Better Company

Total Ingka Group operating income was EUR 2.0 billion and net income EUR 0.3 billion. In FY22, Ingka Group corporate income tax amounted to EUR 0.5 billion. In FY22, our total tax bill, including other taxes such as property and environmental taxes, amounted to approximately EUR 1 billion (FY21 1.1 billion). In FY22 85% of net income was reinvested in the company to secure that we make IKEA more affordable, accessible, and sustainable. The other 15% is paid as dividend to Stichting INGKA Foundation to support charitable activities of the IKEA Foundation.

In FY22 we did not directly invest in businesses that explore for, extract, process, refine, or transport fossil fuels or nuclear power, or any utilities businesses that use these fuels.

Since 2009 Ingka Investments has invested EUR 2.5 billion in renewable energy and additional EUR 0.6 billion investments have been secured.

We developed the methodology during FY21 and we are now implementing it. We continue to strictly exclude investment in certain sectors (e.g. fossil fuel) and are using the positive ESG screening criteria to help us invest with impact including in specific solutions to tackle climate change, unsustainable consumption and inequality.

At the end of FY22, women made up 38% of our Group Management (including our Management Board), 39% of board members for our three Ingka businesses and 49% of committee members. There were no women on our Management Board (2 members). The percentage of women on Group Management reduced from 50% in FY21. This is due to one female member leaving the business who was replaced by two co-managers who are both men.

At country level, women made up 47% of permanent board members. We will keep working towards achieving and maintaining 50/50 representation for boards and committees. Our boards and committees are small in size and individual changes can have a large impact on total figures creating significant variations from year to year. All figures are correct as of September 1st 2022.

In FY22, over 98,300 co-workers completed our Code of Conduct training (including induction training for new joiners and refresher training), up from 93,000 in FY21. We are working to improve the way we record training data to enable us to monitor and drive progress against our target.

Our anti-bribery and corruption procedures require in-depth training for any co-workers in sensitive roles (such as procurement and real estate)¹. We also have an e-learning programme on anti-bribery and corruption, which includes annual refresher training.

All of our contracted suppliers (representing over 75% of our spend) had signed the IWAY Compliance Commitment and were assigned a risk level by the end of FY22.  IWAY Compliance also requires risk mitigation for high- and critical- risk suppliers. One of the key ways we mitigate risk for high- and critical- risk suppliers is by auditing suppliers to check compliance with the IWAY supplier code of conduct. We aim to audit all new suppliers rated as high- or critical-risk. We track total number of IWAY Reviews for high- and critical-risk-suppliers and are working on better visibility over our data to improve the way we monitor IWAY performance as part of continuous supplier management.