IKEA — in detail

Full extracted data, every event in the company's history we've captured, and (soon) external news. The full ratios diagnostic with peer benchmarks lives at /ratios.

Reference sources (1/5)

Source documents
Recent disclosure
Multi-year metrics
Targets
Certifications

External news

No ESG-relevant news ingested yet for this company. Run python -m pipeline.news_gdelt to backfill. Sourced from GDELT 2.0 (3-month trailing window).

Data by year· every metric + key events per year

Each year shows the firm's reported metrics on the left and the most material events on the right. Up to 10 events per year; the full event log is one click further.

2025

annual report ↗sustainability report ↗

Social

workforce female pct	45%
workforce management female pct	39%
workforce board female pct	29%
employee turnover pct	11%
gender pay gap mean pct	2% (adjusted)
h s fatalities	1count
h s total recordable injury rate	4per 1000000 hours
training hours per employee	86% participated in reviews

Governance

board diversity pct	29%
esg linked executive pay yn	0binary

Circularity

recycled content input pct	97% (FSC or recycled)
renewable materials input pct	19% recycled fibres of wood/paper

P&L highlights (USD)

Headcount (FTE)	27,762people
Revenue	26.3B
Cost of revenue	(21.3B)
Gross profit	5B
Total operating expenses	(24.6B)

Balance sheet highlights (USD)

Property, plant & equipment	2B
Total assets	22.1B
Total debt	215M
Cash & equivalents	2.9B

Events 2025· 29

Acquisition of ~8,000 hectares of forest land in Latvia

In FY25, the Group acquired full ownership of two companies in Latvia engaged in acquisition, cultivation and maintenance of ~8,000 hectares of forest land, primarily to govern wood supply in the Baltics and develop responsible forest management methods.

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IKEA Sustainability Strategy revised to OKR methodology for 2030

In FY25, Inter IKEA Group revised its sustainability strategy, shifting from ambitions and commitments to an 'objectives and key results' (OKR) methodology. OKRs are set for 2030 and organised into three focus areas: Healthy & sustainable living, Climate/nature/circularity, and Fair & equal.

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Climate objective aligned to 1.5°C pathway with carbon removals target

The revised sustainability strategy sets a climate objective to reduce emissions in line with a 1.5°C pathway, increase carbon removals and storage, and contribute to broader societal climate change mitigation and adaptation efforts.

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New CEO appointment effective 1 January 2026

The composition of the Management Board will change on 1 January 2026 when the new CEO starts. The Supervisory Board added one member on 1 August 2025, bringing it to seven members.

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US tariffs causing supply chain cost volatility in H2 FY25

Uncertainties around US trade caused turmoil and volatility on commodity markets from the second half of FY25, with price increases subsequent to tariff announcements. Effective tax rate increased by 3.8% vs prior year mainly due to lower profitability in Switzerland from high supply chain costs connected to US tariffs.

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Primary: Emissions reduction in line with 1.5°C pathway across IKEA value chain

Inter IKEA Group's revised sustainability strategy sets a climate objective to limit the impact of the IKEA value chain on global warming by reducing emissions in line with a 1.5°C pathway. This objective is formalised under the OKR methodology with 2030 key results. The strategy also includes increasing carbon removals and storage, and contributing to broader societal climate change mitigation and adaptation efforts.

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Carbon removals and storage as explicit climate objective

The revised IKEA Sustainability Strategy explicitly includes increasing carbon removals and storage as a key component of the climate objective, alongside emissions reductions. The acquisition of approximately 8,000 hectares of forest land in Latvia also contributes to responsible forest management and carbon storage within the IKEA value chain.

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Dependent: Responsible forest management and wood supply governance via forest acquisition

In FY25, the Group acquired two companies in Latvia comprising ~8,000 hectares of forest land to govern part of its wood supply in the Baltics and develop new methods for responsible forest management within the IKEA value chain. This is a supply-chain lever addressing upstream raw material sustainability, particularly for IKEA Industry's wood-based furniture production which accounts for ~10% of the total IKEA range.

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Primary: Circular design and sustainable manufacturing to reduce material footprint

Inter IKEA Group is transitioning towards a circular business by applying circular design principles and offering products and services enabling reuse, repair, refurbishment and recycling. In FY25, IKEA Components replaced plastic fitting bags with paper-based alternatives produced using paper from production waste, targeting complete phase-out of plastic consumer packaging by 2028. Alternative designs for mattresses and sofas using renewable and recycled foam content proved successful, with a pilot pocket spring mattress using majority recycled components being set up in Europe.

