- Operating income of NOK 235.9 million (212.6), reflecting solid 11 per cent
growth.
- Adjusted EBIT up 31 per cent to NOK 36.2 million (27.7), with margin improving
to 15.3 per cent (13.0).
- Reported EBIT up 14 per cent to NOK 27.8 (24.3).
- Continued strong performance from ONH, with 16 per cent revenue growth.
- Improved development for Sonans with close to 5 per cent revenue growth,
reversing the decline of the past two academic years. 
- Acquisition of Realfagshjelpen, a provider of tutoring and academic support in
science, technology, engineering and mathematics.

Lumi Gruppen continued to increase revenue and profitability in the first half
of 2025. The Oslo Nye Høyskole (ONH) segment continued its strong performance,
generating NOK 143 million in total income, representing a growth of 16 per
cent. The Sonans segment is growing again after the revenue decline of the two
past academic years, generating NOK 93 million in total income, representing a
growth of close to 5 per cent.

"ONH continued to show solid progress while Sonans has reached a stable footing,
together forming a strong foundation for profitable growth. The potential
institutional accreditation for ONH will provide greater flexibility in shaping
our programme portfolio, unlocking new growth opportunities. In parallel, we
continue to pursue our M&A agenda, providing further upside potential," said
Nina Vesterby, CEO of Lumi Gruppen.

GROUP FINANCIALS

Total income in the first half was NOK 236 million, compared to NOK 213 million
in the same period of 2024, an increase of 11 per cent. For the full academic
year 2024/2025, revenue rose by 12 per cent to NOK 475 million, up from NOK 423
million the previous academic year. This is slightly above the indication given
in the report for the second half of 2024.

Operating profit also demonstrated solid improvement. Reported operating profit
(EBIT) in the first half of 2025 amounted to NOK 27.8 million in the first half,
compared to NOK 24.3 million in the same period last year.

Adjusted EBIT for the first half reached NOK 36.2 million, compared to NOK 27.7
million in the same period of 2024, reflecting a 2.3 percentage point margin
uplift. For the academic year, adjusted EBIT increased from NOK 48.1 million to
NOK 68.8 million, corresponding to a 3.1 percentage point improvement in margin.

Net profit for the half year was NOK 6.6 million, compared to NOK 2.9 million in
the same period of 2024. Earnings per share were NOK 0.11, compared to NOK 0.05
the year before.

OUTLOOK

ONH
The intake for the 2025/26 academic year shows continued strong growth, albeit
at a somewhat slower pace than in the previous year. This is primarily due to
timing factors rather than underlying demand. Expansion of the programme
portfolio has been temporarily constrained by delays in the accreditation of new
programmes, which has had a direct impact on intake. The situation is expected
to improve for the spring intake