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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Lumi Education Group
Lumi Education Group (LUMI) investor relations material
Lumi Education Group DNB Carnegie Micro Cap Day Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.DNB Carnegie Micro Cap Day Conference summary31 Aug, 2026
Business performance and financials
Group revenue reached NOK 549 million with 16% growth and a 20% adjusted margin last year.
ONH delivered NOK 333 million in revenue at a 26% EBIT margin, while Sonans contributed NOK 198 million at an 18% margin.
Group-adjusted EBITDA rose 54% to NOK 56 million, with free cash flow conversion at 80% in H1.
Most growth is organic, with ONH growing 15% and Sonans 2%, driven by online programs and digital classrooms.
EnkelEksamen, acquired in December, is growing rapidly with a 31% margin.
Market trends and structural drivers
Demand for education in Norway exceeds supply, with 151,000 applicants for 66,000 public study places in 2023.
Online learning is the fastest-growing segment, with ONH having over 80% of students online versus 12% market average.
Political and financial support for private education remains stable, with no major regulatory changes.
Flexible education programs now account for 28% of all students, doubling online student numbers since 2019.
Growth in flexible and online education is driven by new program development.
Operational highlights and student outcomes
ONH is the highest-rated institution in Studiebarometeret for four consecutive years, scoring 4.2 in 2023.
Sonans students improve their grades by an average of one point, with 91% entering preferred higher education.
90% of next year's revenue is locked in by September due to upfront student commitments.
ONH has not experienced a single year of decline, now serving over 4,500 students.
Recurring revenue from bachelor and master programs accounts for 40% of ONH's revenue.
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Latest events from Lumi Education Group
- Record revenue and margin growth, but softer Sonans intake may impact future results.LUMI
H1 2026 - Record revenue, margin expansion, and digital acquisition drive strong H2 outlook.LUMIH2 2025
- Double-digit revenue and EBIT growth, margin gains, and strategic acquisition highlight H1 2025.LUMIH1 2025
- ONH drives growth with 22% higher revenue, while Sonans boosts profit via cost cuts.LUMIH1 2024
- Double-digit growth, high revenue visibility, and digital innovation drive expansion.LUMIABGSC Investor Days
- ONH targets 15% annual growth, ONF 25–30%, and Sonans 5%, leveraging digital-first strategies.LUMICMD 2025
- H2 2024 saw 14% revenue growth, EBIT up 124%, and strong guidance for FY2025.LUMIH2 2024
Next Lumi Education Group earnings date
H2 202616 Feb, 2027
Lumi Education Group
Next Lumi Education Group earnings date
H2 202616 Feb, 2027
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Frequently asked questions
Lumi Gruppen AS is a Norway-based educational services provider, operating primarily through two main segments: Sonans and Oslo Nye Høyskole (ONH). Sonans focuses on offering private candidate exam preparation courses for high school students, aimed at improving their grades and completing diplomas. ONH, a private university college, provides bachelor’s, master’s, and single-subject programs in fields like psychology, health, and social sciences, available both online and on-campus. Additionally, Lumi Gruppen has expanded into practical IT vocational training with its Norwegian School of Technology (NTech), launched to meet the demand for IT skills. The company is headquartered in Oslo, Norway, and its shares are listed on the Oslo Stock Exchange.