<SEC-DOCUMENT>0000903423-17-000454.txt : 20170707
<SEC-HEADER>0000903423-17-000454.hdr.sgml : 20170707
<ACCEPTANCE-DATETIME>20170707162140
ACCESSION NUMBER:		0000903423-17-000454
CONFORMED SUBMISSION TYPE:	20-F/A
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20151231
FILED AS OF DATE:		20170707
DATE AS OF CHANGE:		20170707

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:		20-F/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11854
		FILM NUMBER:		17955429

	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>20-F/A
<SEQUENCE>1
<FILENAME>nat20fa.htm
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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 4pt 0 0; text-align: center; border-top: Black 1.5pt double"><B>UNITED
STATES </B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549 </B></P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>FORM 20-F/A </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>(Amendment No. 1)</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>OF THE SECURITIES EXCHANGE ACT OF 1934 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>For the Fiscal Year Ended: December&nbsp;31,
2015 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>Commission file number: 001-11854
</B></P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>NATUZZI S.p.A. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Exact name of Registrant as specified in
its charter) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>Republic of Italy </B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Jurisdiction of incorporation or organization)
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>Via Iazzitiello 47, 70029, Santeramo
in Colle, Bari, Italy </B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Address of principal executive offices) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>Mr.&nbsp;Vittorio Notarpietro </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Tel.: +39 080 8820 111; <U>vnotarpietro@natuzzi.com</U>;
Via Iazzitiello 47, 70029 Santeramo in Colle, Bari, Italy </B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Name, telephone, e-mail and/or facsimile
number and address of company contact person) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>Securities registered or to be registered
pursuant to Section 12(b) of the Act: </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 55%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Title of each class</B></P>
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    <TD NOWRAP STYLE="padding-left: 0.1in">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Name of each exchange on which registered</B></P>
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<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><B>American Depositary Shares, each representing one Ordinary Share</B></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><B>New York Stock Exchange</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><B>Ordinary Shares, with a par value of &euro;1.00 each</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>New York Stock Exchange</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 1pt; text-align: center"><B>(for listing purposes only)</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>Securities registered or to be registered
pursuant to Section 12(g) of the Act: </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>None </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>Securities for which there is a reporting
obligation pursuant to Section 15(d) of the Act: </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>None </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Indicate the number of outstanding shares of each of the
issuer&rsquo;s classes of capital or common stock as of the close of the period covered by the annual report:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">As of December&nbsp;31, 2015 <B>54,853,045
Ordinary Shares </B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Indicate by check mark if the registrant is a well-known
seasoned issuer, as defined in Rule 405 of the Securities Act.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;<FONT STYLE="font-family: MS Mincho">&#9744;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT STYLE="font-family: MS Mincho">&#9746;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">If this report is an annual or transition report, indicate
by check mark if the registrant is not required to file reports pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange
Act of 1934.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;<FONT STYLE="font-family: MS Mincho">&#9744;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT STYLE="font-family: MS Mincho">&#9746;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Indicate by check mark whether the registrant (1)&nbsp;has
filed all reports required to be filed by Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the registrant was required to file such reports), and (2)&nbsp;has been subject to
such filing requirements for the past 90 days.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;<FONT STYLE="font-family: MS Mincho">&#9746;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT STYLE="font-family: MS Mincho">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Indicate by check mark whether the registrant has submitted
electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant
to Rule 405 of Regulation S-T (&sect;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the
registrant was required to submit and post such files).&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;<FONT STYLE="font-family: MS Mincho">&#9746;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT STYLE="font-family: MS Mincho">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 0">Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, or a non-accelerated filer. See definition of &ldquo;accelerated filer and large accelerated filer&rdquo;
in Rule 12b-2 of the Exchange Act. (Check one):</P>

<P STYLE="font: 3pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 34%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Large&nbsp;accelerated&nbsp;filer&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Accelerated&nbsp;filer&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">x</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Non-accelerated&nbsp;filer&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Indicate by check mark which basis of accounting the registrant
has used to prepare the financial statements included in this filing:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR>
    <TD STYLE="width: 34%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">U.S. GAAP&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: MS Mincho">&#9744;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">IFRS&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: MS Mincho">&#9744;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Other&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: MS Mincho">&#9746;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">If &ldquo;Other&rdquo; has been checked in response to the
previous question, indicate by check mark which financial statement item the registrant has elected to follow.&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: MS Mincho">&#9744;</FONT>&nbsp;&nbsp;
Item&nbsp;17&nbsp;&nbsp;&nbsp;&nbsp; <FONT STYLE="font-family: MS Mincho">&#9746;</FONT> &nbsp;&nbsp; Item&nbsp;18</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">If this is an annual report, indicate by check mark whether
the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;<FONT STYLE="font-family: MS Mincho">&#9744;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT STYLE="font-family: MS Mincho">&#9746;</FONT></P>

