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1、 General Information Q3 H&M Hennes&Mauritz AB Nine-month report 2024 Nine-month report 2024(1 Dec 2023 31 Aug 2024)2 Nine-month report 2024(1 Dec 2023 31 Aug 2024)3 H&M Hennes&Mauritz AB Nine-month report 2024 THIRD QUARTER(1 JUNE 2024 31 AUGUST 2024)The H&M groups net sales in the third quarter amo

2、unted to SEK 59,011 m(60,897).In local currencies net sales were flat compared with the previous year.Gross profit amounted to SEK 30,133 m(31,015).This corresponds to a gross margin of 51.1 percent(50.9).Selling and administrative expenses increased by 1 percent to SEK 26,602 m(26,271).In local cur

3、rencies the increase was 4 percent.Operating profit amounted to SEK 3,507 m(4,739),corresponding to an operating margin of 5.9 percent(7.8).Excluding currency translation effects and winding-down costs the operating margin was comparable with the previous year.The result after tax amounted to SEK 2,

4、307 m(3,319),corresponding to SEK 1.44(2.04)per share.Converted into Swedish kronor the stock-in-trade increased by 3 percent to SEK 41,738 m(40,358).The composition of the stock-in-trade is good.Cash flow from operating activities,amounted to SEK 8,215 m(12,257).NINE MONTHS(1 DECEMBER 2023 31 AUGUS

5、T 2024)The H&M groups net sales in the first nine months of the financial year amounted to SEK 172,285 m(173,385).In local currencies,net sales were flat compared with the previous year.Gross profit increased to SEK 91,357 m(87,239).This corresponds to a gross margin of 53.0 percent(50.3).Selling an

6、d administrative expenses increased by 1 percent in SEK.In local currencies the increase was 1 percent.Operating profit increased to SEK 12,682 m(10,205),corresponding to an operating margin of 7.4 percent(5.9).The result after tax increased by 19 percent to SEK 8,503 m(7,147),corresponding to SEK 5

7、.29(4.39)per share.Cash flow from operating activities increased to SEK 24,782 m(24,742).Financial net cash amounted to SEK 9,396 m(13,555).Cash and cash equivalents plus undrawn credit facilities were SEK 41,838 m(43,918).The autumn collection has been very well received and sales in the month of S

8、eptember 2024 are expected to increase by 11 percent in local currencies compared with the same month the previous year.In September a number of initiatives have been initiated,such as upgrades to physical stores,the roll-out of a new digital experience,and the launch of the autumn collection with b

9、rand-reinforcing events and collaborations that will take place during the autumn.The first flagship store for H&M Beauty in Sweden was opened in September.During the autumn H&M is opening digital stores on Douyin and Pinduoduo,two of Chinas biggest e-commerce platforms.The first H&M store in Brazil

10、 will open in So Paulo at the end of 2025.Based on the authorisation granted by the annual general meeting the board of directors has decided to buy back H&M class B shares for SEK 1 billion,starting on 26 September 2024 and continuing until no later than 26 November 2024.Nine months Operating profi

11、t SEK 12.7 billion(SEK 10.2 billion)Nine months Gross margin 53.0%(50.3%)Nine months Cash flow from operating activities SEK 24.8 billion(SEK 24.7 billion)“Despite a challenging start,we are concluding the third quarter with sales on par with last year in local currencies and with good cost control.

12、We are strengthening the H&M brand by investing in products,the shopping experience and marketing,which we are already seeing start to make an impact and which will contribute to increased sales and profitability.”-Daniel Ervr,CEO.Nine-month report 2024(1 Dec 2023 31 Aug 2024)4 Long-term investments

13、 strengthen the H&M customer offering Comments by Daniel Ervr,CEO During the quarter weve primarily focused on creating a strong assortment that gives the customer the best value for money while also upgrading both the physical and digital store experience.The quarter started with slow sales in June

14、 due to cold weather in many of our key European markets.In July and August we saw sales pick up,with even stronger sales development in September.Despite a challenging start,we conclude the quarter with sales on par with last year in local currencies.Cost control remained good,but operating profit

15、was negatively impacted by currency translation effects and winding-down costs.Disregarding these effects the operating margin in the third quarter was comparable with last year,despite a significant increase in marketing costs in the quarter.These aim to strengthen the H&M brand in the long term,st

16、arting from the launch of the autumn collection in September.The autumn collection represents the best of H&M:fantastic fashion and good quality at the best price,in a sustainable way.With an even better experience in both our digital and many of our physical stores,as well as collaborations and uni

17、que events,weve raised the bar for H&M.Charli XCX is the face of the campaign,supported by both global and local artists and models.The first collections of the autumn have been very well received by customers,with good sales and strong resonance on social media.2024 is a year in which were laying t

18、he foundation for future growth.Were increasing the pace of improvements in our customer offering and deprioritising things that dont strengthen our brands or contribute to our sales and profitability.Consumers living costs have remained high during the year,and at the same time we continue to see t

