<SEC-DOCUMENT>0001157523-14-004695.txt : 20141201
<SEC-HEADER>0001157523-14-004695.hdr.sgml : 20141201
<ACCEPTANCE-DATETIME>20141128204328
ACCESSION NUMBER:		0001157523-14-004695
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20141128
FILED AS OF DATE:		20141201
DATE AS OF CHANGE:		20141128

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NATUZZI S P A
		CENTRAL INDEX KEY:			0000900391
		STANDARD INDUSTRIAL CLASSIFICATION:	HOUSEHOLD FURNITURE [2510]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11854
		FILM NUMBER:		141256276

	BUSINESS ADDRESS:	
		STREET 1:		VIA IAZZITIELLO 47
		CITY:			SANTERAMO ITALY
		STATE:			L6
		ZIP:			70029

	MAIL ADDRESS:	
		STREET 1:		VIA IAZZITIELLO 47
		CITY:			SANTERAMO ITALTY
		STATE:			L6
		ZIP:			999999999

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NATUZZI INDUSTRIES SPA
		DATE OF NAME CHANGE:	19950823
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a50993115.htm
<DESCRIPTION>NATUZZI S.P.A. 6-K
<TEXT>
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      <font style="font-family: Times New Roman; font-size: 12pt">Securities
      and Exchange Commission</font><br><font style="font-family: Times New Roman; font-size: 12pt">Washington,
      D.C. 20549</font><br><br><br><font style="font-family: Times New Roman; font-size: 18pt"><b>Form
      6-K</b></font><br><br><br><font style="font-family: Times New Roman; font-size: 12pt">Report
      of Foreign Issuer</font><br><font style="font-family: Times New Roman; font-size: 12pt">Pursuant
      To Rule 13a-16 Or 15d-16</font><br><font style="font-family: Times New Roman; font-size: 12pt">Of
      The</font><br><font style="font-family: Times New Roman; font-size: 12pt">Securities
      Exchange Act of 1934</font><br><br>
    </p>
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    <table style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
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        <td valign="top" style="padding-left: 0.0px; width: 33%; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt">For the month of </font><font style="font-family: Times New Roman; font-size: 10pt"><b>NOVEMBER,
            2014</b></font>
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 34%; text-align: left">
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 33%; text-align: right">
          Commission File Number 1-11854
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
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    <table style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 14pt"><b>NATUZZI S.p.A.</b></font>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt">(Translation of registrant's name
            into English)</font>
          </p>
        </td>
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    </table>
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    <p style="text-align: center">
      <br>

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      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center">
          Via Iazzitiello 47
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          70029 Santeramo, Italy
        </td>
      </tr>
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        <td valign="top" style="padding-left: 0.0px; text-align: center">
          (Address of principal office)
        </td>
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    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <br>

    </p>
    <p style="text-align: left; text-indent: 30.0px">
      <font style="font-family: Times New Roman; font-size: 10pt">Indicate by
      check mark whether the registrant files or will file annual reports
      under cover of Form 20-F or Form 40-F:</font><br><font style="font-family: Times New Roman; font-size: 10pt">Form
      20-F</font><font style="font-family: Times New Roman; font-size: 10pt"> </font><font style="font-family: Arial Unicode MS; font-size: 11pt">&#8864;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Form 40-F </font><font style="font-family: Arial Unicode MS; font-size: 12pt">&#8414;</font>
    </p>
    <p style="text-align: left; text-indent: 30.0px">
      <font style="font-family: Times New Roman; font-size: 10pt">Indicate by
      check mark whether the registrant by furnishing the information
      contained in this Form is also thereby furnishing the information to the
      Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act
      of 1934. &#160;Yes </font><font style="font-family: Arial Unicode MS; font-size: 12pt">&#8414;</font><font style="font-family: Times New Roman; font-size: 10pt">&#160;&#160;
      No </font><font style="font-family: Arial Unicode MS; font-size: 11pt">&#8864;</font>
    </p>
    <p style="text-indent: 30.0px">
      <font style="font-family: Times New Roman; font-size: 10pt">If &quot;Yes&quot; is
      marked, indicate below the file number assigned to the registrant in
      connection with Rule 12g3-2(b):</font>
    </p>
    <div style="margin-right: 0pt; width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
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          <hr style="color: black; height: 1.5pt">

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        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Third
      Quarter 2014 Consolidated Financial Results</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>NATUZZI:SIGNS
      OF IMPROVEMENT</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <i><font style="font-family: Times New Roman; font-size: 12pt"><b>NET
        SALES UP BY 8.2%</b></font></i>
      </li>
      <li style="margin-bottom: 10.0px">
        <i><font style="font-family: Times New Roman; font-size: 12pt"><b>SIGNIFICANT
        REDUCTION (-12.2%) IN FIXED SG&amp;A COSTS</b></font></i>
      </li>
      <li style="margin-bottom: 10.0px">
        <i><font style="font-family: Times New Roman; font-size: 12pt"><b>10.9%
        REDUCTION IN QUARTERLY OPERATING LOSS</b></font></i>
      </li>
    </ul>
    <p>
      SANTERAMO IN COLLE, Italy--(BUSINESS WIRE)--November 28, 2014--The Board
      of Directors of Natuzzi S.p.A. (NYSE:NTZ) (&#8220;Natuzzi&#8221; or the &#8220;Company&#8221;)
      has approved its consolidated financial results for third quarter 2014.
