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Industrivarden Q3 loss widens 321.0% YOY

AB Industrivarden said its normalized net income for the third quarter came to a loss of 9.55 Swedish kronor per share, compared with a loss of 2.27 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 a loss of 4.13 billion kronor, compared with a loss of 980.6 million kronor in the prior-year period.

Total revenue came to -6512.0 million kronor, compared with -1459.0 million kronor in the year-earlier period, and total operating expenses fell 11.8% year over year to 30.0 million kronor from 34.0 million kronor.

Reported net income came to a loss of 6.61 billion kronor, or a loss of 15.28 kronor per share, compared with a loss of 1.57 billion kronor, or a loss of 3.63 kronor per share, in the year-earlier period.

As of Oct. 5, US$1 was equivalent to 8.32 Swedish kronor.