We do

business
on fair
terms
Ikano Code of Conduct
 3

Letter from our CEO 3 Dear colleagues,

Our responsibility 4
How we work together 6 At Ikano, our customer promise requires that we do
business on fair terms. To fulfil this promise, we are guided
Doing business on fair terms 8 by our values: common sense and simplicity, working
together and daring to be different. These values help us
Violations and consequences 14 make the right choices in our everyday work and succeed
in achieving our mission to simplify the lives of the many
Working under the IKEA brand 16 people.

Acting responsibly and fairly has helped us gain the trust

of our customers, partners and of society. We have high
expectations when it comes to performing our business in
an honest, open and ethical way. To support us in keeping
up the good work, we have established this Code of
Conduct. It will help us continue to build a strong brand,
provide great customer experiences and guide each and
every one of us in our daily decision-making.

Some of us work under the IKEA brand and must

also consider the IKEA Code of Business Conduct.
Content

We have included an additional part to make sure that

those of us working with both brands understand the
expectations.

I am convinced that following this Code of Conduct goes

hand in hand with good business and building people’s
trust in our brand. Use it in your daily work and refer to it
whenever needed.

With your help, I am sure we will create an even better

way together!

Lars Thorsén, CEO Ikano Group

February 2017
 4 5

We follow the Code and the law

Ikano shall abide by the laws and regulations of every country in
which it operates. In situations where the law does not give guidance,
Ikano applies its own standards based on its corporate values and
culture. In cases of conflict between mandatory law and the principles
of this Code, the law shall prevail (i.e. if the law is stricter than the
Code, the law must be applied).

Should you find yourself uncertain about a decision, behaviour or

action, seek advice from your manager, senior manager or human
resources representative.

Our leaders lead by example

As a leader or manager within Ikano, you have the responsibility to
lead by example, ensure that the Code is followed and to take action
if you notice any unethical situations. It is also important that you are
available if a co-worker wants to discuss ethical issues or wishes to
report possible violations.

Our responsibility
If you need guidance in your decision-
making, here are a few questions you
Do we need a Code of Conduct? The short can ask yourself:
answer is, yes. Because at Ikano, we keep
a long-term perspective on our business • Is it in line with the Code?

and we recognise our responsibilities. • Is it ethical?

Not only towards you as a co-worker but • Is it legal?

also to customers, partners, suppliers and • Will it reflect well on me and on Ikano?
society as a whole. Therefore, we need to • Am I willing to stand up for this publicly?
be absolutely clear on what is expected If your answer is no to any of these questions
of all of us. The Ikano Code of Conduct, – don’t do it.

sometimes more simply referred to as the

Code of Conduct or Code, defines our
behaviour.
How we work
together
7

We treat each other with respect

Anyone working for Ikano is entitled to his or her basic human rights
and should not be forced to suffer physically or mentally from his or
her work in any way. We have no room for harassment or bullying.
Different people find different things unacceptable, and as a diverse
group of people, we need to be aware of that fact and respect it.

Our diversity is a strong asset

One of our success factors has been to work together and take a
different view on problems to find solutions. No co-worker should
be discriminated against because of age, gender, religion, sexual
orientation, marital or parental status, political opinion or ethnicity.
All co-workers with the same experience, performance and
qualifications shall receive equal pay for equal work.

Safety is our priority

Ikano requires that safety of the workplace is always a priority
concern. This applies to all aspects of working conditions including
labelling and handling of chemicals, noise levels, temperature,
ventilation, lighting and quality of and access to sanitary facilities.

Our view on drugs and alcohol

You can’t misuse alcohol at work. It is absolutely forbidden to use,
possess, supply, offer or produce illegal drugs. We recognise
alcoholism and drug misuse as an illness. Therefore, we offer special
assistance and treatment to help with recovery – wherever possible.
If you or a colleague near you have an identified problem and
agree to a suitable course of action, we will be there to help. On
special occasions, alcohol may be consumed on Ikano premises in a
responsible manner, at the manager’s discretion.
 8 9

Doing business Sometimes interests collide

As co-workers at Ikano, we make business decisions based on the
best interests of Ikano rather than personal considerations or

on fair terms:
relationships. A conflict of interest arises when anything interferes
with or influences the exercise of a co-worker’s independent
judgement in the best interests of Ikano. We must avoid situations in
which our personal interests will or could conflict with the interests of
Ikano.

