Duyuru • Jul 08
H&M Group Appoints Henrik Kroon as Chief Commercial Officer H&M Group had appointed Henrik Kroon as the new Chief Commercial Officer. Kroon joined H&M in 2010 as global controller, construction. He has since held various roles, including CFO for H&M Canada, global head of retail space, and most recently, chief commercial development officer. Declared Dividend • May 20
Dividend of kr3.55 announced Shareholders will receive a dividend of kr3.55. Ex-date: 4th November 2026 Payment date: 10th November 2026 Dividend yield will be 26%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is not adequately covered by earnings (93% earnings payout ratio). However, it is covered by cash flows (56% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 2.9% to bring the payout ratio under control. EPS is expected to grow by 25% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Board Change • May 20
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Klas Balkow was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • May 08
H & M Hennes & Mauritz AB (Publ) Approves Dividend for the Year 2026, Payable on 12 May 2026 and 10 November 2026 H & M Hennes & Mauritz AB (publ) at its AGM held on May 5, 2026 approved the board's proposal that a dividend of SEK 7.10 per share be distributed to the shareholders. The dividend will be paid in two instalments during the year, one in May and one in November. The record date for the first dividend payment of SEK 3.55 per share is 7 May 2026. The dividend payment is expected to be made by Euroclear Sweden AB on 12 May 2026. The record date for the second dividend payment of SEK 3.55 per share is 5 November 2026. The dividend payment is expected to be made by Euroclear Sweden AB on 10 November 2026. Duyuru • Apr 18
H&M Unveils Stella McCartney H&M Collection H&M was proud to reveal all the looks in the upcoming Stella McCartney H&M collection. The collection will launch on May 7th, twenty years after H&M's first partnership with the acclaimed designer and campaigner. The first Stella McCartney H&M partnership, which marked H&M's second ever design collaboration, launched in November 2005. The latest Stella McCartney H&M collection builds on that legacy. It reflects on the highlights of the house's 25-year history, bottling McCartney's pioneering and rule-breaking vision into a range of apparel and accessories. The collection unites past and present. Playful, iconic hits from McCartney's early archive are combined with current signatures, such as oversized shirting, sweeping trenches, sharp tailoring, and bejewelled prints and slogan tops. Other key items in the collection include rib knitted dresses and tops with McCartney's signature Falabella chain at the neck and a long white gown with a cape-like sleeve that loops into the hem, giving the look of a sweeping circle of fabric. Sparkling partywear, separates and denims, as well as mesh dresses and tops in a bold archival cherry-print are also featured. A white mini tee embellished with studs reading 'Rock Royalty', offers an extra dose of nostalgia. The accessories range is rich in bags. Six styles will launch including small, branded shoulder bags, giant totes and a timeless chocolate-toned bag with a chain-detail strap. This is one of several pieces in the collection that incorporate the Falabella chain, including necklaces and earrings, crafted in recycled metal in mixed tones, and loafers with chain detailing on the front. The collection is defined by an approach to materials that prioritize recycled content, organic cottons, wool certified to the RWS Standard and innovative usage of feedstock for coated materials, such as industrial corn and recycled vegetable oil. The Stella McCartney H&M campaign, shot by Sam Rock in London, stars Renee Rapp, Angelina Kendall and Adwoa Aboah. The mood is playful yet effortless, nostalgic yet forward-thinking. Across the campaign, &Stella becomes the tagline for the collaboration. Reinterpreted in myriad forms such as &Here &Now &Me &You, it becomes a message about connection, care, and a way of being that speaks to this moment and the past, present, and future. Duyuru • Mar 27