    </p>
    <p>
      After the meeting of the Board of Directors, the Chief Executive
      Officer, Pasquale Natuzzi, commented:
    </p>
    <p>
      &#8220;<i>Third quarter financial results highlight the first benefits
      from those measures announced and implemented during the course of the
      year: both order flow and turnover increased compared to the same period
      of the prior year.</i>
    </p>
    <p>
      <i>The</i> <i>brand and distribution strategy upon which we have built
      our business plan confirms its validity. Among the factors that have
      contributed to this result we highlight:</i>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <i>the new Natuzzi Italia and Natuzzi Editions collections presented
        during the Milan and High Point fairs and Retail Spring Congress</i>
      </li>
      <li style="margin-bottom: 10.0px">
        <i>the launch of our Re-Vive armchair within the recliner segment</i>
      </li>
      <li style="margin-bottom: 10.0px">
        <i>the broadening of our product offering to include living room and
        bedroom furnishings, as well as beds</i>
      </li>
    </ul>
    <p>
      <i>The industrial efficiency recovery measures announced in recent
      quarters and aimed at solving production delays in China and Italy that
      affected our turnover during the prior two quarters have started to
      generate the expected benefits. Third quarter turnover was &#8364;111.7
      million, up 8.2%</i> <i>compared to the same period of 2013. This
      increase in turnover is meaningful in relative terms if we consider its
      progression over each of the first three quarters of the year compared
      to each of the first three quarters of 2013: &#8211; 11,2% in the first
      quarter; -1,2% in the second quarter; and + 8,2%% in the third quarter.</i>
    </p>
    <div style="margin-right: 0pt; width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <i>The gradual improvement in productivity within our manufacturing
      plants over the last few months has positively affected our gross
      margin, which increased from 25.8% in the second quarter of 2014 to
      27.9% in the third quarter of 2014 (a 2.1% improvement), notwithstanding
      an increase in raw materials.</i>
    </p>
    <p>
      <i>Furthermore, fixed selling, general and administrative costs fell by
      12.2% compared to the third quarter of 2013, both in absolute terms (a
      &#8364;2.8 million reduction), and as a percentage of net sales (a 4.2%
      reduction on net sales), decreasing from 22.5% of net sales in the third
      quarter of 2013 to 18.2% of net sales in the third quarter of 2014,
      which decrease was attributable, in part, to the introduction of
      rationalization measures designed to optimize our commercial structure.</i>
    </p>
    <p>
      <i>The actions implemented thus far have allowed Natuzzi to reduce its
      quarterly operating loss by 10.9% and improve its quarterly EBITDA by
      18.9%, as compared to the third quarter of 2013.</i>
    </p>
    <p>
      <i>We intend to continue implementing our &#8220;lean-enterprise&#8221; program,
      designed to improve efficiencies, reduce costs and generate higher
      operating cash flow.</i>
    </p>
    <p>
      ----------------------------------------------
    </p>
    <p>
      Mr. Antonio Cavallera has been appointed Chief HR, IT and Organization
      Officer of the Natuzzi Group. Antonio holds a degree in Law and has been
      with the Company since 2006 within the Human Resources department
      managing the HR Dos Retail, Training &amp; Change program, and HR Commercial
      activities. In October 2012, Antonio took on the role of Chief Planning,
      Organization and Corporate Communications Officer, directly reporting to
      the CEO, and became a member of the Senior Executive Team.