Our way of doing business

Our customer promise and Code together

promise the surrounding world that we will Here are a few examples of where potential conflicts of
do business on fair terms. That’s why we interest could arise:
are committed to maintaining openness,
legal compliance as well as high ethical
and moral standards in the way we do External and business relationships
business. The Code is the foundation on • Someone you know very well owns a company that is doing, or
which our business integrity rests and it will be doing, business with Ikano.

defines our standards for doing business • You and a business partner or supplier to Ikano are becoming
friends outside work.
on fair terms.

Personal relationships and activities

Please remember that you represent Ikano
outside work
and your behaviour will reflect on the
company. This is also valid on social media, • You or a family member own a company with which Ikano is
doing, or is likely to do, business.
so please use your common sense when
• An organisation you are involved in tries to use Ikano’s name
you post on Twitter, Facebook, LinkedIn to promote themselves.
and the like.

If you know of, suspect or have a question

concerning conflicts of interest, you should
discuss it with your manager.
 10 11

We work against corruption That said, we know that smaller gifts of

modest value may be needed to establish
We cannot involve third parties, who act
on our or the counterpart’s behalf, in any
or maintain a good business relationship – unethical transactions – something we
To do business on fair terms means among other things that creating goodwill and building trust. Gifts should not be part of in the first place. So any
of modest value such as business lunches, sales commissions, consulting fees or other
neither you, nor any member of your family, can accept any dinners, social invitations or small items are, payments to third parties are not to be used
inappropriate gifts or payments from anyone that you or naturally, okay. These should of course be
more of a symbolic nature, and should not
as a channel for bribes or other improper
payments.
Ikano are doing business with. This could be seen as a bribe affect your ability to make the right decisions.
If you are offered, or if you receive,
or a kickback. This works both ways, so none of us should something that you think is improper –
create a situation where there is a risk of discuss it with your manager.
conflicting interests for someone else. In
Examples of such payments are: other words, and in very much the same
way that we may not accept gifts, we
cannot offer payments in any form. This
Cash Extravagant entertainment includes payments to officials or government
employees, which sometimes are called
Trips that have no facilitation payments. In short, we will
Inappropriate gifts only pay the documented amount for any
business connection
transaction.
Valuables that easily can be Other unusually
turned into cash discounted items

Loans
 12 13

Commit yourself to a cause, Be careful with information Sustainability in For the record – books and
if you choose to At Ikano, we regularly produce valuable non-
everything we do record keeping
public ideas, strategies and other kinds of
We encourage your involvement in civic, business information. We value and protect We are in business for the long run. That We need to be committed to exemplary
charitable, political and social activities (e.g. this type of intellectual property in the same means we will incorporate sustainability – operational, financial and regulatory
social days), as long as it does not create a way as tangible assets such as houses, every aspect of it – in everything we do; reporting.
situation where you end up having conflicting furniture, office equipment, construction tools, from raw materials and how products are
interests. In this case, it may concern your land and so on. made, to maintaining a sustainable business Our business decisions require accurate,
availability, loyalty and objectivity towards as well as to inspire people to live a more reliable and timely information – both
Ikano. If you are uncertain whether an activity Acting on fair terms, we respect and are also sustainable life at home. It includes social operational and financial. Therefore,
you are, or want to be, involved in may cause careful with others’ intellectual property as and environmental issues, such as climate we need to protect the integrity of our
conflicting interests – discuss the situation well as with their confidential or proprietary change, natural resource conservation, transactions as well as establish and
with your manager and resolve it. information. We urge you to refer any media waste management and working conditions maintain adequate internal controls over
inquiries regarding such information to in our supply chain. The latter also means reporting. We must also ensure that all
Freedom of association is a basic human your Managing Director or Communication that we do not tolerate any form of forced, corporate records, financial as well as
right. This means that you are free to join – department. Also, remember not to discuss compulsory or child labour. Sustainability non-financial, are accurate, complete and
or not join – any institutional and recognised such information with colleagues, or anyone also involves us working together in a properly documented. And, naturally, that
co-worker association of your choice, without outside Ikano, in public places where people sustainable way, keeping our business viable they follow applicable laws and regulations.
fear of reprisal, interference, intimidation or may overhear your conversation. for future challenges.
harassment.

