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Share Capital, reserves and retained earnings (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure Of Share Capital Reserves And Retained Earnings [Abstract]

Summary of Changes in Equity Interest

As at December 31, 2021, 2020 and 2019 the equity attributable to owners of the Company is analysed as follows:


		31/12/21				31/12/20				31/12/19
Share capital			54,853				54,853				54,853
Reserves			17,449				13,043				17,147
Retained earnings			10,033				6,448				31,126
Total			82,335				74,344				103,126

Disclosure of Share Capital Owned

Share capital is owned, as at December 31, 2021, 2020 and 2019, as follows:


		31/12/21				31/12/20				31/12/19
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:


		31/12/21				31/12/20				31/12/19
Legal reserve			10,971				10,971				10,971
Majority shareholder capital contribution			488				488				488
Reserve for gain on disposal of Non-controlling interests			1,088				—				—
Foreign operations translation reserve			5,899				1,954				5,846
Remeasurement of defined benefit plan			(997	)			(370	)			(158	)
Total			17,449				13,043				17,147

Summary of OCI Accumulated in Reserves, Net of Tax

OCI accumulated in reserves, net of tax, is reported in the following tables.


		31/12/21				31/12/20				31/12/19
Foreign operation translation			5,899				1,954				5,846
Remeasurement of defined benefit plan			(997	)			(370	)			(158	)
Owners of the Company			4,902				1,584				5,688
Non-controlling interests			(27	)			(119	)			(63	)
Total OCI			4,875				1,465				5,625

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, 2021


		Foreign operations translation reserve				Remeasurement of defined benefit plan				Total
Exchange difference on translation of foreign operations			1,709				—				1,709
Share of OCI of equity-method investees			2,328				—				2,328
Actuarial losses on employees’ leaving entitlement			—				(627	)			(627	)
Total			4,037				(627	)			3,410

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 losses 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	)

Disclosure of Net Debt to Equity Ratio

The Group’s net debt to equity ratio as at December 31, 2021 and 2020 is as follows:


		31/12/21				31/12/20
Total liabilities			306,186				280,636
Less cash and cash equivalents			(53,472	)			(48,187	)
Net debt (a)			252,714				232,449
Total equity (b)			83,846				75,364
Net debt to equity ratio (a/b)			3.01				3.08