19、urbulence in the world around us.External factors have impacted our sales revenue and purchasing costs more than we expected.At present we estimate that this years operating margin will be lower than 10 percent.We are strengthening the H&M brand by investing in products,the shopping experience and m

20、arketing and are already seeing that the efforts we have started are having an effect.We are confident that our plan will contribute to increased sales and profitability.Nine-month report 2024(1 Dec 2023 31 Aug 2024)5 SALES The H&M groups net sales in the third quarter amounted to SEK 59,011 m(60,89

21、7).In local currencies net sales were flat compared with the previous year.The quarter started with slow sales in June due to cold weather in many key markets in Europe.Sales developed positively in July and August.Net sales in the nine-month period amounted to SEK 172,285 m(173,385).In local curren

22、cies,net sales were flat compared with the previous year.Around 30 percent of sales were online in the first nine months of the financial year.For Portfolio brands,which were up against high comparative figures from last year,net sales in the third quarter decreased by 6 percent in SEK and by 4 perc

23、ent in local currencies.In the nine-month period,net sales were flat compared with the previous year in both SEK and in local currencies.SALES PER REGION *Nine-month period.60,897173,38559,011172,285-3%-1%040,00080,000120,000160,000Q3Nine months20232024SEK mQ3Q3SEK LCY NINE MONTHS NINE MONTHS SEK LC

24、Y NEW STORES(NET)20242023202420232024*31 AUG 24 31 AUG 23The Nordics5,3135,809-9-715,50015,954-3-2-8381393Western Europe19,73120,581-4-257,49657,7230-1-261,0251,051Eastern Europe5,4175,3062415,55914,0931086481478Southern Europe8,2528,2061822,65522,72305-15593612North and South America13,12413,445-22

25、38,85739,818-2-28753735Asia,Oceania and Africa7,1747,550-5-222,21823,074-4-1-361,0651,106Total59,01160,897-30172,285173,385-10-714,2984,375NUMBER OF STORES CHANGE IN%CHANGE IN%Nine-month report 2024(1 Dec 2023 31 Aug 2024)6 GROSS PROFIT AND GROSS MARGIN Gross profit and gross margin are a result of

26、many factors,internal as well as external,and are mostly affected by the decisions that the H&M group takes in line with its strategy to always have the best combination of fashion,quality,price and sustainability.Gross profit amounted to SEK 30,133 m(31,015)for the third quarter,corresponding to a

27、gross margin of 51.1 percent(50.9).The negative overall effect of external factors that influenced purchasing costs in the quarter compared with the previous year was offset by continued improvement work in the supply chain.For the nine-month period gross profit increased to SEK 91,357 m(87,239),cor

28、responding to a gross margin of 53.0 percent(50.3).The cost of markdowns in relation to sales in the third quarter 2024 increased somewhat compared with the corresponding quarter the previous year.For the goods that will be sold in the fourth quarter of 2024,the overall effect of external factors is

29、 expected to be negative compared with the previous year.31,01587,23930,13391,35751.1%53.0%50.9%50.3%020,00040,00060,00080,000100,000Q3Nine months20232024SEK mNine-month report 2024(1 Dec 2023 31 Aug 2024)7 SELLING AND ADMINISTRATIVE EXPENSES Selling and administrative expenses increased in the thir

30、d quarter by 1 percent to SEK 26,602 m(26,271).In local currencies,these expenses increased by 4 percent.Selling and administrative expenses for the third quarter were impacted by long-term marketing investments and winding-down costs,mainly for Afound,totalling around SEK 550 m,a large part of whic

31、h consisted of the long-term marketing investments.Already at the beginning of the fourth quarter positive effects of these investments in marketing can be seen in connection with the launch of the autumn collection.The cost and efficiency programme is fully implemented and operational cost control

32、remains good.For the nine-month period,selling and administrative expenses increased by 1 percent in both SEK and local currencies compared with the same period the previous year.26,27178,01626,60278,612+1%+1%020,00040,00060,00080,000Q3Nine months20232024SEK mNine-month report 2024(1 Dec 2023 31 Aug

33、 2024)8 OPERATING PROFIT AND OPERATING MARGIN Operating profit in the third quarter amounted to SEK 3,507 m(4,739),corresponding to an operating margin of 5.9 percent(7.8).The strengthened Swedish krona resulted in negative currency effects that impacted operating profit in the third quarter compare

34、d with the same quarter last year.Winding-down costs also impacted earnings negatively.Excluding currency translation effects and winding-down costs the operating margin was comparable with last year:Currency effects:translation effects arise when converting income,expenses,liabilities and receivabl

35、es from local currencies into SEK.Currency translation of the quarters sales,gross profit and selling and administrative expenses from local currencies resulted in lower reported amounts in SEK.In addition,exchange losses on intragroup payables and receivables had a negative impact on operating prof

36、it for the quarter.Winding-down costs:as part of deprioritising things that do not contribute to long-term sales and profitability,it was decided in the quarter to wind down Afound.Operating profit for the nine-month period increased to SEK 12,682 m(10,205),corresponding to an operating margin of 7.