Please remember that Ikano as a company

remains politically neutral. This means Insider trading is illegal
that company names or assets related to
companies within Ikano cannot be used to When you work here, you may get to know
promote nor discredit the interests of any of some non-public information about Ikano
political party or candidate. or about other companies. Using such
information to sell or buy securities (e.g.
stocks, bonds, options, etc.) or discussing it
We care for our assets with people who might buy or sell because of
such information – is illegal.
We have many assets – and how we use
these and our time will directly influence
our profitability. Therefore, we need to be Getting personal?
careful with our assets and only use them
to conduct Ikano business. We must protect We want all co-workers to be treated
them from misuse, theft or destruction. Our equally. That’s why we try to keep a
facilities, equipment, machines and financial balance between our business interests and
assets can only be used for business your personal life. So, if a close personal
purposes. Certain assets (such as computers, relationship exists, or develops, between
email, telephone, fax machines, printers you and a colleague, you need to inform
and copiers) may be used for minor and your manager. Your manager will be able
incidental purposes, provided it is kept to a to assess in what way this may impact the
minimum and does not interfere with your operations.
work duties. If in doubt, consult your manager
for advice.
 14 Code of Conduct 15

Violations and
consequences
What happens if someone doesn’t
follow the Code?
With us, you get freedom with accountability. We hope this will
encourage you to make decisions, without hesitating because of any
risk of making a mistake. Mistakes can happen, we have found great
solutions by making mistakes, but we must always act in line with our
Code.

If you or anyone else raises a concern, we will initiate and carry out a
full and fair investigation, because we truly believe that everyone is
innocent until proven otherwise. The outcome of this investigation will
determine if further actions are needed, and what sort of disciplinary
actions may be appropriate.

Reporting violations or
unethical behaviour
If you have serious concerns about this Code or the law being
violated, we want you to tell us about it. We will not accept any
retaliation or discrimination against you if you have reported a
violation, or a suspected violation, in good faith.

These are your ways of reporting:

• Report to your manager.

• If your manager is involved in the situation, or if you feel that

your concerns have not been properly addressed, report to your
manager’s manager, or a human resource representative.

• Use the Whistleblower programme. You will find what steps to

take in the Whistleblower Policy.
 16 17

Working under the

IKEA brand
If you work under the IKEA Brand you have
two codes of conduct to relate to – the
represent two distinctive brands, and
anything you do, good or bad, may reflect on
Togetherness Renew and improve
Ikano Code of Conduct and the IKEA Code both of them.
of Business Conduct. However, they do not Caring for people and planet Different with a meaning
differ too much in their essence. By now, you know the Ikano values –
Common sense and simplicity, Daring to be
The Ikano and IKEA Codes of Conduct different and Working together. Compare Cost-consciousness Give and take responsibility
build on the same ideas of being fair, using them to IKEA’s values on the next page:
common sense and working with the long-term
perspective to make people’s everyday lives Simplicity Lead by example
better.

However, it is essential that you read the

IKEA Code of Business Conduct as carefully
as you have read Ikano’s Code of Conduct.
You must remember that you actually
My commitment to Ikano
I have read and understood the Ikano Code of Conduct, dated
February 2017, and I commit to complying with it. I understand that
repeated or serious failure to comply with the Ikano Code of Conduct
may lead to disciplinary action.

If I have any business, personal or family relationships which

potentially could conflict with the business interests of Ikano, they have
been listed below:

Co-worker name & signature Date