MIRA INFORM REPORT

Report Date :

21.10.2013

IDENTIFICATION DETAILS

Name :	H & M HENNES & MAURITZ GBC AB

Registered Office :	Stockholm, 10638

Country :	Sweden

Financials (as on) :	30.11.2012

Year of Incorporation :	1959

Com. Reg. No.:	5560701715

Legal Form :	Private Subsidiary

Line of Business :	Subject is engaged in the merchant wholesale distribution of footwear (including athletic) of leather, rubber, and other materials.

No. of Employees :	1,249

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Sweden

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SWEDEN - ECONOMIC OVERVIEW

Aided by peace and neutrality for the whole of the 20th century, Sweden has achieved an enviable standard of living under a mixed system of high-tech capitalism and extensive welfare benefits. It has a modern distribution system, excellent internal and external communications, and a highly skilled labor force. In September 2003, Swedish voters turned down entry into the euro system concerned about the impact on the economy and sovereignty. Timber, hydropower, and iron ore constitute the resource base of an economy heavily oriented toward foreign trade. Privately owned firms account for vast majority of industrial output, of which the engineering sector accounts for about 50% of output and exports. Agriculture accounts for little more than 1% of GDP and of employment. Until 2008, Sweden was in the midst of a sustained economic upswing, boosted by increased domestic demand and strong exports. This and robust finances offered the center-right government considerable scope to implement its reform program aimed at increasing employment, reducing welfare dependence, and streamlining the state's role in the economy. Despite strong finances and underlying fundamentals, the Swedish economy slid into recession in the third quarter of 2008 and the contraction continued in 2009 as deteriorating global conditions reduced export demand and consumption. Strong exports of commodities and a return to profitability by Sweden's banking sector drove the strong rebound in 2010, which continued in 2011, but growth slipped to 1.2% in 2012. The government proposed stimulus measures in 2012 to curb the effects of a global economic slowdown and boost employment and growt

Source : CIA

Company name and address

H & M HENNES & MAURITZ GBC AB




Stockholm, 10638
Sweden


Tel:	+46 8 796 55 00

Employees:	1,249
Company Type:	Private Subsidiary
Corporate Family:	335 Companies
Ultimate Parent:	H & M Hennes & Mauritz AB

Incorporation Date:	1959


Fiscal Year End:	30-Nov-2012
Reporting Currency:	Swedish Krona
Annual Sales:	11,005.3
Net Income:	891.9
Total Assets:	3,186.3

Business Description

H & M Hennes & Mauritz GBC AB is primarily engaged in the merchant wholesale distribution of footwear (including athletic) of leather, rubber, and other materials.

Industry

Industry	Clothing and Apparel Wholesale
ANZSIC 2006:	3712 - Clothing and Footwear Wholesaling
ISIC Rev 4:	4641 - Wholesale of textiles, clothing and footwear
NACE Rev 2:	4642 - Wholesale of clothing and footwear
NAICS 2012:	424340 - Footwear Merchant Wholesalers
UK SIC 2007:	4642 - Wholesale of clothing and footwear
US SIC 1987:	5139 - Footwear

Key Executives

Name	Title
Karl-Johan Erling Persson	verkst dir
Carl Stefan Persson	ledamot

Key IDSM Number: 102548974

Registered No.(SWE): 5560701715

1 - Profit & Loss Item Exchange Rate: USD 1 = SEK 6.795442

2 - Balance Sheet Item Exchange Rate: USD 1 = SEK 6.680103

Corporate Overview

Location
Stockholm, 10638
Sweden

Tel:	+46 8 796 55 00

Suggest Company URL

Sales SEK(mil):	74,786.0
Assets SEK(mil):	21,285.0
Employees:	1,249
Fiscal Year End:	30-Nov-2012


Industry:	Footwear

Incorporation Date:	1959
Company Type:	Private Subsidiary
Quoted Status:	Not Quoted
Registered No.(SWE):	5560701715


verkst dir:	Karl-Johan Erling Persson

Industry Codes

ANZSIC 2006 Codes:
3712	-	Clothing and Footwear Wholesaling
371	-	Textile, Clothing and Footwear Wholesaling
3711	-	Textile Product Wholesaling

ISIC Rev 4 Codes:
4641	-	Wholesale of textiles, clothing and footwear
464	-	Wholesale of household goods

