2022 sales growth despite headwinds, accelerating transformation and strengthening branded business - The Shanghai factory closure due to COVID-19 lockdowns resulted in an estimated **€15 million loss in production** for the quarter[5](index=5&type=chunk) - Since April, the company has experienced a slowdown in orders, primarily from the Wholesale channel, as retail partners focus on de-stocking amid softer consumer demand[7](index=7&type=chunk)[8](index=8&type=chunk) - The order backlog was intentionally reduced from **€114.4 million to €102.0 million** to improve delivery times and service levels[9](index=9&type=chunk) - The company's branded business (Natuzzi Italia and Natuzzi Editions) has grown to represent **90% of total business**, up from 84% a year ago[10](index=10&type=chunk) - The company is strengthening its management team by hiring experienced professionals for key roles, including a new global Chief Operations Officer and a South-West Europe & Emerging Market Director[15](index=15&type=chunk)[16](index=16&type=chunk) [Second Quarter 2022 Highlights](index=2&type=section&id=Second%20Quarter%202022%20Highlights) Q2 2022 saw 7.8% sales growth despite factory closure, with gross margin decline and positive operating profit Q2 2022 Financial Highlights | Metric | Q2 2022 | Q2 2021 | Change vs 2021 | Change vs 2019 | | :--- | :--- | :--- | :--- | :--- | | Invoiced Sales | - | - | +7.8% | +26.8% | | Gross Margin | 31.4% | 36.1% | -4.7 p.p. | +3.5 p.p. | | Operating Profit | €1.1 million | €1.5 million | -€0.4 million | +€8.9 million | | Cash | €59.8 million | - | +€6.3 million (vs Dec 2021) | +€20.0 million (vs Dec 2019) | [Q2 2022 Financial Performance](index=4&type=section&id=Q2%202022%20Financial%20Performance) Q2 2022 financial performance was marked by revenue growth, gross margin decline, and improved operating expense efficiency [Consolidated Revenue](index=4&type=section&id=2Q%202022%20Consolidated%20Revenue) Q2 2022 consolidated revenue grew 7.8% to €116.9 million, driven by branded business and retail channel expansion Q2 2022 Revenue Performance | Metric | Q2 2022 | Q2 2021 | Change | | :--- | :--- | :--- | :--- | | Consolidated Revenue | €116.9 M | €108.4 M | +7.8% | | Upholstered & Home Furnishings Sales | €112.0 M | €105.5 M | +6.2% | [Revenue by Business Segment](index=4&type=section&id=A.%20Branded%2FUnbranded%20business) Branded business sales increased 8.1% to **€98.7 million**, led by Natuzzi Italia, while other segments declined Q2 2022 Invoiced Sales by Brand (€ Million) | Brand Segment | Q2 2022 Sales | YoY Change | | :--- | :--- | :--- | | **Total Branded** | **€98.7 M** | **+8.1%** | | Natuzzi Italia | €53.6 M | +34.2% | | Natuzzi Editions | €45.1 M | -12.2% | | **Unbranded** | **€13.3 M** | **-5.9%** | [Revenue by Key Markets](index=5&type=section&id=B.%20Key%20Markets) Sales growth was strong in West & South Europe and Greater China, while North America and Emerging Markets saw declines Q2 2022 Invoiced Sales by Geography (€ Million) | Region | Q2 2022 | Q2 2021 | YoY Change | | :--- | :--- | :--- | :--- | | North America | 31.3 | 35.2 | -11.0% | | Greater China | 13.3 | 10.7 | +24.1% | | West & South Europe | 40.6 | 31.8 | +27.4% | | Emerging Markets | 13.1 | 14.1 | -7.3% | | Rest of the World | 13.7 | 13.6 | +1.0% | | **Total** | **112.0** | **105.5** | **+6.2%** | [Revenue by Distribution Channel](index=5&type=section&id=C.