Natuzzi Group has posted a revenue increase of 3.1% for Q3 2015, and points out double-digit growth in the UK, making it the company's second-largest market after the US.
Globally, the upholstery giant reports a positive EBITDA of €1.5m, compared to an EBITDA loss of €3.7m in Q3 2014, and consolidated revenues of €115.2m – up 3.1% on 2014. Its gross margin was 32.7%, a significant improvement on 2014's 27.9%.
“The positive results posted for the preceding six quarters have once again been replicated in the third quarter of 2015," says chairman and CEO, Pasquale Natuzzi.
"The improved sales mix and quality - together with favorable currency movements – led to a 3.1% revenue increase (+10.6% for the first nine months) and a significant margin boost.
"In Q3 2015, the Natuzzi brand represented 70.5% of upholstery sales, with the remaining 29.5% from private labels. The regional breakdown highlights the strong performances of the Americas (+10.5%) and Asia Pacific (+9.0%) - in particular China and South Korea."
Since the beginning of the year, Natuzzi opened 90 new galleries and 15 new sales points.
The cost of sales as a percentage of net sales reduced 4.8% thanks to efficiency measures introduced at the Chinese plant and greater productivity at the Italian plant, the stabilisation of the workforce and the discontinuation of worker rotation from May 2015 as per the Trade Union Agreement of March 3rd.
The Natuzzi brand includes the group's three lines – Natuzzi Italia, Natuzzi Editions and Natuzi Re-Vive.