H&M Launches S/S 2026 Womenswear Collection H&M embraced playful and bold nostalgia by blending eras and influences into a compelling and liberating collection that rethinks Spring dressing. Flashes of different eras from the 80s, 90s, and 00s add surprise and intrigue across key pieces, creating a wardrobe with an intentional sense of history and culture. The collection celebrates the way modern looks blend the past with the present and resurface in unexpected and dynamic ways. In the collection, exaggerated volume contrasts with bold silhouettes. Sharp meets fluid, daring edge meets sophistication, gritty urban meets jet set glam, and modernity meets curated heritage. A key chapter of the collection's story is conceptualized by opulent embroideries and bold crochets that bring a sense of craft and tactility to fringed tops, semi-sheet gowns and vests, and highly detailed blouses. This decadent softness is grounded by mid-wash denims and minimalist leatherwork such as cropped jackets with graphic lines, anoraks, and Bermuda shorts. Sharp suiting in linen blends brings sophisticated, modern elegance. Hero items include scarf-detail tops, skirts layering over trousers, sculptural asymmetric bandeau tops, and jackets with eye-catching curved fronts decorated with buttons. Modern takes on athleisure come with a note of technique and texture. The collection's jewellery is sculptural – including shell motifs on necklaces and earrings, oversized bangles of metal and wood, and numerous statement pendants. Accessories include a mini handbag fully decorated with shells, and a metal shell-shaped bag with a tassel detail. Shoes include strappy and thong sandals: flat, or with sculptural curved wedge heels. Across the collection, the palette fades from sandy beige to cool white and classic black, with accents of red, offering a vision that combines breezy, sun-kissed charm with sensual, high glamour. The S/S 2026 collection will launch in H&M stores and online beginning March 26, 2026. Duyuru • Jan 30
H & M Hennes & Mauritz AB (publ), Annual General Meeting, May 05, 2026 H & M Hennes & Mauritz AB (publ), Annual General Meeting, May 05, 2026, at 15:00 W. Europe Standard Time. Location: erling persson hall, aula medica, karolinska institutet in solna, Sweden Board Change • Dec 30
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Klas Balkow was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Nov 29
H & M Hennes & Mauritz AB (publ) to Report Fiscal Year 2026 Results on Jan 28, 2027 H & M Hennes & Mauritz AB (publ) announced that they will report fiscal year 2026 results on Jan 28, 2027 Duyuru • Oct 03
H&M Atelier Presents the Auto-Winter 2025 Collection H&M announced that for H&M's new Atelier Autumn-Winter 2025 collection, the Atelier design studio presents a modern winter wardrobe of elevated essentials with an unexpected edge, as tailored shapes and finishes, balance workwear pieces and utilitarian accents. Leaning into these contrasts and relaxed, layered silhouettes, the A/W Atelier collection takes shape. Luxuriously tactile fabrics and an autumnal color palette -- warm beiges, browns, and cognac neutrals, give way to deep emerald greens -- ushering in a welcomed change of season. The art of layering remains central - velvet overshirts, denim, and fine wools add color and texture to essential cotton and jerseys shapes. Fabrics that invite touch -- from those woven in Italian mills to supplevet, dense cotton, washed canvas, and wool knitwear. The H&M Atelier Autumn-Winter 25 collection will be available in select H&M stores worldwide and online from October 2nd, 2025. Duyuru • Jul 17
H&M and Mia Regan Co-Design the Perfect Wardrobe for Summer Vacations H&M embarked on a creative journey with Mia Regan to co-design a wardrobe for vacations and fun times this summer. The British model and content creator approaches fashion, beauty, music and nature in a unique way, and brought everything from her own hand-drawn illustrations and iconic style to design the capsule collection. The H&M x Mia Regan co-creation will be available at hm.com beginning July 17th. As a longtime friend and collaborator, Mia's collection with H&M came naturally. She was involved in every step of the design process. From first concepts to final fittings, Mia shared mood boards, silhouette ideas, design details and color palettes along the way. With illustrations based on her trips around the world, these personal touches not only highlight Mia's creativity, but also make the collaboration feel more special. The collection includes a range of slip dresses, knit separates, cargo trousers, capris, shorts, skirts, apparel and tops. Accessories include slouchy bags, a rope belt and printed scarves in a color palette of funny yellow, earthy tones and silver. There are asymmetric shapes and utilitarian references with playful details that reflect Mia's favorite wardrobe pieces. Key pieces include a yellow bias-cut slip dress with a crisscross back, a silver lurex knitted set, a pair of capris with asymmetric cargo pockets and utilitarian details, and a taupe sleeves maxi- dress with tie-up sides and an illustrated star on the front. Duyuru • Jun 26
H & M Hennes & Mauritz AB (publ) to Report Q1, 2026 Results on Mar 26, 2026 H & M Hennes & Mauritz AB (publ) announced that they will report Q1, 2026 results on Mar 26, 2026 Duyuru • May 08
