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Industrivarden Q3 profit falls YOY

AB Industrivarden said its third-quarter normalized net income was 2.18 Swedish kronor per share, a decrease of 77.4% from 9.64 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 949.4 million kronor, a decrease of 78.4% from 4.39 billion kronor in the year-earlier period.

The normalized profit margin fell to 61.2% from 61.8% in the year-earlier period.

Total revenue declined 78.1% year over year to 1.55 billion kronor from 7.10 billion kronor, and total operating expenses rose from the prior-year period to 27.0 million kronor from 26.0 million kronor.

Reported net income fell 78.4% on an annual basis to 1.52 billion kronor, or 3.49 kronor per share, from 7.02 billion kronor, or 15.43 kronor per share.

As of Oct. 5, US$1 was equivalent to 8.13 Swedish kronor.