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.


Featured Articles

Middle East GDP hike of 57% if more women join workforce

By tapping into the potential of next-generation female workers, the MENA region could unlock new economic opportunities, up to US$2 trillion, reports PwC

Dialight supplies LED solutions for industrial safety

Reliance on inefficient lighting technologies are not only harmful to the environment, but also increase injury risk and cost

Top 10: Tech, AI, cloud, cyber speakers at TECH LIVE LONDON

TECH LIVE LONDON events sees technology leaders from IBM, Oracle, Vodafone, JP Morgan, Accenture and the US Space Force among the inspirational speakers

Cyber LIVE adds Vodafone head of cyber Kawalec to line-up

Leadership & Strategy

Musk’s multibillion hostile Twitter takeover – the timeline

Leadership & Strategy

Sustainable moves businesses can make to win customers, IBM