H&M Studio Announces Resort Capsule Collection 2025 H&M Studio brings together harmonious contrasts and an emphasis on craftsmanship for the Resort 2025 Capsule collection. Airy summer dresses, kaftans and knits meet bold, minimalistic silhouettes in tailoring and denim separate. Each piece is designed for a magical summer getaway and beyond. The H&M Studio Resort Capsule will be available in select stores and <URL> beginning May 8th, 2025. The color palette ranges from terracotta and sandy beiges to black, crisp white, and vibrant blues. Materials include linen, cotton and chiffon that move with ease. Key pieces include a crop beige cotton jacket with a statement neckline, embellishment and a heavily embroidered pattern, designed to be paired with curved leg jeans with studs along the side seams. The collection also features full-length kaftans with custom patchwork prints inspired by Moroccan motifs. Accessories in the capsule include a terracotta bikini with asymmetrical top, golden flat mules with not-detailing, rope high heel sandals, and a suede bag with whipstitch detailing, alongside sunglasses, and jewelry. The H&M studio Resort Capsule collection will be available to shop on May 8th. Duyuru • Mar 31
H & M Hennes & Mauritz AB (publ) to Report Fiscal Year 2025 Results on Jan 29, 2026 H & M Hennes & Mauritz AB (publ) announced that they will report fiscal year 2025 results on Jan 29, 2026 Duyuru • Mar 27
H & M Hennes & Mauritz AB (Publ) Proposes Dividend H & M Hennes & Mauritz AB (publ) at its annual general meeting will be held on 7 May 2025 to resolve, among other things, on the board's proposed dividend of SEK 6.80 per share, to be paid in two instalments, and on a general authorisation allowing the board to buy back the group's own B shares in the period up to the 2026 annual general meeting. Duyuru • Nov 26
Secret Sales LTD acquired Afound from H & M Hennes & Mauritz AB (publ) (OM:HM B). Secret Sales LTD acquired Afound from H & M Hennes & Mauritz AB (publ) (OM:HM B) on November 25, 2024. Afound will retain its brand identity and design aesthetic whilst leveraging Secret Sales’ technology platform.
Secret Sales LTD completed the acquisition of Afound from H & M Hennes & Mauritz AB (publ) (OM:HM B) on November 25, 2024. Upcoming Dividend • Oct 31
Upcoming dividend of kr3.25 per share Eligible shareholders must have bought the stock before 07 November 2024. Payment date: 13 November 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (3.1%). Duyuru • Oct 03
H&M Introduces an Elevated New Menswear Collection, Atelier H&M introduced an elevated new menswear collection, Atelier. A testament to the art and craftsmanship of quality menswear, Atelier proposes a modern and effortless update of familiar codes, including heritage and workwear, realized in premium fabrics. The debut Atelier collection will be available from October 3rd, 2024, in select H&M stores worldwide and online. The debut Autumn-Winter 2024 collection proposes a wardrobe ripe for individual expression, with casual and confident layering composed of timeless outerwear and relaxed tailoring. Rich and intriguing fibres, tactility and texture offer an unexpected depth and dimension. Hero outerwear is layered over core essentials, while relaxed tailored pants are dressed down further when styled with slip-on sneakers. Overall, the look is intentionally undone, evoking an effortless and intuitive way of dressing inspired by the campaign's star, the Swedish actor Bill Skarsgård. Reported Earnings • Sep 27
Third quarter 2024 earnings released: EPS: kr1.44 (vs kr2.04 in 3Q 2023) Third quarter 2024 results: EPS: kr1.44 (down from kr2.04 in 3Q 2023). Revenue: kr59.0b (down 3.1% from 3Q 2023). Net income: kr2.32b (down 30% from 3Q 2023). Profit margin: 3.9% (down from 5.5% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 6% per year. Buy Or Sell Opportunity • Sep 21
Now 20% overvalued Over the last 90 days, the stock has fallen 7.6% to €15.73. The fair value is estimated to be €13.09, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years. Earnings per share has declined by 4.0%. For the next 3 years, revenue is forecast to grow by 3.3% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Reported Earnings • Jun 28
Second quarter 2024 earnings released: EPS: kr3.11 (vs kr2.02 in 2Q 2023) Second quarter 2024 results: EPS: kr3.11 (up from kr2.02 in 2Q 2023). Revenue: kr59.6b (up 3.5% from 2Q 2023). Net income: kr5.01b (up 52% from 2Q 2023). Profit margin: 8.4% (up from 5.7% in 2Q 2023). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 9% per year. Board Change • Jun 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Helena Saxon was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • May 07
Dividend of kr3.25 announced Shareholders will receive a dividend of kr3.25. Ex-date: 7th November 2024 Payment date: 13th November 2024 Dividend yield will be 24%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is not covered by earnings (112% earnings payout ratio). However, it is well covered by cash flows (44% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 25% to bring the payout ratio under control. EPS is expected to grow by 58% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Mar 28
