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Industrivarden Q1 profit climbs 230.7% YOY

AB Industrivarden said its first-quarter normalized net income came to 14.91 Swedish kronor per share, a gain of 272.2% from 4.01 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 6.48 billion kronor, an increase of 230.7% from 1.96 billion kronor in the prior-year period.

The normalized profit margin increased to 62.1% from 60.9% in the year-earlier period.

Total revenue grew 224.4% year over year to 10.43 billion kronor from 3.22 billion kronor, and total operating expenses decreased 16.1% year over year to 26.0 million kronor from 31.0 million kronor.

Reported net income rose 230.7% from the prior-year period to 10.36 billion kronor, or 23.86 kronor per share, from 3.13 billion kronor, or 6.41 kronor per share.

As of April 5, US$1 was equivalent to 8.97 Swedish kronor.