IKEA Group earns year sales of €38.3bn, €3bn profit revealed

By Johan De Mulder

IKEA Group has reported on its financial year up to the end of August, with sales of €38.3bn leading to profits of €3bn. 

The Swedish retailer benefited from close to 1bn store visits while its recent focus on developing its e-commerce platform led to 2.3bn web visits over the period.

Profits are ultimately down on its previous annual figures, however, with a €1.5bn difference attributed to the sale of a number of production and supply chain subsidiaries.

See also:


"During the full year, the IKEA Group invested €3.1bn in stores, distribution and customer fulfilment network, shopping centres, renewable energy and forestry," it said in a statement.

"The decrease in operating result was mainly driven by the loss of profit from the companies that were sold in the transaction, as well as the increased costs in IKEA Retail to support multi-channel growth and expansion."

IKEA stores worldwide are owned by 11 franchisees, of which IKEA Group is the biggest with 355 stores at the end of August.

Share

Featured Articles

Top 10 most innovative telecom operators in the Middle East

With Dubai-based Telecoms World Middle East in full swing, we chart the most innovative telcos from the region – and look at how they are transforming

Top 10 fastest-growing Indian companies in the UK

Business Chief takes a look at the top 10 fastest-growing Indian companies in the UK, according to the India Meets Britain Tracker from Grant Thornton

Top 10 workplaces prioritising people and planet in the UAE

Sustainable, flexible, collaborative, tech-driven, and amenities-rich, the office of the future considers both people and planet – here are 10 in the UAE

Top 10 female HR execs leading Saudi’s workplace transition

Leadership & Strategy

Top 10 largest asset managers by AUM operating in the UAE

Corporate Finance

Top 10 female CEOs leading Africa’s biggest businesses

Leadership & Strategy