First quarter 2024 earnings released: EPS: kr0.75 (vs kr0.33 in 1Q 2023) First quarter 2024 results: EPS: kr0.75 (up from kr0.33 in 1Q 2023). Revenue: kr53.7b (down 2.2% from 1Q 2023). Net income: kr1.21b (up 124% from 1Q 2023). Profit margin: 2.3% (up from 1.0% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Duyuru • Mar 27
H & M Hennes & Mauritz AB (publ) Proposes Dividend, Payable on 13 May 2024 and 13 November 2024 The board of H & M Hennes & Mauritz AB (publ) proposes that the 2024 annual general meeting approves a dividend to the shareholders of SEK 6.50 per share. The board proposes that the dividend is paid in two instalments during the year, one in May and one in November. The proposed record date for the first dividend payment of SEK 3.25 per share is 7 May 2024. If the resolution is passed by the annual general meeting, the first dividend payment is expected to be made by Euroclear Sweden AB on 13 May 2024. The proposed record date for the second dividend payment of SEK 3.25 per share is 8 November 2024. If the resolution is passed by the annual general meeting, the second dividend payment is expected to be made by Euroclear Sweden AB on 13 November 2024. Declared Dividend • Feb 05
Final dividend of kr3.25 announced Shareholders will receive a dividend of kr3.25. Ex-date: 6th May 2024 Payment date: 13th May 2024 Dividend yield will be 28%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is not covered by earnings (121% earnings payout ratio). However, it is well covered by cash flows (42% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 34% to bring the payout ratio under control. EPS is expected to grow by 64% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Duyuru • Feb 02
H & M Hennes & Mauritz AB (publ) to Report Q1, 2024 Results on Mar 27, 2024 H & M Hennes & Mauritz AB (publ) announced that they will report Q1, 2024 results on Mar 27, 2024 Reported Earnings • Feb 01
Full year 2023 earnings released: EPS: kr5.37 (vs kr2.16 in FY 2022) Full year 2023 results: EPS: kr5.37 (up from kr2.16 in FY 2022). Revenue: kr236.0b (up 5.6% from FY 2022). Net income: kr8.75b (up 145% from FY 2022). Profit margin: 3.7% (up from 1.6% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Duyuru • Feb 01
H & M Hennes & Mauritz AB (Publ) Announces CEO Changes The board of directors of H & M Hennes & Mauritz AB has appointed Daniel Ervér, responsible for the brand H&M, as new President and CEO for the H&M group. He succeeds Helena Helmersson who has decided to step down as CEO and leave the H&M group. Daniel Ervér, born in 1981, has worked within the H&M group for 18 years in various roles in different parts of the company, most recently as head of H&M. Daniel, who takes over as CEO immediately, will continue to be operationally responsible for H&M, which means that no successor to Daniel as head of H&M will be appointed. Helena Helmersson, has worked for 26 years within the H&M group, of which the last four years as CEO. Daniel Ervér is 42 years old and has worked in the H&M group for 18 years, of which the last four years as responsible for H&M. He started as a summer trainee in 2005 and then became a controller in 2006. Since then, Daniel has been responsible for merchandising at H&M in Germany and the US, country manager for H&M Sweden, purchasing manager for H&M and responsible for H&M women and men. Daniel has studied a Degree of Master of Science in Business Administration at the University of Gothenburg and an exchange with ESSEC Business School in Paris, France. Buying Opportunity • Jan 08
Now 20% undervalued Over the last 90 days, the stock is up 14%. The fair value is estimated to be €18.44, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.1% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 3.3% per annum. Earnings is also forecast to grow by 24% per annum over the same time period. Duyuru • Dec 06
Jazwares Announces Collaboration with Global Fashion Brand H&M to Launch A Vibrant Apparel and Accessories Collection Jazwares announced collaborating with global fashion brand H&M to launch a vibrant apparel and accessories collection inspired by the plush sensation. Available online on December 7 and in stores globally on December 21, this is the first collaboration between H&M and pop culture phenomenon Squishmallows, as Jazwares continues to build on the #1 plush property's status as a preeminent global lifestyle brand. Inspired by the incredible signature plush softness along with several iconic Squishmallows, the 42-piece collection for kids and tweens features an expansive line list of apparel and accessories, including slippers, pajamas, t-shirts, dresses, ear muffs, hoodies, and more. Each fashion-forward item incorporates the unique personalities of the lovable, huggable Squishmallows making the collection just as cuddle-craving as the toys themselves. Special to the H&M collection is 'Rodry', a yellow bearded dragon Squishmallows plush sporting a new look. Over the last year, Jazwares has been focused on evolving Squishmallows as a lifestyle brand with world-class partners across fashion, gaming, and many lifestyle categories, adding to its illustrious portfolio of more than 70 best-in-class licensees. Buying Opportunity • Nov 30
