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Stock impact report

Natuzzi S.p.A.: Shareholder Letter and Financial Results 2023 – Fourth Quarter and Full Year Results [Yahoo! Finance]

Natuzzi, S.p.A. (NTZ) 
US:NYSE Investor Relations: natuzzigroup.com/en-en/ir/investors.html
Company Research Source: Yahoo! Finance
2022, WHICH BENEFITTED FROM A €16.9 MILLION REDUCTION IN BACKLOG. NET OF THE BACKLOG EFFECT, THE DECREASE WOULD HAVE BEEN OF 15.5%. DESPITE THE CHALLENGING MARKET CONDITIONS, WE CONTINUED INVESTING TO STRENGTHEN OUR BRANDED BUSINESS AND TO ACCELERATE THE RESTRUCTURING OF OUR OPERATIONS. IN 4Q 2023, BRANDED SALES REPRESENTED 92.2% OF TOTAL SALES, CONFIRMING THE TRANSITION TO A LIFESTYLE BRAND, WHICH IS THE RESULT OF MORE THAN A DECADE OF INVESTMENTS. SALES FROM RETAIL WERE 61.7% OF THE TOTAL. THESE PERCENTAGES WERE RESPECTIVELY 85.3% AND 52.2% AT THE BEGINNING OF 2021. IN 4Q 2023 WE COMPLETED THE ORGANIZATIONAL AND IT INTERVENTIONS TO ENSURE A MODERN MANAGEMENT OF OUR RETAIL AND COMMERCIAL OPERATIONS, WHICH SPREAD ACROSS 678 STORES AND 100 COUNTRIES. IN 4Q 2023 WE ACCELERATED THE RESTRUCTURING, BOTH WITHIN FACTORIES AND HQ, AS A PART OF OUR LONG-TERM TRANSFORMATION PROCESS TO INCREASE COMPETITIVENESS AND ENHANCE MARGIN GENERATION. IN PARTICULAR, IN 4Q 2023, WE SUSTAINED €5.9 MI Show less Read more
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