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Share Capital, reserves and retained earnings (Tables)
 12 Months Ended
Dec. 31, 2020
Disclosure Of Share Capital Reserves And Retained Earnings [Abstract]  
Summary of Changes in Equity Interest

As at December 31, 2020, 2019 and 2018 the equity attributable to owners of the Company is analysed as follows:

 

 

 

31/12/20

 

 

31/12/19

 

 

31/12/18

 

Share capital

 

 

54,853

 

 

 

54,853

 

 

 

54,853

 

Reserves

 

 

13,043

 

 

 

17,147

 

 

 

17,198

 

Retained earnings

 

 

6,448

 

 

 

31,126

 

 

 

64,496

 

Total

 

 

74,344

 

 

 

103,126

 

 

 

136,547

 

 
Disclosure of Share Capital Owned

Share capital is owned, as at December 31, 2020, 2019 and 2018, as follows:

 

 

 

31/12/20

 

 

31/12/19

 

 

31/12/18

 

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:

 

 

31/12/20

 

 

31/12/19

 

 

31/12/18

 

Legal reserve

 

 

10,971

 

 

 

10,971

 

 

 

10,971

 

Majority shareholder capital contribution

 

 

488

 

 

 

488

 

 

 

488

 

Foreign operations translation reserve

 

 

1,954

 

 

 

5,846

 

 

 

5,282

 

Remeasurement of defined benefit plan

 

 

(370

)

 

 

(158

)

 

 

457

 

Total

 

 

13,043

 

 

 

17,147

 

 

 

17,198

 

 
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, 2020

 

 

 

Foreign

operations

translation

reserve

 

 

Remeasurement

of defined

benefit plan

 

 

Total

 

Exchange difference on translation of foreign operations

 

 

(3,575

)

 

 

—

 

 

 

(3,575

)

Share of OCI of equity-method investees

 

 

(373

)

 

 

—

 

 

 

(373

)

Actuarial gains on employees’ leaving entitlement

 

 

—

 

 

 

(212

)

 

 

(212

)

Total

 

 

(3,948

)

 

 

(212

)

 

 

(4,160

)

 

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

 

 
Disclosure of Net Debt to Equity Ratio

The Group’s net debt to equity ratio as at December 31, 2020 and 2019 is as follows:

 

 

 

31/12/20

 

 

31/12/19

 

Total liabilities

 

 

280,636

 

 

 

264,576

 

Less cash and cash equivalents

 

 

(48,187

)

 

 

(39,799

)

Net debt (a)

 

 

232,449

 

 

 

224,777

 

Total equity (b)

 

 

75,364

 

 

 

104,818

 

Net debt to equity ratio (a/b)

 

 

3.08

 

 

 

2.14