Natuzzi S.p.a. ( (NTZ) ) has released its Q4 earnings. Here is a breakdown of the information Natuzzi S.p.a. presented to its investors.
Natuzzi S.p.A., a leading brand in the design and luxury furniture industry, is known for its Italian craftsmanship and global distribution network. The company recently reported its financial results for the full year and fourth quarter of 2024, highlighting a challenging market environment but also significant strides in its transformation journey.
For the full year 2024, Natuzzi’s total net sales were €318.8 million, a slight decrease from €328.6 million in 2023. The company saw a 4.1% increase in sales from its Directly Operated Stores, primarily driven by growth in the U.S. market. However, the year was marked by a restructuring effort, including the closure of its Shanghai factory and a net reduction of 1,141 employees since 2021. Despite these challenges, the gross margin improved to 36.3%, up from 34.3% in 2023.
In the fourth quarter of 2024, Natuzzi reported a total net sales of €74.9 million, down 10.9% from the previous year, largely due to industrial reorganizations. The company managed to improve its gross margin to 38.1% from 30.1% in the same quarter of 2023. Operating losses were reduced to (€2.6) million from (€7.3) million in the fourth quarter of 2023, reflecting the impact of strategic cost optimizations.
Looking ahead, Natuzzi remains focused on its strategic vision, emphasizing product innovation, digital transformation, and operational excellence. The company is well-positioned to navigate evolving trade frameworks and is committed to building a strong foundation for future success.