H & M Hennes & Mauritz AB (publ) (HM_B) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and a warm welcome everyone. Today we present the fourth quarter and the full year results for 2025 for the H&M Group. My name is Josef Wahlberg and I'm Head of Investor Relations. Before I hand over to our CEO Daniel Hervére, let me briefly outline today's agenda. As per usual, Daniel will start with a high-level overview of the quarter and the full year. This will be followed by a more detailed financial review from our CFO, Adam Karlsson. Daniel will then highlight strategic progress, priorities going forward, and Adam will share a financial outlook. We will close the conference with a Q&A session where Daniel, Adam and I will be available to answer your questions. So with that, please welcome Daniel. Good morning everyone, both those of you joining us here and those of you joining us online. Today I'm concluding my second year as CEO of the H&M Group and with that I feel confident that we are on the right track. I want to start by saying that the progress that we saw in the third quarter has continued into the fourth quarter across several key areas, even though the world around us continues to be uncertain. Sales in the quarter increased by 2% in local currencies. We increased our operating profit by 38% in the quarter, corresponding to a margin of 10.7% for the quarter. This increase was mainly due to a further strengthening of our customer offering, as well as maintained good cost control and an improved inventory efficiency. Looking at the full year 2025, it shows a solid progress across all our key areas and we continue to strengthen our foundation for future profitable growth. The sales trend was positive over the year as a whole and profitability strengthened during the second half. For the full year, sales increased by 2% in local currencies ...