Mr. Natuzzi continued, “My goal is to lead the Company into a process that will strengthen our organization credibility and set the stage of competitiveness for sustained long term growth. We are increasing our orders flow and so we are confident for the year end target of breakeven in terms of EBIT. Last we have an extremely skilled and committed management team that is focused and dedicated to achieve our goal of 15% operating margin in 2011.”
Wow, what happened to 15% operating margins for 2011?? And they were predicting this in the 2nd quarter of 2009, when things looked bleakest. (They mistakenly suggested in the earnings conference call that they made a 15% operating margins projection before the great recession hit.)
15% operating margins, on the current sales base, would net well over $1+ in EPS (US). But I'm sure we probably need 750+ M Euro in sales for them to have a chance at such returns.