Natuzzi S.p.A. has reported its financial results for the first quarter of 2025. The company experienced a decrease in total net sales, amounting to €78.1 million, down 7.6% from €84.5 million reported in the first quarter of 2024. Gross margin also declined to 34.1% from 36.9% in the same period last year, attributed primarily to the transition phase of shifting Natuzzi Editions production for the North American market from China to Italy. The company recorded an operating loss of €0.8 million, contrasting with a profit of €0.6 million in the previous year. Net finance costs increased to €2.9 million from €2.2 million, affected by unfavorable currency movements on trade receivables and payables. The overall loss before tax widened to €3.9 million, compared to a loss of €1.8 million in the first quarter of 2024. In terms of investments, Natuzzi S.p.A. spent €1.9 million during the first quarter of 2025, primarily for upgrading the Group's Italian factories. The company noted a deterioration in cash and cash equivalents, with a negative €24.1 million balance, compared to a negative €21.7 million as of December 31, 2024. The company did not provide specific outlook or guidance for the upcoming quarters.
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