{"id":600398,"date":"2026-08-21T17:38:09","date_gmt":"2026-08-21T17:38:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/600398\/"},"modified":"2026-08-21T17:38:09","modified_gmt":"2026-08-21T17:38:09","slug":"ikea-irelands-profits-more-than-doubled-to-e15-75m-last-year","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/600398\/","title":{"rendered":"Ikea Ireland&#8217;s profits more than doubled to \u20ac15.75m last year"},"content":{"rendered":"<p>Pre-tax profits at the Irish arm of <a target=\"_blank\" rel=\"noopener noreferrer nofollow\" href=\"https:\/\/www.irishexaminer.com\/business\/companies\/arid-41827781.html\">Swedish furnishing giant Ikea<\/a> last year more than doubled to \u20ac15.75m despite revenues remaining flat due to consumer confidence here remaining subdued.<\/p>\n<p>New accounts just filed by Ikea Ireland Ltd show that the profits surged as revenues increased by only 0.36% from \u20ac246.46m to \u20ac247.33m in the 12 months to the end of August last.<\/p>\n<p class=\"\">The pre-tax profits of \u20ac15.75m last year are a 128% increase on the pre-tax profits of \u20ac6.9m for the prior year.<\/p>\n<p class=\"\">The directors state that the company \u201chad a strong financial performance\u201d as total retail sales reached \u20ac247.3m \u201cdespite a challenging economic backdrop where consumer confidence remained subdued due to continued pressure on household spend\u201d.<\/p>\n<p class=\"\">The directors state that Ikea recorded a 134% increase in operating profit to \u20ac16.45m \u201cdue to a return to more normalised levels of investment after a substantial \u20ac12m investment in a Central Distribution Centre (CDC) in FY24\u201d.<\/p>\n<p class=\"\">The directors state that overall, the company\u2019s gross margin increased slightly to 34.9% from 31% \u201cand this improvement was driven by better purchasing prices, optimisation of our fulfilment network, and cost efficiencies\u201d.<\/p>\n<p class=\"\">The directors state that FY25 \u201csaw targeted investments aimed at enhancing Ikea\u2019s accessibility for customers across Ireland\u201d.<\/p>\n<p class=\"\">The directors state this investment included the opening of the Waterford Plan and Order Point which marked the brand&#8217;s seventh of its kind and its largest outside of Dublin.<\/p>\n<p class=\"contextmenu caption\">Online sales up 10.4%\u00a0<\/p>\n<p class=\"\">The directors state that \u201conline sales rose by 10.4% year-on-year and now represent almost 40% of total sales. To support this momentum, Ikea strengthened its online fulfilment capabilities throughout the year.\u201d\u00a0<\/p>\n<p class=\"\">On future developments, the directors state that \u201cwe\u2019re on an expansion journey in Ireland. In FY25 we continued to build on the strong base of FY24 in terms of increased co-worker engagement, improved customer satisfaction and growth in market share\u201d.<\/p>\n<p class=\"\">The directors state that they believe that Ikea Ireland \u201cis well positioned for continued growth within the country\u201d.<\/p>\n<p class=\"\">The firm paid no dividend last year after paying out a dividend of \u20ac20m in 2024.<\/p>\n<p class=\"\">After taking into account net interest payments of \u20ac698,265, the firm recorded the pre-tax profit of \u20ac15.75m.<\/p>\n<p class=\"\">The firm recorded post-tax profits of \u20ac13.79m after incurring a corporation tax charge of \u20ac1.96m.<\/p>\n<p class=\"contextmenu caption\">Staff costs and directors&#8217; pay fell\u00a0\u00a0<\/p>\n<p class=\"\">Numbers employed by Ikea Ireland reduced by 38 from 744 to 708 as staff costs declined from \u20ac23.99m to \u20ac23.32m.<\/p>\n<p class=\"\">Aggregate pay to directors decreased sharply from \u20ac342,284 to \u20ac205,422.<\/p>\n<p class=\"\">The profits take account of non-cash depreciation costs of \u20ac3.82m while operating lease charges increased from \u20ac2.38m to \u20ac3.44m.<\/p>\n<p class=\"\">Shareholder funds totalled \u20ac46.37m, which included accumulated profits of \u20ac41.37m.<\/p>\n","protected":false},"excerpt":{"rendered":"Pre-tax profits at the Irish arm of Swedish furnishing giant Ikea last year more than doubled to \u20ac15.75m&hellip;\n","protected":false},"author":2,"featured_media":600399,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[49382,943,61,60,43],"class_list":["post-600398","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ireland","tag-consumer-affairs","tag-cost-of-living","tag-ie","tag-ireland","tag-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/600398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=600398"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/600398\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/600399"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=600398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=600398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=600398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}