Annual Report 2002
Financial Statements Natuzzi S.p.A. and Subsidiaries Consolidated Financial Statements as of December 31, 2002 and 2001 and for each of the years in the three-year period ended December 31, 2002 37 Independent Auditors’ Report 38 Consolidated Balance Sheets as of December 31, 2002 and 2001 40 Consolidated Statements of Earnings for the Years Ended December 31, 2002, 2001 and 2000 41 Consolidated Statements of Changes in Shareholders’ Equity for the Years Ended December 31, 2002, 2001 and 2000 42 Consolidated Statements of Cash Flows for the Years Ended December 31, 2002, 2001 and 2000 44 Notes to Consolidated Financial Statements 35 37 Consolidated Balance Sheets December 31, 2002 and 2001 expressed in euro thousands, except as otherwise indicated Assets 2002 2001 Current assets Cash and cash equivalents (note 4) 96,695 208,200 Marketable debt securities (note 5) 26 27 Trade receivables, net (note 6) 158,398 138,208 Other receivables (note 7) 58,337 54,629 Inventories (note 8) 84,081 87,895 Unrealized foreign exchange gains (note 24) 2,021 - Prepaid expenses and accrued income 1,240 918 Deferred income taxes (note 14) 1,822 2,018 Total current assets 402,620 491,895 Non current assets Property, plant and equipment (note 9 and 21) 310,253 250,746 Less accumulated depreciation (note 9 and 21) (81,361) (67,633) Net property, plant and equipment 228,892 183,113 Treasury shares (note 19) 37,828 37,828 Other assets (note 10) 5,052 3,889 Deferred income taxes (note 14) 93 43 Total assets 674,485 716,768 see accompanying notes to consolidated
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