1、ANNUAL REPORT2016 TContentsH&Ms annual accounts and consolidated accounts for the financial year 2015/2016 comprise pages 72102.The H&M group 10Comments by the CEO 142016 in brief 16Our brands 20 H&M 22 H&M Home 28&Other Stories 30 Cheap Monday 31 COS 32 Monki 34 Weekday 35Sustainable development 36

2、 Goals and key indicators 41Our employees 42Expansion 46Market overview 52Five year summary 54The H&M share 55Corporate governance report 2016 56Auditors statement on the corporate governance report 70Administration report 72Financial reports 78 Group income statement 78 Consolidated statement of co

3、mprehensive income 78 Group balance sheet 80 Group changes in equity 82 Group cash flow statement 83 Parent company income statement 84 Parent company statement of comprehensive income 84 Parent company balance sheet 85 Parent company changes in equity 86 Parent company cash flow statement 87Notes t

4、o the financial statement 88Signing of the annual report 102Auditors report 103Our history 104Calendar and contact details 10610THE H&M GROUPFashion and design our passionWith our brands we want to inspire fashion fans around the world to dress their own personal style.We are driven by a desire to a

5、lways create the best offering for our customers and to do so in a sustainable way.We love fashion and design.Our unique brands make us one of the worlds leading fashion companies.With 4,351 stores in 64 markets and e-commerce in 35 H&M markets,we have a global store net-work and a strong digital pr

6、esence.We are driven by a desire to always create the best offering and the best experience for our cus-tomers and to do so in a sustainable way.With a vision to lead the change towards a circular,fair and equal fashion industry,we use our size and our position to drive positive change for people an