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Industrivarden Q4 profit climbs 1,365.3% YOY

AB Industrivarden said its normalized net income for the fourth quarter was 8.51 Swedish kronor per share, a gain of 1,222.3% from 64 öre per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.07 billion kronor, a gain of 1,365.3% from 277.5 million kronor in the prior-year period.

The normalized profit margin increased to 61.8% from 52.6% in the year-earlier period.

Total revenue grew 1,146.4% on an annual basis to 6.58 billion kronor from 528.0 million kronor, and total operating expenses declined 7.1% on an annual basis to 26.0 million kronor from 28.0 million kronor.

Reported net income rose 1,305.6% year over year to 6.24 billion kronor, or 13.07 kronor per share, from 444.0 million kronor, or 1.03 kronor per share.

For the year, the company's normalized net income totaled 22.19 kronor per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 29.59 kronor.

EPS rose 380.6% from 4.62 kronor in the prior year.

Normalized net income was 10.28 billion kronor, a gain of 415.1% from 2.00 billion kronor in the prior year.

Full-year total revenue increased 367.0% from the prior-year period to 16.77 billion kronor from 3.59 billion kronor, and total operating expenses fell year over year to 112.0 million kronor from 139.0 million kronor.

The company said reported net income increased 421.5% year over year to 16.19 billion kronor, or 34.93 kronor per share, in the full year, from 3.10 billion kronor, or 7.18 kronor per share.

As of Feb. 23, US$1 was equivalent to 8.99 Swedish kronor.