XML 75 R61.htm IDEA: XBRL DOCUMENT v3.25.1

Equity-method investees (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure Of Equity Method Investees [Abstract]

Summary of Changes in Carrying Amount of Equity-method investees

Changes in the carrying amount of equity-method investees for the years ended December 31, 2024 and 2023 are analysed as follows.

		Natuzzi Trading  Shanghai				Nars Miami LLC				Natuzzi Texas LLC				Natuzzi Store (UK) ltd				Foundation "Made in Italy circolare e sostenibile"				Salena S.r.l.				Total
Balance as at December 31, 2022			37,029				431				176				52				8				—				37,696
Acquisition of non-controlling interests			—				—				—				—				—				—				—
Share of profit for the year			2,873				197				(688	)			515				—				—				2,897
Loss allowance			—				—				502				—				—				—				502
Share of other comprehensive income			(1,257	)			—				—				—				—				—				(1,257	)
Dividends received			—				—				—				—				—				—				—
Share capital reduction			—				—				—				—				—				—				—
Effect of translation adjustments			—				(19	)			10				2				—				—				(7	)
Balance as at December 31, 2023			38,645				609				—				569				8				—				39,831
Acquisition of non-controlling interests			—				—				—				—				—				—				—
Share of profit for the year			988				(4	)			(548	)			(47	)			—				—				389
Loss allowance			—				—				602				—				—				—				602
Share of other comprehensive income			686				—				—				—				—				—				686
Dividends received/(distributed)			—				(77	)			—				—				—				—				(77	)
Liquidation			—				(520	)			—				—				—				—				(520	)
Share capital reduction			—				—				—				—				—				—				—
Effect of translation adjustments			—				(8	)			(54	)			26				—				—				(36	)
Balance as at December 31, 2024			40,319				—				—				548				8				—				40,875

Summary of Reconciliation of Fair Value of Retained Interest at the date of loss of control with carrying amount in Consolidated Statement of Financial Position

The following table shows the reconciliation of the carrying amount of the retained interest in Natuzzi Trading Shanghai as at December 31, 2022 with the carrying amount as at December 31, 2023 included in the consolidated statement of financial position.

Carrying amount as at December 31, 2022							37,029
Dividends distribution							—
Share capital reduction							—
Group’s share of profit for the year			751
Elimination of amortisation of Natuzzi’s trademarks			367
Elimination of intercompany profit on inventories			2,144
Amortisation of intangibles assets			(519	)
Reversal of deferred tax liabilities			130
Group’s share of profit for the year, net of equity method adjustments			2,873				2,873
Group’s share of other comprehensive income							(1,257	)
Carrying amount as at December 31, 2023							38,645

The following table shows the reconciliation of the carrying amount of the retained interest in Natuzzi Trading Shanghai as at December 31, 2023 with the carrying amount as at December 31, 2024 included in the consolidated statement of financial position.

Carrying amount as at December 31, 2023							38,645
Dividends distribution							—
Share capital reduction							—
Group’s share of profit for the year			292
Elimination of amortisation of Natuzzi’s trademarks			368
Elimination of intercompany profit on inventories			717
Amortisation of intangibles assets			(519	)
Reversal of deferred tax liabilities			130
Group’s share of profit for the year, net of equity method adjustments			988				988
Group’s share of other comprehensive income							686
Carrying amount as at December 31, 2024							40,319

Summarized Statement of Financial Position and Profit or Loss of Joint Venture

Summarised statement of financial position of Natuzzi Trading Shanghai and Group’s share in net assets as at December 31, 2024 and 2023

		31/12/24				31/12/23
Current assets			52,951				54,190
Non-current assets			16,954				16,681
Current liabilities			(25,753	)			(28,413	)
Non-current liabilities			(2,885	)			(3,222	)
Net Assets			41,267				39,236
Group’s share in net assets – 49% of net assets			20,221				19,226
Intangible assets			1,272				1,796
Goodwill			26,140				26,140
Elimination of intercompany profit from licensing Natuzzi’s trademarks			(4,994	)			(5,357	)
Elimination of intercompany profit on inventories			(1,999	)			(2,712	)
Deferred tax liabilities			(321	)			(448	)
Group’s carrying amount of interest			40,319				38,645

Summarised statement of profit or loss of Natuzzi Trading Shanghai and Group’s share of profit for the year ended December 31, 2023, 2022 and 2021.

