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H & M reports six month and Q2 financial results

By
June 24, 2010 6:46 AM

STOCKHOLM--(BUSINESS WIRE)--Regulatory News

H & M Hennes & Mauritz AB (STO:HMB):

1 December 2009 — 31 May 2010

THE FIRST HALF-YEAR

- The H&M Group’s sales excluding VAT during the first six months of the financial year amounted to SEK 51,879 m (49,837), an increase of 4 percent. In local currencies, the increase was 11 percent.

- Profit after financial items amounted to SEK 12,095 m (9,338), an increase of 30 percent. Group profit after tax was SEK 8,950 m (6,770), corresponding to SEK 5.41 (4.09) per share. THE SECOND QUARTER

- The H&M Group’s sales excluding VAT during the second quarter amounted to SEK 27,033 m (26,538), an increase of 2 percent. In local currencies, the increase was 10 percent.

- Gross profit amounted to SEK 17,808 m (16,201), corresponding to a gross margin of 65.9 percent (61.0).

- Profit after financial items amounted to SEK 7,040 m (5,784), an increase of 22 percent. Group profit after tax was SEK 5,209 m (4,193), corresponding to SEK 3.15 (2.53) per share.

- Sales in May increased by 6 percent in local currencies compared to the same month last year.

---------------------------------------------------------

- Sales in the period 1 — 22 June 2010 increased by 22 percent in local currencies compared to the same period last year.

- Croatia and Romania new H&M countries in spring 2011.

- Morocco new franchise market in autumn 2011.

SIX MONTHS SIX MONTHS Q2 Q2 2010 2009 2010 2009 (SEK m) Net sales 51,879 49,837 27,033 26,538 Gross profit 33,198 29,379 17,808 16,201 gross margin, % 64.0 59.0 65.9 61.0 Operating profit 11,943 9,035 6,965 5,671 operating margin, % 23.0 18.1 25.8 21.4 Net financial items 152 303 75 113 Profit after financial items 12,095 9,338 7,040 5,784 Tax -3,145 -2,568 -1,831 -1,591 Profit for the period 8,950 6,770 5,209 4,193 Earnings per share, SEK 5.41 4.09 3.15 2.53

The information in this Interim Report is that which H & M Hennes & Mauritz AB (publ) is required to disclose under Sweden’s Securities Market Act. It will be released for publication at 8.00 (CET) on 24 June 2010.

H& M Hennes & Mauritz AB (publ) was founded in Sweden in 1947 and is quoted on NASDAQ OMX Stockholm. The company’s business concept is to offer fashion and quality at the best price. In addition to H&M, the group includes the brands COS, Monki, Weekday and Cheap Monday as well as H&M Home. The H&M Group has more than 2,000 stores in 37 markets. In 2009, sales including VAT were SEK 118,697 million and the number of employees was around 76,000. For further information, visit www.hm.com.

 

 


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