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Dependent: Supplier sustainability via IWAY code of conduct

The Group enforces environmental and social conditions across its supply chain through IWAY, its supplier code of conduct, which has been regularly updated since 2000 to address emerging social and environmental risks. Verification activities range from gap assessments for new suppliers to full audits for existing suppliers, with business relationships terminated for persistent non-compliance. Approximately 90% of IKEA products are sourced from external suppliers, making supply chain decarbonisation a critical lever.

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see 19 more events →

2024

sustainability report ↗annual report ↗

Social

workforce female pct	44%
workforce management female pct	37%
workforce board female pct	33%
employee turnover pct	11%
h s fatalities	0count
h s total recordable injury rate	4per 1000000 hours

Governance

board diversity pct	33%
esg linked executive pay yn	0

P&L highlights (USD)

Headcount (FTE)	23,892people
Revenue	26.6B
Cost of revenue	(21B)
Gross profit	5.5B
Total operating expenses	(24.2B)

Balance sheet highlights (USD)

Property, plant & equipment	1.8B
Total assets	22.5B
Total debt	218M
Cash & equivalents	4.2B

Events 2024· 12

Agreement to acquire IKEA retail Baltics from Hof Group

On 23 August 2024, Inter IKEA Group reached an agreement with Hof Group to acquire IKEA retail operations and real estate in Estonia, Lithuania and Latvia. Combined Baltic businesses had total asset value of EUR 205 million on 31 Aug 2023 and FY23 revenue of EUR 314 million with ~1,450 co-workers. Awaiting European Competition Authority approval; not yet consolidated.

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Termination of treasury services with Interogo Holding AG

In May 2024, Inter IKEA Group settled all accounts receivable and payable with Interogo Holding AG and terminated the treasury agreement. Treasury and working capital funding now managed in-house, resulting in significant cash inflow and reduced interest expenses.

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Opening of 56 new IKEA sales locations including Colombia market entry

In FY24, IKEA opened 56 new sales locations including expansion into Colombia with two new stores and e-commerce, plus new large stores in Maebashi (Japan), Riddes (Switzerland) and smaller-format stores in multiple markets.

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Partnership with IOM on migrant worker conditions

IKEA Supply AG announced partnership with The International Organization for Migration (IOM) in FY24 to improve working and living conditions of migrant workers across the IKEA supply chain through capacity building on ethical and responsible recruitment.

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Transition from plastic to paper packaging

Since 2020, IKEA has been eliminating plastic from packaging. In FY24 transitioning fitting bag packaging from plastic to paper across products including BRUKSVARA, BRIMNES, IVAR, NYSJÖN and METOD, following successful tests with TUSSÖY mattress toppers.

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Primary: Plastic-to-paper packaging transition

Since 2020, IKEA has been working to eliminate plastic from its packaging. Following successful tests with TUSSÖY mattress toppers in paper packaging, the company is extending paper packaging solutions to other categories. Fitting bag packaging is being transitioned from plastic to paper across products including BRUKSVARA, BRIMNES, IVAR, NYSJÖN and METOD.

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Dependent: Supply chain — 90% external sourcing from 800+ suppliers

Inter IKEA Group manufactures about 10% of the IKEA product range (mainly wood-based furniture) and sources the remaining 90% from over 800 external suppliers globally. IKEA Supply AG manages the supply chain together with transport service providers, warehouse providers and customs brokers. The partnership with IOM aims to improve conditions for migrant workers across this supply chain.

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Settlement of all Interogo Holding AG receivables and payables; EUR 4.8bn cash inflow

In May 2024 all accounts receivable and payable with Interogo Holding AG were settled, generating a EUR 4.8 billion cash inflow for Inter IKEA Treasury B.V. and eliminating the EUR 3,230m receivable previously on the balance sheet.

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Agreement to acquire Baltic retail operations and real estate from Hof Group

On 23 August 2024, the Group signed an agreement to acquire IKEA retail and real estate operations in Estonia, Lithuania and Latvia from franchisee Hof Group. Total asset value EUR 205m (FY23), revenue EUR 314m (FY23), ~1,450 co-workers. Pending European Competition Authority approval; expected to close within 4-6 months.

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Organisational restructuring and recruitment stops reduce FTE by ~4%

Recruitment stops and organisational restructurings in FY24 reduced average FTE from 24,944 (FY23) to 23,892 (FY24), a reduction of ~1,052 FTEs, helping stabilise costs despite inflationary pressures.

