INTERIM REPORT 1 December 2002 - 28 February 2003

• Group turnover for the period amounted to SEK 12,636 m (11,246), an increase of 12 per cent. With comparable exchange rates, the increase was 15 per cent.

• Gross profit amounted to SEK 5,858 m (5.072), which corresponds to a gross margin of 54.4 per cent (52.9).

• Operating margin was 14.5 per cent (11.5) and has improved on all market.

• Profit after financial items amounted to SEK 1,689 m (1,180), an increase of 43 per cent.

• Lease contract has been signed on a first shop in Milan, Italy. Opening fall 2003. H&M will thereby this year open shops on four new markets.

• Profit per share after estimated tax was SEK 1.33 (-.93).


Contact persons:

Carl-Henric Enhörning, IR
+46 8 795 54 10

Leif Persson, CFO
+46 8 796 13 00

Rolf Eriksen, CEO
+46 8 796 52 33

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+46 8 796 55 00