37、4 percent(5.9).4,73910,2053,50712,682-26%+24%04,0008,00012,000Q3Nine months20232024SEK mNine-month report 2024(1 Dec 2023 31 Aug 2024)9 STOCK-IN-TRADE The stock-in-trade increased by 3 percent to SEK 41,738m(40,358).Currency adjusted the stock-in-trade increased by 5 percent compared with the previo

38、us year.The increase is mainly due to extended transport times associated with the situation in the Red Sea and to higher sales ambitions for the autumn assortment.The impact of increased delivery times on the stock level as at 31 August amounted to around SEK 2 billion.The composition of the stock-

39、in-trade is assessed to be good.The stock-in-trade in SEK represented 17.8 percent(17.1)of rolling 12 months sales.The investments in the supply chain and the integration of the sales channels continue.With a higher share of nearshoring,a more efficient and more flexible supply chain and more purcha

40、sing in season,the group is well placed for improvement of the stock-in-trade situation.The company continues to plan for extended transport times and to manage disruption in the supply chain.40,35841,738+3%020,00040,00031 Aug 202331 Aug 2024SEK mNine-month report 2024(1 Dec 2023 31 Aug 2024)10 EXPA

41、NSION THROUGH INTEGRATED CHANNELS Expansion is taking place with a focus on increased omnichannel sales.Customers want to be able to shop and be inspired where,when and how they choose in the stores,on the brands own websites,on digital marketplaces and on social media.As previously communicated,the

42、 company is stepping up the pace of investment in physical and digital stores during 2024 to provide an even more inspiring experience while also optimising our store portfolio for continued profitability and growth.For example,around 250 stores globally are being refurbished,which is a significant

43、increase compared to last year.H&M is opening its first store in the Dominican Republic via franchise at the end of 2024.In the early part of the fourth quarter H&M has expanded its digital presence on A in India and T in Turkey.During the autumn H&M will launch digital stores on Douyin and Pinduodu

44、o,two of Chinas biggest e-commerce platforms.Arket opened its first stores in Spain,Poland and Italy during the quarter.Weekday and Monki launched on B in September,while Arket has launched on ASOS.com.The first H&M store in Brazil will open in So Paulo towards the end of 2025.The store will open in

45、 Iguatemi,one of the most iconic and unique shopping centres in Brazil.The H&M group is continuing to renegotiate a large number of leases,which also involves rebuilds,adjustment of the number of stores and of store space to ensure it has the right store portfolio in each market.The H&M groups contr

46、acts allow around a third of leases to be renegotiated or exited each year.After reviewing priorities as regards things that do not strengthen the H&M brand or contribute to each brands long-term sales and profitability,additional stores have been identified for consolidation.For 2024 the plan is to

47、 open around 100 new stores and close around 200 stores,making a net decrease of around 100 stores.Most of the openings will be in growth markets,while the closures will mainly be in established markets.STORE COUNT AND MARKETS BY BRAND As at 31 August 2024 the H&M group had 4,298(4,375)stores,i.e.th

48、e total number of stores has decreased by 77 stores compared with the same point in time the previous year,which corresponds to a reduction of approximately 2 percent.During the first nine months of the current financial year 61(66)new stores have opened and 132(156)stores have closed.A total of 259

49、(282)of the groups stores are operated by franchise partners.*Concept stores.H&M HOME is also available through shop-in-shop in 455 H&M stores.COS,Monki,Weekday,&Other Stories and ARKET offer Global selling which enables customers in around 70 additional markets to shop online.The exact number of ma

50、rkets per brand that have this service varies.STOREONLINEQ3NINE MONTHS31 AUG 202431 AUG 2023H&M-18-583,8143,8757760COS-2-92362484738Monki-3-856691529Weekday-2-647531429&Other Stories 0-171702532ARKET 3939271731Afound 000007H&M HOME*1235335945Sellpy 0000024Total-21-714,2984,375NUMBER OF MARKETS31 AUG

51、 20242024(NET)TOTAL NUMBER OF STORESNEW STORESNine-month report 2024(1 Dec 2023 31 Aug 2024)11 FINANCING AND LIQUIDITY The H&M group aims to secure financial flexibility and freedom of action on the best possible terms.As previously,the efforts focus on continued improvements in working capital,cash

52、 flow and more efficient financing.Cash flow and working capital Cash flow from operating activities in the nine-month period amounted to SEK 24,782 m(24,742).Operating working capital amounted to SEK 18,875 m(17,347),corresponding to an increase of SEK 1,528 m compared with the previous year.Most o

53、f the change is explained by development of the stock-in-trade.Liquidity and debt financing The H&M groups liquidity remains very good.As at 31 August 2024 cash and cash equivalents amounted to SEK 23,698 m(24,971).In addition,the group has undrawn credit facilities of SEK 18,140 m(18,947).The total

54、 liquidity buffer,i.e.cash and cash equivalents plus undrawn credit facilities,amounted to SEK 41,838 m(43,918).Net debt including lease liabilities in relation to EBITDA amounted to 1.3(1.5)with a net cash position of SEK 9,396 m(13,555).Debt levels are well within the target range of 1.0 2.0 for t

