Natuzzi group sees 50% sales decline for its Baia Mare factory

Ziarul Financiar 20.10.2009

The management of Natuzzi, owner of Italsofa in Baia Mare, one of the leading furniture manufacturers on the Romanian market, announced sales of the Baia-Mare-based manufacturer went down 50% in the first half of the year against the similar period of last year. "According to results posted in the shopping centres where the group distributes its products, Natuzzi sales in Romania halved, amid a decline in overall consumption. The overall turnover of the Natuzzi group fell by 20% in the second quarter compared with the similar period of last year. This decline is due to the overall contraction of the world's economy, especially to effects on clients in the United States," said Cosimo Cavallo, senior vice-president for South, East Europe and Middle East of the Natuzzi group. According to representatives of the Natuzzi group, the group's international sales recovered compared with the first six months of 2009. "This suggests a gradual rebound of the European furniture market, and has led to a production resurgence, the Romanian plant included," added Cosimo Cavallo. Italsofa Romania posted 30 million RON (8.1 million euros) in net profit last year, down 38% against the 48 million RON (14.4 million euros) reported in 2007. The turnover posted by Italsofa Romania last year went up 19% against the previous year, to 307 million RON (83.4 million euros).