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Better company

Financial independence and our unique ownership structure

Ingka Group achieved strong financial results in FY21, with revenue amounting to EUR 39.8 (FY20: EUR 37.4 billion), and total IKEA Retail sales were EUR 37.4 billion, an increase of 6.3% compared with the previous year (FY20: EUR 35.2 billion).  

Built for purpose

Our financial approach is based on 78 years of earning money before we spend it, which allows us to be financially independent and purpose-driven in our decisions. We think in generations, not quarters, and invest in the long-term good of our customers, our business, people, society and our planet.   

Ingka Group is owned by a Dutch foundation, Stichting INGKA Foundation, with a charitable purpose that is achieved by making funds available to Stichting IKEA Foundation. 

Built for purpose, we reinvest the majority of our profit in our business to help us grow and innovate, and the remaining part as dividends to INGKA Foundation to achieve its charitable purpose. 

Ingka Group pays taxes in all countries in which we operate and view this as an important part of our wider economic and social contribution to society. We pay taxes in accordance with laws and regulations, wherever we are present, as a retailer or in any other role.  

Kid playing in the garden

Revenue FY21

EUR 39,784 million

Number of employees


Number of IKEA stores


Number of IKEA shops and IKEA planning studios


Countries with IKEA stores and other customer meeting points owned by the company


Number of meeting places (shopping centres)


Progress and challenges in FY21

In FY21 (1, fotnot: 1 September 2020 to 31 August 2021) Ingka Group delivered an overall strong performance with growing revenues. Thanks to the entrepreneurship of our co-workers and transformation of our business, we met the needs and dreams of our customers and kept IKEA open with digital capabilities, despite store closures due to Covid-19 restrictions. We are proud to have served millions of customers in a time when life at home has never been more important, and to have led in the pandemic in a professional and caring way with people and business at heart. 

In parallel, we continued to invest in our ongoing transformation to establish an affordable, accessible and sustainable omnichannel IKEA that delivers the profitability we need for future resilience. 

Empowered by our healthy financial position, we were flexible, agile and quick to act on opportunities. It is part of our culture and values to ensure we are financially strong and resilient. Our profit gives us resources to continue investments so that we can grow and live up to our vision to create a better everyday life for the many. 

co-workers in store

Ingka Group financial performance  

Total Ingka Group revenue for FY21 amounted to EUR 39.8 billion and increased by 6.5% compared to FY20. Operating income amounted to EUR 1.9 billion, an increase of 31% compared to the previous year. Income before tax amounted to EUR 2.2 billion (EUR 1.6 billion in FY20).  

Ingka Group pays taxes in all countries where it operates. The taxes we pay are an important part of our wider economic and social contribution to society. In FY21, our total tax bill, including other taxes and duties such as property taxes, environmental taxes and customs duties, amounted to approximately EUR 1.1 billion. See Tax for more on our tax payments.

The net profit of FY21 was EUR 1.6 billion (FY20: EUR 1.2 billion).

We continued to invest in our business transformation in our stores, distribution and customer fulfilment networks, the digital customer experience and shopping centres, and continued our sustainability investments in renewable energy and forestry, amounting to a capital expenditure of EUR 3.2 billion (FY20: 1.9 billion). 

Total assets amounted to EUR 55.1 billion (EUR 52.2 billion in FY20). We further strengthened our equity position to EUR 45.2 billion at year-end (EUR 43.2 billion in FY20). The total cash flow for FY21 was EUR 1.2 billion positive (EUR 2.3 billion negative in FY20). Cash flow from operating activities was EUR 4.2 billion (EUR 2.9 billion in FY20).  

customers with co-worker delivering IKEA products

What next?

Our journey to create a better IKEA continues in a world that faces unprecedented challenges. Covid-19 will continue to impact our business and the communities we are a part of. The global supply and transport crisis will require a resilient, flexible response. 

Efforts across the value chain will continue to mitigate the challenges with product availability, inflation, prices of raw materials and transport that are expected to continue into FY22. 

 Solving the climate crisis has become critical, calling for sustainable business models and radical collaboration to reach the Paris Agreement and limit the global temperature rise to 1.5°C. Climate change will challenge humanity and alter business conditions. 

We are committed leaders in dealing with climate change together with businesses and governments. We will continue to integrate sustainability fully into our business model and maintain our holistic approach on performance that steers our business for growth, a better planet, better lives and better homes for customers. We will take the next steps in our decade of People and Planet actions towards the IKEA ambition to become climate positive, circular and enable 1 billion people to live within the boundaries of the planet by the end of 2030. 

co-worker in IKEA store

The new, three-year strategic direction called the Next 10 Jobs in three years is focusing on the next transformation steps, creating a better IKEA. We will provide a more relevant offer and better service at affordable prices through excellent omnichannel operations, a robust digital backbone and a healthy, sustainable business performance, and we will continue to invest in the same way as we have done in previous years. 

We have active portfolio management of our assets to secure the right investments in both the maintenance and development of existing assets, together with some selected divestments. We will continue to expand in our prioritised markets and city centre locations and to realise our transfor- mational investments, securing that our purpose and financial ambition go together. 

All in all, we will navigate forecasted, stormy waters with flexibility, speed and increasing simplicity. We will make optimal use of the potential we have in our existing business while ensuring a resilient company for future generations. We will thrive by building on our strengths: our products, customers, fantastic people, dedication to life at home and most of all – our culture and values, while creating the future. We have a positive view and will play our part in circularity for a better life for the many people. Life at home has never been so important, and our vision to create a better life for the many people has never been so relevant.  

Tax payments

Ingka Group pays taxes in all countries where itoperates. The taxes we pay are an important part of our wider economic and social contribution to society. 

Tax payments in FY21

The effective tax rate of 29.3% (FY20: 24.1%) corresponds to an amount of EUR 0.7 billion corporate income taxes (FY20: EUR 0.4 billion). In FY21, our total tax bill, including other taxes and duties such as property taxes, environmental taxes and customs duties, amounted to approximately EUR 1.1 billion. 

Over the past five years (FY17–FY21), corporate income tax and other taxes and duties amounted to approximately EUR 5.5 billion. In addition, we collected substantial tax amounts on behalf of governments, such as value added tax and employee taxes. Over these 5 years, we’ve also created tens of thousands of jobs, directly in our IKEA stores and warehouses, and indirectly with our external suppliers, which in turn generate taxable income. 

Reciept IKEA

Effective corporate tax rate (ETR) FY17-FY21


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