Wednesday, May 18

H&M wants to double sales and halve climate emissions

The Swedish giant plans to spend a lot of money on reaching the goals. Solid growth last year still ensures that it rains money on the owners.

Published: Published:

Hennes & Mauritz has solid ambitions for the next eight years.

By 2030 at the latest, the company will double sales from the 2021 levels. In the same period, climate emissions will be reduced by 56 percent from 2019, in accordance with the company’s commitments during the climate summit in Glasgow before Christmas.

The ambitious goals will be presented on Friday in connection with the company presenting the results for the fourth quarter.

To achieve the goals, H&M will increase its investments considerably. In 2022, the company will spend around 10 billion Swedish kroner to start the work.

The goal includes a plan of ten percent profitability over time, which is to be achieved by 2024 at the latest.

In the fourth quarter, H&M had eleven percent revenue growth in local currency. In Swedish kroner, the growth was eight percent, with total revenues of 56.8 billion Swedish kroner.

The operating profit ended at DKK 6.26 million. Analysts had previously expected that the operating profit would end at NOK 5.05 billion, according to Infront TDN Direkt.

– We ended the year strongly with sales that were back at the same level as before the pandemic, and with better profitability than in several years. Now we are back to a more normalized level with a strong financial position and good profitability which means that we can have full focus on growth again, says H&M manager Helena Helmersson in a comment.

The strong result contributes to the company paying SEK 6.50 per share in dividends, in addition to starting a share repurchase program for a total of SEK 3 billion.

Reference-www.aftenposten.no

Leave a Reply

Your email address will not be published.