Description of the business and Group composition (Tables)

12 Months Ended

Dec. 31, 2019

Investments accounted for using equity method [abstract]

Summary of Subsidiaries Included in Consolidation Together with Related Percentages of Ownership and Other Information

The subsidiaries included in the consolidation as at December 31, 2019 and 2018, together with the related percentages of ownership and other information, are as follows:


Name	Percentage of 31/12/2019		Percentage of 31/12/2018		Share/ quota capital		Ownership registered office	Activity
Italsofa Romania S.r.l.		100.00		100.00		RON 109,271,750	Baia Mare, Romania		(1	)
Natuzzi (China) Ltd		100.00		100.00		CNY 106,414,300	Shanghai, China		(1	)
Italsofa Nordeste S/A		100.00		100.00		BRL 157,654,283	Salvador de Bahia, Brazil		(1	)
Natco S.p.A.		99.99		99.99		EUR 4,420,000	Santeramo in Colle, Italy		(2	)
I.M.P.E. S.p.A.		100.00		100.00		EUR 1,000,000	Bari, Italy		(3	)
Nacon S.p.A.		100.00		100.00		EUR 2,800,000	Santeramo in Colle, Italy		(4	)
Lagene S.r.l.		100.00		100.00		EUR 10,000	Santeramo in Colle, Italy		(4	)
Natuzzi Americas Inc.		100.00		100.00		USD 89	High Point, N. Carolina, USA		(4	)
Natuzzi Iberica S.A.		100.00		100.00		EUR 386,255	Madrid, Spain		(4	)
Natuzzi Switzerland AG		100.00		100.00		CHF 2,000,000	Dietikon, Switzerland		(4	)
Natuzzi Germany Gmbh		100.00		100.00		EUR 25,000	Köln, Germany		(4	)
Natuzzi Japan KK		100.00		100.00		JPY 28,000,000	Tokyo, Japan		(4	)
Natuzzi Services Limited		100.00		100.00		GBP 25,349,353	London, UK		(4	)
Natuzzi UK Retail Limited		70.00		—		GBP 100	Cardiff (UK)		(4	)
Natuzzi Russia OOO		100.00		100.00		RUB 8,700,000	Moscow, Russia		(4	)
Natuzzi India Furniture PVT Ltd		100.00		100.00		INR 16,200,000	New Delhi, India		(4	)
Natuzzi Florida LLC		51.00		51.00		USD 4,955,186	High Point, N. Carolina, USA		(4	)
Natmex S.DE.R.L.DE.C.V		99.00		99.00		MXN 69,195,993	Mexico City, Mexico		(4	)
Natuzzi France S.a.s.		100.00		100.00		EUR 200,100	Paris, France		(4	)
Softaly (Furniture) Shanghai Co. Ltd		96.50		96.50		CNY 100,000	Shanghai, China		(4	)
Natuzzi Oceania PTI Ltd		100.00		100.00		AUD 320,002	Sydney, Australia		(4	)
Natuzzi Netherlands Holding		100.00		100.00		EUR 34,605,000	Amsterdam, Holland		(5	)
New Comfort S.r.l.		—		100.00		EUR 20,000	Santeramo in Colle, Italy		(6	)
Italsofa Shanghai Ltd		96.50		96.50		CNY 124,154,580	Shanghai, China		(6	)
Natuzzi Trade Service S.r.l.		100.00		100.00		EUR 14,000,000	Santeramo in Colle, Italy		(6	)

(1)	Manufacture and distribution

(2)	Intragroup leather dyeing and finishing

(3)	Production and distribution of polyurethane foam

(4)	Services and distribution

(5)	Investment holding

(6)

Dormant

Summary of detailed information about material non-controlling interests

The following table summarises the information relating to the only material

non-controlling

interests related to the Group’s subsidiary Natuzzi Florida LLC, before any intra-group eliminations.

Summarized statement of financial position of Natuzzi Florida LLC and

Non-controlling

interests share in equity as at December 31, 2019 and 2018


	31/12/19			31/12/18
Current assets		2,870			3,890
Non-current assets		10,479			1,713
Current liabilities		(4,186	)		(4,033	)
Non-current liabilities		(7,267	)		—

Net assets		1,896			1,570
Net assets attributable to NCI – 49%		929			769

Summarized statement of profit or loss of Natuzzi Florida LLC and

Non-controlling

interests share of loss for the year ended December 31, 2019 and 2018


	2019			2018
Revenue		10,163			8,201
Expenses		(10,581	)		(8,540	)

Loss for the year		(418	)		(339	)
Other comprehensive income		37			57

Total comprehensive loss for the year		(381	)		(282	)
Loss allocated to NCI – 49%		(205	)		(166	)
OCI allocated to NCI		18			28
Cash flow provided by operating activities		1,530			179
Cash flow used in investing activities		(1,188	)		(543	)
Cash flow used in financing activities (dividends to NCI: nil)		(603	)		—