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Description of the business and Group composition | 12 Months Ended
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Dec. 31, 2024
Investments accounted for using equity method [abstract] |
Description of the business and Group composition | 2. Description of the business and Group composition Natuzzi S.p.A. (“Natuzzi”, the “Company” or the “Parent”) is domiciled in Italy. The Company’s registered office is at via Iazzitello 47, 70029 Santeramo in Colle (Bari, Italy). These consolidated financial statements include the accounts of Natuzzi S.p.A. and of its subsidiaries (together with the Company, the “Group”). The Group’s primary activity is the design, manufacture and marketing of leather and fabric upholstered furniture (see note 6 on operating segment). During 2024, 2023 and 2022 no significant non-recurring events or unusual transactions have occurred. All transactions performed by the Group during 2024, 2023 and 2022 are part of the Group’s ordinary business. The consolidated financial statements of the Group as at December 31, 2024 have been approved by the Company’s Board of Directors (the Board) on April 17, 2025 and authorised on April 30, 2025. The subsidiaries included in the consolidation as at December 31, 2024, 2023 and 2022, together with the related percentages of ownership and other information, are as follows:
Name | Percentage as at 31/12/2024 |  | Percentage as at 31/12/2023 |  | Percentage as at 31/12/2022 |  | Share/ quota capital |  | Ownership registered office |  | Activity
Italsofa Romania S.r.l. |  | 100.00 |  |  | 100.00 |  |  | 100.00 |  | RON 109,271,750 |  | Baia Mare, Romania |  | (1)
Natuzzi (China) Ltd |  | 100.00 |  |  | 100.00 |  |  | 100.00 |  | CNY 106,414,300 |  | Shanghai, China |  | (1)
Italsofa Nordeste S/A |  | 100.00 |  |  | 100.00 |  |  | 100.00 |  | BRL 159,300,558 |  | Salvador de Bahia, Brazil |  | (1)
Natuzzi Quanjiao Limited |  | 100.00 |  |  | 100.00 |  |  | 100.00 |  | CNY 10,000,000 |  | Quanjiao County-Anhui province, China |  | (1)
Natco S.p.A. |  | 99.99 |  |  | 99.99 |  |  | 99.99 |  | EUR 4,420,000 |  | Santeramo in Colle, Italy |  | (2)
Nacon S.p.A. |  | 100.00 |  |  | 100.00 |  |  | 100.00 |  | EUR 2,800,000 |  | Santeramo in Colle, Italy |  | (3)
Lagene S.r.l. |  | 100.00 |  |  | 100.00 |  |  | 100.00 |  | EUR 10,000 |  | Santeramo in Colle, Italy |  | (3)
Natuzzi Americas Inc. |  | 100.00 |  |  | 100.00 |  |  | 100.00 |  | USD 89 |  | High Point, N. Carolina, USA |  | (3)
Natuzzi Florida LLC |  | 51.00 |  |  | 51.00 |  |  | 51.00 |  | USD 4,955,186 |  | High Point, N. Carolina, USA |  | (3)
Natuzzi Iberica S.A. |  | 100.00 |  |  | 100.00 |  |  | 100.00 |  | EUR 386,255 |  | Madrid, Spain |  | (3)
Natuzzi Switzerland AG |  | 100.00 |  |  | 100.00 |  |  | 100.00 |  | CHF 2,000,000 |  | Dietikon, Switzerland |  | (3)
Natuzzi Services Limited |  | 100.00 |  |  | 100.00 |  |  | 100.00 |  | GBP 25,349,353 |  | London, UK |  | (3)
Natuzzi UK Retail Limited |  | 70.00 |  |  | 70.00 |  |  | 70.00 |  | GBP 100 |  | Cardiff, UK |  | (3)
Natuzzi Germany Gmbh |  | 100.00 |  |  | 100.00 |  |  | 100.00 |  | EUR 25,000 |  | Köln, Germany |  | (3)
Natuzzi Japan KK |  | 74.40 |  |  | 74.40 |  |  | 74.40 |  | JPY 28,000,000 |  | Tokyo, Japan |  | (3)
