An update from our Group CFO

With increased interest rates and a high inflation environment, 2023 was a challenging year for our customers and for us, particularly in connection with our real estate and retail businesses. However, thanks to the strong focus and commitment from our co-workers, we delivered a stable turnover of EUR 1.9bn compared to 2022.

In these tough times, we continue to invest in making affordable home furnishing accessible to the many people. We opened our third IKEA store in Bangkok, Thailand, during the last quarter of 2023, and the construction of the Guadalajara IKEA store in Mexico is progressing very well (to be opened in 2024). These investments are just a few examples of the total investment of EUR 250 million made by the Ikano businesses.

Ikano Group continues to help and assist the communities in which we operate – in 2023, we donated EUR 1.3 million to several different charity initiatives.