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Kurs & Likviditet

Kursutveckling och likviditet under dagen för detta pressmeddelande

Kalender

2024-08-15 Kvartalsrapport 2024-Q2
2024-04-22 Ordinarie utdelning LUMI 0.00 NOK
2024-02-15 Bokslutskommuniké 2023
2023-11-09 Kvartalsrapport 2023-Q3
2023-11-01 Extra Bolagsstämma 2023
2023-08-16 Kvartalsrapport 2023-Q2
2023-05-10 Kvartalsrapport 2023-Q1
2023-04-24 Årsstämma 2023
2023-04-24 Ordinarie utdelning LUMI 0.00 NOK
2023-02-17 Bokslutskommuniké 2022
2022-11-02 Kvartalsrapport 2022-Q3
2022-08-17 Kvartalsrapport 2022-Q2
2022-05-10 Kvartalsrapport 2022-Q1
2022-04-28 Årsstämma 2022
2022-04-27 Ordinarie utdelning LUMI 1.00 NOK
2022-04-26 Årsstämma 2022
2022-02-17 Bokslutskommuniké 2021
2021-12-14 Extra Bolagsstämma 2021
2021-11-04 Kvartalsrapport 2021-Q3
2021-08-25 Kvartalsrapport 2021-Q2
2021-05-11 Kvartalsrapport 2021-Q1

Beskrivning

LandNorge
ListaEuronext Growth Oslo
SektorTjänster
IndustriAllmänna tjänster
Lumi Gruppen är verksamma inom utbildningsektorn. Inom koncernen erbjuds ett brett utbud av privatundervisning runtom den norska hemmamarknaden. Verksamheten drivs via flera skolor och undervisning erbjuds till elever inom varierande åldrar. Störst verksamhet återfinns inom Norden. Bolaget grundades år 1989 och har sitt huvudkontoret i Oslo, Norge.
2023-02-17 07:30:00
o	Revenue NOK 126 million (NOK 134 million)
o Adjusted EBIT margin 18.3% (18.0%)
o Oslo Nye Høyskole (ONH): Growing and gaining market share, cost programme
implemented
o Sonans: Implemented cost measures totalling NOK 17 million in the fourth
quarter
o NTech: First programme approved in December, preparing for launch in 2023
o Lumi Gruppen: 14 percent gross reduction in operating expenses from savings in
Q4
o Market likely to recover after pandemic downturn

"The education market is set to recover after the shocks created by the global
pandemic. Lumi Gruppen has responded to the market dynamics by implementing
significant cost measures while at the same time maintaining a high-quality
offering for our students. As the market leader in Norway, we are now positioned
for a likely short-term market recovery for Sonans. In the longer term, we see
growth opportunities in the planned NTech launch as well as ONH, which is
growing and gaining market share," says CEO Erik Brandt.

ONH
ONH reported record revenues in the fourth quarter, continuing the growth trend
from previous quarters. Cost measures were implemented during the quarter,
preparing for expanding margins ahead. ONH has a strong intake for Bachelor and
Master's programmes and outperforms the market development for higher education
in Norway.

Sonans
Lower revenues for Sonans have largely been offset by cost measures. During the
fourth quarter, Sonans completed its turnaround strategy which has now resulted
in a stronger digital offering and a reduced number of campuses from 15 to 12
with an upcoming further reduction to 9. The campus operations will be
concentrated in the larger cities of Norway with the new concept Live offering
students the campus quality in areas without a physical campus. The online
offering remains strong and meets the needs of students who prefer a more
flexible way of studying.

NTech
The planned vocational information technology school NTech had its first program
approved by the NOKUT (the Norwegian public agency for quality assurance in
education) in December. The programme will be launched in the first half of
2023, with admission for the school year 23/24.

Financials
Revenues in the fourth quarter were NOK 126, compared to NOK 134 million in the
same quarter of 2021. A lower number of students at Sonans negatively impacted
revenues, but this was partially offset by growth at ONH.

Adjusted EBIT was NOK 23.1 million, compared to NOK 24.0 million in the same
quarter the year before, reflecting cost cuts that largely have offset lower
revenues. Reported EBIT was NOK 12.0 million, compared to NOK 19.0 million. The
deviation between adjusted EBIT and reported EBIT is primarily explained by
non-recurring items related to the cost measures and restructuring.

Adjusted EBIT is negatively affected by provisions for bad debt of NOK 6 million
in the fourth quarter. Stricter credit measures have already been implemented
and already have had a positive impact on the spring intake sales.

Net profit was NOK 2.9 million, compared to NOK 9.3 million the year before.
Earnings per share were NOK 0.08, compared to NOK 0.26 the year before.

"While we are not satisfied with the current financial performance, we have made
significant cost cuts that set the stage for improved profitability once the
market recovers," says CEO Erik Brandt.

Outlook
For the spring, ONH's intake is 17 percent higher than last year, a trend that
is significantly stronger than in the fall of 2022. Sonans' intake is 31 percent
lower than last year, a trend that is marginally weaker than in the fall.

Over the past year, Lumi Gruppen has implemented significant cost measures and
implemented a more scalable business model for Sonans, setting the stage for a
likely post-pandemic market recovery. ONH will expand the study programme while
also focusing on attracting more students to established study programmes to
improve economies of scale. NTech is preparing for launch in 2023, with students
starting in the third quarter.

Lumi Gruppen is closely following the process following the recommendations
published by the Admission Committee in December. At this stage, these are
suggestions that are likely to be modified through the political process before
a potential implementation, which in any case will not occur for several years.
While the outcome of the process may affect the current offering of Sonans, Lumi
Gruppen believes this will also create new business opportunities. As long as
access to attractive university programs is limited, there will be a market for
services that help students qualify. Lumi Gruppen is actively planning to adapt
to any changes, based on various scenarios.

In conclusion, Lumi Gruppen expects the market to recover in the short term and
to offer profitable growth opportunities in the longer term.

Report and presentation

Please see attached the fourth quarter report presentation for further
information.

CEO Erik Brandt and CFO Martin Prytz will present the company's results today at
09:00. The digital presentation will be held in English and can be accessed
here:

https://teams.microsoft.com/l/meetup-join/19%3ameeting_MWQzODljM2QtZDlkNC00OGMxL
WJiZTMtZjRjMjQ2ZjY0YzM0%40thread.v2/0?context=%7B%22Tid%22%3A%22853e8b83-4054-4e
b9-8b26-ec6513dd213d%22%2C%22Oid%22%3A%22ba1f21a1-74d5-4d4a-8b8f-2f06d0c71a75%22
%2C%22IsBroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a%22%7D&btype=a&role=a



For more information, please contact:

Martin Prytz
CFO, Lumi Gruppen AS
Tel: +47 480 14 078
Email: IR@lumigruppen.no

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.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.