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Investor AB Q3 profit falls YOY

Investor AB said its third-quarter normalized net income was 4.50 Swedish kronor per share, a decline of 82.2% from 25.23 kronor per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.45 billion kronor, a decline of 82.1% from 19.31 billion kronor in the year-earlier period.

The normalized profit margin declined to 26.3% from 50.7% in the year-earlier period.

Total revenue declined 65.6% on an annual basis to 13.12 billion kronor from 38.09 billion kronor, and total operating expenses increased 8.0% year over year to 7.39 billion kronor from 6.84 billion kronor.

Reported net income fell 82.5% year over year to 5.38 billion kronor, or 7.02 kronor per share, from 30.77 billion kronor, or 40.21 kronor per share.

As of Oct. 17, US$1 was equivalent to 8.16 Swedish kronor.