    </p>
    <p>
      Mr. Umberto Bedini has resigned as Chief Operations Officer of the
      Natuzzi Group, for personal reasons. The Chief Executive Officer of the
      Group takes on this responsibility <i>ad interim</i>.
    </p>
    <p>
      ----------------------------------------------
    </p>
    <p>
      The Company will host a conference call on Monday December 1, 2014 at
      10:00 a.m. U.S. Eastern Time (4.00 p.m. Italian time, or 3.00 p.m. UK
      time) to discuss financial results.
    </p>
    <p>
      The dial-in phone numbers for the live conference call are
      1-888-359-3624 (toll-free) for persons calling from the U.S. or Canada,
      and 1-719-785-1753 for those calling from other countries.
    </p>
    <p>
      A live web cast of the conference call will be available on line at <u><b>http://www.natuzzi.com/</b></u>
      under the &#8220;Investor Relations&#8221; section.
    </p>
    <p>
      A replay of the call will be available shortly after the end of the
      conference call starting from December 1, 2014 (from 1:00 pm US Eastern
      time), to January 1, 2015. To access the replay of the conference call,
      interested persons need to dial 1-877-870-5176 (toll-free) for calls
      from U.S. and Canada, and 1-858-384-5517 for calls from other countries.
      The access code for the replay is: 2152906.
    </p>
    <div style="margin-right: 0pt; width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS</b>
    </p>
    <p>
      <i>Certain statements set forth in this press release constitute
      forward-looking statements within the meaning of the safe harbor
      provisions of Section 27A of the Securities Act of 1933, as amended, and
      Section 21E of the Securities Exchange Act of 1934, as amended. These
      statements involve risks and uncertainties that could cause Natuzzi&#8217;s
      actual results to differ materially from those stated or implied by such
      forward-looking statements. More information about the potential factors
      that could affect the Company&#8217;s business and financial results is
      included in Natuzzi&#8217;s filings with the Securities and Exchange
      Commission, including the Company&#8217;s Annual Report on Form 20-F for the
      year ended December 31, 2013. Natuzzi undertakes no obligation to update
      any of the forward-looking statements after the date of this press
      release.</i>
    </p>
    <p>
      ----------------------------------------------
    </p>
    <p>
      <b>About Natuzzi S.p.A.</b>
    </p>
    <p>
      Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. designs,
      manufactures and sells a broad collection of couches, armchairs, home
      furniture and home accessories. With consolidated revenues of &#8364;449.1
      million in 2013, Natuzzi is Italy&#8217;s largest furniture house and the
      player with the greatest global reach in its sector, with eight
      manufacturing plants, twelve commercial offices and more than 1,200
      points of sale worldwide. Ethics and social responsibility, innovation,
      industrial know-how and integrated management of its value chain
      represent the points of strength that have made the Natuzzi Group a
      market leader and established Natuzzi as the most recognized furniture
      brand in the world among consumers of luxury goods. Natuzzi S.p.A. has
      been listed on the New York Stock Exchange since May 1993. The Company
      is ISO 9001 and 14001 certified.
    </p>
    <div style="margin-right: 0pt; width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td colspan="16">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="16" style="padding-left: 0.0px; text-align: center">
          <b>Natuzzi S.p.A. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="16" style="padding-left: 0.0px; text-align: center">
          <b>Unaudited Consolidated Profit &amp; Loss for the third quarter 2014 &amp;
          2013 on the basis of Italian GAAP</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="16" style="padding-left: 0.0px; text-align: center">
          <i>(expressed in millions Euro, except per share amounts)</i>
        </td>
      </tr>
      <tr>
        <td colspan="16">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; text-align: center">
          <b>Three months ended on</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; text-align: center">
          <b>Change</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; text-align: center">
          <b>Percentage of Sales</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-14</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-13</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: center">
          <b>%</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-14</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-13</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Upholstery net sales
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          100.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          92.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          8.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          89.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          89.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          Other sales
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          11.6
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          10.7
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          8.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          10.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          10.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Total Net Sales</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>111.7</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>103.3</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>8.2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Consumption (*)
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (52.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (48.1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          9.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -47.1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -46.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Labor
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (20.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (17.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          17.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -18.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -16.9
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Industrial Costs
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (7.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (7.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          4.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -6.7
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -7.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          <i>of which: Depreciation, Amortization</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <i>(2.9</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <i>)</i>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <i>(2.5</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <i>)</i>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          17.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <i>-2.6</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <i>-2.4</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Cost of Sales</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(80.6</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(72.7</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>10.8</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-72.1</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-70.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Industrial Margin</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>31.1</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>30.6</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>1.9</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>27.9</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>29.6</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Selling Expenses</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>(18.6</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>(16.2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>15.2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>-16.7</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>-15.6</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 50.0px; text-align: left">
          <i>Transportation</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>(12.5</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>)</i>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>(10.7</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>)</i>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>16.4</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>-11.2</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>-10.4</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 50.0px; text-align: left">
          <i>Commissions</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>(2.2</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>)</i>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>(1.6</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>)</i>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>36.9</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>-2.0</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>-1.6</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 50.0px; text-align: left">
          <i>Advertising</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>(3.9</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>)</i>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>(3.8</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>)</i>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>2.4</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>-3.5</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>-3.7</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Other Selling and G&amp;A</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>(20.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>(23.2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>-12.2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>-18.2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>-22.5</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          <i>of which: Depreciation, Amortization</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <i>(1.2</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <i>)</i>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <i>(1.8</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <i>)</i>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          -30.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <i>-1.1</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <i>-1.7</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>EBITDA</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(3.7</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(4.5</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-18.9</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-3.3</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-4.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>EBIT</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(7.8</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(8.8</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-10.9</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-7.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-8.5</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Interest Income/(Costs), Net
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (0.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (0.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Foreign Exchange, Net
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (1.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (0.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          Other Income/(Cost), Net
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          0.9
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          (8.9
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          )
