Just as we kicked the year off strongly, the Corona virus emerged out of nowhere! It has not been easy, and I’m humbled by our colleagues who have tirelessly delivered despite the challenging circumstances. Thanks to them, we successfully made it through 2020.
The pandemic hit hard on IKEA Southeast Asia & Mexico, with closed stores and multiple Covid restrictions, but our retail teams adapted and almost overnight, transformed our stores and shopping centres to fulfil the growing number of web orders and deliveries. The team has also done an incredible job in preparing for store openings in 2021 in Mexico, Singapore and the Philippines.
Ikano Bostad achieved record sales of apartments in both Sweden and Denmark and Ikano Bank continued its important digital transformation. As a Group, we established a much closer cooperation with different IKEA organisations thanks to future common projects. One example is a new partnership opportunity that several co-workers worked to develop between Ikano Bank and Ingka Group. Add to this, our Insurance team continues to bring HEMSÄKER home insurance to more of the many in new markets, a product that is now part of the new IKEA financial services strategy.
Even with several months of marginal production in Poland, Ikano Industry ended the year strongly but in the process the team implemented necessary actions to reduce operational cost, adjust the supply chain and align direct and indirect costs with the current market situation. At the same time Ikano Industry has successfully managed to start up some production in the new factory in Saltillo, Mexico.
2020 was especially challenging for Ikano Insight, as many clients had other priorities than data and analytics. But the team steamed ahead and kept servicing the clients’ needs despite the UK lockdown and we are seeing tremendous progress with clients across several industries.
The pandemic only made it clearer that people are our greatest asset. Fact is, in times of crisis, we have the responsibility to act in the best interest of our co-workers, customers, and other stakeholders. We therefore made it a priority to manage and retain talent while controlling cost as the outmost importance. Finding new ways of working and reinventing business-as-usual while complying with local labour laws to ensure we put health and safety of our co-workers first.
During 2020, we contributed EUR 800,000 to more than 32 local initiatives across our Ikano countries, providing much needed Covid-19 emergency relief to vulnerable people who have it even worse in times of the pandemic. This was a Group-wide effort and one we are proud to share with the world!
Sustainability is one of our top priorities for the year ahead, and in October, we hosted a digital event, where all our 7,000 co-workers were invited to take part in this crucial journey to become a truly sustainable group of companies.
As we turn the page on 2020 and cautiously look toward 2021, the pandemic will undoubtedly continue to present unforeseen challenges. Together, we’ve come a long way and we will continue to stay alert and act smartly - and most importantly we will remain hopeful for the future.
We are who we are because of our values and culture. Three strong values guide all our Ikano businesses:
The values support our promise to be on fair terms.
We want our customers, partners and co-workers to choose us for what we stand for, what we deliver and how we deliver it. We have built our own identity, but our constant drive to simplify people’s lives and our cost-conscious mindset remain the same.
As a safety engineer, my most important task is to support and create the conditions for our business and co-workers to work in a safe and healthy way.
No one should get hurt or sick because of their work. It gives me a lot of energy to be able to work with health and safety in an organisation where we truly care for each other, and I feel fortunate to be involved in developing this as part of Ikano Bostad’s operations. This has been especially important during 2020 as we all fought and are still fighting to prevent the spread of Covid-19.
At Ikano Bostad, not only do we build great homes for the many people, but also create efficient and stable workplaces for our co-workers. For us, everyone’s skills and experiences are equally important and needed to develop our company. During my three years here, I feel that I’ve developed both in my professional role and as a person. Now, I look forward to exciting times ahead. Together, we work for a safe and healthy workplace!
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We create possibilities for better living by offering simple, fair and affordable services, enabling a healthy economy for the many people. Our offer to consumers includes private label cards, credit cards, savings and loans. We deliver sales, finance and customer insight services to retail partners and provide businesses with leasing and factoring solutions. We aim to grow significantly in the coming years by becoming a truly digital and entrepreneurial-driven bank – providing solutions that simplify people’s everyday life and help businesses grow.
Deposit accounts: 222,000
Leasing contracts: 68,000
Private label cards: 2.4 million
Visa / Mastercard: 735,000
No. of co-workers: 1,501
Business volume: 6.1 billion
Ikano Bank AB operates in Austria, Denmark, Finland, Germany, Norway, Poland, Sweden and the UK. Ikano Bank LLC operates in Russia.
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We offer space efficient, functional and sustainable homes at affordable prices for people at all stages of life. We develop, build, own and manage tenant-owned apartments, rental apartments, townhouses and nursing homes. We look for new ways to improve not only the homes we offer, but also the surroundings. We want to create communities where people meet, greet and look after one another. A place where people feel at home from the moment they step into their courtyard.
