Retail Hits: 1299

H & M Hennes & Mauritz AB: 6 month report

Retail Hits: 1299
H & M Hennes & Mauritz AB: 6 month report
Retail Hits: 1299

29 June 2022, Mumbai:

First half-year (1 December 2021 – 31 May 2022)

  • The H&M group’s net sales in SEK increased by 20 percent in the first half-year to SEK 103,670 m (86,569). In local currencies, the increase was 15 percent.
  • Well-received collections led to a higher share of full-price sales and lower costs for markdowns.
  • Gross profit increased to SEK 54,106 m (44,106). This corresponds to a gross margin of 52.2 percent (50.9).
  • Operating profit increased to SEK 5,446 m (2,724), corresponding to an operating margin of 5.3 percent (3.1). For rolling 12 months the operating margin was 8.3 percent (4.9).
  • The group’s profit after tax increased to SEK 3,899 m (1,697), corresponding to SEK 2.36 (1.03) per share.
  • Cash flow from operating activities amounted to SEK 12,591 m (20,219).
  • Financial net cash increased to SEK 16,313 m (12,799). Cash and cash equivalents plus undrawn credit facilities amounted to SEK 44,483 m (43,517).

ALSO READ H & M Hennes & Mauritz AB’s Annual and Sustainability Report'21

Second quarter (1 March 2022 – 31 May 2022)

  • Net sales increased by 17 percent to SEK 54,504 m (46,509). In local currencies, the increase was 12 percent. Excluding Russia, Belarus and Ukraine sales increased by 17 percent in local currencies.
  • Gross profit increased to SEK 29,846 m (25,049). This corresponds to a gross margin of 54.8 percent (53.9).
  • The well-received collections led to costs for markdowns decreasing by around 1 percentage point in relation to sales.
  • Operating profit increased to SEK 4,988 m (3,852), corresponding to an operating margin of 9.2 percent (8.3).
  • Profit after financial items increased by 33 percent to SEK 4,782 m (3,593).
  • The group’s profit after tax increased to SEK 3,682 m (2,767), corresponding to SEK 2.22 (1.67) per share.
     
  • The board of directors has decided to buy back its own B shares for SEK 3 billion starting from 29 June 2022.   Comments by Helena Helmersson, CEO
     
    “Well-received collections have led to strong development, with a further increase in full-price sales and decrease in markdowns.

 

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