The Ikea Group's net income increased by 3.1% to €3.3b for the financial year 2013 (to 31st August 2013), and market conditions continued to improve, reports the retailer, with strong growth in China, Russia and the US.

“Consumer spending is improving in many countries," says president and CEO Peter Agnefjäll. "While the challenging economic situation may not be over, there are positive signs. Important consumer markets such as the US are coming back and Europe in general is starting to recover. Even some of the challenging markets in Southern Europe are showing good signs of activity.”

Sales increased by 3.1% from last year to €27.9b, and the Ikea Group gained market share in almost all markets. Together with the rental income from shopping centres, the total revenues amounted to €28.5b (+3.2%). The largest markets were Germany, the US, France, Russia and Sweden.

“This indicates that value for money is increasingly important," continues Peter. "I’m especially happy to see customers embracing our range of products designed to help them live a more sustainable life at home. For example, customers bought more than 22 million LED products in FY13 alone, saving them energy and money."

The Ikea Group has an ambitious growth agenda, aiming for €50b in sales by 2020. It states that the large emerging markets are important sources of future growth. In FY13, the Ikea Group opened two more stores in China – another step in expansion in the Chinese market.

“We have a long-term focus. We’ll keep developing better products at lower prices, improving the shopping experience and becoming more accessible to our customers, for example through an improved service offer, e-commerce and continued expansion. Our ownership structure and sound financial principles give us independence and the possibility to grow in a balanced and sustainable way,” says Peter.

The Ikea Group Yearly Summary FY13 and the Ikea Group Sustainability Report FY13 are available from www.ikea.com.