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Earning before Income Taxes</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(9.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(18.3</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-8.1</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-17.8</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Current taxes
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (0.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (0.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -0.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -0.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Net Result</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(9.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(18.7</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-8.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-18.1</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Minority interest
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (0.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          0.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Net Group Result</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(9.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(18.7</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-8.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-18.1</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Net Group Result per Share</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(0.17</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(0.34</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Key Figures in U.S. dollars</b>
        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; text-align: center">
          <b>Three months ended on</b>
        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; text-align: center">
          <b>Change</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; text-align: center">
          <b>Percentage of Sales</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <i>(millions)</i>
        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          <b>30-Sep-14</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          <b>30-Sep-13</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: center">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          <b>30-Sep-14</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          <b>30-Sep-13</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Total Net Sales</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>148.0</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          136.8
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>8.2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Industrial Margin</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>41.3</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          40.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>1.9</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>27.9</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>29.6</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>EBIT</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>(10.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (11.7
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>-7.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>-8.5</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Net Group Result</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>(12.5</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (24.8
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>-8.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>-18.1</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Net Group Result per Share</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>(0.23</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (0.45
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Average exchange rate (U.S.$ per 1&#8364;)</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>1.3253</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="9" style="padding-left: 0.0px; text-align: left">
          <i>(*) Purchases plus beginning stock minus final stock and leather
          processing</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="16">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td colspan="23">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="23" style="padding-left: 0.0px; text-align: center">
          <b>UPHOLSTERY NET SALES BREAKDOWN</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="23" style="padding-left: 0.0px; text-align: center">
          GEOGRAPHIC BREAKDOWN
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; text-align: center">
          <b>NET SALES (in &#8364;, million)</b>
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; text-align: center">
          <b>NET SALES (in seats sold)</b>
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; text-align: center">
          <b>Three months ended on</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; text-align: center">
          <b>Three months ended on</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: left">
          <b>AREA</b>
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-14</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: center">
          <b>%</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-13</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: center">
          <b>%</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: center">
          <b>delta</b>
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-14</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: center">
          <b>%</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-13</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: center">
          <b>%</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: center">
          <b>delta</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Americas</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>43.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>43.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>38.6</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>41.7</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>12.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>207,517</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>52.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>192,939</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>48.8</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>7.6</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: right">
          Natuzzi
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          26.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          26.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          23.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          25.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          11.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          100,202
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          25.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          95,764
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          24.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          4.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          Private label
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          17.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          17.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          15.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          16.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          13.7
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          107,316
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          27.1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          97,175
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          24.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          10.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>EMEA</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>42.1</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>42.1</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>40.1</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>43.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>4.8</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>143,703</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>36.3</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>154,514</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>39.1</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-7.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: right">
          Natuzzi
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          34.1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          34.1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          28.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          30.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          20.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          96,495
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          24.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          80,771
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          20.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          19.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          Private label
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          8.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          8.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          11.8
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          12.8
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          -32.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          47,208
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          11.9
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          73,743
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          18.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          -36.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Asia-Pacific</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>14.6</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>14.6</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>13.8</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>14.9</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>6.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>45,161</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>11.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>47,991</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>12.1</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-5.9</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: right">
          Natuzzi
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          14.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          14.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          12.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          13.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          12.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          42,627
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          10.8
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          40,103
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          10.1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          6.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          Private label
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          0.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          0.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          1.1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          1.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          -67.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          2,534
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          0.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          7,888
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          2.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          -67.9
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>TOTAL</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.1</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>92.5</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>8.2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>396,381</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>395,443</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>0.2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="23" style="padding-left: 0.0px; text-align: center">
          <b>BREAKDOWN BY BRAND</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; text-align: center">
          <b>NET SALES (in &#8364;, million)</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; text-align: center">
          <b>NET SALES (in seats sold)</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; text-align: center">
          <b>Three months ended on</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; text-align: center">
          <b>Three months ended on</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: left">
          <b>BRAND</b>
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-14</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: center">
          <b>%</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-13</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: center">
          <b>%</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: center">
          <b>delta</b>
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-14</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: center">
          <b>%</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-13</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: center">
          <b>%</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: center">
          <b>delta</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: right">
          Natuzzi
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          74.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          74.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          64.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          69.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          15.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          239,324
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          60.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          216,638
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          54.8
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          10.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          Private label
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          25.7
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          25.7
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          28.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          30.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          -8.8
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          157,057
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          39.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          178,805
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          45.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          -12.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>TOTAL</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.1</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>92.5</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>8.2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>396,381</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>395,443</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>0.2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="23" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>The &quot;<b>Natuzzi</b>&quot; brand includes the Group's three lines
          of product: Natuzzi Italia, Natuzzi Editions and Natuzi Re-Vive</i>
        </td>
      </tr>
      <tr>
        <td colspan="23">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td colspan="13">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="13" style="padding-left: 0.0px; text-align: center">
          <b>Natuzzi S.p.A. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="13" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: center">
          <b>Unaudited Consolidated Profit &amp; Loss for the first nine months
          2014 &amp; 2013 on the basis of Italian GAAP</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="13" style="padding-left: 0.0px; text-align: center">
          <i>(expressed in millions Euro, except per share amounts)</i>
        </td>
      </tr>
      <tr>
        <td colspan="13">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td valign="top" colspan="4" style="padding-left: 0.0px; text-align: center">
          <b>Nine months ended on</b>
        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; text-align: center">
          <b>Change</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="top" colspan="4" style="padding-left: 0.0px; text-align: center">
          <b>Percentage of Sales</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-14</b>
        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-13</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: center">
          <b>%</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-14</b>
        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-13</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Upholstery net sales
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          288.3
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          294.2
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -2.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          89.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          89.7
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          Other sales
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          34.5
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          33.8
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          2.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          10.7
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          10.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Total Net Sales</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>322.8</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>328.1</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-1.6</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Consumption (*)
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (149.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (152.1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -1.9
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -46.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -46.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Labor
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (64.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (58.8
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          9.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -20.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -17.9
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Industrial Costs
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (20.9
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (21.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -0.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -6.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -6.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          <i>of which: Depreciation, Amortization</i>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <i>(7.4</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <i>)</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <i>(7.1</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <i>)</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          3.8
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <i>-2.3</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <i>-2.2</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Cost of Sales</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(234.5</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(231.8</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>1.1</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-72.7</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-70.7</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Industrial Margin</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>88.3</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>96.2</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-8.3</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>27.3</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>29.3</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Selling Expenses</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>(51.1</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>(49.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>3.5</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>-15.8</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>-15.1</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 50.0px; text-align: left">
          <i>Transportation</i>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>(33.7</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>)</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>(33.4</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>)</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>1.0</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>-10.4</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>-10.2</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 50.0px; text-align: left">
          <i>Commissions</i>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>(6.7</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>)</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>(6.4</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>)</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>4.4</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>-2.1</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>-1.9</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 50.0px; text-align: left">
          <i>Advertising</i>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>(10.8</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>)</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>(9.7</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>)</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>11.5</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>-3.3</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <i>-2.9</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Other Selling and G&amp;A</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>(65.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>(69.8</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>-6.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>-20.3</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>-21.3</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          <i>of which: Depreciation, Amortization</i>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <i>(3.2</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <i>)</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <i>(5.2</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <i>)</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          -37.1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <i>-1.0</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <i>-1.6</i>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>EBITDA</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(17.6</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(10.8</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-5.5</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-3.3</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>EBIT</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(28.3</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(23.1</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-8.8</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-7.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Interest Income/(Costs), Net
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (1.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (0.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Foreign Exchange, Net
