Ikea accounts show the retail stores in Ireland grew turnover by 7.9% to €191m in the year to August 2021, though operating profit was static at €4.5m.
The profit figure was arrived at after accounting for a deprecation charge of €2.4m, down €1.2m on the prior year.
According to an accounts filing, the Scandinavian retailer operates off a gross margin of 25% and a net margin of c.3.6%.
Annual payroll and other overheads increased marginally to €43.8m in 2021/21. Average employment through the financial year was 699 people, the same as the previous year, indicating that Ikea maintained employment through all stages of the pandemic.
The wages and salaries cost for the year, excluding social insurance, was €15.8m, for 650 shop and warehouse staff and 49 managers. That’s an average of €22,600 per employee.
In Association with
Pension contributions for employees paid by the company amounted to €350,000, an average of €500 per person.
Ikea Ireland Ltd paid its Swedish parent €3m in dividends, down from €5m in 2019/20.