%20Distribution) Retail network contribution increased to **61.2%**, driven by strong growth in franchise and direct retail sales - The retail network (Directly Operated Stores and Franchise Operated Stores) contribution to total business increased to **61.2%** in Q2 2022 from 50.1% in Q2 2021[28](index=28&type=chunk) - In the first half of 2022, the company added **49 new franchise stores**, with 38 located in China[29](index=29&type=chunk) Q2 2022 Sales by Channel vs Q2 2021 | Channel | Q2 2022 Sales | YoY Change | | :--- | :--- | :--- | | Direct Retail (DOS) | €22.0 M | +14.1% | | Franchise Stores (FOS) | €46.6 M | +38.8% | | Wholesale | €43.4 M | -17.5% | [Gross Margin](index=7&type=section&id=2Q%202022%20Gross%20margin) Gross margin declined to **31.4%** in Q2 2022 due to rising costs and inefficient fixed cost absorption - Gross margin decreased to **31.4%** in Q2 2022 from 36.1% in Q2 2021[33](index=33&type=chunk) - The margin decline was caused by rising raw material and energy costs, alongside inefficient fixed cost leverage in the Shanghai plant due to the lockdown[33](index=33&type=chunk) - There is a time lag between incurring higher input costs and realizing price increases on delivered sales, which has negatively affected margins during this period of high inflation[34](index=34&type=chunk) [Operating Expenses](index=7&type=section&id=2Q%202022%20Operating%20expenses) Operating expenses decreased to **30.5%** of revenue in Q2 2022, driven by lower transportation costs Operating Expenses Comparison | Metric | Q2 2022 | Q2 2021 | | :--- | :--- | :--- | | Operating Expenses | €35.6 M | €37.7 M | | OpEx as % of Revenue | 30.5% | 34.8% | - Transportation costs decreased to **11.1% of revenue** from 12.9% in Q2 2021, partly due to a different geographic mix of deliveries[36](index=36&type=chunk) - Q2 2021 operating results included approximately **€1.4 million** in benefits from COVID-19 government support programs, which were not available in Q2 2022[37](index=37&type=chunk)[38](index=38&type=chunk) [First Half 2022 Performance Summary](index=8&type=section&id=KEY%20RESULTS%20SUMMARY%3A%20FIRST%20SIX%20MONTHS%20OF%202022) H1 2022 revenue grew **12.1%** to **€235.4 million**, with gross margin compression and lower profitability H1 2022 vs H1 2021 Key Financials | Metric | H1 2022 | H1 2021 | | :--- | :--- | :--- | | Total Revenue | €235.4 M | €209.9 M | | Gross Margin | 32.8% | 36.2% | | Operating Profit | €2.5 M | €4.8 M | | Profit After Tax | €0.7 M | €5.9 M | - The H1 2021 operating profit included **€4.2 million** from temporary public support measures related to labor costs, which were not renewed in 2022[41](index=41&type=chunk) - The H1 2021 profit after tax included a one-off gain of **€4.8 million** from the disposal of a subsidiary[42](index=42&type=chunk) [Balance Sheet and Cash Flow](index=8&type=section&id=Balance%20sheet%20and%20cash%20flow) The company generated **€10.2 million** in operating cash flow, increasing cash to **€59.8 million** and improving its net financial position - Net cash provided by operating activities for the first six months of 2022 was **€10.2 million**[43](index=43&type=chunk) - Investing activities used **(€3.6) million**, primarily for capital expenditures[45](index=45&type=chunk) - Financing activities used **(€1.9) million**, reflecting loan and lease repayments partially offset by a new government loan and a capital contribution from a partner[46](index=46&type=chunk) Cash and Financial Position (€ Million) | Metric | June 30, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | Cash and Cash Equivalents | 59.8 | 53.5 | | Net Financial Position (before lease liabilities) | 7.6 | (0.1) | [Consolidated Financial Statements](index=9&type=section&id=Consolidated%20Financial%20Statements) This section provides the unaudited consolidated statements of profit or loss, financial position, and cash flows for the period [Statement of Profit or Loss (Q2 2022)](index=9&type=section&id=Unaudited%20consolidated%20statement%20of%20profit%20or%20loss%20for%20the%20second%20quarter) Q2 2022 revenue was **€116.9 million**, resulting in an operating profit of **€1.1 million** and a net loss of **€0.6 million** Q2 2022 Profit & Loss Summary (€ Million) | Item | Q2 2022 | Q2 2021 | | :--- | :--- | :--- | | Revenue | 116.9 | 108.4 | | Gross profit | 36.7 | 39.2 | | Operating profit/(loss) | 1.1 | 1.5 | | Profit/(Loss) for the period | (0.6) | (0.1) | | Profit/(Loss) attributable to Owners | (1.0) | 0.2 | [Statement of Profit or Loss (H1 