Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Tunisian Foreign Ministry: We renew our call for an immediate end to the escalation in all parts of Libya.
Tunisian Ministry of Foreign Affairs: We express our deep concern over the dangerous security developments in the Libyan capital.
Reports: The wounded is an Israeli occupation forces officer.
Reports indicate that a 25-year-old man was wounded and that the man behind the operation was "neutralized".
Reports indicate a stabbing operation took place at the Chain Gate (Bab al-Silsila Minaret) in the al-Aqsa Mosque compound in occupied al-Quds.
Iran MFA: Iran has not received any written proposal from the US on the nuclear deal, whether directly or indirectly.
Al Mayadeen correspondent in Yemen: Israeli aggression targets the port of As-Salif, Hodeidah governorate.
Reuters: The Russian and Ukrainian delegations met in Istanbul
Al Mayadeen's correspondent: 72 martyrs in Israeli raids on the Gaza Strip since dawn today
Al Mayadeen's correspondent: Iran maintains that its talks with the Europeans and its indirect negotiations with the United States are proceeding on separate tracks

Owner of IKEA stores sees profit fall post-Russia exit

  • By Al Mayadeen English
  • Source: Agencies
  • 25 Nov 2022 15:31
1 Min Read

Ingka’s net profit for the fiscal year that ended in August 2022 dropped to $299 million, down from 1.6 billion euros in 2021.

  • x
  • Ikea shop (Reuters)
    Ikea shop (Reuters)

Ingka, the owner of the majority of IKEA stores, announced a more than fivefold decline in yearly net profit on Friday due to increased interest rates and its pullout from Russia.

The company's net profit for the fiscal year that ended in August 2022 dropped to $299 million, down from 1.6 billion euros in 2021.

Related News

Russia-Ukraine talks in Istanbul show unexpected progress: Turkey

Russia, Afghanistan talk rare-earth metals cooperation

The reduction was caused mostly by increased interest rates, which impacted its financial sector assets. In order to combat rising inflation, central banks around the world have raised interest rates.

"The net income was also impacted by the effects of scaling down operations in Russia," the company said as quoted by AFP.

It is worth noting that Inter Ikea, the holding company of the furniture giant, also disclosed a substantial decline in profits due to inflation and the departure from Russia.

Read more: Poll: Over 40% of Russians expect Western companies to return within year

  • Ingka
  • Ikea
  • Russia
  • Sanctions on Russia

Most Read

Two F-35 jets arrive at it's new operational base Wednesday, Sept. 2, 2015, at Hill Air Force Base, in northern Utah. (AP)

F-35 near-misses over Yemen signal new risks for 'Israel': Forbes

  • Politics
  • 14 May 2025
Palestinians pray over bodies of people killed in the Israeli bombardment who were brought from the Shifa hospital before burying them in a mass grave in the town of Khan Younis, southern Gaza Strip, Wednesday, Nov. 22, 2023. (AP )

Gaza casualty figures mask a much bigger horror, new study shows

  • Politics
  • 11 May 2025
Gaza and the logic of necropolitics: Sovereignty measured by killing

Gaza and the logic of necropolitics: Sovereignty measured by killing

  • Politics
  • 15 May 2025
Abu Obaida

Abu Obeida posts shortly after Israeli reports about his assassination

  • Palestine
  • 15 May 2025

Coverage

All
Gaza prevails against genocide

Read Next

All
Israeli media: Yemen may push 'Israel' towards ceasefire in Gaza
MENA

Israeli media: Yemen may push 'Israel' towards ceasefire in Gaza

Palestinians struggle to get donated food at a community kitchen in Khan Younis, Gaza Strip, Friday, May 16, 2025 (AP)
Politics

Trump administration planning to send 1 million Palestinians to Libya

President Donald Trump greets Israeli Prime Minister Benjamin Netanyahu at the White House, Monday, April 7, 2025, in Washington. (AP)
Politics

'Israel' concerned, says US withholding info about indirect Iran talks

Israeli Prime Minister Benjamin Netanyahu during the annual ceremony at the Yad LaBanim Memorial in occupied al-Quds on Tuesday, April 29, 2025 (AP)
Politics

Netanyahu cancels Vatican visit over fears of ICC arrest

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS