UNITED
STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549




FORM 20-F/A

(Amendment No. 1)



ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the Fiscal Year Ended: December 31,
2015

Commission file number: 001-11854

NATUZZI S.p.A.

(Exact name of Registrant as specified in
its charter)

Republic of Italy

(Jurisdiction of incorporation or organization)

Via Iazzitiello 47, 70029, Santeramo
in Colle, Bari, Italy

(Address of principal executive offices)

Mr. Vittorio Notarpietro

Tel.: +39 080 8820 111; vnotarpietro@natuzzi.com;
Via Iazzitiello 47, 70029 Santeramo in Colle, Bari, Italy

(Name, telephone, e-mail and/or facsimile
number and address of company contact person)

Securities registered or to be registered
pursuant to Section 12(b) of the Act:



|                                                                 |                                                            
|---------------------------------------------------------------- | -----------------------------------------------------------
|Title of each class                                              | Name of each exchange on which registered                  
|American Depositary Shares, each representing one Ordinary Share | New York Stock Exchange                                    
|Ordinary Shares, with a par value of €1.00 each                  | New York Stock Exchange
        (for listing purposes only)

Securities registered or to be registered
pursuant to Section 12(g) of the Act:

None

Securities for which there is a reporting
obligation pursuant to Section 15(d) of the Act:

None

Indicate the number of outstanding shares of each of the
issuer’s classes of capital or common stock as of the close of the period covered by the annual report:

As of December 31, 2015 54,853,045
Ordinary Shares







Indicate by check mark if the registrant is a well-known
seasoned issuer, as defined in Rule 405 of the Securities Act.    Yes  ☐    No  ☒

If this report is an annual or transition report, indicate
by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934.    Yes  ☐    No  ☒

Indicate by check mark whether the registrant (1) has
filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.    Yes  ☒    No  ☐

Indicate by check mark whether the registrant has submitted
electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant
to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the
registrant was required to submit and post such files).    Yes  ☒    No  ☐

Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer”
in Rule 12b-2 of the Exchange Act. (Check one):



|                             |                        |                           
|---------------------------- | ---------------------- | --------------------------
|Large accelerated filer     ̈ | Accelerated filer    x | Non-accelerated filer     ̈

Indicate by check mark which basis of accounting the registrant
has used to prepare the financial statements included in this filing:



|               |           |           
|-------------- | --------- | ----------
|U.S. GAAP    ☐ | IFRS    ☐ | Other    ☒

If “Other” has been checked in response to the
previous question, indicate by check mark which financial statement item the registrant has elected to follow.    ☐  
Item 17     ☒    Item 18

If this is an annual report, indicate by check mark whether
the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ☐    No  ☒















EXPLANATORY NOTE



This Amendment No. 1 on Form 20-F/A (the “Amendment”)
amends Item 15(a) of the Annual Report on Form 20-F (the “Original Annual Report”) for the year ended December 31,
2015, which was originally filed with the Securities and Exchange Commission (the “SEC”) on May 23, 2016. We have modified
Part II Item 15(a), “Controls and Procedures,” in this Amendment in response to a comment letter received from the
SEC regarding management’s conclusion as to the effectiveness of disclosure controls and procedures in the Original Annual
Report. In addition, we are including current Exhibits 12.1, 12.2 and 13.1, the certifications of our Chief Executive Officer and
Chief Financial Officer required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 as of the date of this Amendment.



Except as described above, we have not modified
or updated any disclosures presented in the Original Annual Report. This Amendment does not reflect events occurring after the
filing of the Original Annual Report or modify or update those disclosures, including the exhibits to the Original Annual Report.
Accordingly, this Amendment should be read in conjunction with our filings with the SEC subsequent to the filing of the Original
Annual Report.



PART II

| | Item 15. | CONTROLS AND PROCEDURES
| | -------- | -----------------------

(a) Disclosure
Controls and Procedures — The Company carried out an evaluation under the supervision and with the participation
of the Company’s management, including the Chief Executive Officer and Chief Financial Officer, of the effectiveness of the
design and operation of the Company’s disclosure controls and procedures as of December 31, 2015. There are inherent limitations
to the effectiveness of any system of disclosure controls and procedures, including the possibility of human error and the circumvention
or overriding of the controls and procedures. Accordingly, even effective disclosure controls and procedures can only provide reasonable
assurance of achieving their control objectives. Based on the Company’s evaluation of its disclosure controls and procedures
and, since the Company failed to complete its evaluation of internal control over financial reporting by the deadlines prescribed
in the SEC’s rules and forms, the Chief Executive Officer and Chief Financial Officer concluded that the Company’s
disclosure controls and procedures were not effective as of December 31, 2015 to provide reasonable assurance that information
required to be disclosed in the reports the Company files and submits under the Exchange Act is recorded, processed, summarized
and reported within the time periods specified in the SEC’s applicable rules and forms, and that it is accumulated and communicated
to the Company’s management, including the Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely
decisions regarding required disclosure. The Company timely filed its annual report on Form 20-F for the year ended December 31,
2016 and concluded that its disclosure controls and procedures were effective as of the end of the period covered by such report.