NACE Rev 2 Codes:
4642	-	Wholesale of clothing and footwear
464	-	Wholesale of household goods
4641	-	Wholesale of textiles

NAICS 2012 Codes:
424340	-	Footwear Merchant Wholesalers
42434	-	Footwear Merchant Wholesalers
4243	-	Apparel, Piece Goods, and Notions Merchant Wholesalers
424310	-	Piece Goods, Notions, and Other Dry Goods Merchant Wholesalers
42431	-	Piece Goods, Notions, and Other Dry Goods Merchant Wholesalers

US SIC 1987:
5139	-	Footwear
5131	-	Piece Goods, Notions, and Other Dry Good
513	-	Apparel, Piece Goods, and Notions

UK SIC 2007:
4642	-	Wholesale of clothing and footwear
464	-	Wholesale of household goods
4641	-	Wholesale of textiles

Business Description

H & M Hennes & Mauritz GBC AB is primarily engaged in the merchant wholesale distribution of footwear (including athletic) of leather, rubber, and other materials.

Financial Data

Financials in:	SEK(mil)

Revenue:	74,786.0
Net Income:	6,061.0
Assets:	21,285.0
Total Liabilities:	7,451.0

Date of Financial Data:	30-Nov-2012

1 Year Growth

Corporate Structure News

Company Name	Company Type	Location	Country	Industry	Sales (USD mil)	Employees
H & M Hennes & Mauritz AB	Parent	Stockholm	Sweden	Clothing and Apparel Manufacturing	17,776.5	104,000
H & M Hennes & Mauritz SA	Subsidiary	Geneva	Switzerland	Clothing and Apparel Stores	921.1	87,000
H&M Hennes & Mauritz UK Ltd.	Subsidiary	London	United Kingdom	Clothing and Apparel Stores	1,228.5	5,600
H & M Hennes	UK Branch/Trading address	Solihull	United Kingdom	Clothing and Apparel Stores	1,228.5	40
H & M Hennes	UK Branch/Trading address	Dundee	United Kingdom	Clothing and Apparel Stores	1,228.5	34
H & M	UK Branch/Trading address	Exeter	United Kingdom	Clothing and Apparel Stores	1,228.5
H & M	UK Branch/Trading address	Northampton	United Kingdom	Clothing and Apparel Stores	1,228.5
H & M	UK Branch/Trading address	Bristol	United Kingdom	Clothing and Apparel Stores	1,228.5
H & M Hennes & Mauritz SARL	Subsidiary	Paris	France	Clothing and Apparel Stores	1,268.9	5,182
Hennes And Mauritz Sl	Subsidiary	Barcelona	Spain	Clothing and Apparel Stores	729.8	3,322
H&M Hennes & Mauritz S.r.l.	Subsidiary	Rome	Italy	Clothing and Apparel Wholesale	589.6	2,869
H & M Hennes & Mauritz GesmbH	Subsidiary	Wien	Austria	Clothing and Apparel Stores	561.6	2,642
H & M Hennes & Mauritz	Subsidiary	Bruxelles	Belgium	Clothing and Apparel Stores	450.7	1,971
H & M Hennes & Mauritz AS	Subsidiary	Oslo	Norway	Clothing and Apparel Stores	677.1	1,546
H & M Hennes & Mauritz A/S	Subsidiary	KÃ¸benhavn K	Denmark	Clothing and Apparel Stores	413.6	1,462
H & M Hennes & Mauritz GBC AB	Subsidiary	Stockholm, Stockholm	Sweden	Clothing and Apparel Wholesale	11,005.3	1,249
H & M Hennes & Mauritz Logistics GBC	Subsidiary	Le Bourget	France	Consulting Services	35.3
H & M Hennes & Mauritz Logistics AB Co. KG	Subsidiary	Hamburg, Hamburg	Germany	Consulting Services	160.5	1,210
H&M Hennes & Mauritz Sp.z.o.o.	Subsidiary	Warsaw	Poland	Clothing and Apparel Wholesale		1,000
H&M Rowells AB	Holding	Boras	Sweden	Non-store Retail		700
H & M Hennes & Mauritz TR Tekstil ltd sirketi	Subsidiary	Istanbul	Turkey	Clothing and Apparel Stores		350
H & M Hennes & Mauritz (Ireland) Ltd	Subsidiary	Dublin	Ireland	Clothing and Apparel Stores	68.3	323
Hennes Mauritz (Shanghai) Commercial Ltd Co	Subsidiary	Shanghai	China	Clothing and Apparel Manufacturing		300
H&M Hennes & Mauritz A.E.	Subsidiary	Athens	Greece	Clothing and Apparel Stores		250
Fabric Retail Glbl AB	Subsidiary	Gothenburg	Sweden	Clothing and Apparel Stores		85
H & M Hennes & Mauritz Netherlands BV	Subsidiary	Amsterdam	Netherlands	Clothing and Apparel Stores	1,025.0	80
H&M Hennes & Mauritz Holding BV	Subsidiary	Amsterdam	Netherlands	Holding Companies		70
H & M Hennes & Mauritz BV & Co KG	Subsidiary	Hamburg, Hamburg	Germany	Clothing and Apparel Stores	3,245.3	11,800
Impuls GmbH	Subsidiary	Hamburg, Hamburg	Germany	Clothing and Apparel Wholesale		80
Hennes & Mauritz, Lda	Subsidiary	Lisboa, Lisboa	Portugal	Clothing and Apparel Stores	112.7	802
H & M Hennes & Mauritz Oy	Subsidiary	Helsinki	Finland	Clothing and Apparel Stores	217.9	798
H&M Hennes & Mauritz LP	Subsidiary	New York, NY	United States	Home Furnishings Wholesale		70
H&M	Branch	San Francisco, CA	United States	Clothing and Apparel Stores	32.8	200
H&M	Branch	New York, NY	United States	Clothing and Apparel Stores	27.4	175
