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Share Capital, reserves and retained earnings (Tables)
 12 Months Ended
Dec. 31, 2019
Text block [abstract]  
Summary of Changes in Equity Interest
As at December 31, 2019, 2018 and 2017 the equity attributable to owners of the Company is analysed as follows:
 
 
  
31/12/19
 
  
31/12/18
 
  
31/12/17
 
Share capital
  
 
54,853
 
  
 
54,853
 
  
 
54,853
 
Reserves
  
 
17,147
 
  
 
17,198
 
  
 
16,398
 
Retained earnings
  
 
31,126
 
  
 
64,496
 
  
 
31,244
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Total
  
 
103,126
 
  
 
136,547
 
  
 
102,495
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Disclosure of Share Capital Owned
Share capital is owned, as at December 31, 2019, 2018 and 2017, as follows:
 
 
  
31/12/19
 
 
31/12/18
 
 
31/12/17
 
Mr. Pasquale Natuzzi
  
 
56.5%
 
 
 
56.5%
 
 
 
56.5%
 
Mrs. Anna Maria Natuzzi
  
 
2.6%
 
 
 
2.6%
 
 
 
2.6%
 
Mrs. Annunziata Natuzzi
  
 
2.5%
 
 
 
2.5%
 
 
 
2.5%
 
Other investors
  
 
38.4%
 
 
 
38.4%
 
 
 
38.4%
 
 
  
 
 
 
 
 
 
 
 
 
 
 
Total
  
 
100.0
% 
 
 
100.0
% 
 
 
100.0
% 
 
  
 
 
 
 
 
 
 
 
 
 
 
Analysis of Share Capital Reserves
An analysis of “Reserves” is as follows:
 
 
  
31/12/19
 
  
31/12/18
 
  
31/12/17
 
Legal reserve
  
 
10,971
 
  
 
10,971
 
  
 
10,971
 
Majority shareholder capital contribution
  
 
488
 
  
 
488
 
  
 
488
 
Foreign operations translation reserve
  
 
5,846
 
  
 
5,282
 
  
 
5,055
 
Remeasurement of defined benefit plan
  
 
(158)
 
  
 
457
 
  
 
(116)
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Total
  
 
17,147
 
  
 
17,198
 
  
 
16,398
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Analysis of Share Capital Reserves
The disaggregation of changes of OCI by each type of reserve in equity is shown in the tables below.
Year ended December 31, 2019
 
 
  
Foreign operations
translation reserve
 
  
Remeasurement of
defined benefit plan
 
  
Total
 
Exchange difference on translation of foreign operations
  
 
475
 
  
 
—  
 
  
 
475
 
Share of OCI of equity-method investees
  
 
111
 
  
 
—  
 
  
 
111
 
Actuarial losses on employees’ leaving entitlement
  
 
—  
 
  
 
(615
) 
  
 
(615
) 
 
  
 
 
 
  
 
 
 
  
 
 
 
Total
  
 
586
 
  
 
(615
) 
  
 
(29
) 
 
  
 
 
 
  
 
 
 
  
 
 
 
Year ended December 31, 2018
 
 
  
Foreign operations
translation reserve
 
  
Remeasurement of
defined benefit plan
 
  
Total
 
Exchange difference on translation of foreign operations
  
 
497
 
  
 
—  
 
  
 
497
 
Share of OCI of equity-method investees
  
 
(246)
 
  
 
—  
 
  
 
(246)
 
Actuarial gains on employees’ leaving entitlement
  
 
—  
 
  
 
573
 
  
 
573
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Total
  
 
251
 
  
 
573
 
  
 
824
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
Year ended December 31, 2017
 
 
  
Foreign operations
translation reserve
 
  
Remeasurement of
defined benefit plan
 
  
Total
 
Exchange difference on translation of foreign operations
  
 
(7,778)
 
  
 
—  
 
  
 
(7,778)
 
Actuarial gains on employees’ leaving entitlement
  
 
—  
 
  
 
116
 
  
 
(116)
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Total
  
 
(7,778
) 
  
 
116
 
  
 
(7,894
) 
 
  
 
 
 
  
 
 
 
  
 
 
 
Disclosure Of Net Debt To Equity Ratio
The Group’s net debt to equity ratio as at December 31, 2019 and 2018 is as follows:
 
 
  
31/12/19
 
  
31/12/18
 
Total liabilities
  
 
264,576
 
  
 
234,527
 
Less cash and cash equivalents
  
 
(39,799
) 
  
 
(62,131
) 
 
  
 
 
 
  
 
 
 
Net debt (a)
  
 
224,777
 
  
 
172,396
 
Total equity (b)
  
 
104,818
 
  
 
138,181
 
Net debt to equity ratio (a/b)
  
 
2.14
 
  
 
1.25