55、he capital structure target Net debt/EBITDA.Interest-bearing liabilities in the form of commercial papers,bonds and loans from credit institutions amounted to SEK 14,303 m(11,417)as at 31 August 2024.The average maturity of interest-bearing liabilities amounted to 5.5(3.7)years as a result of a net

56、decrease in current liabilities of around SEK 2.0 billion through repayments during the quarter.A maturity analysis of outstanding interest-bearing liabilities and undrawn credit facilities as at 31 August 2024 is given in the table below.No significant financing activities were carried out during t

57、he quarter.SEK m2024-08-312023-08-312023-11-30Accounts receivable2,9692,5963,301Stock-in-trade41,73840,35837,358Accounts payable-25,832-25,607-21,027Operating working capital 18,87517,34719,632Year COMMERCIAL PAPERS BONDS(EMTN)LOANS FROM CREDIT INSTITUTIONS UNUSED CREDIT FACILITIES 2024-2025-2026-2,

58、1573,4012027-2028-245-2029-5,669-14,7392030-2031-6,232-Total SEK m-11,9012,40218,140Nine-month report 2024(1 Dec 2023 31 Aug 2024)12 TAX The groups tax rate for the financial year 2023/2024 is expected to be 25 26 percent based on known circumstances.For the first three quarters of the year a tax ra

59、te of 25 percent(24)is planned to be used to calculate tax expense on the earnings in each period excluding result from investments in associated companies and joint ventures.The final tax rate depends on,among other things,the results of the groups various companies,the corporate tax rates in each

60、country,non-deductible costs and tax expense relating to previous years.SHARE BUYBACKS Following implementation of the resolution passed by the annual general meeting on 3 May 2024 to cancel 19,144,612 class B treasury shares repurchased as part of H&Ms buyback programme,the total number of shares i

61、n H&M is 1,610,542,225 shares of which 194,400,000 are class A shares and 1,416,142,225 are class B shares and the total number of votes is 3,360,142,225,as communicated in a press release on 31 May 2024.Thereafter the H&M group holds no treasury shares.The board of directors has decided to use the

62、authorisation from the 2024 annual general meeting to initiate a buyback programme of its own class B shares amounting to SEK 1 billion,in view of the H&M groups strong financial position and since surplus liquidity has been identified.The programme starts on 26 September 2024 and will continue unti

63、l no later than 26 November 2024.For more information see the separate press release issued on 26 September 2024.CURRENT QUARTER The autumn collection has been very well received and sales in the month of September 2024 are expected to increase by 11 percent in local currencies compared with the sam

64、e month the previous year.The cost of markdowns in relation to sales in the fourth quarter is expected to increase somewhat compared with the corresponding quarter the previous year.The long-term investments in marketing are continuing in the fourth quarter,with costs expected to be a little higher

65、than in the third quarter.The company is monitoring developments in the Red Sea and the global freight market and acts to minimise impact on the companys product availability,freight costs and stock levels.The company is also taking action to manage disruption in the supply chain.RISKS AND UNCERTAIN

66、TIES Risks may be due to events in the outside world and affect a certain sector or market,or they may be associated with the groups own business.The H&M group carries out regular risk analysis for both operational and financial risks.Operational risks are mainly associated with the business and the

67、 external risks that affect the group.Business decisions determine whether action is to be taken to reduce the likelihood of the risk in question occurring and if so,to what extent.Business decisions also determine the extent to which the consequences of a risk that has occurred may be mitigated.The

68、re are external risks and uncertainties affecting the H&M group that are related to the shift in the industry,fashion,competitors,logistics resources,information security and cyber security,sustainability issues,weather,macroeconomics and geopolitical events,pandemics,foreign currencies,taxes,custom

69、s duty,and various regulations and ordinances,but also in connection with expansion into new markets,the launch of new concepts and how the brands are managed.More detailed information concerning the financial risks is given in the H&M groups annual and sustainability report.Nine-month report 2024(1

70、 Dec 2023 31 Aug 2024)13 CALENDAR 30 January 2025 Full-year report,1 Dec 2023 30 Nov 2024 27 March 2025 Three-month report,1 Dec 2024 28 Feb 2025 27 March 2025 Annual and Sustainability report 2024 7 May 2025 Annual general meeting 15:00(CEST),Erling Persson Hall,Aula Medica,Solna Stockholm,25 Septe

71、mber 2024 Board of Directors COMMUNICATION IN CONJUNCTION WITH THE NINE-MONTH REPORT The nine-month report,i.e.,1 December 2023 31 August 2024,will be published at 08:00 CEST on 26 September 2024,followed by a telephone conference at 09:00 CEST for the financial market and media.The telephone confer

72、ence will be held in English,hosted by CEO Daniel Ervr,CFO Adam Karlsson and Head of IR Joseph Ahlberg.For log in details for the telephone conference please register via this link:https:/ To book interviews in conjunction with the nine-month report on 26 September 2024,please contact:Anna Frosch No