H&M	Branch	Brooklyn, NY	United States	Clothing and Apparel Stores	12.5	80
H&M	Branch	Flushing, NY	United States	Clothing and Apparel Stores	11.7	75
H&M	Branch	New York, NY	United States	Clothing and Apparel Stores	11.0	70
H&M	Branch	New York, NY	United States	Clothing and Apparel Stores	11.0	70
H&M	Branch	Boston, MA	United States	Clothing and Apparel Stores	10.4	70
H&M	Branch	Austin, TX	United States	Clothing and Apparel Stores	9.9	60
H&M	Branch	Philadelphia, PA	United States	Clothing and Apparel Stores	9.0	60
H&M	Branch	Chicago, IL	United States	Clothing and Apparel Stores	8.6	55
H&M	Branch	Canoga Park, CA	United States	Clothing and Apparel Stores	8.2	50
H&M	Branch	Arcadia, CA	United States	Clothing and Apparel Stores	8.2	50
H&M	Branch	Schaumburg, IL	United States	Clothing and Apparel Stores	7.8	50
H&M	Branch	Vernon Hills, IL	United States	Clothing and Apparel Stores	7.8	50
H&M	Branch	Denver, CO	United States	Clothing and Apparel Stores	7.6	50
H&M	Branch	Cleveland, OH	United States	Clothing and Apparel Stores	7.1	50
H&M	Branch	Washington, DC	United States	Clothing and Apparel Stores	6.1	50
H&M	Branch	Milpitas, CA	United States	Clothing and Apparel Stores	7.4	45
H&M	Branch	Ontario, CA	United States	Clothing and Apparel Stores	7.4	45
H&M	Branch	New York, NY	United States	Clothing and Apparel Stores	6.6	42
H&M	Branch	Paramus, NJ	United States	Clothing and Apparel Stores	6.6	40
H&M	Branch	San Francisco, CA	United States	Clothing and Apparel Stores	6.6	40
H&M	Branch	Costa Mesa, CA	United States	Clothing and Apparel Stores	6.6	40
H&M	Branch	Syracuse, NY	United States	Clothing and Apparel Stores	6.3	40
H&M	Branch	Washington, DC	United States	Clothing and Apparel Stores	4.9	40
H&M	Branch	White Plains, NY	United States	Clothing and Apparel Stores	5.5	35
H&M	Branch	Albany, NY	United States	Clothing and Apparel Stores	5.5	35
H&M	Branch	San Jose, CA	United States	Clothing and Apparel Stores	4.9	30
H&M	Branch	Orland Park, IL	United States	Clothing and Apparel Stores	4.7	30
H&M	Branch	Westbury, NY	United States	Clothing and Apparel Stores	4.7	30
H&M	Branch	Garden City, NY	United States	Clothing and Apparel Stores	4.7	30
H&M	Branch	Holyoke, MA	United States	Clothing and Apparel Stores	4.4	30
H&M	Branch	Lake Grove, NY	United States	Clothing and Apparel Stores	4.5	29
H&M	Branch	Wilmington, DE	United States	Clothing and Apparel Stores	4.3	28
H&M	Branch	Woodbridge, VA	United States	Clothing and Apparel Stores	3.9	26
H&M	Branch	Eatontown, NJ	United States	Clothing and Apparel Stores	4.1	25
H&M	Branch	Farmington, CT	United States	Clothing and Apparel Stores	4.0	25
H&M	Branch	Columbia, MD	United States	Clothing and Apparel Stores	3.9	25
H&M	Branch	Bensalem, PA	United States	Clothing and Apparel Stores	3.8	25
H&M	Branch	Braintree, MA	United States	Clothing and Apparel Stores	3.7	25
H&M	Branch	Westlake, OH	United States	Clothing and Apparel Stores	3.6	25
H&M	Branch	Milford, CT	United States	Clothing and Apparel Stores	3.9	24
H&M	Branch	Brookfield, WI	United States	Clothing and Apparel Stores	3.3	24
H&M	Branch	Hicksville, NY	United States	Clothing and Apparel Stores	3.3	21
H&M	Branch	Staten Island, NY	United States	Clothing and Apparel Stores	3.3	21
H&M	Branch	Cambridge, MA	United States	Clothing and Apparel Stores	3.1	21
H&M	Branch	Tukwila, WA	United States	Clothing and Apparel Stores	3.4	20
H&M	Branch	Seattle, WA	United States	Clothing and Apparel Stores	3.4	20
H&M	Branch	Seattle, WA	United States	Clothing and Apparel Stores	3.4	20
H&M	Branch	Tacoma, WA	United States	Clothing and Apparel Stores	3.4	20
H&M	Branch	Mesquite, TX	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Dallas, TX	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Plano, TX	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Houston, TX	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Friendswood, TX	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Livingston, NJ	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Atlantic City, NJ	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	North Arlington, NJ	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Phillipsburg, NJ	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Cherry Hill, NJ	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Wayne, NJ	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Freehold, NJ	