MADRID, 24 (EUROPA PRESS)
Ingka Group, Ikea franchisee and owner of most of its stores, recorded a net profit of 1,189 million euros in the whole of its fiscal year, ended in August, which represents a drop of 34.6% compared to with the previous year as a direct consequence of the impact of the pandemic on your business.
According to its annual accounts, published this Tuesday, Ingka had a turnover of 37,368 million euros in the twelve fiscal months, 4.8% less. The company has highlighted this evolution despite the fact that for several weeks, at the peak of the pandemic, it had to close three out of four of its stores.
The Ikea Retail division, which accumulates Ingka’s business as Ikea’s store operator, recorded revenues of 35.2 billion euros, 4.1% less than a year earlier.
“This last year has put us all to the test, but that we have managed to emerge in a solid financial position while we have taken great steps towards our transformation is a testament to our values and the resilience of our workers,” he said. assured the Deputy CEO and CFO of the multinational, the Spanish Juvencio Maeztu.
Sales through the Internet experienced an increase of 60%, compared to the 48% growth recorded in the previous year. In the year, it registered a total of 3,600 million unique visitors on the Ikea website, compared to 2,600 the previous year.
In the twelve fiscal months as a whole, the costs of the products and services offered stood at 25,643 million euros, 4.2% less. On its side, operating expenses were reduced by 1.8%, to 10,454 million euros.
The firm has stressed that the profits will be reinvested in the company. In addition, it has specified that it registered a capital expenditure during the year of 2,100 million euros, including an “extensive” investment in physical stores, in the digital user experience and in renewable energies with the aim of “being more affordable, accessible and sustainable “.
Looking ahead to the next fiscal year, Ingka plans to maintain its expansion of physical stores in city centers. They also aspire to continue opening new store formats while continuing to invest in developing their “omnichannel experience.”
At the beginning of October, Inter Ikea Systems, the company that owns the ‘Ikea’ concept and is in charge of franchising the brand to both Ingka Group and the other 11 franchisees globally, announced that the total sales of all Ikea stores amounted to 39,600 million euros.