- 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; however, as the spring intake has historically represented a smaller share of total intake, the overall effect is likely to be more limited. As of week 32, 2025, the autumn intake shows growth of over 10 per cent in new contracts, with recurring revenues increasing at a similar rate.
SONANS
As of week 32, 2025, the autumn intake is developing in line with last year, with growth close to
5 per cent.
Lumi Gruppen intends to publish a trading update at the beginning of October, summarising the results of the intake for the 2025/2026 academic year.
REPORT AND PRESENTATION
Lumi Gruppen will present the financial results and an investor update at 10:00 CEST today. To join, please use the following link: http://bit.ly/3HiW24c. The link will also be available on our website: www.lumiinvestor.com.
Please see the attached report and presentation material for further information.
Contact information
Martin Prytz, CFO
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: Oslo Nye Høyskole (ONH) and Sonans. ONH is a private university college established in 2007, with 80% of the students studying online, supplemented by a brand new, modern and well-equipped campus opened in 2025 located in central Oslo. ONH has grown revenues by more than 15% per annum over the past 10 years, reflecting its focus on fast growing areas of study demand delivered across a modern, accessible and flexible mix of channels. Sonans is Norway’s market leader in high school private candidate exam preparation courses, primarily to help former high school students achieve better exam results and/or complete their high school diploma to enter higher education.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.