73、rdin,Head of Media Relations,telephone+46 73 432 93 14,.CONTACT Joseph Ahlberg,Head of IR +46 73 465 93 92 Daniel Ervr,CEO+46 8 796 55 00(switchboard)Adam Karlsson,CFO+46 8 796 55 00(switchboard)H&M Hennes&Mauritz AB(publ)SE-106 38 Stockholm Phone:+46 8 796 55 00,e-mail: Registered office:Stockholm,

74、Reg.No.556042-7220 For more information about the H&M group visit .Nine-month report 2024(1 Dec 2023 31 Aug 2024)14 REVIEW REPORT H&M Hennes&Mauritz AB(Publ),corporate identity number 556042-7220 Introduction We have reviewed the interim report for H&M Hennes&Mauritz AB(publ)for the period December

75、1,2023 August 31,2024.The Board of Directors and the CEO are responsible for the preparation and presentation of this interim report in accordance with IAS 34 and the Annual Accounts Act.Our responsibility is to express a conclusion on this interim report based on our review.Scope of Review We condu

76、cted our review in accordance with the International Standard on Review Engagements ISRE 2410,Review of Interim Financial Information Performed by the Independent Auditor of the Entity.A review consists of making inquiries,primarily of persons responsible for financial and accounting matters,and app

77、lying analytical and other review procedures.A review has a different focus and is substantially less in scope than an audit conducted in accordance with ISA and other generally accepted auditing practices.The procedures performed in a review do not enable us to obtain a level of assurance that woul

78、d make us aware of all significant matters that might be identified in an audit.Therefore,the conclusion expressed based on a review does not give the same level of assurance as a conclusion expressed based on an audit.Conclusion Based on our review,nothing has come to our attention that causes us t

79、o believe that the interim report is not,in all material respects,prepared for the Group in accordance with IAS 34 and the Annual Accounts Act,and for the Parent Company in accordance with the Annual Accounts Act.Stockholm,September 25,2024 Deloitte AB Didrik Roos Authorized Public Accountant Inform

80、ation in this interim report is that which H&M Hennes&Mauritz AB(publ)is required to disclose under the EU Market Abuse Regulation(EU)No 596/2014.The information was submitted for publication by the abovementioned persons at 08:00(CEST)on 26 September 2024.This interim report and other information a

81、bout the H&M group are available at .H&M Hennes&Mauritz AB(publ)was founded in Sweden in 1947 and is quoted on Nasdaq Stockholm.H&Ms business idea is to offer fashion and quality at the best price in a sustainable way.In addition to H&M,the group includes the brands COS,Monki,Weekday,&Other Stories,

82、H&M HOME and ARKET as well as Sellpy.For further information,visit .Nine-month report 2024(1 Dec 2023 31 Aug 2024)15 GROUP INCOME STATEMENT IN SUMMARY(SEK M)For information about depreciation,amortisation and write-downs,see note 4.*Income from investments in associated companies and joint ventures

83、for the nine-month period and for full year 2022/2023 include a one-time item of SEK 999 m for revaluation of associated companies of which mainly the former associated company Sellpy.*Before and after dilution,excluding own shares.Q3 2024 Q3 2023 NINE MONTHS 2024 NINE MONTHS 2023 2022-12-01-2023-11

84、-30 Net sales,note 3 59,01160,897172,285173,385236,035Cost of goods sold,note 4-28,878-29,882-80,928-86,146-115,139GROSS PROFIT 30,13331,01591,35787,239120,896Gross margin,%51.150.953.050.351.2 Selling expenses,note 4-24,167-23,648-70,704-70,131-96,435Administrative expenses,note 4-2,435-2,623-7,908

85、-7,885-10,895Result from investments in associated companies and joint ventures*-24-5-63982971OPERATING PROFIT 3,5074,73912,68210,20514,537Operating margin,%5.97.87.45.96.2 Net financial items-422-366-1,323-1,111-1,527PROFIT AFTER FINANCIAL ITEMS 3,0854,37311,3599,09413,010 Tax-778-1,054-2,856-1,947

86、-4,287PROFIT FOR THE PERIOD 2,3073,3198,5037,1478,723 Attributable to:The shareholders of H&M Hennes&Mauritz AB 2,3193,3288,5367,1658,752Non-controlling interest-12-9-33-18-29 Earnings per share,SEK*1.442.045.294.395.35Average number of shares outstanding,thousands*1,610,5421,629,6871,612,8431,629,6

87、871,629,097Nine-month report 2024(1 Dec 2023 31 Aug 2024)16 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME(SEK M)Q3 2024 Q3 2023 NINE MONTHS 2024 NINE MONTHS 2023 2022-12-01-2023-11-30 PROFIT FOR THE PERIOD 2,3073,3198,5037,1478,723 Other comprehensive income Items that are or may be reclassified to

88、 profit or loss Translation differences-1,099-324-5741,43212Change in hedging reserves 1,144-133205-879413Tax attributable to change in hedging reserves-23527-42181-85Share of OCI related to associated companies and joint ventures 0-0-Items that will not be reclassified to profit or loss Remeasureme

