PH179899

Inter IKEA Group FY22 year in review

Total retail sales for FY22 reached EUR 44.6 billion (EUR 41.9 billion in FY21). This includes sales of IKEA products, food and services to customers. Compared to FY21, retail sales grew by 6.5% (+3.5% when adjusted for currency effects).
1Ikea_retail_sales_in_billion_EUR
IKEA retail sales in billion EUR
In FY22, IKEA retail operations were less impacted by measures to prevent the spread of Covid-19. Unlike in FY20 and FY21, most IKEA stores remained open without (severe) restrictions and store visitation went up compared to the two previous years.

The war in Ukraine has also affected the IKEA business and customers. IKEA retail operations in Russia have stopped and Inter IKEA Group continues to scale down its presence with full consideration for the many co-workers, partners and suppliers who have made IKEA successful there for several years.

Against this background, retail sales developed positively at the start of the year while increasing purchase and transport costs were absorbed. In the second half of the year, sales in quantities were negatively affected by the war in Ukraine and the effects of the energy crisis and inflation.
2Ikea_retail_sales_development

IKEA Retail sales development 

An uplift in store sales is visible, while online sales remain at a high level. Although there are still challenges to maintain the supply of home furnishing products to the retailers, the availability of products for our customers has improved.

3Share of IKEA retail sales
Share of IKEA retail sales

Whereas we see growth in sales value, sales in volumes decreased and number of products sold has not grown.
In FY22, raw material and commodity prices also continued to rise, as well as costs related to transportation and logistics. In total, this created additional costs for the whole IKEA value chain. These costs were only partly compensated by higher revenues.

Click here to learn more about the IKEA year that passed on About.IKEA.com

Inter IKEA Group recorded total revenues of EUR 27.6 billion (EUR 25.6 billion in FY21), including wholesale sales to IKEA retailers, franchise fees and retail sales from the IKEA Delft store. Net profit is EUR 0.7 billion (EUR 1.4 billion in FY21).