XML 108 R94.htm IDEA: XBRL DOCUMENT

Related parties (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure Of Related Parties [Abstract]

Schedule of Transactions with Related Parties

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


	2024		2023		2022
Directors’ fee		642		849		854
Short-term employee benefits		3,343		2,772		1,851
Social security contributions and defined contribution plans		913		777		685
Employee benefit obligations		254		188		125
Expenses for stock options		367		587		998
Total		5,519		5,173		4,513

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


	2024				2023				2022
	Cost		Amounts due		Cost		Amounts due		Cost		Amounts due
Finished products purchased from TTF		3,823		652		1,340		412		1,852		178
Purchase of agency services from the company REFLEX MARKETING		960		—		992		1		1,360		1
Total		4,783		652		2,332		413		3,212		179


	2024				2023				2022
	Income		Amounts owed		Income		Amounts owed		Income		Amounts owed
Selling of finished products to NAT STORE LTD		1,350		303		1,631		171		1,354		233
Selling of finished products to IN CASA GROUP PTY		1,741		593		1,735		732		2,401		654
Total		3,091		896		3,366		903		3,755		887

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, 2024


	Sales		Expenses		Dividends received		Amounts owed by related parties		Amounts due to related parties
Natuzzi Trading Shanghai Co, Ltd. (joint venture)		25,192		—		—		4,022		—
Natuzzi Texas LLC (joint venture)		1,251		—		—		3,515		—
Natuzzi Stores (UK) LTD (associate)		4,699		—		—		110		—
Natuzzi Design S.a.s. (other related party)		2,004		—		—		534		—
Natuzzi Arredamenti S.r.l. (other related party)		1,083		—		—		263		—
Natuzzi Sofa S.r.l. (other related party)		322		—		—		84		—
Total		34,551		—		—		8,528		—

December 31, 2023


	Sales		Expenses		Dividends received		Amounts owed by related parties		Amounts due to related parties
Natuzzi Trading Shanghai Co, Ltd. (joint venture)		26,523		—		—		4,198		—
Nars Miami LLC (associate)		167		431		—		103		75
Natuzzi Texas LLC (joint venture)		1,951		—		—		2,598		—
Natuzzi Stores (UK) LTD (associate)		5,876		—		—		44		—
Natuzzi Design S.a.s. (other related party)		2,130		—		—		724		—
Natuzzi Arredamenti S.r.l. (other related party)		1,619		—		—		243		—
Natuzzi Sofa S.r.l. (other related party)		385		—		—		56		—
Total		38,651		431		—		7,966		75

December 31, 2022


	Sales		Expenses		Dividends received		Amounts owed by related parties		Amounts due to related parties
Natuzzi Trading Shanghai Co, Ltd. (joint venture)		59,838		—		3,697		5,314		—
Nars Miami LLCC (associate)		1,484		16		—		231		59
Natuzzi Texas LLC (joint venture)		992		—		—		1,193		—
Natuzzi Stores (UK) LTD (associate)		7,110		—		—		14		—
Natuzzi Design S.a.s. (other related party)		2,550		—		—		426		—
Natuzzi Arredamenti S.r.l. (other related party)		1,734		26		—		231		—
Natuzzi Sofa S.r.l. (other related party)		399		—		—		48		—
Total		74,107		42		3,697		7,457		59