Natuzzi Russia OOO |  | 100.00 |  |  | 100.00 |  |  | 100.00 |  | RUB 8,700,000 |  | Moscow, Russia |  | (3)
Natmx S.DE.R.L.DE.C.V |  | 100.00 |  |  | 100.00 |  |  | 100.00 |  | MXN 68,504,040 |  | Mexico City, Mexico |  | (3)
Natuzzi France S.a.s. |  | 100.00 |  |  | 100.00 |  |  | 100.00 |  | EUR 70,727 |  | Paris, France |  | (3)
Natuzzi Oceania PTI Ltd |  | 74.40 |  |  | 74.40 |  |  | 74.40 |  | AUD 320,002 |  | Sydney, Australia |  | (3)
Natuzzi Singapore PTE. LTD. |  | 74.40 |  |  | 74.40 |  |  | 74.40 |  | USD 7,654,207 |  | Singapore, Republic of Singapore |  | (3)
Natuzzi Shanghai Co. Ltd |  | 100.00 |  |  | — |  |  | — |  | CNY 500,000 |  | Shanghai, China |  | (3)
Natuzzi Netherlands Holding |  | 100.00 |  |  | 100.00 |  |  | 100.00 |  | EUR 34,605,000 |  | Amsterdam, Holland |  | (4)
Natuzzi Trade Service S.r.l. |  | 100.00 |  |  | 100.00 |  |  | 100.00 |  | EUR 14,000,000 |  | Santeramo in Colle, Italy |  | (5)
(1) Manufacture and distribution (2) Intragroup leather dyeing and finishing (3) Services and distribution (4) Investment holding (5) Dormant During 2024, the consolidation area changed due to the establishment in August 2024 of Natuzzi Shanghai Co. Ltd, a subsidiary of Natuzzi (China) Ltd. The new entity provides administrative services to Asian commercial and manufacturing subsidiaries of the Group. No business combinations occurred in 2024, 2023 and 2022. The following table summarises the information related to the only material non-controlling interests (NCI) of the Group’s subsidiary Natuzzi Florida LLC, before any intra-group eliminations. Summarised statement of financial position of Natuzzi Florida LLC and Non-controlling interests share in equity as at December 31, 2024 and 2023.
|  | 31/12/24 |  |  | 31/12/23 |
Current assets |  |  | 11,496 |  |  |  | 9,524 |
Non-current assets |  |  | 12,833 |  |  |  | 13,589 |
Current liabilities |  |  | (12,738 | ) |  |  | (10,469 | )
Non-current liabilities |  |  | (7,822 | ) |  |  | (8,797 | )
Net assets |  |  | 3,769 |  |  |  | 3,847 |
Net assets attributable to NCI – 49% |  |  | 1,847 |  |  |  | 1,885 |
Summarised statement of profit or loss of Natuzzi Florida LLC and Non-controlling interests share of loss for the years ended December 31, 2024, 2023 and 2022.
|  | 2024 |  |  | 2023 |  |  | 2022 |
Revenue |  |  | 20,487 |  |  |  | 18,643 |  |  |  | 21,481 |
Expenses |  |  | (20,525 | ) |  |  | (19,540 | ) |  |  | (18,488 | )
Profit/(loss) for the year |  |  | (38 | ) |  |  | (897 | ) |  |  | 2,993 |
Other comprehensive income/(loss) |  |  | 240 |  |  |  | (219 | ) |  |  | 195 |
Total comprehensive income/(loss) for the year |  |  | 202 |  |  |  | (1,116 | ) |  |  | 3,188 |
Profit/(loss) allocated to NCI – 49% |  |  | (19 | ) |  |  | (440 | ) |  |  | 1,467 |
Other comprehensive income/(loss) allocated to NCI |  |  | 118 |  |  |  | (107 | ) |  |  | 96 |
Cash flow provided by operating activities |  |  | 2,122 |  |  |  | 2,463 |  |  |  | 1,464 |
Cash flow used in investing activities |  |  | (87 | ) |  |  | (1,122 | ) |  |  | (599 | )
Cash flow used in financing activities (dividends to NCI for years ended December 31, 2024, 2023 and 2022, respectively 149, 698 and 589) |  |  | (2,324 | ) |  |  | (2,401 | ) |  |  | (1,892 | )

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