(b) Management’s
Annual Report on Internal Control Over Financial Reporting — The Company’s management is responsible for establishing
and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under
the Securities Exchange Act of 1934, as amended. Internal control over financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in
accordance with generally accepted accounting principles. Because of its inherent limitations, internal controls over financial
reporting may not prevent or detect misstatements. Even when determined to be effective, they can provide only reasonable assurance
regarding the reliability of financial reporting and the preparation and presentation of financial statements. Also, projections
of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes
in conditions, or that the degree of compliance with the policies and procedures may deteriorate.

To assess
the effectiveness of the Company’s internal control over financial reporting, the Company’s management, including the
Chief Executive Officer and the Chief Financial Officer, used the criteria described in “2013 Internal Control—Integrated
Framework” issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”).

The Company’s
management assessed the effectiveness of its internal control over financial reporting as of December 31, 2015. Based on such
assessment, the Company’s management has concluded that as of December 31, 2015, the Company’s internal control
over financial reporting was effective and that there were no material weaknesses in the Company’s internal control over
financial reporting.







The effectiveness
of internal control over financial reporting as of December 31, 2015 has been audited by Ernst & Young, an independent
registered public accounting firm, as stated in their report on the Company’s internal control over financial reporting,
which follows below.

(c) Attestation
Report of the Registered Public Accounting Firm

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Board of Directors and Shareholders of

Natuzzi S.p.A.

We have audited Natuzzi S.p.A. and subsidiaries’ internal
control over financial reporting as of December 31, 2015, based on criteria established in Internal Control—Integrated
Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) (the COSO criteria).
Natuzzi S.p.A. and subsidiaries’ management is responsible for maintaining effective internal control over financial reporting,
and for its assessment of the effectiveness of internal control over financial reporting included in the accompanying Management’s
Annual Report on Internal Control Over Financial Reporting. Our responsibility is to express an opinion on the company’s
internal control over financial reporting based on our audit.

We conducted our audit in accordance with the standards of
the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects.
Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material
weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk,
and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable
basis for our opinion.

A company’s internal control over financial reporting
is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control
over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable
assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally
accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations
of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection
of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial
statements.

Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods
are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance
with the policies or procedures may deteriorate.

In our opinion, Natuzzi S.p.A. and subsidiaries maintained,
in all material respects, effective internal control over financial reporting as of December 31, 2015, based on the COSO criteria.

We also have audited, in accordance with the standards of
the Public Company Accounting Oversight Board (United States), the consolidated balance sheets of Natuzzi S.p.A. and subsidiaries
as of December 31, 2015 and 2014 and the related consolidated statements of operations, changes in shareholders’ equity
and cash flows for each of the three years in the period ended December 31, 2015 and our report dated May 23, 2016 expressed
an unqualified opinion thereon.

/s/ Reconta Ernst & Young S.p.A.

Bari, Italy

May 23, 2016









PART III

| | Item 19. | Exhibits
| | -------- | --------

Documents
filed as exhibits to this Amendment No. 1 to our annual report:

|12.1 |  | Certification of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley
Act of 2002.
|---- |  | -------------------------------------------------------------------------------------------------------

|12.2 |  | Certification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley
Act of 2002.
|---- |  | -------------------------------------------------------------------------------------------------------

|13.1 |  | Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|---- |  | -------------------------------------------------------------------------









SIGNATURE

The registrant, Natuzzi S.p.A., hereby
certifies that it meets all of the requirements for filing on Form 20-F/A and that it has duly caused and authorized the undersigned
to sign this annual report on its behalf.

| | NATUZZI S.p.A.                                        
| | ------------------------------------------------------
| | By:	/s/
        Pasquale Natuzzi                      
| | Name:	Pasquale Natuzzi 
Title:	Chief Executive Officer

Date: July 7, 2017