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Industrivarden Q1 profit climbs 107.9% YOY

AB Industrivarden said its first-quarter normalized net income was 16.33 Swedish kronor per share, a gain of 106.7% from 7.90 kronor per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.31 billion kronor, a gain of 107.9% from 3.52 billion kronor in the prior-year period.

The normalized profit margin climbed to 61.8% from 60.7% in the year-earlier period.

Total revenue grew 104.3% on an annual basis to 11.83 billion kronor from 5.79 billion kronor, and total operating expenses grew 69.4% on an annual basis to 61.0 million kronor from 36.0 million kronor.

Reported net income rose 107.9% on an annual basis to 11.70 billion kronor, or 26.13 kronor per share, from 5.63 billion kronor, or 12.64 kronor per share.

As of April 8, US$1 was equivalent to 8.66 Swedish kronor.