		2024				2023				2022
Revenue			57,222				69,939				98,483
Cost of sales			(33,492	)			(39,823	)			(60,481	)
Other income and expenses, net			(7	)			(747	)			(91	)
Selling expenses			(19,036	)			(24,297	)			(24,473	)
Administrative expenses			(2,775	)			(3,332	)			(5,665	)
Impairment on trade receivables			(520	)			—				—
Net finance income			78				315				1,037
Profit before tax			1,470				2,055				8,810
Income tax expense			(874	)			(522	)			(2,646	)
Profit for the period			596				1,533				6,164
Other comprehensive profit/(loss)			1,400				(2,565	)			(1,600	)
Total comprehensive profit for the period			1,996				(1,032	)			4,564
Group’s share of profit for the period – 49%			292				751				3,020
Elimination of amortisation of Natuzzi’s trademarks			368				367				367
Elimination of intercompany profit on inventories			717				2,144				(2,562	)
Amortisation of intangible assets			(519	)			(519	)			(519	)
Deferred tax liabilities			130				130				130
Group’s share of profit/(loss), net of equity method adj.			988				2,873				436
Group’s share of other comprehensive income/(loss) for the period			686				(1,257	)			(784	)
Group’s share of total comprehensive income/(loss) for the period			1,674				1,616				(348	)
Dividends received by the Group			—				—				3,697

Schedule of Cash and Cash Equivalents, Bank Overdrafts and Borrowings

As at December 31, 2024 and 2023 cash and cash equivalents, bank overdrafts and borrowings, lease liabilities current and non-current are set out below.

		31/12/24				31/12/23
Cash and cash equivalents			33,230				31,706
Lease liabilities current			(2,885	)			(1,570	)
Lease liabilities non-current			(767	)			(3,222	)
Total, net			29,578				26,914

Depreciation and Amortization, Interest Income, Interest Expense and Income Tax Expense

For the years ended December 31, 2024, 2023 and 2022, depreciation and amortisation, interest income, interest expense and income tax expense are set below.

		2024				2023				2022
Depreciation and amortisation			4,153				5,571				1,945
Interest income			263				557				1,729
Interest expense			354				242				692
Income tax expense			874				522				2,646

X

- Definition

The disclosure of the reconciliation of the summarised financial information of a joint venture accounted for using the equity method to the carrying amount of the reporting entity's interest in the joint venture. [Refer: Carrying amount [member]; Total for all joint ventures [member]]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2024-01-01
-Paragraph B14
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2024-en-r&anchor=para_B14_b&doctype=Appendix&subtype=B
-URIDate 2024-03-27

+ Details

Name:	ifrs-full_DisclosureOfReconciliationOfSummarisedFinancialInformationOfJointVentureAccountedForUsingEquityMethodToCarryingAmountOfInterestInJointVentureExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	dtr-2022:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Depreciation and amortization, interest income, interest expense and income tax expense explanatory.

+ References

No definition available.

+ Details

Name:	ntz_DepreciationAndAmortizationInterestIncomeInterestExpenseAndIncomeTaxExpenseExplanatory
Namespace Prefix:	ntz_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of cash and cash equivalents (Table).

+ References

No definition available.

+ Details

Name:	ntz_DisclosureOfCashAndCashEquivalentsTableTextBlock
Namespace Prefix:	ntz_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of detailed information about interests in joint ventures.

+ References

No definition available.

+ Details

Name:	ntz_DisclosureOfDetailedInformationAboutInterestsInJointVenturesExplanatory
Namespace Prefix:	ntz_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure Of Equity Method Investees Abstract

+ References

No definition available.

+ Details

Name:	ntz_DisclosureOfEquityMethodInvesteesAbstract
Namespace Prefix:	ntz_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of reconciliation in carrying amount of equity method investees.

+ References

No definition available.

+ Details

Name:	ntz_DisclosureOfReconciliationInCarryingAmountOfEquityMethodInvesteesExplanatory
Namespace Prefix:	ntz_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration