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NEWS
Otto Group records slight decline in revenues
The Otto Group is drawing up a “mixed interim balance sheet” after the first half of the financial year 2022/23. Against the back- drop of the difficult macroeconomic environment, in particular inflation further exacerbated by the war in Ukraine and the de- cline in demand, according to a press release the group of com- panies recorded a decline in revenues of 5.6 % worldwide on a comparable basis, reported -1.8 %.
The international trading and services group, which posted a ro- bust rise in turnover up to EUR 16.1 billion in the past financial year, has had varying business results across its different busi- ness segments. In Germany, revenues declined by 13.5 % on a like-for-like basis in the first half of 2022/23, reported at 11.1 %. In the international markets, the Otto Group is growing by 8.2 % on a comparable basis, and by as much as 13.8 % without adjust- ing for exchange rate effects.
Ikea grows by 7 per cent in Germany
Ikea Germany ends the 2021/22 finan- cial year (31 August) with sales of just under EUR 5.7 billion (+7.1%). Of this total, EUR 1.3 billion was achieved in online retail. The company’s share of re- tail sales excluding food fell from 35.1 to 24.5 % due to the lifting of pandemic restrictions, there being no lockdowns in the past financial year as opposed to 2020/2021. The average receipt in bricks-and-mortar retail rose by 2.5% to EUR 104.12, while online it was EUR 243.64, around 30% higher than in the previous year.
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