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (0.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (1.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          Other Income/(Cost), Net
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          (3.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          (10.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          )
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Earning before Income Taxes</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(32.7</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(35.2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-10.1</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-10.7</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Current taxes
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (1.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (3.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -0.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -1.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Net Result</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(33.9</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(38.7</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-10.5</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-11.8</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Minority interest
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (0.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (0.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Net Group Result</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(33.9</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(38.9</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-10.5</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-11.8</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Net Group Result per Share</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(0.62</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(0.71</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Key Figures in U.S. dollars</b>
        </td>
        <td>

        </td>
        <td valign="top" colspan="4" style="padding-left: 0.0px; text-align: center">
          <b>Nine months ended on</b>
        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; text-align: center">
          <b>Change</b>
        </td>
        <td>

        </td>
        <td valign="top" colspan="4" style="padding-left: 0.0px; text-align: center">
          <b>Percentage of Sales</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <i>(millions)</i>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          <b>30-Sep-14</b>
        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          <b>30-Sep-13</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: center">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          <b>30-Sep-14</b>
        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          <b>30-Sep-13</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Total Net Sales</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>437.5</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          444.7
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>-1.6</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Industrial Margin</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>119.6</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          130.4
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>-8.3</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>27.3</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>29.3</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>EBIT</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>(38.3</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (31.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>-8.8</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>-7.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Net Group Result</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>(46.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (52.7
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>-10.5</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>-11.8</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Net Group Result per Share</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>(0.84</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          <b>)</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (0.96
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Average exchange rate (U.S.$ per 1&#8364;)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>1.3555</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="13" style="padding-left: 0.0px; text-align: left">
          <i>(*) Purchases plus beginning stock minus final stock and leather
          processing</i>
        </td>
      </tr>
      <tr>
        <td colspan="13">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td colspan="23">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="23" style="padding-left: 0.0px; text-align: center">
          <b>UPHOLSTERY NET SALES BREAKDOWN</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="23" style="padding-left: 0.0px; text-align: center">
          GEOGRAPHIC BREAKDOWN
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; text-align: center">
          <b>NET SALES (in &#8364;, million)</b>
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; text-align: center">
          <b>NET SALES (in seats sold)</b>
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; text-align: center">
          <b>Nine months ended on</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; text-align: center">
          <b>Nine months ended on</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: left">
          <b>AREA</b>
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-14</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: center">
          <b>%</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-13</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: center">
          <b>%</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: center">
          <b>delta</b>
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-14</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: center">
          <b>%</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-13</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: center">
          <b>%</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: center">
          <b>delta</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Americas</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>116.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>40.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>123.1</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>41.8</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-5.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>576,076</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>48.9</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>608,753</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>49.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-5.4</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: right">
          Natuzzi
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          69.1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          24.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          75.8
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          25.8
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -8.7
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          273,703
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          23.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          318,306
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          25.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -14.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          Private label
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          47.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          16.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          47.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          16.1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          -0.1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          302,373
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          25.7
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          290,447
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          23.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          4.1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>EMEA</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>134.6</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>46.7</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>135.3</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>46.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-0.5</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>474,302</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>40.3</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>507,095</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>40.8</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-6.5</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: right">
          Natuzzi
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          108.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          37.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          102.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          34.8
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          5.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          308,387
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          26.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          304,837
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          24.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          1.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          Private label
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          26.7
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          9.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          32.8
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          11.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          -18.8
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          165,915
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          14.1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          202,259
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          16.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          -18.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Asia-Pacific</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>37.2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>12.9</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>35.8</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>12.2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>3.9</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>126,691</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>10.8</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>126,014</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>10.1</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>0.5</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: right">
          Natuzzi
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          35.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          12.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          32.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          11.1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          9.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          114,420
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          9.7
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          102,781
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          8.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          11.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          Private label
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <p style="margin-top: 0px; margin-bottom: 0px">
            1.7