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<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXPLANATORY NOTE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This Amendment No. 1 on Form 20-F/A (the &ldquo;Amendment&rdquo;)
amends Item 15(a) of the Annual Report on Form 20-F (the &ldquo;Original Annual Report&rdquo;) for the year ended December 31,
2015, which was originally filed with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) on May 23, 2016. We have modified
Part II Item 15(a), &ldquo;Controls and Procedures,&rdquo; in this Amendment in response to a comment letter received from the
SEC regarding management&rsquo;s conclusion as to the effectiveness of disclosure controls and procedures in the Original Annual
Report. In addition, we are including current Exhibits 12.1, 12.2 and 13.1, the certifications of our Chief Executive Officer and
Chief Financial Officer required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 as of the date of this Amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Except as described above, we have not modified
or updated any disclosures presented in the Original Annual Report. This Amendment does not reflect events occurring after the
filing of the Original Annual Report or modify or update those disclosures, including the exhibits to the Original Annual Report.
Accordingly, this Amendment should be read in conjunction with our filings with the SEC subsequent to the filing of the Original
Annual Report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">PART II</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.7in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps"><B>Item</B></FONT> 15.</TD><TD>CONTROLS AND PROCEDURES</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 48.95pt; background-color: white"><B>(a) Disclosure
Controls and Procedures &mdash;</B>&nbsp;The Company carried out an evaluation under the supervision and with the participation
of the Company&rsquo;s management, including the Chief Executive Officer and Chief Financial Officer, of the effectiveness of the
design and operation of the Company&rsquo;s disclosure controls and procedures as of December 31, 2015. There are inherent limitations
to the effectiveness of any system of disclosure controls and procedures, including the possibility of human error and the circumvention
or overriding of the controls and procedures. Accordingly, even effective disclosure controls and procedures can only provide reasonable
assurance of achieving their control objectives. Based on the Company&rsquo;s evaluation of its disclosure controls and procedures
and, since the Company failed to complete its evaluation of internal control over financial reporting by the deadlines prescribed
in the SEC&rsquo;s rules and forms, the Chief Executive Officer and Chief Financial Officer concluded that the Company&rsquo;s
disclosure controls and procedures were not effective as of December 31, 2015 to provide reasonable assurance that information
required to be disclosed in the reports the Company files and submits under the Exchange Act is recorded, processed, summarized
and reported within the time periods specified in the SEC&rsquo;s applicable rules and forms, and that it is accumulated and communicated
to the Company&rsquo;s management, including the Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely
decisions regarding required disclosure. The Company timely filed its annual report on Form 20-F for the year ended December 31,
2016 and concluded that its disclosure controls and procedures were effective as of the end of the period covered by such report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 48.95pt; background-color: white"><B>(b) Management&rsquo;s
Annual Report on Internal Control Over Financial Reporting &mdash;</B>&nbsp;The Company&rsquo;s management is responsible for establishing
and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f) and&nbsp;15d-15(f)&nbsp;under
the Securities Exchange Act of 1934, as amended. Internal control over financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in
accordance with generally accepted accounting principles. Because of its inherent limitations, internal controls over financial
reporting may not prevent or detect misstatements. Even when determined to be effective, they can provide only reasonable assurance
regarding the reliability of financial reporting and the preparation and presentation of financial statements. Also, projections
of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes
in conditions, or that the degree of compliance with the policies and procedures may deteriorate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 48.95pt; background-color: white">To assess
the effectiveness of the Company&rsquo;s internal control over financial reporting, the Company&rsquo;s management, including the
Chief Executive Officer and the Chief Financial Officer, used the criteria described in &ldquo;2013 Internal Control&mdash;Integrated
Framework&rdquo; issued by the Committee of Sponsoring Organizations of the Treadway Commission (&ldquo;COSO&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 48.95pt; background-color: white">The Company&rsquo;s
management assessed the effectiveness of its internal control over financial reporting as of December&nbsp;31, 2015. Based on such
assessment, the Company&rsquo;s management has concluded that as of December&nbsp;31, 2015, the Company&rsquo;s internal control
over financial reporting was effective and that there were no material weaknesses in the Company&rsquo;s internal control over
financial reporting.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 48.95pt; background-color: white">The effectiveness
of internal control over financial reporting as of December&nbsp;31, 2015 has been audited by Ernst&nbsp;&amp; Young, an independent
registered public accounting firm, as stated in their report on the Company&rsquo;s internal control over financial reporting,
which follows below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 48.95pt; background-color: white"><B>(c) Attestation
Report of the Registered Public Accounting Firm </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0"><B>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0">The Board of Directors and Shareholders of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0">Natuzzi S.p.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0">We have audited Natuzzi S.p.A. and subsidiaries&rsquo; internal
control over financial reporting as of December&nbsp;31, 2015, based on criteria established in Internal Control&mdash;Integrated
Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) (the COSO criteria).
Natuzzi S.p.A. and subsidiaries&rsquo; management is responsible for maintaining effective internal control over financial reporting,
and for its assessment of the effectiveness of internal control over financial reporting included in the accompanying Management&rsquo;s
Annual Report on Internal Control Over Financial Reporting. Our responsibility is to express an opinion on the company&rsquo;s
internal control over financial reporting based on our audit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">We conducted our audit in accordance with the standards of
the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects.
Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material
weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk,
and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable
basis for our opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">A company&rsquo;s internal control over financial reporting
is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally accepted accounting principles. A company&rsquo;s internal control
over financial reporting includes those policies and procedures that (1)&nbsp;pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2)&nbsp;provide reasonable
assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally
accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations
of management and directors of the company; and (3)&nbsp;provide reasonable assurance regarding prevention or timely detection
of unauthorized acquisition, use, or disposition of the company&rsquo;s assets that could have a material effect on the financial
statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods
are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance
with the policies or procedures may deteriorate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">In our opinion, Natuzzi S.p.A. and subsidiaries maintained,
in all material respects, effective internal control over financial reporting as of December&nbsp;31, 2015, based on the COSO criteria.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">We also have audited, in accordance with the standards of
the Public Company Accounting Oversight Board (United States), the consolidated balance sheets of Natuzzi S.p.A. and subsidiaries
as of December&nbsp;31, 2015 and 2014 and the related consolidated statements of operations, changes in shareholders&rsquo; equity
and cash flows for each of the three years in the period ended December&nbsp;31, 2015 and our report dated May&nbsp;23, 2016 expressed
an unqualified opinion thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">/s/ Reconta Ernst&nbsp;&amp; Young S.p.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Bari, Italy</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">May 23, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; background-color: white">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">PART III</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.7in">Item 19.</TD><TD><I>Exhibits</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 20pt"><FONT STYLE="font-weight: normal">&#9;Documents
filed as exhibits to this Amendment No. 1 to our annual report:</FONT></P>