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Hackensack, NJ	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Martinsville, NJ	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Jersey City, NJ	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Woodbridge, NJ	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Woodbridge, NJ	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Secaucus, NJ	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Walnut Creek, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	West Hollywood, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Pasadena, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Emeryville, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	West Hollywood, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	San Francisco, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	National City, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Santa Monica, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Glendale, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Chula Vista, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Riverside, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Corona, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Whittier, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Roseville, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Etiwanda, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Los Angeles, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Modesto, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Orange, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Commerce, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Brea, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	West Covina, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Santa Barbara, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	San Jose, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	El Segundo, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Carlsbad, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	San Rafael, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Temecula, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Daly City, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	San Mateo, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Culver City, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Northridge, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	San Diego, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Torrance, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Ventura, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Los Angeles, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Los Angeles, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Santa Ana, CA	United States	Clothing and Apparel Stores	3.3	20
H&M	Branch	Las Vegas, NV	United States	Clothing and Apparel Stores	3.2	20
H&M	Branch	Las Vegas, NV	United States	Clothing and Apparel Stores	3.2	20
H&M	Branch	Las Vegas, NV	United States	Clothing and Apparel Stores	3.2	20
H&M	Branch	Trumbull, CT	United States	Clothing and Apparel Stores	3.2	20
H&M	Branch	Geneva, IL	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Aurora, IL	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Chicago, IL	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Bolingbrook, IL	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Oak Brook, IL	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Oak Brook, IL	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Romeoville, IL	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Northbrook, IL	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Chicago, IL	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Kingston, NY	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Rochester, NY	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Valley Stream, NY	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	New York, NY	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	New York, NY	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Yonkers, NY	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	New York, NY	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	New York, NY	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Cheektowaga, NY	