INTERIM REPORT – NINE MONTHS 1 December 2002 – 31 August 2003

• H&M’s Group turnover amounted to SEK 40,235 (37,369) M, an increase of 8 per cent. In comparable currency rates the increase was 10 per cent.

• Profit after financial items was SEK 6,335 (5,225) M, an increase of 21 per cent.

• Profit after tax for the group amounted to SEK 4,118 M (3,396), corresponding to SEK 4.98 per share (4.10).

• Turnover for the third quarter amounted to SEK 13,209 M, an increase of 4 per cent compared with last year. In comparable currency rates the increase was 7 per cent.

• Gross margin amounted to 55.6 per cent during the third quarter (54.0 per cent).

• The operating margin amounted to 17.8 per cent (16.7 per cent). This margin is the highest ever reached in the Group’s third quarter.

• Third quarter profit after financial items amounted to SEK 2,079 M (1,906), an increase of 9 per cent.

• The autumn collections were well received.

Contact persons:

Carl-Henric Enhörning, IR
+46 8 796 5410

Leif Persson, CFO
+46 8 796 1300

Rolf Eriksen, CEO
+46 8 796 5233