Now 21% undervalued Over the last 90 days, the stock is up 6.1%. The fair value is estimated to be €19.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.1% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 3.4% per annum. Earnings is also forecast to grow by 23% per annum over the same time period. Duyuru • Nov 10
Rabanne H&M Is Now Available to Open Online and in Select Stores The Rabanne H&M collaboration fuses futuristic design with innovative craftsmanship, and the collection draws on the iconic 1960s creations of the house's late founder Paco Rabanne, re-energized since 2013 by creative director Julien Dossena. The Rabanne H&M collection takes revolutionary, floor-destined style to a new dimension, blending iconic chainmail and glittering sequins with easy sportswear and slick tailoring. Spanning womenswear, menswear, accessories as well as a home decor capsule with H&M Home (US only), the collection is launching in selected stores and online at hm.com. Key pieces for women include archival-inspired metallic mesh two-pieces and mirrored paillette dresses, alongside romantic rhinestone-adorned chiffon gowns and leopard-print jerseys dresses. For men, sharp silver suits and metallic mesh vests turn heads alongside luxe loungewear. In accessories, contemporary takes on Rabanne's iconic paillette and metallic mesh bags steal the spotlight, along with Western-style boots and sequined pool-slides. Meanwhile the H&M HOME capsule combines statement-making metallic furniture with architectural accessories. The collection has been crafted in long-lasting, high-quality fabrics, with premium qualities of leather andool appearing in accessories, outerwear, suiting and knitwear. In a first for both H&M and Rabanne, the house's iconic metallic mesh pieces feature both recycled and conventional metal, the result of months of development. Embellished items feature recycled PET sequins and recycled-glass rhinestones. Upcoming Dividend • Nov 02
Upcoming dividend of kr3.25 per share at 4.1% yield Eligible shareholders must have bought the stock before 09 November 2023. Payment date: 15 November 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.1%. Lower than top quartile of German dividend payers (5.1%). Higher than average of industry peers (3.2%). Duyuru • Oct 01
H & M Hennes & Mauritz AB (publ), Annual General Meeting, May 03, 2024 H & M Hennes & Mauritz AB (publ), Annual General Meeting, May 03, 2024, at 15:00 Central European Standard Time. Reported Earnings • Sep 28
Third quarter 2023 earnings released: EPS: kr2.04 (vs kr0.32 in 3Q 2022) Third quarter 2023 results: EPS: kr2.04 (up from kr0.32 in 3Q 2022). Revenue: kr60.9b (up 6.0% from 3Q 2022). Net income: kr3.33b (up kr2.80b from 3Q 2022). Profit margin: 5.5% (up from 0.9% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Jul 06
Non-Independent Chairman recently bought €23m worth of stock On the 3rd of July, Karl-Johan Persson bought around 1m shares on-market at roughly €15.48 per share. This transaction amounted to 5.4% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €28m. Karl-Johan has been a buyer over the last 12 months, purchasing a net total of €138m worth in shares. Reported Earnings • Jun 29
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: kr57.6b (up 5.7% from 2Q 2022). Net income: kr3.30b (down 11% from 2Q 2022). Profit margin: 5.7% (down from 6.8% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • May 24
Non-Independent Chairman recently bought €28m worth of stock On the 19th of May, Karl-Johan Persson bought around 2m shares on-market at roughly €12.79 per share. This transaction amounted to 8.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Karl-Johan has been a buyer over the last 12 months, purchasing a net total of €176m worth in shares. Upcoming Dividend • Apr 28
Upcoming dividend of kr3.25 per share at 4.3% yield Eligible shareholders must have bought the stock before 05 May 2023. Payment date: 11 May 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.3%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (2.7%). Reported Earnings • Mar 31
First quarter 2023 earnings released: EPS: kr0.33 (vs kr0.13 in 1Q 2022) First quarter 2023 results: EPS: kr0.33 (up from kr0.13 in 1Q 2022). Revenue: kr54.9b (up 12% from 1Q 2022). Net income: kr541.0m (up 149% from 1Q 2022). Profit margin: 1.0% (up from 0.4% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 6% per year. Recent Insider Transactions • Feb 20
