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Revenue (Tables)
12 Months Ended
Dec. 31, 2021
Revenue [Abstract]  
Disaggregation of Revenue from Contracts with Customers

In the following tables, revenue from contracts with customers are disaggregated by types of goods, primary geographical markets, geographical location of customers, distribution channels, brands and timing of revenue recognition.

 

Types of goods

 

2021

 

 

2020

 

 

2019

 

Sale of upholstery furniture

 

 

373,936

 

 

 

280,210

 

 

 

329,162

 

Sale of home furnishing accessories

 

 

39,803

 

 

 

33,325

 

 

 

39,623

 

Sale of polyurethane foam

 

 

7,660

 

 

 

6,848

 

 

 

9,665

 

Sale of other goods

 

 

5,976

 

 

 

7,960

 

 

 

8,512

 

Total

 

 

427,375

 

 

 

328,343

 

 

 

386,962

 

 

The sale of upholstery furniture includes the following categories: stationary furniture (sofas, loveseats and armchairs), sectional furniture, motion furniture, sofa beds and occasional chairs, including recliners and massage chairs.

 

Geographical markets

 

2021

 

 

2020

 

 

2019

 

Europe, Middle East and Africa

 

 

197,584

 

 

 

165,025

 

 

 

183,794

 

Americas

 

 

157,373

 

 

 

99,383

 

 

 

137,665

 

Asia-Pacific

 

 

72,418

 

 

 

63,935

 

 

 

65,503

 

Total

 

 

427,375

 

 

 

328,343

 

 

 

386,962

 

 

Geographical location of customers

 

2021

 

 

2020

 

 

2019

 

United States of America

 

 

117,012

 

 

 

73,676

 

 

 

97,723

 

Italy

 

 

53,157

 

 

 

46,269

 

 

 

48,557

 

China

 

 

48,857

 

 

 

38,339

 

 

 

39,258

 

United Kingdom

 

 

45,864

 

 

 

36,463

 

 

 

39,416

 

Spain

 

 

15,864

 

 

 

13,039

 

 

 

14,846

 

Brazil

 

 

14,166

 

 

 

8,641

 

 

 

12,120

 

Canada

 

 

13,127

 

 

 

9,233

 

 

 

18,355

 

Belgium

 

 

9,250

 

 

 

7,281

 

 

 

7,809

 

South Korea

 

 

7,574

 

 

 

7,151

 

 

 

5,626

 

Mexico

 

 

7,509

 

 

 

4,829

 

 

 

6,117

 

Australia

 

 

6,335

 

 

 

6,867

 

 

 

8,668

 

Switzerland

 

 

5,280

 

 

 

3,783

 

 

 

5,643

 

Israel

 

 

5,236

 

 

 

3,997

 

 

 

4,022

 

Japan

 

 

3,993

 

 

 

5,320

 

 

 

4,829

 

France

 

 

3,856

 

 

 

5,975

 

 

 

8,493

 

Other countries (none greater than 5%)

 

 

70,295

 

 

 

57,480

 

 

 

65,480

 

Total

 

 

427,375

 

 

 

328,343

 

 

 

386,962

 

 

Distribution channels

 

2021

 

 

2020

 

 

2019

 

Wholesale (distributors and retailers)

 

 

359,021

 

 

 

274,070

 

 

 

320,263

 

Directly operated stores (end consumers)

 

 

68,354

 

 

 

54,273

 

 

 

66,699

 

Total

 

 

427,375

 

 

 

328,343

 

 

 

386,962

 

 

 

Brands

 

2021

 

 

2020

 

 

2019

 

Natuzzi Editions

 

 

203,849

 

 

 

152,452

 

 

 

160,136

 

Natuzzi Italia

 

 

156,977

 

 

 

115,155

 

 

 

135,500

 

Private label

 

 

52,922

 

 

 

45,928

 

 

 

73,149

 

Other

 

 

13,627

 

 

 

14,808

 

 

 

18,177

 

Total

 

 

427,375

 

 

 

328,343

 

 

 

386,962

 

 

Timing of revenue recognition

 

2021

 

 

2020

 

 

2019

 

Goods transferred at a point in time

 

 

426,200

 

 

 

326,705

 

 

 

385,510

 

Goods and services transferred over time

 

 

1,175

 

 

 

1,638

 

 

 

1,452

 

Total

 

 

427,375

 

 

 

328,343

 

 

 

386,962

 

Disclosure Of Information About Receivables And Contract Liabilities From Contracts With Customers Explanatory

The following table provides information about receivables and contract liabilities from contracts with customers.

 

 

 

31/12/21

 

 

31/12/20

 

 

Trade receivables

 

 

41,259

 

 

 

33,934

 

 

Trade receivables included in “assets held for sale”

 

 

 

 

 

1,304

 

 

Contract liabilities

 

 

28,202

 

 

 

24,183

 

 

Summary of Transaction Price Allocated to Remaining Performance Obligations

The transaction price allocated to the remaining performance obligations (partially unsatisfied) as at December 31, 2021 and 2020 is as follows:

 

 

 

31/12/21

 

 

31/12/20

 

 

Sale of the license for Natuzzi trademarks

 

 

 

 

 

 

 

Within a year

 

 

383

 

 

 

383

 

 

More than a year

 

 

5,960

 

 

 

6,343

 

 

Total

 

 

6,343

 

 

 

6,726

 

 

Sale of Natuzzi Display System

 

 

 

 

 

 

 

Within a year

 

 

1,009

 

 

 

1,183

 

 

More than a year

 

 

1,169

 

 

 

1,430

 

 

Total

 

 

2,178

 

 

 

2,613

 

 

Sale of Service-Type Warranties

 

 

 

 

 

 

 

Within a year

 

 

199

 

 

 

266

 

 

More than a year

 

 

276

 

 

 

260

 

 

Total

 

 

475

 

 

 

526