Oslo 4 October 2023 : The intake for the school year 2023/2024 is now completed, andLumi Gruppen provides a trading update. ONH For ONH, the positive trend is confirmed, with a 22 percent growth in signed contracts* compared with the autumn intake in 2022. Based on the autumn intake and a forecast for the spring intake, revenue is expected to end in the range ofNOK 227-232 million for ONH for the school year 2023/2024. Sonans The private candidate business in Sonans is the most important swing factor forLumi Gruppen's financial development in the short to medium term. Sales for Sonans have declined in line with the private candidate market, with a reduction of 29 percent in signed contracts compared with the autumn intake 2022. Part of the decline is due to stricter credit verification procedures. While this affects sales, it also has led to significantly reduced credit losses. Based on the autumn intake and a forecast for the spring intake, revenue is expected to end in the range ofNOK 170-175 million for Sonans for the school year 2023/2024. NtechLumi Gruppen has decided to postpone the launch of Ntech vocational school until the school year 2024/2025 with a broader programme offering. As previously indicated, the financial impact in terms of revenue of NTech was expected to be limited in the 2023/2024 school year. *Refers to signed contracts for new students and new revenue in addition to the revenues from existing students on multi-year programmes For further queries, please contact:Martin Prytz , CFO and Head of Investor Relations E-mail: IR@lumigruppen.no Mobile: +47 480 14 078 About Lumi | https://lumiinvestor.com/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 inNorway 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.
Click here for more information
© Oslo Bors ASA, source