          </p>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          0.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          3.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          1.1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          -49.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          12,271
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          1.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          23,233
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          1.9
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          -47.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>TOTAL</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>288.3</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>294.2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-2.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>1,177,069</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>1,241,862</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-5.2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="23" style="padding-left: 0.0px; text-align: center">
          <b>BREAKDOWN BY BRAND</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; text-align: center">
          <b>NET SALES (in &#8364;, million)</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; text-align: center">
          <b>NET SALES (in seats sold)</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; text-align: center">
          <b>Nine months ended on</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; text-align: center">
          <b>Nine months ended on</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: left">
          <b>BRAND</b>
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-14</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: center">
          <b>%</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-13</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: center">
          <b>%</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: center">
          <b>delta</b>
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-14</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: center">
          <b>%</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-13</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: center">
          <b>%</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: center">
          <b>delta</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: right">
          Natuzzi
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          212.7
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          73.8
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          210.8
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          71.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          0.9
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          696,510
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          59.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          725,923
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          58.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -4.1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          Private label
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          75.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          26.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          83.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          28.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          -9.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          480,559
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          40.8
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          515,939
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          41.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          -6.9
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>TOTAL</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>288.3</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>294.2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-2.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>1,177,069</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>1,241,862</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>-5.2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="23" style="padding-left: 0.0px; text-align: left">
          <i>The &quot;<b>Natuzzi</b>&quot; brand includes the Group's three lines
          of product: Natuzzi Italia, Natuzzi Editions and Natuzi Re-Vive</i>
        </td>
      </tr>
      <tr>
        <td colspan="23">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td colspan="4">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="4" style="padding-left: 0.0px; text-align: center">
          <b>Natuzzi S.p.A. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="4" style="padding-left: 0.0px; text-align: center">
          <b>Unaudited Consolidated Balance Sheets on the basis of Italian GAAP</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="4" style="padding-left: 0.0px; text-align: center">
          <i>(Expressed in millions of Euro)</i>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: left">
          <b>ASSETS</b>
        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-14</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>31-Dec-13</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Current assets:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Cash and cash equivalents
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          33.4
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          61.0
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Marketable debt securities
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          0.0
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          0.0
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Trade receivables, net
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          91.4
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          78.9
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Other receivables
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          28.9
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          48.5
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Inventories
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          94.4
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          79.0
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Unrealized foreign exchange gains
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          0.0
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          0.6
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Prepaid expenses and accrued income
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          1.4
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          1.9
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          Deferred income taxes
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          0.4
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          0.3
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Total current assets</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>249.9</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>270.2</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Non-current assets:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Net property, plant and equipment
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          133.8
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          143.6
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          Other assets
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          7.6
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          8.1
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Total non-current assets</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>141.4</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>151.7</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>TOTAL ASSETS</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>391.3</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>421.9</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>LIABILITIES AND SHAREHOLDERS' EQUITY</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Current liabilities:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Short-term borrowings
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          23.3
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          25.0
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Current portion of long-term debt
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          3.4
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          3.3
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Accounts payable-trade
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          60.5
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          67.4
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Accounts payable-other
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          26.8
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          25.8
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Unrealized foreign exchange losses
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          0.5
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          0.2
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Income taxes
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          1.0
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          7.1
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Deferred income taxes
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          1.0
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          1.0
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          Salaries, wages and related liabilities
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          15.6
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          8.3
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Total current liabilities</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>132.0</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>138.2</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Long-term liabilities:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Employees' leaving entitlement
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          23.9
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          24.8
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Long-term debt
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          6.5
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          4.2
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Deferred income for capital grants
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          8.3
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          8.6
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          Other liabilities
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          33.4
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          34.4
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Total long-term liabilities</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>72.1</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>72.1</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Minority interest</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>2.9</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>2.7</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Shareholders' equity:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Share capital
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          54.9
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          54.9
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Reserves
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          42.8
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          42.8
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Additional paid-in capital
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          8.4
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          8.4
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          Retained earnings
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          78.2
