Ikea establishes investment holding company in the canton of Schwyz
Interogo Holding AG, formerly Inter Ikea Holding S.A., has relocated from Luxembourg to Switzerland and has been based in Pfäffikon (SZ) with its management and employees since May 2016. The business activities of Interogo Holding AG include real estate and financial investments, treasury management and various cross-group service functions.
According to the Department of Economic Affairs of the Canton of Schwyz, the business activities of the new Interogo Holding AG will focus on two main areas: Real estate investments through the Vastint Group in the Netherlands and financial investments through Nalka Invest AB in Sweden as well as through managed funds of Inter Fund Management SA in Luxembourg. It also oversees treasury management and various cross-group service functions.
The background to this is the adjustment made to the structure of the Inter Ikea Group as of May 2016, with which the business activities are now divided into two separate groups: one group for Ikea-related business activities and one group for investments. The two groups have separate holding companies, boards of directors and management teams. The change is intended to "increase focus on the respective business activities and performance," according to the statement. Both groups are owned by the Interogo Foundation.
According to figures from the 2015 financial year, Inter Ikea Group generated revenues of 3.7 billion euros (up 18.75 percent compared to 2014) with a net profit of 625 million euros, an increase of 80 million compared to the previous year. (mr)