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Yonkers, NY	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Middletown, NY	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	New York, NY	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	New York, NY	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	New York, NY	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Sanford, FL	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Orlando, FL	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Altamonte Spgs, FL	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Palm Beach Gdns, FL	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Tampa, FL	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Jacksonville, FL	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Miami Beach, FL	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Miami, FL	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Scottsdale, AZ	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Tucson, AZ	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Tucson, AZ	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Salt Lake City, UT	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Tempe, AZ	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Scottsdale, AZ	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Salt Lake City, UT	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Towson, MD	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Annapolis, MD	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Waldorf, MD	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Wheaton, MD	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Gaithersburg, MD	United States	Clothing and Apparel Stores	3.1	20
H&M	Branch	Broomfield, CO	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Denver, CO	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	King Of Prussia, PA	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Philadelphia, PA	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Pittsburgh, PA	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Philadelphia, PA	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Willow Grove, PA	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Pittsburgh, PA	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Buford, GA	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Alpharetta, GA	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Atlanta, GA	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Kennesaw, GA	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Atlanta, GA	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Portland, OR	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Happy Valley, OR	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Tigard, OR	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Raleigh, NC	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Winston Salem, NC	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	South Portland, ME	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Virginia Beach, VA	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Fairfax, VA	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Norfolk, VA	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Manassas, VA	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Hampton, VA	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Mc Lean, VA	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Boston, MA	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Peabody, MA	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Dedham, MA	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	North Attleboro, MA	United States	Clothing and Apparel Stores	3.0	20
H&M	Branch	Providence, RI	United States	Clothing and Apparel Stores	2.9	20
H&M	Branch	St Louis, MO	United States	Clothing and Apparel Stores	2.9	20
H&M	Branch	St Louis, MO	United States	Clothing and Apparel Stores	2.9	20
H&M	Branch	Chesterfield, MO	United States	Clothing and Apparel Stores	2.9	20
H&M	Branch	Kansas City, MO	United States	Clothing and Apparel Stores	2.9	20
H&M	Branch	Indianapolis, IN	United States	Clothing and Apparel Stores	2.9	20
H&M	Branch	Indianapolis, IN	United States	Clothing and Apparel Stores	2.9	20
H&M	Branch	Lafayette, IN	United States	Clothing and Apparel Stores	2.9	20
