More expensive input goods, tariffs and a major focus on reduced prices hit margins hard, while sales volumes increased.
Operating profit for the financial year fell to around 1.7 billion euros.
We ended up very close to the goal, where we wanted to be, says CFO Henrik Elm to Bloomberg.
The group's gross margin fell from 16 to 14 percent.
Turnover was stable at EUR 26.3 billion, while sales volume increased by 6 percent due to stock building among retailers and strengthened offering.
Ahead of the publication of the financial statements for the financial year, Inter Ikea has announced that it has made major purchases of forest properties in Latvia to secure long-term access to wood products. Investments have also been made in a factory to recycle wood and in sustainability and digitalization, according to Ikea.
