IKEA LIMITED

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

1. IKEA LIMITED 1994-05-27 → present
2. IKEA PROPERTIES LIMITED 1994-05-20 → 1994-05-27
3. DREAMSHIELD LIMITED 1986-02-05 → 1986-03-21

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have a reasonable expectation the Company has adequate resources to continue in operational existence and meet its liabilities as they fall due for at least 12 months post approval of the financial statements. Accordingly, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.”

Group structure

1. IKEA LIMITED · parent
   1. IKEA Properties Investments Limited 100% · UK
   2. IKEA Distribution Services Limited 100% · UK
   3. IKEA Leasing Limited 100% · UK
   4. IKEA Energy Services Limited 100% · UK
   5. Dummuies Windfarm Huntly Limited 100% · UK

Significant events

• “In FY24, IKEA UK invested £10.3m to provide a 10% uplift in base pay for hourly-paid co-workers and a 5% uplift for salaried co-workers, enhancing their financial stability.”
• “IKEA remains the largest accredited Living Wage Foundation retailer, adopting the voluntary new Real Living Wage, increasing hourly-paid rates to £13.15 in London, £12.60 in Outer London and £12 throughout the rest of the UK.”
• “In FY24, co-worker annual turnover significantly reduced to 25% compared to 40% two years prior.”
• “Through our UPPNÅ Skills for Employment program, we exceeded our target of providing 45 placements across the UK.”
• “In September 2024, we launched our UNWELCOME HOME campaign with national charity partner Shelter, highlighting the living conditions experienced by some children living in temporary accommodation.”
• “We invested over £117m to lower the price of some of our most popular products in FY24, with reductions made on approximately 33% of the range.”
• “In FY24, we significantly grew our fleet of electric vehicles, with 65% of all last mile customer deliveries fulfilled by EVs in August 2024 (August 2023: 25%).”
• “We announced the trial of a second-hand online marketplace in FY24, IKEA Pre-owned, where our customers can sell used IKEA products, promoting a circular solution to the disposal of home furnishings.”
• “Our Buyback & Resell service grew more popular in FY24 with 25,577 customers choosing to sell their old IKEA products back to us in exchange for store credit.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

9

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -6.7%

  £2,464,922,000 → £2,300,584,000

• Cash

  +1.1%

  £542,000 → £548,000

• Net assets

  -66.1%

  £370,142,000 → £125,316,000

• Employees

  -3.4%

  10,282 → 9,931

• Operating profit

  -65.4%

  £111,238,000 → £38,433,000

• Profit before tax

  -43.6%

  £127,964,000 → £72,186,000

• Wages

  -9.1%

  £244,669,000 → £222,478,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers