Annual Report 2013 in brief Page 1 of 2
2013 Inter IKEA Group Annual Report released
Luxembourg June 17, 2014
In a rather tough business climate, the IKEA Concept continued
to show good
strength. Inter IKEA Group continued to make long term
investments in order to
secure independence and longevity of the group and the IKEA
Concept.
Inter IKEA Group total revenues increased by 7.4%, to 2,856
million in 2013. Net profit
increased with 70 million to 516 million. Investments continued,
with capital
expenditures around 880 million.
- We know that it still is tough times for many people. Rather
than being happy about
earnings on a certain level I am happy to see that the IKEA
Concept developed well.
Its however important that we dont take anything for granted and
keep working
hard to improve all our businesses. Its also good to see how our
investments in
difficult times are helping businesses to develop and grow, says
Sren Hansen, CEO
of Inter IKEA Group.
The purpose of Inter IKEA Group is to secure continuous
improvement and a long life of
the IKEA Concept. As this will require investments in both good
and bad times we strive
to be financially independent.
Generally we continued to see a tough business climate in
Europe. In the second half of
2013 some pick-up in the retail activity could be seen, but its
still unevenly spread
between countries. Demand for IKEA products also improved over
the year in Europe. We
continue to see strong growth in North America, Asia Pacific and
especially in the Middle
East.
During 2013 worldwide IKEA retail sales increased by 4.2% (in
local currencies).
Franchise fees increased by 1.2% (consolidated in Euro).
The investment in real estate development continued as planned,
and increased in both
the Retail Centre Division and the Property Division. Good
performance in the Finance
Division contributed to the increased profit.
Inter IKEA Group paid 76.6 million (14%) in corporate income
taxes in 2013. In
addition our different companies paid significant amounts in
local taxes such as property
and other business related taxes.
Numbers in brief, million 2013 2012
Total revenues 2,856 2,660
Net profit 516 446
Total assets 16,059 14,950
Equity 8,039 7,529
Co-workers (year average) 1,754 1,644
Annual Report 2013 in brief Page 2 of 2
Inter IKEA Group is organized in four divisions.
Franchise Division
The Franchise Division includes Inter IKEA Systems B.V,
worldwide IKEA franchisor and
owner of the IKEA Concept, including the IKEA trademarks. The
division has the overall
responsibility to safeguard the continued success of the IKEA
Concept throughout the
world.
Franchise fee income increased in line with global IKEA retail
sales. Franchisees opened
ten new IKEA stores during the year, including one relocated
store.
Retail Centre Division
The Retail Centre Division Inter IKEA Centre Group A/S (IICG) -
develops and manages
retail destinations for the many people, anchored by IKEA
stores. Inter IKEA Group is the
majority owner of IICG.
The expansion in Europe remained selective due to market
limitation. Three retail centres
are being built in China two are scheduled to open in 2014 and
one in 2015. Revenue
was 164 million in 2013, compared to 204 m in 2012. The drop is
due to the sale of
retail centres in Austria during 2012. On a like for like basis,
rental income increased by
2.2% during 2013.
Property Division
The goal of the Property Division Vastint Holding B.V is to
create long-term value
through property investments. The division actively manages
developed properties in the
Netherlands, Poland, Belgium, Lithuania, Latvia and the UK.
Investment continues and the division has more than 100.000
square meters of offices
and hotels under development, and also owns land for future
development. Total
revenues increased by 33% in 2013, mainly as a result of
completed projects and
refurbishments.
Finance Division
The Finance Division supports the Inter IKEA Group in
maintaining financial independence
through long term investments.
Asset under management was 2.3 billion, compared to 2.1 billion
in 2012. In line with
an overall positive development of financial markets, the
division produced a good return
during the year.
For more information about Inter IKEA Group, please see our
website www.inter.ikea.com
The Inter IKEA Group Annual Report 2013 can be ordered on the
website
Press contact Inter IKEA Group
Kristian Sjholm
+32 486 040 963
[email protected]
