NATUZZI S.P.A.

(NTZ)
Delayed Nyse  -  04:00 2022-07-01 pm EDT
7.950 USD   +5.72%
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Annual General Shareholders' Meeting of Natuzzi S.p.A.

05/16/2022 | 04:17pm EDT

- APPROVED 2021 FINANCIAL STATEMENTS
- APPOINTED THE COMPANY’S BOARD OF STATUTORY AUDITORS AND EXTERNAL AUDITORS, BOTH FOR THE THREE-YEAR PERIOD 2022-2024
- APPOINTED A NEW MEMBER OF THE BOARD OF DIRECTORS

Natuzzi S.p.A. (NYSE: NTZ) (“Natuzzi” or the “Company” and, together with its subsidiaries, the “Natuzzi Group”) announced today that it held, on first call, its annual general shareholders’ meeting on May 12, 2022 (the “Annual General Meeting”).

At the Annual General Meeting, the shareholders approved the Company’s stand-alone financial statements for the fiscal year ended December 31, 2021 and acknowledged the approval of the 2021 consolidated financial statements of the Natuzzi Group by the Company’s Board of Directors at a meeting held on April 7, 2022. As previously announced, the Group reported for the 2021 fiscal year consolidated total net sales of €427.4 million, versus €328.3 million in the previous year, and a net profit of €4.4 million for 2021 as compared to a net loss of €24.9 million for 2020.

At the Annual General Meeting, the shareholders appointed the following individuals to the board of statutory auditors for fiscal years 2022, 2023 and 2024: Mr. Giuseppe Pio Macario as chairman of the board, Mr. Francesco Campobasso and Mr. Andrea Venturelli as members of the board, and Mr. Aurelio Franco Colasanto and Mr. Vito Passalacqua as alternates.

In addition, at the Annual General Meeting the shareholders appointed KPMG as the Company’s principal independent registered public auditor for fiscal years 2022, 2023 and 2024.

During the same Annual General Meeting, the Company’s shareholders appointed a new Non-Executive Director, Mr. Gilles Bonan, formerly CEO and Chairman of the Executive Board of Roche Bobois SA until July 2019 and currently a consultant in strategy for lifestyle companies and private equity funds in France, Italy and Switzerland. Mr. Bonan’s term will expire simultaneously with the terms of office of the remaining directors, who were elected at the Company’s annual general shareholders’ meeting held on May 7, 2021, for a three-year period.

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About Natuzzi S.p.A.

Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. (“Natuzzi” and, together with its subsidiaries, the “Group”) is one of the most renowned brands in the production and distribution of design and luxury furniture. With a global retail network of 651 mono-brand stores and 563 galleries as of December 31, 2021, Natuzzi distributes its collections worldwide. Natuzzi products embed the finest spirit of Italian design and the unique craftmanship details of the “Made in Italy”, where a predominant part of its production takes place. Natuzzi has been listed on the New York Stock Exchange since May 13, 1993. Always committed to social responsibility and environmental sustainability, Natuzzi S.p.A. is ISO 9001 and 14001 certified (Quality and Environment), ISO 45001 certified (Safety on the Workplace) and FSC® certified (Forest Stewardship Council).


© Business Wire 2022
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Financials
Sales 2021 427 M 445 M 445 M
Net income 2021 3,59 M 3,73 M 3,73 M
Net Debt 2021 57,3 M 59,6 M 59,6 M
P/E ratio 2021 48,7x
Yield 2021 -
Capitalization 83,8 M 87,2 M 87,2 M
EV / Sales 2020 0,50x
EV / Sales 2021 0,49x
Nbr of Employees 4 262
Free-Float 8,71%
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Managers and Directors
Antonio Achille CEO, Chief Operating Officer & Executive Director
Pasquale Natuzzi Director
Pierangelo Colacicco Chief Information Officer
Antonia Isabella Perrone Non-Executive Director
Giuseppe Antonio D'Angelo Non-Executive Director
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