H&M's net sales in SEK increased by 8 percent in the first nine months of the financial year to SEK 173,385 m. In local currencies, net sales were flat compared with the previous year.

Operating profit increased to SEK 10,205 m, corresponding to an operating margin of 5.9 percent. In 2022 one-time costs for Russia of SEK 1,751 m were charged against the nine-month result. Adjusted for these one-time costs the increase compared with the previous year was 26 percent.

The result after tax increased by 61 percent to SEK 7,147 m, corresponding to SEK 4.39 per share.

Cash flow from operating activities increased to SEK 24,742 m.

Third quarter:

Net sales increased by 6 percent to SEK 60,897 m in the third quarter. In local currencies, net sales were flattish compared with the previous year.

Operating profit increased to SEK 4,739 m, corresponding to an operating margin of 7.8 percent. One-time costs of SEK 2,104 m for winding down the Russian operations were charged to the third quarter 2022. Adjusted for these one-time costs the increase compared with the previous year was 58 percent.

The result after tax increased to SEK 3,319 m, corresponding to SEK 2.04 per share.