tag:blogger.com,1999:blog-2949218657849719987.post2374853303326184255..comments2024-02-10T10:35:20.557+00:00Comments on My contrarian adventure: Analysis of HM 2020Fredrik von Oberhausenhttp://www.blogger.com/profile/10924238593055161520noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2949218657849719987.post-1065012843242677772020-04-30T22:20:07.502+01:002020-04-30T22:20:07.502+01:00I stand corrected. It appears as if they in 2018 m...I stand corrected. It appears as if they in 2018 moved from reporting in sales in their annual report which was indeed including VAT to report net sales excluding VAT which I missed when looking at the report in 2015 and in 2019.<br /><br />Anyone knows their reason for removing the VAT since 2018 in their sales?<br /><br />The form is now updated.Fredrik von Oberhausenhttps://www.blogger.com/profile/10924238593055161520noreply@blogger.comtag:blogger.com,1999:blog-2949218657849719987.post-66559434508952455782020-04-29T07:45:59.285+01:002020-04-29T07:45:59.285+01:00Hi,
Ok, so we have different definitions of what ...Hi,<br /><br />Ok, so we have different definitions of what 5 years is. That explainse some of it. I belive that the difference in sales between 2019 & 2018 is the difference over 1 year. that gives that the difference between 2019 & 2017 is 2 years, 2019 & 2016 is 3 years, 2019 & 2015 is 4 years and 2019 & 2014 is 5 years. <br /><br />So then I understand your calculation. You have compared the sales number for 2019 excl VAT with the sales number for 2015 incl VAT.<br /><br />If we compare sales 2019 excl VAT = 232 755<br />with sales 2015 excl VAT = 180 861<br />The growth rate becomes 6,5% per year<br /><br />If we compare sales 2019 excl VAT = 232 755<br />with sales 2015 incl VAT = 209 921<br />and assume that there is 5 years between 2015 & 2019<br />We land on a CAGR of 2,1%<br /><br />So then I understand your analysis. Thanks for the clarification!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2949218657849719987.post-34106861484751175492020-04-28T22:34:46.794+01:002020-04-28T22:34:46.794+01:00Hi,
I'm not looking at the last six years but...Hi,<br /><br />I'm not looking at the last six years but I'm looking at the last five years so 2015, 2016, 2017, 2018 and 2019. In these five years H&Ms growth rate has not been very impressive at only 2.1%. The earnings have sadly gone in the other direction with 20.9 bn SEK in 2015 and 13.4 bn in 2019.Fredrik von Oberhausenhttps://www.blogger.com/profile/10924238593055161520noreply@blogger.comtag:blogger.com,1999:blog-2949218657849719987.post-34067395156182381302020-04-28T17:25:40.811+01:002020-04-28T17:25:40.811+01:00Hi,
Where are you getting that low historic growt...Hi,<br /><br />Where are you getting that low historic growth rate from?<br />Sales 2014: 151 419<br />Sales 2019: 232 755<br />232 755 / 151 419 = 1,537<br />1,537 ^ (1/5) = 1,0897 -> CAGR = almost 9%?<br />Is your numbers currency adjusted somehow or what am I missing?Anonymousnoreply@blogger.com