Lumi Gruppen H2-24: Positive momentum

10 Feb 2025 07:30 CET

• Operating revenue of NOK 238.8 million (210.4), reflecting a solid 14 per cent
growth
• Strong EBIT uplift, ending at NOK 28.7 million (12.8)
• Adjusted EBIT of NOK 32.4 million (20.4)
• NOK 53.2 million (30.9) in cash flow from operations, driven by stronger
operating profit
• Continued strong development for ONH with 18 per cent revenue growth in the
second half
• Improved development for Sonans, reversing a prior revenue decline with close
to 6 per cent revenue growth
• Acquisition of the online vocational and university college start-up Ekko
expanding programme portfolio significantly


Lumi Gruppen significantly increased revenue and profitability in the second
half of 2024. The Sonans segment stabilised, while the Oslo Nye Høyskole (ONH)
segment continued its positive trend.

“After facing severe market headwinds in recent years, we turned the corner in
2024. ONH is positioned for continued growth. For Sonans, we see the opportunity
to improve margins even at current volumes, with a potential market improvement
offering additional upside,” said Nina Vesterby, CEO of Lumi Gruppen.

ONH
Oslo Nye Høyskole (ONH) maintained its positive trajectory in the second half of
2024, generating NOK 145 million in total income, representing a growth of 18
per cent. Operating profit (EBIT) was NOK 32.1 million, an increase from NOK
22.7 million last year.

SONANS
Sonans turned from declining to increasing revenue in the second half of 2024,
generating NOK 94 million in total income, representing a growth of 6 per cent.
Operating profit (EBIT) was NOK 4.5 million, compared to a loss of NOK 2.3
million last year.

GROUP FINANCIALS
Total revenue in the second half was NOK 238.8 million, compared to NOK 210.4
million in the same period of 2023.

EBIT was NOK 28.7 million, compared to NOK 12.8 million in the same period the
year before.

Net profit for the half year was NOK 11.2 million, compared to a loss of NOK
10.4 million in the same period of 2023. Earnings per share were NOK 0.19,
compared to negative NOK 0.19 the year before.

Cash flow from operations was NOK 53.2 million in the second half, compared to
NOK 30.1 million last year, primarily driven by positive profit development.

OUTLOOK

ONH
Based on the total income reported in the second half of 2024 and the 2025
spring intake, the full year income for the academic year 2024/2025 is expected
to end in the range of NOK 280-285 million, corresponding to a growth of 15 to
16 per cent.

SONANS
Based on the total income reported in the second half of 2024 and the 2025
spring intake, the full year income for the academic year 2024/2025 is expected
to end in the range of NOK 184-186 million, corresponding to a growth of around
4 per cent.

REPORT AND PRESENTATION
Lumi Gruppen will present the financial results and an investor update at 13:00
CET today. To join a webcast of the presentation, please use the following link:
https://bit.ly/4hjTxeq. The link will also be accessible on our website:
www.lumiinvestor.com

Please see the attached report for further information.

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:
Access the news on Oslo Bors NewsWeb site

638094_Lumi Gruppen H2 2024 Report.pdf
638094_Lumi Gruppen H2-2024 Presentation.pdf