89、nt of defined benefit pension plans-128-43-185-38-41Tax related to the above remeasurement 321046910Remeasurement of financial assets,note 2-3611724-249-599OTHER COMPREHENSIVE INCOME-322-346-526456-290TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 1,9852,9737,9777,6038,433 Attributable to:The shareholder

90、s of H&M Hennes&Mauritz AB 1,9972,9828,0107,6218,462Non-controlling interest-12-9-33-18-29Nine-month report 2024(1 Dec 2023 31 Aug 2024)17 GROUP BALANCE SHEET IN SUMMARY(SEK M)*Equity attributable to the shareholders of H&M Hennes&Mauritz AB amounts to SEK 43,169 m(47,785)and to non-controlling inte

91、rests SEK 62 m(93).*Interest-bearing long-term liabilities amounts to SEK 61,340 m(59,172),excluding leasing SEK 14,779 m(8,757)of which provisions for pensions SEK 701 m(449).*Interest-bearing current liabilities amounts to SEK 11,959 m(15,780),excluding leasing SEK 0 m(3,110).GROUP CHANGES IN EQUI

92、TY IN SUMMARY(SEK M)ASSETS2024-08-312023-08-312023-11-30NON-CURRENT ASSETSIntangible non-current assets9,01510,1649,725Property,plant and equipment26,27625,12025,242Right-of-use assets53,63958,44856,294Non-current financial assets,note 22,9602,7182,572Other non-current assets6,9247,7136,91198,814104

93、,163100,744CURRENT ASSETSStock-in-trade41,73840,35837,358Current receivables16,37318,05116,773Cash and cash equivalents23,69824,97126,39881,80983,38080,529TOTAL ASSETS 180,623187,543181,273EQUITY AND LIABILITIESEquity*43,23147,87847,601Long-term liabilities*17,59312,30117,016Long-term leasing liabil

94、ities*46,33750,41548,729Short-term liabilities*61,50364,27955,768Current leasing liabilities*11,95912,67012,159TOTAL EQUITY AND LIABILITIES180,623187,543181,2732024-08-312023-08-312023-11-30Shareholders equity at the beginning of the financial year47,60150,75750,757Total comprehensive income for the

95、 period 7,9777,6038,433Transactions with non-controlling interests 0111111Dividend-10,468-10,593-10,577Repurchase of shares-1,879-1,123Shareholders equity at the end of the period43,23147,87847,601Nine-month report 2024(1 Dec 2023 31 Aug 2024)18 GROUP CASH FLOW STATEMENT IN SUMMARY(SEK M)*Interest p

96、aid for the group amounts to SEK 520 m(241).Interest expense related to leases amounts to SEK 1,493 m(1,256)for the group.Received interest for the group amounts to SEK 690 m(386).NINE MONTHS 2024 NINE MONTHS 2023 Operating activities Profit after financial items*11,3599,094Adjustment for non-cash i

97、temsProvisions for pensions14169Other provisions367-437Depreciation,amortisation and write-downs16,27816,725Other non-cash items63-982Taxes paid-1,333-3,781Cash flow from operating activites before changes in working capital 26,87520,688Cash flow from changes in working capitalOperating receivables2

98、325Stock-in-trade-4,7083,027Operating liabilities2,5921,002CASH FLOW FROM OPERATING ACTIVITIES 24,78224,742Investing activitiesInvestments in intangible fixed assets-1,010-797Investments in tangible fixed assets-6,049-4,799Other-514-260CASH FLOW FROM INVESTING ACTIVITIES-7,573-5,856Financing activit

99、iesChange in interest-bearing liabilities-3,057-44Amortisation lease-9,467-9,663Dividend-5,235-5,297Repurchase of shares-1,927-CASH FLOW FROM FINANCING ACTIVITIES-19,686-15,004CASH FLOW FOR THE PERIOD-2,4773,882Cash and cash equivalents at beginning of the financial year26,39821,707Cash flow for the

100、 period-2,4773,882Exchange rate effect-223-618Cash and cash equivalents at end of the period23,69824,971Nine-month report 2024(1 Dec 2023 31 Aug 2024)19 FIVE YEAR SUMMARY NINE MONTHS,1 DECEMBER 31 AUGUST *Before and after dilution,excluding own shares.For definitions and explanations of the alternat

101、ive performance measures in this report,see page 138-140 in the annual and sustainability report for the 2023 financial year.20202021202220232024Net sales,SEK m134,482142,154161,120173,385172,285Change net sales from previous year in SEK,%-216138-1Change net sales previous year in local currencies,%

102、-2113800Operating profit,SEK m-7988,9966,34810,20512,682Operating margin,%-0.66.33.95.97.4Depreciation,amortisation and write-downs for the period,SEK m 20,08416,78116,78816,72516,278Profit after financial items,SEK m-1,6138,2975,7539,09411,359Profit after tax,SEK m-1,2426,3894,4307,1478,503Cash and

