Home / Knowledge / News / Textiles / Natuzzi leather upholstered net sales up
Natuzzi leather upholstered net sales up
05
Sep '08
The Board of Directors of Natuzzi S.p.A., the world's leading manufacturer of leather-upholstered furniture, presented the second quarter and first half 2008 consolidated financial results.

Aldo Uva, Chief Executive Officer of the Natuzzi Group, commented: “The sales increase achieved versus the same period of last year and the much better EBIT result versus the previous quarter are a great accomplishment considering the current market conditions. However, we can not be happy for the overall result.

We still have a lot of work to do to make our Group “lean” and to increase dramatically our level of service to the markets while drastically reducing costs.

We remain committed in restructuring our sales and operating activities through a new brand strategy that will address different consumer's segments and geographic areas, with a special focus on the emerging markets like Brazil, India, Russia, China and Middle East.

At the same time we are speeding up new plans to achieve a drastic cost reduction in the area of operations and staff. A first clear step in this direction has been the introduction of a new organization model which is more consumer oriented and capable to move with great efficiency and effectiveness.

As for the 2008 fiscal year, we expect to keep increasing our top line in the region of 10 percent to about 700 million euros and to reduce the overall losses versus last year.

I am also pleased to announce that the Board of Directors examined the strategic guidelines supporting our new business plan covering the three-year period 2009 through 2011. Our declared goal is to achieve 1 billion euros of net sales in 2011 with an EBIT of 15 percent. A bold target supported by a focused plan that the management is working on and that will be ready for the Board approval in October. The new plan has been called: 11-1-15”.

CONSOLIDATED FINANCIAL RESULTS

NET SALES
During the quarter ended June 30, 2008 total net sales for the Natuzzi Group were at EUR 168.8 million, up 3.9 percent from EUR 162.4 million reported in the second quarter of 2007 and unit sold were up by 2.7 percent with respect to the same period of last year. Considering the first semester of 2008, Group's total net sales were up 8.0 percent at EUR 341.6 million, and unit sold were up by 9.2 percent over the same period of 2007.

In second quarter 2008, upholstery net sales increased by 2.1 percent at EUR 147.9 million and other sales (principally living room accessories and raw material produced by the Group and sold to third parties) were up by 19.4 percent at EUR 20.9 million compared to last year same quarter.

For 2008 second quarter, upholstery net sales decreased 7.4 percent in the Americas at EUR 45.3 million, whereas upholstery net sales increased in Europe by 4.4 percent at EUR 89.9 million and by 28.3 percent in the Rest of the world at EUR 12.7 million over second quarter 2007.


Must ReadView All

Uzbekistan, S Korea to launch textile techno park in Sept

Textiles | On 19th Feb 2018

Uzbekistan, S Korea to launch textile techno park in Sept

Uzbekistan and South Korea plan to launch a modern textile techno...

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

Textiles | On 19th Feb 2018

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

The largest global spandex producer Hyosung Corporation of South...

Courtesy: VF Corporation

Apparel/Garments | On 19th Feb 2018

VF Corp Q4 revenue climbs 20% to $3.6 billion

The revenue of VF Corporation, a global leader in branded lifestyle...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Urmil Arya

Sushila International, a well established textile organisation established ...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search