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Industrivarden swings to profit in Q2

AB Industrivarden said its normalized net income for the second quarter came to 4.63 Swedish kronor per share, compared with a loss of 30 ore per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.01 billion kronor, compared with a loss of 130.6 million kronor in the year-earlier period.

The normalized profit margin was 61.5%.

Total revenue came to 3.28 billion kronor, and total operating expenses held steady year over year at 29.0 million kronor.

Reported net income came to 3.22 billion kronor, or 7.40 kronor per share, compared with a loss of 209.0 million kronor, or a loss of 48 ore per share, in the year-earlier period.

As of July 5, US$1 was equivalent to 8.49 Swedish kronor.