Natuzzi Qtly leather-upholstery net sales fall

24 Nov '07

3 min read

The Board of Directors of Natuzzi S.p.A. presented the consolidated financial statements for the third quarter 2007.

NET SALES:
Natuzzi third quarter 2007 net sales were at EUR 141.3 million, down 10.9 percent from EUR 158.5 million in third quarter 2006. During the first nine months of 2007, total net sales decreased by 15.7 percent at EUR 457.5 million from EUR 542.4 million reported for the same comparable period of 2006.

In the third quarter 2007, upholstery net sales were at EUR 125.3 million, decreasing by 11.8 percent with respect to EUR 142.0 million in third quarter 2006. During the same period, the Group sold 594,888 seats, or 13.5 percent less than the same comparable period of 2006.

Other sales (principally living room accessories and raw material produced by the Group and sold to third parties) decreased 3.0 percent to EUR 16.0 million over third quarter 2006.

During the quarter ended September 30, 2007 net sales in the Americas decreased by 19.0 percent at EUR 48.7 million from EUR 60.1 million in third quarter 2006, by 6.1 percent in Europe at EUR 64.6 million and by 8.4 percent in the rest of the world at EUR 12.0 million.

In the third quarter of 2007, 11 new Natuzzi Stores were opened (2 in France, 2 in UK, 2 in the Netherlands, and 1 in Germany, Russia, Romania, Poland and China), whereas 1 store was closed in Hungary, thus bringing the total number of Natuzzi Stores to 290 as of September 30, 2007. As of the same date, there were 486 Natuzzi Galleries worldwide.

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