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Industrivarden Q2 loss widens 155.7% YOY

AB Industrivarden said its second-quarter normalized net income was a loss of 3.52 Swedish kronor per share, compared with a loss of 1.44 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 1.52 billion kronor, compared with a loss of 594.4 million kronor in the prior-year period.

Total revenue totaled -2256.0 million kronor, compared with -819.0 million kronor in the prior-year period, and total operating expenses climbed 189.5% year over year to 110.0 million kronor from 38.0 million kronor.

Reported net income totaled a loss of 2.43 billion kronor, or a loss of 5.63 kronor per share, compared with a loss of 951.0 million kronor, or a loss of 2.31 kronor per share, in the prior-year period.

As of July 6, US$1 was equivalent to 8.45 Swedish kronor.