Brief: Natuzzi SpA Says Q4 Sales Fell 12.7% To 100.6 Mln Euros

Natuzzi SpA

23/05/2020 21:17

May 23 (Reuters) - Natuzzi SpA  NTZ.N :
    * Q4 OPERATING LOSS -3.0 MILLION EUR
    * Q4 SALES FELL 12.7 PERCENT TO 100.6 MILLION EUR
    * GROUP NOW DIRECTLY OPERATES 56 MONO-BRAND DOS
    * ON A LIKE-FOR LIKE BASIS, REVENUES OF 45 DOS WERE UP 4.2%
IN
2019, WHILE THEY DECREASED BY 1.0% IN Q4 OF 2019
    * NATUZZI- IN LIGHT OF TARIFFS IMPOSED BY U.S. ON GOODS
IMPORTED
FROM CHINA, CO STARTED TO OUTSOURCE IN VIETNAM PART OF ITS
PRIVATE LABEL PRODUCTION
    * Q4 2019 CONSOLIDATED GROSS MARGIN WAS 31.9%, UP FROM 27.4%
IN
2018 SAME QUARTER
    * GROUP REPORTED A QTRLY OPERATING LOSS OF EUR 3.0 MILLION,
VERSUS
AN OPERATING LOSS OF EUR 8.9 MILLION IN 2018 LAST QUARTER
    * LOSS FOR Q4 WAS EUR 6.9 MILLION
    * ONGOING PANDEMIC EXPERIENCE IS LIKELY TO LEAD TO AN
INCREASING
FOCUS ON OMNI-CHANNEL SALE APPROACH
    * QTRLY LOSS PER ORDINARY SHARE WAS 0.12 EURO

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Further company coverage:  NTZ.N 

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