H&M	Branch	Beavercreek, OH	United States	Clothing and Apparel Stores	2.8	20
H&M	Branch	North Olmsted, OH	United States	Clothing and Apparel Stores	2.8	20
H&M	Branch	Cincinnati, OH	United States	Clothing and Apparel Stores	2.8	20
H&M	Branch	Columbus, OH	United States	Clothing and Apparel Stores	2.8	20
H&M	Branch	Florence, KY	United States	Clothing and Apparel Stores	2.8	20
H&M	Branch	Edina, MN	United States	Clothing and Apparel Stores	2.8	20
H&M	Branch	Bloomington, MN	United States	Clothing and Apparel Stores	2.8	20
H&M	Branch	Minneapolis, MN	United States	Clothing and Apparel Stores	2.8	20
H&M	Branch	Sterling Heights, MI	United States	Clothing and Apparel Stores	2.8	20
H&M	Branch	Ann Arbor, MI	United States	Clothing and Apparel Stores	2.8	20
H&M	Branch	Dearborn, MI	United States	Clothing and Apparel Stores	2.8	20
H&M	Branch	Clinton Twp, MI	United States	Clothing and Apparel Stores	2.8	20
H&M	Branch	Novi, MI	United States	Clothing and Apparel Stores	2.8	20
H&M	Branch	Madison, WI	United States	Clothing and Apparel Stores	2.7	20
H&M	Branch	Glendale, WI	United States	Clothing and Apparel Stores	2.7	20
H&M	Branch	Greendale, WI	United States	Clothing and Apparel Stores	2.7	20
H&M	Branch	Los Angeles, CA	United States	Clothing and Apparel Stores	3.1	19
H&M	Branch	Gurnee, IL	United States	Clothing and Apparel Stores	3.0	19
H&M	Branch	Fort Wayne, IN	United States	Clothing and Apparel Stores	2.7	19
H&M	Branch	Montclair, CA	United States	Clothing and Apparel Stores	2.9	18
H&M	Branch	Danbury, CT	United States	Clothing and Apparel Stores	2.7	17
H&M	Branch	Cleveland, OH	United States	Clothing and Apparel Stores	2.4	17
H&M	Branch	Sterling, VA	United States	Clothing and Apparel Stores	2.4	16
H&M	Branch	Elizabeth, NJ	United States	Clothing and Apparel Stores	2.5	15
H&M	Branch	Concord, CA	United States	Clothing and Apparel Stores	2.5	15
H&M	Branch	Los Angeles, CA	United States	Clothing and Apparel Stores	2.5	15
H&M	Branch	Waterford, CT	United States	Clothing and Apparel Stores	2.4	15
H&M	Branch	Waterbury, CT	United States	Clothing and Apparel Stores	2.4	15
H&M	Branch	Victor, NY	United States	Clothing and Apparel Stores	2.3	15
H&M	Branch	New Hartford, NY	United States	Clothing and Apparel Stores	2.3	15
H&M	Branch	Poughkeepsie, NY	United States	Clothing and Apparel Stores	2.3	15
H&M	Branch	Hanover, MD	United States	Clothing and Apparel Stores	2.3	15
H&M	Branch	Kensington, MD	United States	Clothing and Apparel Stores	2.3	15
H&M	Branch	Owings Mills, MD	United States	Clothing and Apparel Stores	2.3	15
H&M	Branch	Plymouth Meeting, PA	United States	Clothing and Apparel Stores	2.3	15
H&M	Branch	Pittsburgh, PA	United States	Clothing and Apparel Stores	2.3	15
H&M	Branch	Richmond, VA	United States	Clothing and Apparel Stores	2.2	15
H&M	Branch	Dublin, OH	United States	Clothing and Apparel Stores	2.1	15
H&M	Branch	Toledo, OH	United States	Clothing and Apparel Stores	2.1	15
H&M	Branch	Woodbury, MN	United States	Clothing and Apparel Stores	2.1	15
H&M	Branch	Rockaway, NJ	United States	Clothing and Apparel Stores	2.3	14
H&M	Branch	Yorktown Heights, NY	United States	Clothing and Apparel Stores	2.2	14
H&M	Branch	Baltimore, MD	United States	Clothing and Apparel Stores	2.2	14
H&M	Branch	Tarentum, PA	United States	Clothing and Apparel Stores	2.1	14
H&M	Branch	Chino Hills, CA	United States	Clothing and Apparel Stores	2.1	13
H&M	Branch	Manchester, CT	United States	Clothing and Apparel Stores	1.8	11
H&M	Branch	North Wales, PA	United States	Clothing and Apparel Stores	1.7	11
H&M	Branch	Paramus, NJ	United States	Clothing and Apparel Stores	1.6	10
H&M	Branch	Chicago, IL	United States	Clothing and Apparel Stores	1.6	10
H&M	Branch	Saratoga Springs, NY	United States	Clothing and Apparel Stores	1.6	10
H&M	Branch	Exton, PA	United States	Clothing and Apparel Stores	1.5	10
H&M	Branch	Taunton, MA	United States	Clothing and Apparel Stores	1.5	10
H&M	Branch	Saugus, MA	United States	Clothing and Apparel Stores	1.5	10
H&M	Branch	Massapequa, NY	United States	Clothing and Apparel Stores	1.4	9
H&M	Branch	Irvine, CA	United States	Clothing and Apparel Stores	0.3	2
H&M	Branch	Port Arthur, TX	United States	Clothing and Apparel Stores	0.2	1
H & M Hennes & Mauritz Management B.V.	Subsidiary	Amsterdam	Netherlands	Clothing and Apparel Stores		70
H&M Hennes & Mauritz International B.V.	Subsidiary	Amsterdam	Netherlands	Pensions and Funds		65
