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ZF English

Natuzzi, 14.2m-euro profit from couches

30 apr 2007 7

Italsofa Romania, one of the top three companies on the domestic furniture market posted net profit worth 50 million RON (14.2 million euros) last year, almost 40% more than the 36 million RON (10 million euros) seen in 2005, according to information provided by the company to ZF.
Italsofa is part of the Natuzzi group, one of the largest global manufacturers of couches. In 2005, the profit of Italsofa Romania was 1.7% lower than in 2004 - a level of 37.5 million RON (9.25 million euros). The company closed last year with a 267 million RON (75.7 million-euro) turnover, an almost 20% increase on 2005.
For 2007, Italsofa has budgeted turnover worth 84 million euros, an increase of over 10% on 2006. The Italians have also stated that they are considering entering the local retail market.
As part of a project started at the beginning of 2005, in order to increase its production capacity, the company conducted investments exceeding 2.5 million euros in 2006.
The Italians hold two production centres covering an area of over 65,000 square metres, with a daily production volume of 2,300 seats (the unit of measurement for couch production).
According to company data, 99.99% of Italsofa Romania is held by Natuzzi Netherlands, with the remaining shares being held by Natuzzi Spa.
Natuzzi exclusively produces leather and micro-fibre couches in Baia Mare, 99% of which are primarily exported to EU markets.
Italsofa currently has only one client on the Romanian market, Linea Mex.
About 85% of the raw materials used in the manufacturing of Natuzzi products come from Romanian suppliers including the companies Kronospan, Euroform, and RomSilva. The remaining materials are imported from Italy, with one of the main suppliers being Gruppo Frati. In total, the Natuzzi group has 25 plants, 21 of which are located in Italy, 2 in Brasil, one in China and one in Romania.
The company has been listed on the New York Stock Exchange since 1993.

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