IKEA has today announced its 2023 financial year results, highlighting growth following major developments in its ongoing UK transformation plan to become more accessible, affordable and sustainable. Peter Jelkeby, CEO and chief sustainability officer, IKEA UK & Ireland, said: “In our 80th year, we can be proud of our performance. At the same time, IKEA has been investing in cost transformation projects focused largely on improved energy and waste management. Despite inflationary pressures in FY23, IKEA decreased its operating cost ratio to 27.8% (FY22: 29.1%), positively impacting operating profitability, which grew to 4.5% of total turnover (FY22: 2.3%). Key FY23 HighlightsBetter businessDespite challenging market conditions, IKEA continued to make important strategic investments in its journey to become more affordable, accessible, and sustainable.

Source: The Times January 31, 2024 11:38 UTC