FULL YEAR RESULTS 1 December 2001 to 30 November 2002

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• Group turnover for the year amounted to SEK 53,332 m (46,528) including VAT, an increase of 15 per cent compared to last year. With comparable exchange rates, the increase was 14 per cent.

• Profit after financial items was SEK 8,629 m (5,734), an increase of 50 per cent.

• Improved profit and operating margin in all markets.

• Turnover for the fourth quarter increased by 13 per cent (with comparable exchange rates 15 per cent) and amounted to SEK 15,963 m (14,172) including VAT.

• Profit after financial items for the fourth quarter was SEK 3,404 m (2,356), an increase of 44 per cent.

• In 2003, 110 stores are planned to open, of which twelve on the new markets Poland, the Czech Republic and Portugal.

• Leases have been signed for five stores in Toronto, Canada. The stores will open in 2004.

• The Board of Directors proposes a regular dividend of SEK 2.60 (1.75) per share and in addition a bonus dividend of SEK 3.40 per share, a total of SEK 6.00 per share.

Stockholm, 29 January 2003

The Board of Directors

Contact persons:
Carl-Henric Enhörning +46-8-796 5410
Leif Persson +46-8-796 1300
Rolf Eriksen, CEO +46-8-796 5233
Switchboard +46-8-796 5500

Information about H&M and press pictures are available on www.hm.com


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