XML 44 R34.htm IDEA: XBRL DOCUMENT
v3.19.1

Derivative financial instruments | 12 Months Ended
--- | ---
Dec. 31, 2018
Text block [abstract] |
Derivative financial instruments |
27 | Derivative financial instruments
A significant portion of the Group’s net sales and costs are denominated in currencies other than the euro, in particular the U.S. dollar. The remaining costs of the Group are denominated principally in euros. Consequently, a significant portion of the Group’s revenue is exposed to fluctuations in the exchange rates between the euro and other currencies. The Group uses forward exchange contracts (known in Italy as domestic currency swaps) to reduce its exposure to the risks of short-term declines in the value of its foreign currency denominated revenue. The Group uses such derivative instruments to protect the value of its foreign currency denominated revenue, and not for speculative or trading purposes. Despite being entered into such domestic currency swaps with the intent to reduce the foreign currency exposure risk for trade receivables and expected sales, the Group’s derivative financial instruments do not qualify for being accounted for as hedging instruments according to IAS 39 and, also, to former applicable Italian GAAP. Therefore, the Company reflects the positive or negative changes in the fair value of those derivatives through profit or loss in the captions “Net exchange rate gains (losses)”. The table below summarizes in euro equivalent the contractual amounts of forward exchange contracts used to hedge principally future cash flows from trade receivables and sale orders as at December 31, 2018, 2017 and January 1, 2017.
|  | 31/12/18 |  |  | 31/12/17 |  |  | 01/01/17 |
U.S. dollars |  |  | 14,528 |  |  |  | 21,979 |  |  |  | 26,670 |
Euro |  |  | 11,407 |  |  |  | 10,226 |  |  |  | 13,925 |
British pounds |  |  | 10,612 |  |  |  | 11,137 |  |  |  | 15,860 |
Japanese yen |  |  | 2,318 |  |  |  | 1,692 |  |  |  | 2,117 |
Australian dollars |  |  | 2,129 |  |  |  | 2,294 |  |  |  | 2,964 |
Canadian dollars |  |  | 1,300 |  |  |  | 1,338 |  |  |  | 4,965 |
Danish kroner |  |  | 1,086 |  |  |  | 713 |  |  |  | 618 |
Swedish kroner |  |  | 265 |  |  |  | 248 |  |  |  | 421 |
Total |  |  | 43,645 |  |  |  | 49,627 |  |  |  | 67,540 |
The following table presents information regarding the contract amount in euro equivalent amounts and the estimated fair value of all of the Group’s forward exchange contracts. Contracts with net unrealized gains are presented as ‘assets’ and contracts with net unrealized losses are presented as ‘liabilities’.
|  | 31/12/18 |  |  | 31/12/17 |  |  | 01/01/17 |
|  | Contract amount |  |  | Unrealised gains (losses) |  |  | Contract amount |  |  | Unrealised gains (losses) |  |  | Contract amount |  |  | Unrealised gains (losses) |
Assets |  |  | 27,459 |  |  |  | 218 |  |  |  | 31,089 |  |  |  | 339 |  |  |  | 25,698 |  |  |  | 223 |
Liabilities |  |  | 16,186 |  |  |  | (320 | ) |  |  | 18,538 |  |  |  | (267 | ) |  |  | 41,842 |  |  |  | (1,293 | )
Total |  |  | 43,645 |  |  |  | (102 | ) |  |  | 49,627 |  |  |  | 72 |  |  |  | 67,540 |  |  |  | (1,070 | )
At December 31, 2018 and 2017, the exchange derivative instruments contracts had a net unrealized expense of 102 and a net unrealized gain of 72, respectively. These amounts are recorded in net exchange rate gains (losses), in the consolidated statements of profit or loss (see note 35).

X
- Definition The disclosure of derivative financial instruments. [Refer: Derivatives [member]] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2018-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2018-03-01&anchor=para_10_e&doctype=Standard -URIDate 2018-03-16 + Details
Name: | ifrs-full_DisclosureOfDerivativeFinancialInstrumentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Text block [abstract] + References No definition available. + Details
Name: | ntz_TextBlockAbstract
Namespace Prefix: | ntz_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration