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Related parties (Tables)
12 Months Ended
Dec. 31, 2020
Disclosure Of Related Parties [Abstract]  
Schedule of Transactions with Related Parties

The compensation of key management personnel of the Group is analysed as follows:

 

 

 

2020

 

 

2019

 

 

2018

 

Directors’ fee

 

 

412

 

 

 

400

 

 

 

387

 

Short-term employee benefits

 

 

2,026

 

 

 

1,704

 

 

 

1,875

 

Social security contributions and defined contribution plans

 

 

634

 

 

 

563

 

 

 

500

 

Employee benefit obligations

 

 

137

 

 

 

118

 

 

 

110

 

Total

 

 

3,209

 

 

 

2,785

 

 

 

2,872

 

The aggregate value of transactions and outstanding balances related to directors were as follows.

 

 

 

2020

 

 

2019

 

 

2018

 

 

 

Cost

 

 

Amounts

due

 

 

Cost

 

 

Amounts

due

 

 

Cost

 

 

Amounts

due

 

Legal services

 

 

392

 

 

 

 

 

 

32

 

 

 

 

 

 

 

 

 

 

Consultancy fees for business strategy

 

 

 

 

 

 

 

 

133

 

 

 

 

 

 

286

 

 

 

16

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

392

 

 

 

 

 

 

165

 

 

 

 

 

 

286

 

 

 

16

 

The following tables provide the total amount of transactions that have been entered into with such related parties for the relevant financial year. Such transactions have been conducted at arm’s length.

December 31, 2020

 

 

 

Sales

 

 

Expenses

 

 

Amounts

owed by

related

parties

 

 

Amounts

due to

related

parties

 

Natuzzi Trading Shanghai Co, Ltd. (joint venture)

 

 

38,401

 

 

 

9

 

 

 

5,961

 

 

 

 

Nars Miami LLCC (associate)

 

 

406

 

 

 

 

 

 

27

 

 

 

 

Natuzzi Design S.a.s.

 

 

1,734

 

 

 

 

 

 

888

 

 

 

 

Natuzzi Arredamenti S.r.l.

 

 

827

 

 

 

 

 

 

279

 

 

 

 

Natuzzi Sofa S.r.l.

 

 

238

 

 

 

 

 

 

47

 

 

 

 

NA.FO. S.r.l.

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

41,606

 

 

 

9

 

 

 

7,202

 

 

 

 

 

December 31, 2019

 

 

 

Sales

 

 

Expenses

 

 

Amounts

owed by

related

parties

 

 

Amounts

due to

related

parties

 

Natuzzi Trading Shanghai Co, Ltd. (joint venture)

 

 

36,442

 

 

 

124

 

 

 

3,619

 

 

 

124

 

Nars Miami LLCC (associate)

 

 

646

 

 

 

 

 

 

169

 

 

 

 

Natuzzi Design S.a.s.

 

 

1,686

 

 

 

 

 

 

1,013

 

 

 

 

Natuzzi Arredamenti S.r.l.

 

 

842

 

 

 

 

 

 

367

 

 

 

 

Natuzzi Sofa S.r.l.

 

 

249

 

 

 

 

 

 

67

 

 

 

 

Total

 

 

39,865

 

 

 

124

 

 

 

5,235

 

 

 

124

 

 

December 31, 2018

 

 

 

Sales

 

 

Expenses

 

 

Amounts

owed by

related

parties

 

 

Amounts

due to

related

parties

 

Natuzzi Trading Shanghai Co, Ltd. (joint venture)

 

 

12,589

 

 

 

1,001

 

 

 

7,383

 

 

 

1,001

 

Nars Miami LLCC (associate)

 

 

776

 

 

 

 

 

 

191

 

 

 

 

Natuzzi Design S.a.s.

 

 

1,750

 

 

 

 

 

 

1,338

 

 

 

 

Natuzzi Arredamenti S.r.l.

 

 

1,010

 

 

 

 

 

 

343

 

 

 

 

Natuzzi Sofa S.r.l.

 

 

291

 

 

 

 

 

 

78

 

 

 

 

NA.FO. S.r.l.

 

 

 

 

 

 

 

 

 

 

 

3

 

Total

 

 

16,416

 

 

 

1,001

 

 

 

9,333

 

 

 

1,004