Lumi Gruppen AS | Profit Upgrade

27 Jan 2025 07:30 CET

Oslo, 27 January 2025: In preparation of the investor update and presentation of
second-half 2024 results on Monday, 10 February 2025, Lumi Gruppen AS (the
"Company") hereby gives the following trading update:

The Company expects to report an operating profit (EBIT) of approximately NOK 53
million for the full year ending 2024 (2023: NOK 35.1 million*). Adjusted
operating profit (Adj. EBIT) is expected to be approximately NOK 60 million for
the full year ending 2024 (2023: NOK 49.5 million).

The anticipated improvement stems from both revenue growth across both segments,
as outlined in the trading update of 14 October 2024, and key operational
drivers. These include a stable contribution margin from education services
(personnel expenses), a reduction in credit losses, and the implementation of
cost-efficiency measures, notably a significant reduction in campus operating
expenses.

The company will publish its results for the second half 2024 on 10 February
2025.


*Excluding the impairment of goodwill of NOK 270.3 million that was included in
the reported operating profit (EBIT) for 2023.


Contact information
Martin Prytz, CFO and Head of Investor Relations
E-mail: IR@lumigruppen.no
Mobile: +47 480 14 078

About Lumi: Lumi Gruppen is a leading Norwegian education provider founded in
1989. Today, Lumi Gruppen consists of two main divisions: Sonans and Oslo Nye
Høyskole. Sonans is the market leader in Norway within private candidate exam
preparation courses, and Oslo Nye Høyskole offers high quality bachelor’s
degrees within health, social sciences, psychology and business and
administration, both on campus and online.

More information:
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