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see 2 more events →

2023

annual report ↗

Governance

board diversity pct

33%

P&L highlights (USD)

Headcount (FTE)	24,944people
Revenue	29.1B
Cost of revenue	(23.8B)
Gross profit	5.3B
Total operating expenses	(26.8B)

Balance sheet highlights (USD)

Property, plant & equipment	1.7B
Total assets	23B
Total debt	232M
Cash & equivalents	169M

Events 2023· 11

Divestiture of 4 Russian IKEA Industry production units

IKEA Industry divested its 4 Russian production units, concluding the process at end of March 2023. Assets had been impaired in FY22. The sale generated a gain in FY23 but combined with FY22 impairments resulted in a net accumulated loss. FTE reduction from 27,331 to 24,944 was mostly driven by this divestment.

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Primary: Bio-based glue substitution to cut fossil-based adhesive use by 40%

Finding new glue solutions is one of the main approaches to reducing the IKEA climate footprint, as most glue consumption is used in board production. IKEA is switching to bio-based alternatives to reduce fossil-based glue usage by 40%, with a goal to have most board-producing factories using lower-climate-footprint glues by FY30. The first IKEA Industry factory in Kazlu Ruda, Lithuania is already using a glue system made of technical starch from corn in large-scale production, with multiple parallel trials of other glue systems underway.

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Shareholder restructuring - ownership transferred to Inter IKEA Foundation

In FY23, ownership of Inter IKEA Group was transferred from Interogo Foundation and Interogo Holding AG to Inter IKEA Foundation. Outstanding long-term loan payable was transferred through capital contribution, reducing non-current liabilities to near zero and eliminating EUR 324 million annual interest expense.

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Supplier renewable electricity programme expanded to 10 new countries

Programme launched in June 2021 enabling supply partners to access 100% renewable electricity through bundled frame agreements or PPAs. Expanded to Czech Republic, Germany, Italy, Sweden, Turkey, Lithuania, Portugal, Romania, Slovakia, and Vietnam due to high supplier interest.

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Board gender diversity target: 40% least-represented gender by 2030

Inter IKEA Holding B.V. and Inter IKEA Systems B.V. set a target of at least 40% of the least-represented gender on their Management Boards and Supervisory Boards by end of 2030, with 50% female/male representation in sub-top management teams by the same date.

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Primary: Manufacturing and production energy efficiency improvement

The Group is constantly looking for new ways to make production more sustainable and energy-efficient across its 33 production units. Almost two-thirds of the IKEA climate footprint is directly connected to the supply chain, including production at suppliers. Investments were made in FY23 in extending or improving existing production units, and a new distribution centre in South China was taken into operation.

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Ownership transfer to Inter IKEA Foundation and EUR 8.3bn capital contribution

On 31 August 2023, ownership and control of Inter IKEA Holding B.V. was transferred from Interogo Foundation and Interogo Holding AG to Inter IKEA Foundation. Inter IKEA Foundation subsequently made a capital contribution of EUR 8.3 billion (comprising EUR 5.4bn loan converted to equity and EUR 2.8bn cash), eliminating the large related-party loan and transforming the balance sheet.

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Switching to bio-based glue to reduce fossil-based glue usage by 40%

IKEA announced a shift from fossil-based to bio-based glue alternatives targeting a 40% reduction in fossil-based glue usage. Goal is to have most board-producing factories in the IKEA supply chain using lower-climate-footprint glues by FY30. First factory in Kazlu Ruda, Lithuania now using technical starch from corn at scale.

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Ownership transfer from Interogo Foundation to Inter IKEA Foundation; EUR 5,400m loan repaid

During FY23 a restructuring transferred 100% ownership from Interogo Foundation/Interogo Holding AG to Inter IKEA Foundation. The outstanding loan payable of EUR 5,400m was transferred via capital contribution, reducing non-current liabilities to near nil and dramatically lowering interest expenses in FY24.

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Supplier renewable electricity access via PPAs and bundled frame agreements

In June 2021, the Group launched a programme enabling supply partners to consume 100% renewable electricity through bundled frame agreements or Power Purchase Agreements (PPAs) that the Group participates in. Due to high supplier interest in pilot countries and the contribution to limiting carbon footprint, the programme was extended to suppliers in Czech Republic, Germany, Italy, Sweden, Turkey, Lithuania, Portugal, Romania, Slovakia, and Vietnam. This is a dependent lever targeting the ~two-thirds of IKEA's climate footprint that is directly connected to the supply chain, including production at suppliers.

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see 1 more event →

2022

P&L highlights (USD)

Headcount (FTE)	27,331people
Revenue	27.3B
Cost of revenue	(23.4B)
Gross profit	3.9B
Total operating expenses	(26.5B)

Balance sheet highlights (USD)

Property, plant & equipment	1.7B
Total assets	24.7B
Total debt	5.7B
Cash & equivalents	184M