103、 cash equivalents,SEK m12,13835,29827,54724,97123,698Stock-in-trade,SEK m42,07636,86747,14140,35841,738Equity,SEK m52,78664,40954,07147,87843,231Average number of shares outstanding,thousands*1,655,0721,655,0721,653,9601,629,6871,612,843Earnings per share,SEK*-0.753.862.684.395.29Cash flow from oper

104、ating activities per share,SEK*9.6622.4811.0215.1815.37Number of shares outstanding as of the closing day,thousands*1,655,0721,655,0721,645,4941,629,6871,610,542Equity per share,SEK*31.8938.9232.8629.3826.84Share of risk-bearing capital,%31.636.930.427.325.3Equity/assets ratio,%29.234.828.225.523.9T

105、otal number of stores5,0434,8564,6644,3754,298Rolling 12 monthsAverage number of shares outstanding,thousands*1,655,0721,655,0721,654,2371,637,1891,616,373Earnings per share,SEK*1.795.365.473.846.26Return on equity,%5.615.115.312.322.1Return on capital employed,%4.69.610.19.315.0Nine-month report 20

106、24(1 Dec 2023 31 Aug 2024)20 PARENT COMPANY INCOME STATEMENT IN SUMMARY(SEK M)*Revenue from interests in group companies in the quarter consists of SEK 1,066 m(349)and for the nine-month period of SEK 1,617 m(693).PARENT COMPANY STATEMENT OF COMPREHENSIVE INCOME(SEK M)Q3 2024 Q3 2023 NINE MONTHS 202

107、4 NINE MONTHS 2023 2022-12-01-2023-11-30 Net sales 5935751,7211,6492,264GROSS PROFIT 5935751,7211,6492,264 Administrative expenses-34-21-133-82-108OPERATING PROFIT 5595541,5881,5672,156 Net financial items*9403031,43552011,224PROFIT AFTER FINANCIAL ITEMS 1,4998573,0232,08713,380 Year-end appropriati

108、ons-1,496Tax-90-104-312-286-117PROFIT FOR THE PERIOD 1,4097532,7111,80111,767 Q3 2024 Q3 2023 NINE MONTHS 2024 NINE MONTHS 2023 2022-12-01-2023-11-30 PROFIT FOR THE PERIOD 1,4097532,7111,80111,767 Other comprehensive income Items that have not been and will not be reclassified to profit or loss Reme

109、asurement of defined benefit pension plans-72-70-14Tax related to the above remeasurement 10103OTHER COMPREHENSIVE INCOME-62-60-11TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 1,4037552,7051,80111,756Nine-month report 2024(1 Dec 2023 31 Aug 2024)21 PARENT COMPANY BALANCE SHEET IN SUMMARY(SEK M)*All long

110、-term liabilities are interest-bearing.*Interest-bearing current liabilities amounts to SEK 0 m(2,793).Dividend to be paid amounts to SEK 5,234 m(5,297).2024-08-312023-08-312023-11-30ASSETS NON-CURRENT ASSETS Property,plant and equipment 133144140Other non-current assets 2,0431,3731,595 2,1761,5171,

111、735 CURRENT ASSETS Current receivables 23,55720,09530,812Cash and cash equivalents 01,009223,55721,10430,814 TOTAL ASSETS 25,73322,62132,549 EQUITY AND LIABILITIES Equity 6,7177,51216,360Untaxed reserves 172117Long-term liabilities*13,3277,28113,195Short-term liabilities*5,6727,8072,977TOTAL EQUITY

112、AND LIABILITIES 25,73322,62132,549Nine-month report 2024(1 Dec 2023 31 Aug 2024)22 NOTE 1.ACCOUNTING PRINCIPLES The group applies International Financial Reporting Standards(IFRS)and interpretations by the IFRS Interpretations Committee as adopted by the EU.This report has been prepared according to

113、 IAS 34 Interim Financial Reporting,the Swedish Financial Reporting Boards Recommendation RFR 1 Supplementary Rules for Consolidated Financial Statements and the Swedish Annual Accounts Act.The parent company applies the Swedish Annual Accounts Act and the Swedish Financial Reporting Boards recommen

114、dation RFR 2 Accounting for Legal Entities,which essentially involves applying IFRS.The accounting principles and calculation methods applied in this report are unchanged from those used in the preparation of the annual and sustainability report and consolidated financial statements for 2023.No new

115、or revised IFRS standards or interpretations applied from 1 December 2023 have had any significant impact on the consolidated financial statements.For a more detailed description of the accounting principles applied to the group and the parent company in this interim report,see the notes of the annu

116、al and sustainability report for the 2023 financial year.NOTE 2.FINANCIAL INSTRUMENTS The H&M groups financial instruments consist mainly of shares and interests,accounts receivable,other receivables,cash and cash equivalents,accounts payable,interest-bearing securities and liabilities,and currency

117、derivatives.Measurement principles and classification of financial instruments are unchanged from the information disclosed in note 24 in the annual and sustainability report for 2023.Shares are measured at fair value,either through profit or loss or through other comprehensive income.Where holdings

