IKEA Group of companies grows and creates new jobs in tough economic climate - Net profits FY11 up 10.3% to €2.97 billion
“Today, when nations and people face economic challenges, IKEA is more relevant than ever. We are committed to creating a better everyday life at home by offering beautifully designed and functional home furnishing solutions at affordable prices. In FY11 we continued to grow in both mature and emerging markets, we opened seven new stores and welcomed 4 000 new co-workers. Our profit is re-invested in the company and enables long-term innovation, such as finding better, more sustainable solutions and alternative raw materials,” says IKEA Group President and CEO Mikael Ohlsson.
IKEA works hard to build a more sustainable range. This includes responsibly sourced materials, smart design and better transport solutions. A fresh example is swapping traditional wooden pallets for newly designed paper ones. In FY11, IKEA continued to invest in renewable energy sources, such as wind parks and solar panels. Today, with 60 wind turbines and solar PV systems in 40 IKEA units, more than half of the energy is supplied through renewable sources.
The IKEA Foundation increased donations to approximately €65 million during FY11. The vision of the IKEA Foundation is to improve the opportunities of children and youth in the developing world to create a better future for themselves and their families. 100 million children will benefit from current programme commitments by 2015.
*The fiscal year 2011 of IKEA runs from September 1 2010 to August 31 2011