2022)](index=9&type=section&id=Unaudited%20consolidated%20statement%20of%20profit%20or%20loss%20for%20the%20six%20months) H1 2022 revenue reached **€235.4 million**, yielding an operating profit of **€2.5 million** and a net profit of **€0.7 million** H1 2022 Profit & Loss Summary (€ Million) | Item | H1 2022 | H1 2021 | | :--- | :--- | :--- | | Revenue | 235.4 | 209.9 | | Gross profit | 77.3 | 76.0 | | Operating profit/(loss) | 2.5 | 4.8 | | Profit/(Loss) for the period | 0.7 | 5.9 | | Profit/(Loss) attributable to Owners | (0.0) | 5.8 | [Statement of Financial Position](index=11&type=section&id=Unaudited%20consolidated%20statements%20of%20financial%20position) As of June 30, 2022, total assets and total equity and liabilities both stood at **€390.0 million** Condensed Balance Sheet (€ Million) | Item | 30-Jun-22 | 31-Dec-21 | | :--- | :--- | :--- | | Total Assets | 390.0 | 398.1 | | Total Equity and Liabilities | 390.0 | 398.1 | | Equity attributable to Owners | 82.3 | 90.4 | [Statement of Cash Flows](index=11&type=section&id=Unaudited%20consolidated%20statements%20of%20cash%20flows) H1 2022 operating activities generated **€10.2 million** in cash, leading to a **€4.7 million** net increase in cash and equivalents Condensed Cash Flow Statement - H1 2022 (€ Million) | Item | H1 2022 | | :--- | :--- | | Net cash from operating activities | 10.2 | | Net cash from investing activities | (3.6) | | Net cash from financing activities | (1.9) | | Increase in cash and cash equivalents | 4.7 | [Other Information](index=12&type=section&id=Other%20Information) This section provides cautionary statements regarding forward-looking information and an overview of Natuzzi S.p.A [Cautionary Statement Concerning Forward-Looking Statements](index=12&type=section&id=CAUTIONARY%20STATEMENT%20CONCERNING%20FORWARD-LOOKING%20STATEMENTS) This statement warns that forward-looking information is subject to risks like supply chain, raw material costs, and geopolitical events - The company identifies several forward-looking risks, including supply-chain issues, raw material costs, COVID-19 impacts on the economy and demand, and geopolitical tensions from the war in Ukraine[55](index=55&type=chunk) [About Natuzzi S.p.A.](index=12&type=section&id=About%20Natuzzi%20S.p.A.) Natuzzi S.p.A., founded in 1959, is a luxury furniture brand with a global retail network, listed on NYSE since 1993 - As of June 30, 2022, Natuzzi's global retail network consists of **700 mono-brand stores** and **566 galleries**[56](index=56&type=chunk) - The company has been listed on the New York Stock Exchange (NYSE) since May 13, 1993[56](index=56&type=chunk)

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 MAY 2022 Commission File Number 1-11854 NATUZZI S.p.A. (Translation of registrant's name into English) If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): Natuzzi Filed Its Annual Report on Form 20-F With the SEC SANTERAMO IN COLLE, Bari, Italy--(BUSINESS WIRE)--May 2, ...

Table of Contents Natuzzi S.p.A Annual Report on Form 20-F 2021 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, 2021 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, B ...

Natuzzi S.p.A. (NYSE:NTZ) Q4 2021 Earnings Conference Call April 11, 2022 10:00 AM ET Company Participants Piero Direnzo - Investor Relations Antonio Achille - Chief Executive Officer Pasquale Natuzzi - Chairman Jason Camp - President of Natuzzi Americas Conference Call Participants David Kanen - Kanen Wealth Management George Melas-Kyriazi - MKH Management Robert Marcin - Penn Capital Operator Good day, ladies and gentlemen, and thank you for standing by. Welcome to the Natuzzi Fourth Quarter and Full Year ...

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 NOVEMBER 2021 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-F ☐ Indicat ...

Table of Contents Natuzzi S.p.A Annual Report on Form 20-F 2020 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, 2020 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, B ...