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Related parties (Tables)
 12 Months Ended
Dec. 31, 2021
Disclosure Of Related Parties [Abstract]  
Schedule of Transactions with Related Parties

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

 

 

 

2021

 

 

2020

 

 

2019

 

Directors’ fee

 

 

511

 

 

 

412

 

 

 

400

 

Short-term employee benefits

 

 

1,934

 

 

 

2,026

 

 

 

1,704

 

Social security contributions and defined contribution plans

 

 

692

 

 

 

634

 

 

 

563

 

Employee benefit obligations

 

 

132

 

 

 

137

 

 

 

118

 

Total

 

 

3,269

 

 

 

3,209

 

 

 

2,785

 

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

 

 

 

2021

 

 

2020

 

 

2019

 

 

 

Cost

 

 

Amounts
due

 

 

Cost

 

 

Amounts
due

 

 

Cost

 

 

Amounts
due

 

Legal services

 

 

86

 

 

 

—

 

 

 

392

 

 

 

—

 

 

 

32

 

 

 

—

 

Consultancy fees for business strategy

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

133

 

 

 

—

 

Total

 

 

86

 

 

 

—

 

 

 

392

 

 

 

—

 

 

 

165

 

 

 

—

 

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, 2021

 

 

Sales

 

 

Expenses

 

 

Dividends
received

 

 

Amounts
owed by
related
parties

 

 

Amounts
due to
related
parties

 

Natuzzi Trading Shanghai Co, Ltd. (joint venture)

 

 

48,457

 

 

 

—

 

 

 

1,490

 

 

 

6,953

 

 

 

—

 

Nars Miami LLCC (associate)

 

 

806

 

 

 

—

 

 

 

254

 

 

 

123

 

 

 

—

 

Natuzzi Texas LLC (joint venture)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Natuzzi Stores (UK) LTD (associate)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Natuzzi Design S.a.s.

 

 

1,820

 

 

 

—

 

 

 

—

 

 

 

710

 

 

 

—

 

Natuzzi Arredamenti S.r.l.

 

 

989

 

 

 

—

 

 

 

—

 

 

 

191

 

 

 

—

 

Natuzzi Sofa S.r.l.

 

 

232

 

 

 

—

 

 

 

—

 

 

 

51

 

 

 

—

 

NA.FO. S.r.l.

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

 

52,304

 

 

 

—

 

 

 

1,744

 

 

 

8,028

 

 

 

—

 

 

December 31, 2020

 

 

 

Sales

 

 

Expenses

 

 

Dividends
received

 

 

Amounts
owed by
related
parties

 

 

Amounts
due to
related
parties

 

Natuzzi Trading Shanghai Co, Ltd. (joint venture)

 

 

38,401

 

 

 

9

 

 

 

2,335

 

 

 

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

 

 

 

2,335

 

 

 

7,202

 

 

 

—

 

 

December 31, 2019

 

 

 

Sales

 

 

Expenses

 

 

Dividends
received

 

 

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