118、 of shares are assessed to be strategic,the H&M group has chosen to recognise changes in value in other comprehensive income.The value of the holding in Renewcell is based on the share price,which is a level 1 input according to IFRS 13.Renewcell declared bankruptcy in February 2024 and has thus bee

119、n delisted,and the holding was subsequently written down in the first quarter of the financial year.Fair value amounts to SEK 0 m(393)as at 31 August 2024.The fair value of the remaining shares and interests based on level 3 inputs according to IFRS 13 amounts in total to SEK 2,691 m(2,140)as at 31

120、August 2024,the largest investments being Klarna at SEK 766 m(456),Sheertex at SEK 575 m(526),and Instabee at SEK 188 m(428).The effect of measurement of the groups other shares and interests is reported in other comprehensive income and amounts to SEK-36 m(117)for the third quarter.Currency derivat

121、ives are measured at fair value based on level 2 inputs in the IFRS 13 hierarchy.As at 31 August 2024 forward contracts with a positive market value amount to SEK 753 m(1,105),reported under other current receivables.Forward contracts with a negative market value amount to SEK 778 m(1,255),which is

122、recognised in other current liabilities.In hedge accounting,derivatives are classified as cash flow hedges or as fair value hedges.As at 31 August 2024 the nominal amount of outstanding interest rate swaps was SEK 554 m(0).The interest rate swaps are reported as fair value hedges through profit or l

123、oss.Changes in the fair value of the swaps are reported in the income statement together with changes in the fair value of the hedged liability to which the hedged risk relates.Measurement is based on forward interest rates using observable interest rate curves and discounting of contractual cash fl

124、ows(corresponding to level 2).Other financial assets and liabilities are measured at amortised cost.Measurement at fair value would decrease the groups liabilities to credit institutions by around SEK 800 m.The decrease is due to general interest rate increases since debt was issued.The fair values

125、of other financial instruments are assessed to be approximately equal to their book values.Nine-month report 2024(1 Dec 2023 31 Aug 2024)23 NOTE 3.SEGMENT REPORTING(SEK M)*South Africa NINE MONTHS 2024NINE MONTHS 2023Asia and OceaniaExternal net sales21,34322,216Operating profit786736Operating margi

126、n,%3.73.3Europe and Africa*External net sales112,084111,350Operating profit4,7713,099Operating margin,%4.32.8North and South AmericaExternal net sales38,85839,819Operating profit597529Operating margin,%1.51.3Group FunctionsNet sales to other segments57,70959,126Operating profit6,5285,841Operating ma

127、rgin,%11.39.9EliminationsNet sales to other segments-57,709-59,126TotalExternal net sales172,285173,385Operating profit12,68210,205Operating margin,%7.45.9Net financial items-1,323-1,111Profit after financial items11,3599,094Nine-month report 2024(1 Dec 2023 31 Aug 2024)24 NOTE 4.DEPRECIATIONS,AMORT

128、ISATIONS AND WRITE-DOWNS *Release of unused provisions for store closures.NOTE 5.EVENTS AFTER THE CLOSING DATE There have been no significant events after the closing date that effects the financial reporting.Q3 2024 Q3 2023 NINE MONTHS 2024 NINE MONTHS 2023 2022-12-01-2023-11-30 DEPRECIATIONS AND A

129、MORTISATIONS Intangible non-current assets and property,plant and equipment excluding right-of-use assets Cost of goods sold 253236721689935Selling expenses 1,7901,9625,3955,8627,742Administrative expenses 96109287332438Total 2,1392,3076,4036,8839,115 Right-of-use assets Cost of goods sold 319438968

130、8071,107Selling expenses 2,8232,9128,5308,66711,552Administrative expenses 93114304307411Total 3,2353,4649,8029,78113,070TOTAL DEPRECIATIONS AND AMORTISATIONS 5,3745,77116,20516,66422,185 WRITE-DOWNS AND LOSSES AT DISPOSALS Intangible non-current assets and property,plant and equipment excluding rig

131、ht-of-use assets Cost of goods sold 20025869Selling expenses 344321206605Administrative expenses 53147521Total 594660289695 Right-of-use assets Cost of goods sold-Selling expenses 13-90*13-229*74Administrative expenses-Total 13-9013-22974TOTAL WRITE-DOWNS AND LOSSES AT DISPOSALS 72-447360770TOTAL DE

132、PRECIATIONS,AMORTISATIONS,WRITE-DOWNS AND LOSSES AT DISPOSALS 5,4465,72716,27816,72422,955Nine-month report 2024(1 Dec 2023 31 Aug 2024)25 Nine-month report 2024(1 Dec 2023 31 Aug 2024)26 Nine-month report 2024(1 Dec 2023 31 Aug 2024)27 Nine-month report 2024(1 Dec 2023 31 Aug 2024)28 Nine-month report 2024(1 Dec 2023 31 Aug 2024)29 Nine-month report 2024(1 Dec 2023 31 Aug 2024)30 Nine-month report 2024(1 Dec 2023 31 Aug 2024)31 Nine-month report 2024(1 Dec 2023 31 Aug 2024)32