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<TD STYLE="width: 15pt; text-align: right">12.1</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Certification of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley
Act of 2002.</TD>
</TR></TABLE>

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<TD STYLE="width: 15pt; text-align: right">12.2</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Certification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley
Act of 2002.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">13.1</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 35.45pt; text-indent: 0pt">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">SIGNATURE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.25in">The registrant, Natuzzi S.p.A., hereby
certifies that it meets all of the requirements for filing on Form 20-F/A and that it has duly caused and authorized the undersigned
to sign this annual report on its behalf.</P>

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    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><B>NATUZZI S.p.A.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0.5in; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.5in 0 12pt 17.1pt; text-indent: -17.1pt; border-bottom: Black 0.5pt solid">By:&#9;/s/
        Pasquale Natuzzi</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 1in; padding-bottom: 12pt; padding-left: 17.1pt">Name:&#9;Pasquale Natuzzi <BR>
Title:&#9;Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date: July 7, 2017</P>

<P STYLE="font: 9pt Georgia, Times, Serif; margin: 0; text-align: center"></P>


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<P STYLE="font: 9pt Georgia, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 12.1 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">I, Pasquale Natuzzi, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0">1. I have reviewed this Amendment No. 1 to the annual report
on Form 20-F of Natuzzi S.p.A.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">2. Based on my knowledge, this Amendment No. 1 to the annual
report on Form 20-F does not contain any untrue statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period
covered by this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">3. Based on my knowledge, the financial statements, and other
financial information included in this report, fairly present in all material respects the financial condition, results of operations
and cash flows of the company as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">4. The company&rsquo;s other certifying officer(s) and I
are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e)
and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the
company and have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 24.45pt">(a) Designed such disclosure controls and procedures,
or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating
to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during
the period in which this report is being prepared;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 24.45pt">(b) Designed such internal control over financial
reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable
assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in
accordance with generally accepted accounting principles;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 24.45pt">(c) Evaluated the effectiveness of the company&rsquo;s
disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls
and procedures, as of the end of the period covered by this report based on such evaluation; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 24.45pt">(d) Disclosed in this report any change in the company&rsquo;s
internal control over financial reporting that occurred during the period covered by the annual report that has materially affected,
or is reasonably likely to materially affect, the company&rsquo;s internal control over financial reporting; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">5. The company&rsquo;s other certifying officer(s) and I
have disclosed, based on our most recent evaluation of internal control over financial reporting, to the company&rsquo;s auditors
and the audit committee of the company&rsquo;s board of directors (or persons performing the equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 24.45pt">(a) All significant deficiencies and material weaknesses
in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the company&rsquo;s
ability to record, process, summarize and report financial information; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 24.45pt">(b) Any fraud, whether or not material, that involves
management or other employees who have a significant role in the company&rsquo;s internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Date: July 7, 2017</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 25%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 87%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">/s/ Pasquale Natuzzi</P>
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<TR>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">Name:</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Pasquale Natuzzi</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">Title:</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Chief Executive Officer</TD></TR>
</TABLE><BR STYLE="clear: both"> </P>


