* North American YTD orders down 36.7 percent
* New business plan to keep 15 percent EBIT margin target
* Natuzzi shares up 2.87 percent
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By Claudia Cristoferi
MILAN, Oct 29 (Reuters) - Italian home furniture maker Natuzzi sees sales falling 20 percent this year compared to 2008, Chairman and Chief Executive Pasquale Natuzzi said in an interview on Thursday.
The New York-listed company had revenues of 666 million euros ($981 million) in 2008. Year-to-date orders to last week were down 23.2 percent with a slight improvement seen in the last three weeks, he said.
"If the trend stays as it is, I think we will close the year with a fall of around 20 percent in turnover," Natuzzi told Reuters.
Orders have fallen more sharply in North America, down 36.7 percent, followed by the European area of UK, France, Spain and Portugal plus the Middle East, down 13.9 percent, and Italy down 12 percent, he said.
"Our sector feels the global crisis and in particular the trend in the real estate market, but from our viewpoint I can say that the situation can only improve," he said.
In the second quarter, earnings before interest and tax (EBIT) turned into profit of 1.1 million euros from loss of 5.1 million euros a year earlier. Sales fell 21 percent to 133.6 million euros.
"I can say that the third quarter should be better than the second and the fourth will be even better. I hope that the last three months (of the year) will be in profit," he said.
Second-quarter net loss was 3.9 million euros, widening from 2.4 million a year earlier.
Results are benefitting from measures to innovate production processes, including research on materials, and computer systems all aimed at cutting costs, Natuzzi said.
A new business plan for the leather sofa maker will be ready by the end of November with revised targets, he said.
A previous revenue target of 1 billion euros in 2011 was no longer valid though a 2011 EBIT margin target of 15 percent of sales remains from the summer 2008 plan, he said
Natuzzi did not exclude a future listing in Milan but said it was not on the agenda for now.
At 1650 GMT, Natuzzi shares were up 2.87 percent to $2.87. (Reporting by Claudia Cristoferi; Editing by Jon Loades-Carter) ($1=.6785 Euro)