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          102.8
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Total shareholders' equity</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>184.3</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>208.9</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>391.3</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>421.9</b>
        </td>
      </tr>
      <tr>
        <td colspan="4">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td colspan="4">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="4" style="padding-left: 0.0px; text-align: center">
          <b>Natuzzi S.p.A. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 5.0px; text-align: left">
          <b>Consolidated Statements of Cash Flows</b>
        </td>
        <td valign="top" colspan="3" style="padding-left: 0.0px; text-align: center">
          <b>Nine months ended on</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: left">
          <i>(Expressed in million of Euro)</i>
        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-14</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right">
          <b>30-Sep-13</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Cash flows from operating activities:</b>
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Net earnings (loss)</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>(33.9)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          <b>(38.9)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <i><b>Adjustments to reconcile net income to net cash</b></i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>provided by operating activities:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Depreciation and amortization
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          10.7
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          12.3
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Impairment of long lived assets
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          2.0
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Deferred income taxes
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (0.1)
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (0.5)
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Minority interest
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          0.0
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          0.2
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          (Gain) loss on disposal of assets
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          0.1
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (0.1)
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Unrealized foreign exchange losses (gains)
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          0.9
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          0.8
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Extraordinary items, net
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          1.8
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          11.4
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          Deferred income for capital grants
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          (0.3)
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          (0.3)
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Non monetary operating items</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>15.0</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>23.8</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <i><b>Change in assets and liabilities:</b></i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Receivables, net
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (12.8)
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          10.0
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Inventories
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (15.4)
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (1.3)
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Prepaid expenses and accrued income
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          0.6
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          0.4
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Accounts payable
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (6.3)
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (8.8)
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Income taxes
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (6.2)
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          1.6
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Salaries, wages and related liabilities
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          7.2
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          2.7
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Other assets/liabilities, net
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          21.6
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          3.9
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          Employees' leaving entitlement
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          -
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Net working capital</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(11.2)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>8.6</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Net cash generated/(used) by operating activities</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(30.1)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(6.5)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Cash flows from investing/restructuring activities:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Property, plant and equipment:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 15.0px; text-align: left">
          Additions
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (6.8)
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (6.0)
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 15.0px; text-align: left">
          Disposals
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          6.9
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          0.1
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Goverment grants received
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          0.5
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          One time termination benefits
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (2.1)
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          Lay-off/Rent penalty dos closure
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          (0.8)
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          -
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Net cash generated/(used) by investing/restructuring activities</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(2.4)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(5.8)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <b>Cash flows from financing activities:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Long-term debt:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 15.0px; text-align: left">
          Proceeds
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          5.0
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          -
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 15.0px; text-align: left">
          Repayments
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (2.6)
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (2.9)
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      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Short-term borrowings
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        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          (1.7)
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right">
          1.6
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          Dividends paid to minority interests
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          -
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          &#160;
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          (0.2)
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
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        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>0.7</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(1.5)</b>
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      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Effect of translation adjustments on cash</b>
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        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>4.3</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(0.4)</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Increase (decrease) in cash and cash equivalents</b>
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        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(27.6)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>(14.2)</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Cash and cash equivalents, beginning of the year</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>61.0</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>77.7</b>
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      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Cash and cash equivalents, end of the period</b>
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        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>33.4</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right">
          <b>63.5</b>
        </td>
      </tr>
      <tr>
        <td colspan="4">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br><b>NATUZZI</b><br><b>INVESTOR RELATIONS</b><br>Piero
      Direnzo, +39.080.8820.812<br><u>pdirenzo@natuzzi.com</u><br>or<br><b>CORPORATE
      COMMUNICATION</b><br>Vito Basile, +39.080.8820.676<br>(Press Office)<br><u>vbasile@natuzzi.com</u>
    </p>
    <p style="text-align: left">

    </p>
    <div style="margin-right: 0pt; width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
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      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">
      <br>
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURES</b></font><font style="font-family: Times New Roman; font-size: 10pt">
      </font>
    </p>
    <p style="text-indent: 30.0px">
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned thereunto duly authorized.</font>
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 59%">

        </td>
        <td style="width: 3%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 32%; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            NATUZZI S.p.A.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 59%">

        </td>
        <td style="width: 3%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 32%; text-align: left">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 59%">

        </td>
        <td style="width: 3%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 32%; text-align: center">
          (Registrant)
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; width: 6%; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 59%; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 3%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 32%; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 0.0px; width: 6%; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Date:
          </p>
        </td>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 0.0px; width: 59%; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>NOVEMBER 28, 2014</b>
          </p>
        </td>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 0.0px; width: 3%; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            By:
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; width: 32%; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt">/s/ Pasquale Natuzzi</font>
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        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 59%">

        </td>
        <td style="width: 3%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 32%; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt">Pasquale Natuzzi</font>
          </p>
        </td>
      </tr>
    </table>
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