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Share Capital, reserves and retained earnings (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Of Share Capital Reserves And Retained Earnings [Abstract]

Summary of Changes in Equity Interest

As at December 31, 2022, 2021 and 2020 the equity attributable to owners of the Company is analysed as follows:


		31/12/22				31/12/21				31/12/20
Share capital			55,073				54,853				54,853
Reserves			23,292				17,449				13,043
Retained earnings			9,493				10,033				6,448
Total			87,858				82,335				74,344

Disclosure of Share Capital Owned

Share capital is owned, as at December 31, 2022, 2021 and 2020, as follows:


		31/12/22				31/12/21				31/12/20
Mr. Pasquale Natuzzi			56.2	%			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			38.7	%			38.4	%			38.4	%
Total			100.0	%			100.0	%			100.0	%

Analysis of Share Capital Reserves

An analysis of “Reserves” is as follows:


		31/12/22				31/12/21				31/12/20
Legal reserve			10,971				10,971				10,971
Majority shareholder capital contribution			488				488				488
Shareholders: unpaid share capital			(165	)			—				—
Share premium reserve			175				—				—
Stock option reserve			824				—				—
Reserve for gain on disposal of Non-controlling interests			4,219				1,088				—
Foreign operations translation reserve			5,468				5,899				1,954
Remeasurement of defined benefit plan			1,312				(997	)			(370	)
Total			23,292				17,449				13,043

Summary of OCI Accumulated in Reserves, Net of Tax

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


		31/12/22				31/12/21				31/12/20
Foreign operation translation			5,468				5,899				1,954
Remeasurement of defined benefit plan			1,312				(997	)			(370	)
Owners of the Company			6,780				4,902				1,584
Non-controlling interests			144				(27	)			(119	)
Total OCI			6,924				4,875				1,465

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, 2022


		Foreign operations translation reserve				Remeasurement of defined benefit plan				Total
Exchange difference on translation of foreign operations			524				—				524
Share of OCI of equity-method investees			(784	)			—				(784	)
Actuarial gains/(losses) on employees’ leaving entitlement			—				2,309				2,309
Total			(260	)			2,309				2,049

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 gains/(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 gains/(losses) on employees’ leaving entitlement			—				(212	)			(212	)
Total			(3,948	)			(212	)			(4,160	)

Disclosure of Net Debt to Equity Ratio

The Group’s net debt to equity ratio as at December 31, 2022 and 2021 is as follows:


		31/12/22				31/12/21
Total liabilities			276,051				306,186
Less cash and cash equivalents			(54,475	)			(53,472	)
Net debt (a)			221,576				252,714
Total equity (b)			92,556				83,846
Net debt to equity ratio (a/b)			2.39				3.01