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IKEA founder Ingvar Kamprad drops hint on company profits

IKEA founder Ingvar Kamprad drops hint on company profits

IKEA founder Ingvar Kamprad offered a rare glimpse into the Swedish furniture maker's profits in a Christmas speech, a local newspaper reported Thursday.
Kamprad, 80, said the privately held company paid some 6.5 billion kronor (euro720 million; US$950 million) in taxes in 2005, representing 25.3 percent of profits, according to newspaper Smalandsposten. Its reporter heard the speech last week in Almhult, where the first IKEA store was opened in 1958.
Based on those figures, the company should have made a profit of more than 25 billion kronor (euro2.8 billion; US$3.6 billion) last year, the paper said.
IKEA spokeswoman Charlotte Lindgren declined to confirm the figures, but said any numbers presented in the speech "would have been based on Ingvar's own calculations. This doesn't come from IKEA."
The company releases few financial details except for its sales figures, which it said were euro17.8 billion (US$23.4 billion) between Sept. 1, 2005 and Aug. 31, 2006.
Kamprad founded IKEA in 1943, but is now more of a figurehead than a hands-on executive for the company, which has 250 stores in 34 countries.
Daniel Rydstrom, the reporter quoting Kamprad, said it was not clear "what IKEA companies he was talking about since there are three of them ... But I would guess he talked about the whole IKEA group."
The concern is comprised of the Stichting INGKA Foundation, the parent group INGKA Holding B.V. and the IKEA Group.


Updated : 2021-07-30 14:24 GMT+08:00