H&M Hennes & Mauritz AB posted solid financial results for the fourth quarter and full year of 2024, marking growth in key metrics despite macroeconomic challenges.

For the fourth quarter (September 1–November 30, 2024), the group's net sales reached SEK 62,193 million, slightly down from SEK 62,650 million in the same period last year. However, in local currencies, net sales grew by 3 per cent. Gross profit rose to SEK 33,942 million, resulting in a gross margin of 54.6 per cent, up from 53.7 per cent in Q4 2023. The operating profit increased to SEK 4,624 million, corresponding to an operating margin of 7.4 per cent. This growth was driven by strong online sales, successful women’s fashion collections, and effective cost control. The result after tax nearly doubled, amounting to SEK 3,081 million (SEK 1.92 per share) compared to SEK 1,569 million (SEK 0.97 per share) in Q4 2023.

For the full year (December 1, 2023–November 30, 2024), net sales totaled SEK 234,478 million, slightly down from SEK 236,035 million in 2023. However, local currency sales grew by 1 per cent. Gross profit increased by 4 per cent, reaching SEK 125,299 million, and the operating profit grew by 19 per cent to SEK 17,306 million, with an operating margin of 7.4 per cent. Earnings per share rose 34 per cent to SEK 7.21. Cash flow from operating activities increased by 26 per cent, reaching SEK 36,745 million, despite a decline in cash and cash equivalents to SEK 35,756 million.

The group also highlighted its progress in sustainability, with a 23 per cent reduction in scope 3 emissions compared to 2019 levels. Looking ahead, H&M plans to invest SEK 11–12 billion in CapEx for 2025, focusing on store optimization and supply chain improvements. The company will also open its first store in Brazil by late 2025.

CEO Daniel Erver expressed confidence in the company's direction, emphasizing continued focus on core business growth, customer experience, and sustainability efforts. Despite economic uncertainty, H&M remains well-positioned for future growth with its diversified supply chain and ongoing digital and product innovation.