1、ANNUAL REPORT2014Dress 99Blazer 19.99H&M SPRING 2015MODERN ESSENTIALSSELECTED BY DAVID BECKHAMSPRING 2015Shirt 19.99H&M SPRING 2014Sweater 19.95H&Ms annual accounts and consolidated accounts for the financial year 2013/14 comprise pages 6090.H&M IN WORDS AND PICTURESThis is H&M 8CEO letter 102014 in

2、 brief 12Our brands 16Sustainable development 36Our employees 42Expansion 46History 54H&M IN FIGURES Administration report,including proposeddistribution of earnings 60Group income statement 66Consolidated statement of comprehensive income 66Group balance sheet 67Group changes in equity 68Group cash

3、 flow statement 69Parent company income statement 70Parent company statement of comprehensive income 70Parent company balance sheet 71Parent company changes in equity 72Parent company cash flow statement 73 Notes to the financial statements 74Signing of the annual report 90Auditors report 91 Corpora

4、te governance report,including informationabout the board of directors 92Auditors statement on the corporate governance report 104Five year summary 106The H&M share 107Financial information and contact details 108Contents H&M ANNUAL REPORT 2014 THIS IS H&M Fashion and quality at the best priceH&M is

5、 a leading global fashion company with strong values and a clear business concept.H&M has a passion for fashion,a belief in people and a desire to always exceed customers expectations and to do so in a sustainable way.CUSTOMER OFFERINGH&M makes sustainable,good-quality fashion accessible to people a

6、ll over the world.With a passion for design,a focus on quality and targeted sustain-ability work,H&M constantly strives to have the best customer offering in each individual market which includes giving customers the best price.Through multiple brands and concepts H&M offers a broad and varied range