Chairman of the Board recently bought €53m worth of stock On the 15th of February, Karl-Johan Persson bought around 5m shares on-market at roughly €11.49 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Karl-Johan has been a buyer over the last 12 months, purchasing a net total of €148m worth in shares. Duyuru • Jan 28
H & M Hennes & Mauritz AB (Publ) Proposes Dividend for the Year 2022 The board of directors of H & M Hennes & Mauritz AB (publ) proposed an ordinary dividend of SEK 6.50 per share to the annual general meeting to be paid in two instalments. Reported Earnings • Jan 28
Full year 2022 earnings released: EPS: kr2.16 (vs kr6.65 in FY 2021) Full year 2022 results: EPS: kr2.16 (down from kr6.65 in FY 2021). Revenue: kr223.6b (up 12% from FY 2021). Net income: kr3.57b (down 68% from FY 2021). Profit margin: 1.6% (down from 5.5% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Buying Opportunity • Dec 16
Now 22% undervalued Over the last 90 days, the stock is up 2.1%. The fair value is estimated to be €13.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.0% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 3.7% per annum. Earnings is also forecast to grow by 17% per annum over the same time period. Upcoming Dividend • Nov 03
Upcoming dividend of kr3.25 per share Eligible shareholders must have bought the stock before 10 November 2022. Payment date: 16 November 2022. The company is paying out more than 100% of its profits and is paying out 76% of its cash flow. Trailing yield: 5.7%. Within top quartile of German dividend payers (5.2%). Higher than average of industry peers (4.5%). Reported Earnings • Sep 30
Third quarter 2022 earnings released: EPS: kr0.32 (vs kr2.84 in 3Q 2021) Third quarter 2022 results: EPS: kr0.32 (down from kr2.84 in 3Q 2021). Revenue: kr57.5b (up 3.4% from 3Q 2021). Net income: kr531.0m (down 89% from 3Q 2021). Profit margin: 0.9% (down from 8.4% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Board Change • May 19
High number of new directors Deputy Employee Representative Margareta Welinder was the last director to join the board, commencing their role in 2022. Upcoming Dividend • Apr 28
Upcoming dividend of kr3.25 per share Eligible shareholders must have bought the stock before 05 May 2022. Payment date: 11 May 2022. Payout ratio is on the higher end at 87%, however this is supported by cash flows. Trailing yield: 5.2%. Within top quartile of German dividend payers (4.0%). Higher than average of industry peers (2.8%). Board Change • Apr 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Deputy Employee Representative Agneta Gustafsson was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 01
First quarter 2022 earnings released First quarter 2022 results: Revenue: kr49.2b (up 23% from 1Q 2021). Net income: kr217.0m (up kr1.29b from 1Q 2021). Profit margin: 0.4% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 6.2%, compared to a 18% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €12.89, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 11x in the Specialty Retail industry in Europe. Total returns to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €19.38 per share. Buying Opportunity • Feb 25
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 4.7%. The fair value is estimated to be kr19.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.3% per annum over the last 3 years. Earnings per share has declined by 32% per annum over the last 3 years. Reported Earnings • Jan 29
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: kr6.65 (up from kr0.75 in FY 2020). Revenue: kr199.0b (up 6.4% from FY 2020). Net income: kr11.0b (up kr9.77b from FY 2020). Profit margin: 5.5% (up from 0.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 12%, compared to a 17% growth forecast for the retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Oct 22
Upcoming dividend of kr6.50 per share Eligible shareholders must have bought the stock before 29 October 2021. Payment date: 04 November 2021. Trailing yield: 3.8%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (2.5%). Reported Earnings • Oct 01
Third quarter 2021 earnings released: EPS kr2.84 (vs kr1.10 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: kr55.6b (up 9.3% from 3Q 2020). Net income: kr4.69b (up 158% from 3Q 2020). Profit margin: 8.4% (up from 3.6% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Jan 30
Revenue beats expectations Revenue exceeded analyst estimates by 0.003%. Over the next year, revenue is forecast to grow 14%, compared to a 8.1% growth forecast for the Specialty Retail industry in Germany. Reported Earnings • Jan 30
Full year 2020 earnings released: EPS kr0.75 (vs kr8.12 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: kr187.0b (down 20% from FY 2019). Net income: kr1.24b (down 91% from FY 2019). Profit margin: 0.7% (down from 5.8% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. 
