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Annual General Shareholders’ Meeting of Natuzzi S.p.A.
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Natuzzi S.p.A. (NYSE: NTZ) held its annual general shareholders' meeting on May 12, 2022, where shareholders approved the financial statements for the fiscal year ended December 31, 2021. The company reported a consolidated net sales increase to €427.4 million from €328.3 million in 2020, and a net profit of €4.4 million, recovering from a net loss of €24.9 million. Additionally, new statutory auditors and external auditors were appointed for 2022-2024, along with a new Non-Executive Director, Gilles Bonan.
Positive
Consolidated net sales increased to €427.4 million from €328.3 million year-over-year.
Net profit of €4.4 million compared to a net loss of €24.9 million in the previous year.
Appointment of KPMG as the principal independent auditor for 2022-2024.
Negative
None.
- 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
SANTERAMO IN COLLE, Bari, Italy--(BUSINESS WIRE)--
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).
