Italian furniture group Natuzzi reported fourth quarter 2025 revenue of €77.5 million, up 3.4% year-on-year, as the company continued to navigate weak consumer demand, geopolitical uncertainty and higher trade costs in a difficult global furniture market.
Gross margin declined to 30.2% of revenue from 38.1% a year prior, reflecting the planned relocation of Natuzzi Editions production from China to Italy, lower sales in Natuzzi Italia and the direct retail network, and a €2.3 million impairment charge on machinery and equipment at selected Italian factories.
Natuzzi reported an operating loss of €13.6 million for the quarter, widening from €2.7 million in the prior year period, while net loss increased to €15.5 million from €3.9 million. The company said results were also affected by €7.6 million in impairment charges across manufacturing, retail and corporate assets, as well as increased duties on goods produced in Europe and shipped to the U.S. following the shift in production.
Cash and cash equivalents stood at €20.3 million on December 31, 2025, unchanged from a year earlier. Natuzzi said it continued to generate liquidity through non-core asset disposals, including the sale of property in North Carolina and land in Romania. The company confirmed a further €7.1 million asset sale completed in January 2026 that will be reflected in first quarter results. The company also received €10 million from its majority shareholder to support cash requirements and restructuring efforts.
Outlook
Natuzzi said store traffic and written orders remain below expectations as macroeconomic headwinds, geopolitical instability and trade tensions continue to weigh on consumer confidence. The company said negotiations with trade unions over workforce restructuring remain ongoing, while due diligence has begun with a potential Italian institutional investor as part of a capital strengthening strategy. Its board has also authorised management to begin an out-of-court negotiated restructuring process under Italian law aimed at supporting financial and operational rebalancing while preserving business continuity.
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