H & M Hennes & Mauritz Sverige Ab	Subsidiary	Stockholm, Stockholm	Sweden	Clothing and Apparel Stores	857.2	50
H&M	Subsidiary	West Nyack, NY	United States	Clothing and Apparel Stores	7.8	50
H&M Hennes & Mauritz Inc.	Subsidiary	Toronto, ON	Canada	Clothing and Apparel Stores		30
H&M	Branch	North York, ON	Canada	Clothing and Apparel Stores	22.3	90
H&M	Branch	Coquitlam, BC	Canada	Clothing and Apparel Stores	22.2	90
H&M	Branch	Concord, ON	Canada	Clothing and Apparel Stores	18.5	75
H&M	Branch	Markham, ON	Canada	Clothing and Apparel Stores	12.6	51
H&M	Branch	North York, ON	Canada	Clothing and Apparel Stores	12.4	50
H&M	Branch	Oakville, ON	Canada	Clothing and Apparel Stores	12.3	50
H&M	Branch	Pointe-Claire, QC	Canada	Clothing and Apparel Stores	11.1	45
H&M	Branch	London, ON	Canada	Clothing and Apparel Stores	11.0	45
H&M	Branch	Thornhill, ON	Canada	Clothing and Apparel Stores	9.9	40
H&M	Branch	Edmonton, AB	Canada	Clothing and Apparel Stores	7.4	30
H&M	Branch	Waterloo, ON	Canada	Clothing and Apparel Stores	7.3	30
H&M	Branch	Laval, QC	Canada	Clothing and Apparel Stores	7.3	30
H&M	Branch	Brossard, QC	Canada	Clothing and Apparel Stores	5.6	23
H&M	Branch	Quebec, QC	Canada	Clothing and Apparel Stores	4.9	20
H&M	Branch	Brossard, QC	Canada	Clothing and Apparel Stores	4.4	18
H&M Hennes & Mauritz, S.A. De C.V.	Subsidiary	Ciudad De Mexico, Distrito Federal	Mexico	Clothing and Apparel Stores		18
H&M	Branch	Montreal, QC	Canada	Clothing and Apparel Stores	2.7	11
H&M	Branch	Toronto, ON	Canada	Clothing and Apparel Stores	1.5	6
H&M	Branch	Toronto, ON	Canada	Clothing and Apparel Stores	1.5	6
H&M	Branch	Scarborough, ON	Canada	Clothing and Apparel Stores	1.5	6
H&M	Branch	Toronto, ON	Canada	Clothing and Apparel Stores	1.5	6
H&M	Branch	Rosemere, QC	Canada	Clothing and Apparel Stores	1.5	6
H&M	Branch	Calgary, AB	Canada	Clothing and Apparel Stores	1.5	6
H&M	Branch	Mont-Royal, QC	Canada	Clothing and Apparel Stores	1.5	6
H&M	Branch	Montreal, QC	Canada	Clothing and Apparel Stores	1.5	6
H&M	Branch	Brampton, ON	Canada	Clothing and Apparel Stores	1.5	6
H&M	Branch	Windsor, ON	Canada	Clothing and Apparel Stores	1.5	6
H&M	Branch	Vancouver, BC	Canada	Clothing and Apparel Stores	1.5	6
H&M	Branch	Red Deer, AB	Canada	Clothing and Apparel Stores	1.5	6
H&M	Branch	Burnaby, BC	Canada	Clothing and Apparel Stores	1.5	6
H&M	Branch	Dartmouth, NS	Canada	Clothing and Apparel Stores	1.5	6
H&M	Branch	Mississauga, ON	Canada	Clothing and Apparel Stores	1.5	6
H&M Hennes & Mauritz (Ireland) Ltd	Subsidiary	London	United Kingdom	Clothing and Apparel Wholesale		20
KE Persson AB	Holding	Strangnas	Sweden	Metal Products Manufacturing		4
H & M Hennes & Mauritz International B.V.	Subsidiary	Amsterdam, Noord-Holland	Netherlands	Banking	761.8
FaBric Scandinavien AB	Subsidiary	TranÃ¥s, JÃ¶nkÃ¶ping	Sweden	Clothing and Apparel Wholesale	3.0
Weekday Brands AB	Subsidiary	TranÃ¥s, JÃ¶nkÃ¶ping	Sweden	Clothing and Apparel Wholesale	41.0	59
H&M Hennes & Mauritz (HK) Ltd	Subsidiary	Kowloon	Hong Kong	Clothing and Apparel Wholesale
H & M Hennes & Mauritz Logistics Sp. z.o.o.	Subsidiary	Gadki	Poland	Consulting Services
H & M Hennes & Mauritz Japan Kk	Subsidiary	Shibuya-Ku, Tokyo	Japan	Clothing and Apparel Stores
H&M Hennes & Mauritz Far East Ltd	Subsidiary	Kowloon	Hong Kong	Clothing and Apparel Wholesale
H&M Hennes & Mauritz Netherlands BV	Subsidiary	Amsterdam	Netherlands	Clothing and Apparel Stores
H&M Hennes & Mauritz USA BV	Subsidiary	Amsterdam	Netherlands	Pensions and Funds
H & M Hennes & Mauritz CZ, s.r.o.	Subsidiary	Prague	Czech Republic	Clothing and Apparel Stores
Puls Trading Far East Ltd	Subsidiary	Kowloon	Hong Kong	Clothing and Apparel Wholesale
FaBric Sales AB & Co. KG	Subsidiary	Hamburg	Germany	Clothing and Apparel Wholesale
Weekday Brands AB	Subsidiary	Uppsala	Sweden	Clothing and Apparel Stores
FaBric Sales A/S	Subsidiary	Copenhagen	Denmark	Clothing and Apparel Stores
H & M Hennes & Mauritz LLP	Subsidiary	Moscow	Russian Federation	Clothing and Apparel Stores
H & M Hennes & Mauritz online shop AB & Co. KG	Subsidiary	Hamburg	Germany	Non-store Retail
Fabric Sales Sweden AB	Subsidiary	Tranas	Sweden	Clothing and Apparel Stores
Fabric Sales Norway AS	Subsidiary	Oslo	Norway	Clothing and Apparel Stores
H & M Hennes & Mauritz Logistics GBC NV	Subsidiary	Brussels	Belgium	Consulting Services

