H & M HENNES & MAURITZ AB SIX-MONTH REPORT
• Profit after financial items for the first six months was SEK 9,490 m (8,545),
an increase of 11 percent. Group profit after tax was SEK 6,880 m (5,768), corresponding to SEK 8.31 (6.97) per share, an increase of 19 percent.
• Sales for the second quarter excluding VAT amounted to SEK 21,609 m (20,050), an increase of 8 percent. In local currencies, sales increased by 9 percent and decreased by 2 percent in comparable units.
• Profit after financial items for the second quarter was SEK 5,433 m (5,134), an increase of 6 percent.
• Sales in May increased by 25 percent. The increase in comparable units was 14 percent.
Sales excluding VAT for the H&M Group for the first six months of the financial year amounted to SEK 41,351 m (36,822), an increase of 12 percent. In local currencies the increase was 12 percent and 1 percent in comparable units. Sales including VAT amounted to SEK 48,653 m (43,255).
Sales excluding VAT in the second quarter amounted to SEK 21,609 m (20,050), an increase of 8 percent. Sales including VAT were SEK 25,412 m (23,554). In local currencies, sales increased by 9 percent and decreased by 2 percent in comparable units.
In May 2008, sales including VAT in local currencies increased by 25 percent compared to the same month last year. Sales in comparable units increased by 14 percent. Calendar effects are estimated to have contributed to 3-4 percentage units. The month of June is estimated to give negative calendar effects of the same size.
During the first half year, the Group opened 59 (83) stores and 8 (8) stores were closed. In addition, 7 Weekday-stores and 13 Monki-stores have been consolidated through the acquisition of Fabric Scandinavien AB. The total number of stores in the Group as per 31 May 2008 thus amounted to 1,593 (1,420), of which 11 are franchise stores.
Nils Vinge, IR
Leif Persson, CFO
Rolf Eriksen, CEO
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 08:00 (CET) on 18 June 2008.