No. of co-workers: 441
Turnover: 403 MEUR
Market value of properties and landbank: 1,788 MEUR
Apt./townhouses under contruct.: 1 516
Rental apt.: 5 933 (447 507 sq.m)
Nursing homes: 6 (367 apt, 28 105 sq.m)
Offices: 2 (24 823 sq.m)
Landbank: 157,000 sq.m
Building rights: 10,000 (all phases)
Sweden: Gothenburg, Lund, Malmö, Stockholm, Uppsala, Västerås
Denmark: Copenhagen area
Ikano Industry aims to be IKEA’s leading supplier of mattresses and related products. Combined, our two facilities in Rogoźno and Krajenka, Poland, create one of the largest and most modern mattress production lines in Europe. We have also started establishing a manufacturing site in Mexico and have some 200 co-workers in place. Over the next years, we will grow with even more co-workers and extend our markets to also include the Americas. Our focus is quality and sustainablity in everything we do while our company culture, characterised by teamwork and innovation, leads us forward.
No. of co-workers: 1,074
Turnover: EUR 103 million
Europe, Saudi Arabia, Qatar, Kuwait, Arab Emirates, Turkey, Israel, the Americas
Ikano Re and Ikano Insurance Advisory provide reinsurance solutions and advisory services for the global operations of actors within the IKEA franchise system. Our offering covers areas such as transportation, property, liability and employees.
No. of co-workers: 13
Gross premiums written: EUR 82 million
We are a data insight and business intelligence agency. We transform everyday customer and business data into meaningful, actionable insights by making the complex simple across three key areas of expertise: Business Intelligence, CRM & Engagement and Advanced Analytics.
No. of co-workers: 28
Australia, Czech Republic, Denmark, France, Germany, Hungary, Malaysia, Mexico, Norway, Polan, Russia, Singapore, Slovakia, Sweden, Switzerland, Thailand, UK
We create a better everyday life for the many people through our IKEA meeting points and Ikano Centres, offering a great day out and affordable home furnishings in Singapore, Malaysia, Thailand and Mexico. Our entrepreneurial team has ambitious plans to expand into new markets, inspires people to make home count and helps lead the movement toward sustainable living.
No. of co-workers: 3,897
Turnover: 686 million EUR
No. of catalogues released: 3.5 million
No. of visits: 21.3 million
No. of children to Småland: 26,686
No. of meatballs sold: 26.3 million
No. of chicken balls sold: 1.6 million
No. of veggie balls sold: 0.5 million
No. of plant balls sold: 0.3 million
No. of visits: 52.1 million
Gross leasable m2: 544,000 incl. IKEA stores
No. of rented units: 1,732
1.7 million1.8 million1.9 million2.0 million2.1 million2.2 million2.3 million2.4 million
1 million2 million3 million
I realise how fulfilling it is to work for a company where the challenges we face do not limit us, but where our limits are challenged, and in a fully respectful way.
After four years of working at IKEA, I can easily share instances when I have seen our values in action. IKEA values, for me, live in the “everyday” through small deeds, decisions, and how we interact with each other. I could never have imagined how the same values would move major areas of our business and on such a wide scale until last year.
Situations like a pandemic put an organisation’s culture to the test, and how IKEA responded to COVID-19 really made our values shine. We came together to reinvent the stores by turning them into fulfilment centres. It might have been easier to just wind down our operations, but IKEA took responsibility, and by doing so provided job security to our many co-workers.
We met obstacles along the way, but also delivered that much-needed MICKE work desk, furnishing for quarantines, cookware for the new home chefs, and thousands of MÅLA easels to parent-teachers and their now home-schooled kids. Like many co-workers, I feel proud to be part of a company that has found a way to create better everyday lives for those who equally felt overwhelmed by the global crisis.
It was only natural to stay true to our IKEA values and vision during such a challenging time. When company values connect with the co-workers at such a personal level, you know that it is special—something that truly makes a difference.
While the pandemic hasn’t passed, I realise how fulfilling it is to work for a company where the challenges we face do not limit us, but where our limits are challenged, and in a fully respectful way.
IKEA Batu Kawan
IKEA Bang Yai
Batu Kawan Link Building
Over the year, the pandemic presented numerous challenges to all our Ikano Group companies. But it also became clear that we are resilient. In the face of tough trading and economic conditions, Ikano Group successfully maintained its turnover level of EUR 1.6bn (same as in 2019), and kept a sound financial solidity. We continued to invest in our businesses, allocating EUR 140 million to Ikano Bostad, Ikano Industry and Ikano Retail, to ensure sustainable growth. In addition to our annual contribution of EUR 2 million to various charitable causes, we donated an additional EUR 800,000 to those badly hit by the Covid-19 outbreak.
Jean Champagne Group Head of HR
Kajsa Holst Group Sustainability Manager
Lars Thorsén Group CEO
Marie Gällstad Group Head of Communication
Mats Håkansson Group Vice President
Group Head of Internal Audit,
Operational Risk and Compliance
Yohann Adolphe Group CFO
Christian Roejkjaer Ikano Retail
Henrik Eklund Ikano Bank
Karen Pflug Ikano Insight
Robert Jaaniste Ikano Bostad
Sebastian Luczynski Ikano Industry
Tomas Wittbjer Ikano Re Ikano Insurance Advisory
Thank you for reading our Ikano Facts & Figures. 2020 was an extremely difficult year for all but togetherness, a strong culture and everybody’s hard work helped us get through it. We could not have done it without you!