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<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 9pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 12.2 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">I, Vittorio Notarpietro, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0">1. I have reviewed this Amendment No. 1 to the annual report
on Form 20-F of Natuzzi S.p.A.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">2. Based on my knowledge, this Amendment No. 1 to the annual
report on Form 20-F does not contain any untrue statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period
covered by this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">3. Based on my knowledge, the financial statements, and other
financial information included in this report, fairly present in all material respects the financial condition, results of operations
and cash flows of the company as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">4. The company&rsquo;s other certifying officer(s) and I
are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e)
and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the
company and have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 24.45pt">(a) Designed such disclosure controls and procedures,
or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating
to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during
the period in which this report is being prepared;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 24.45pt">(b) Designed such internal control over financial
reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable
assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in
accordance with generally accepted accounting principles;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 24.45pt">(c) Evaluated the effectiveness of the company&rsquo;s
disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls
and procedures, as of the end of the period covered by this report based on such evaluation; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 24.45pt">(d) Disclosed in this report any change in the company&rsquo;s
internal control over financial reporting that occurred during the period covered by the annual report that has materially affected,
or is reasonably likely to materially affect, the company&rsquo;s internal control over financial reporting; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">5. The company&rsquo;s other certifying officer(s) and I
have disclosed, based on our most recent evaluation of internal control over financial reporting, to the company&rsquo;s auditors
and the audit committee of the company&rsquo;s board of directors (or persons performing the equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 24.45pt">(a) All significant deficiencies and material weaknesses
in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the company&rsquo;s
ability to record, process, summarize and report financial information; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 24.45pt">(b) Any fraud, whether or not material, that involves
management or other employees who have a significant role in the company&rsquo;s internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Date: July 7, 2017</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 86%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">/s/ Vittorio Notarpietro</P>
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<TR>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">Name:</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Vittorio Notarpietro</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">Title:</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Chief Financial Officer</TD></TR>
</TABLE><BR STYLE="clear: both">
<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 9pt 0 0">&nbsp;</P>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial Unicode MS; margin: 9pt 0 0">&nbsp;</P>


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<P STYLE="font: 12pt Arial Unicode MS; margin: 9pt 0 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 13.1 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>Certification </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section&nbsp;906 of the Sarbanes-Oxley
Act of 2002 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Subsections (a)&nbsp;and (b)&nbsp;of Section&nbsp;1350,
Chapter 63 of Title 18, United States Code) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">Pursuant to section 906 of the Sarbanes-Oxley
Act of 2002 (subsections (a)&nbsp;and (b)&nbsp;of section 1350, chapter 63 of title 18, United States Code), each of the undersigned
officers of Natuzzi S.p.A. (the &ldquo;Company&rdquo;), does hereby certify, to such officer&rsquo;s knowledge, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">The Amendment No. 1 to the annual report
on form 20-F for the year ended December&nbsp;31, 2015 (the &ldquo;Form 20-F&rdquo;) of the Company fully complies with the requirements
of section 13(a) or 15(d) of the Securities Exchange Act of 1934 and information contained in the Form 20-F fairly presents, in
all material respects, the financial condition and results of operations of the Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">Dated:&nbsp;July 7,&nbsp;2017</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif">/s/ Pasquale Natuzzi</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 0.1in; font: 12pt Arial Unicode MS">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Pasquale Natuzzi</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 0.1in; font: 12pt Arial Unicode MS">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Chief Executive Officer</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">Dated:&nbsp;July 7, 2017</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif">/s/ Vittorio Notarpietro</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 0.1in; font: 12pt Arial Unicode MS">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Vittorio Notarpietro</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 0.1in; font: 12pt Arial Unicode MS">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Chief Financial Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">A signed original of this written statement
required by Section&nbsp;906 has been provided to Natuzzi S.p.A. and will be retained by Natuzzi S.p.A. and furnished to the Securities
and Exchange Commission or its staff upon request.</P>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 9pt 0 0">&nbsp;</P>


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