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
Share

Featured Articles

Age of the CISO – a new chapter for cyber security

HE Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government and Dr Aloysius Cheang, Chief Security Officer Huawei UAE, on the new age of the CISO

Exclusive: Making the UAE a global force in cybersecurity

His Excellency Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government, on plans to build the world’s most secure digital society for a safer society

UAE cyber leaders – back to basics to prepare for the future

HE Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government and Dr Aloysius Cheang, Chief Security Officer Huawei UAE, on the future of cybersecurity

Top 10: Procurement & Supply Chain LIVE speaker highlights

Leadership & Strategy

10 apps to improve wellbeing on World Mental Health Day

Leadership & Strategy

Meet the COO: Brook Sims of MAC Diversity Recruiters

Leadership & Strategy