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Investor AB swings to loss YOY in Q4'17

Private equity and venture capital firm Investor AB posted loss attributable to the parent company of 1.01 billion Swedish kronor, or 1.32 kronor per share, compared to net profit of 9.18 billion kronor in the same period in 2016.

Net sales rose to 8.95 billion kronor for the quarter that ended Dec. 31, 2017, from 8.75 billion kronor in the prior-year quarter.

Sales and marketing costs totaled 1.01 billion kronor and administrative, research-and-development and other operating cost amounted to 2.13 billion kronor. "Changes in value" totaled negative 1.02 billion kronor, compared to positive 6.68 billion kronor in the fourth quarter of 2016.

The company reported an operating loss of 302 million kronor in the fourth quarter of 2017, compared to operating profit of 8.74 billion kronor in the prior-year quarter.

In full-year terms, net profit attributable to the company surged to 44.32 billion kronor, or 57.90 kronor per share, in 2017, from 33.67 billion kronor, or 44.02 kronor per share, in 2016.

As of March 28, US$1 was equivalent to 8.31 Swedish kronor.