Russian IKEA stores up revenue to 70 bln rubles in 2012
MOSCOW. July 17 (Interfax) - The Russian companies of Swedish retailer IKEA, which mange the IKEA stores and MEGA shopping malls, boosted consolidated revenue almost 28% in 2012 to 93.4 billion rubles.
The SPARK Interfax database shows that LLC Ikea Dom, which manages IKEA stores in Russia, posted revenue of 69.5 billion rubles, up 30.9%, and gross profit of 22.5 billion rubles, up 49.8%. Net profit was 6.7 billion rubles, up 140% from 2.8 billion rubles in 2011.
LLC Ikea Mos, which manages the MEGA shopping malls, increased revenue 19.5% to 23.8 billion rubles. Gross profit went up 7.6% to 11.95 billion rubles and net profit was 7.9 billion rubles against 761.5 million rubles the previous year.
Consolidated revenue jumped 27.7% to 93.4 billion rubles from 73.1 billion rubles.
LLC Ikea Torg, which handles wholesale trade of textiles and furniture production, increased revenue 21.7% to 45.2 billion rubles. Gross profit was 4.8 billion rubles, against 4.35 billion the previous year. Net profit increased to 1.6 billion rubles from 1.5 billion.
Company revenue in the year ending August 31 2012 grew 9.5% to 27 billion euros. IKEA sales climbed 29% in Russia, the company said earlier. The Russian stores had 61.5 million customers in the year. As a result Russia was one of the company's top five countries for performance.
IKEA operates in Russia since 2000. The chain currently has 14 MEGA shopping malls with IKEA stores in Russia.