Executives Report

Board of Directors

Name

Title

Function

Carl Stefan Persson

ledamot

Director/Board Member

Executives

Name

Title

Function

Karl-Johan Erling Persson

verkst dir

Managing Director

Annual Profit & Loss

	30-Nov-2012	30-Nov-2011	30-Nov-2010
Period Length	12 Months	12 Months	12 Months
Filed Currency	SEK	SEK	SEK
Exchange Rate (Period Average)	6.795442	6.495255	7.231097
Consolidated	No	No	No

Total Revenue	11,005.3	10,641.5	9,336.3
Gross Profit	1,546.6	1,445.8	1,565.6
Net Financial Items	53.0	51.9	30.3
Operating Income	1,545.7	1,444.3	1,564.6
Income Before Tax	1,211.3	1,494.9	2,010.3
Net Income	891.9	1,107.1	1,478.8

Annual Balance Sheet

Financials in: USD (mil)

	30-Nov-2012	30-Nov-2011	30-Nov-2010
Filed Currency	SEK	SEK	SEK
Exchange Rate	6.680103	6.7439	7.0326
Consolidated	No	No	No

Total Assets	3,186.3	2,810.5	2,492.3
Provisions	396.7	2.4	1.0
Total Liabilities	1,115.4	997.3	843.4
Total Equity	1,673.3	1,809.8	1,646.9

Annual Ratios

	30-Nov-2012	30-Nov-2011	30-Nov-2010
Period Length	12 Months	12 Months	12 Months
Filed Currency	-	-	-
Exchange Rate	-	-	-
Consolidated	No	No	No

Operating Margin	14.53	14.06	17.08
Current Ratio	283.18	279.23	292.90
Total debt/total equity	61.48	64.45	66.11
Return on average equity	83.02	79.55	99.53

Annual Growth Rates

	30-Nov-2011	30-Nov-2010
Period Length	12 Months	12 Months
Filed Currency	-	-
Exchange Rate	-	-
Consolidated	No	No

Turnover Percent Change	8.20%	2.38%
Marginal Contribution Percent Change	11.92%	-17.05%
Net Financial Items Percent Change	6.82%	53.88%
Operating Results Percent Change	11.97%	-17.09%
Profit/Loss Before Tax Percent Change	-15.23%	-33.20%
Profit/Loss for the Year Percent Change	-15.71%	-32.75%
Assets Percent Change	12.30%	8.14%
Provisions Percent Change	16,462.50%	128.57%
Debts Percent Change	10.78%	13.40%
Equity Capital Percent Change	-8.41%	5.38%
Operating Margin Percent Change	3.34%	-17.68%
Current Ratio Percent Change	1.41%	-4.67%
Debt/Equity Ratio Percent Change	-4.61%	-2.51%
Retun On Equity Percent Change	4.36%	-20.07%

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.28
UK Pound	1	Rs.99.03
Euro	1	Rs.83.80

INFORMATION DETAILS

Report Prepared by :

NIS

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.