Brief: Lumi Gruppen Prelim Q2 Adjusted EBIT At NOK 39 Mln

Lumi Education AS

04/08/2022 09:23

Aug 4 (Reuters) - Lumi Gruppen  LUMI.OL :
    * REPORTED ON WEDNESDAY PRELIM Q2 OPERATING REVENUE: NOK 134
MLN
VS NOK 134 YR AGO 
    * PRELIM Q2 ADJUSTED EBIT: NOK 39 MLN VS NOK 48 MLN YR AGO
    * PRELIM Q2 REPORTED EBIT: NOK 31 MLN VS NOK 43 MLN YR AGO
    * AS OF WEEK 30 TOTAL SALES AT SONANS ARE ABOUT 30% BELOW
LAST
YEAR'S STUDENT INTAKE
    * DECLINE IN SALES IS MAINLY AFFECTING CAMPUS, WHILE ONLINE
COMBINED WITH THE NEW OFFERING LIVE SHOWS DOUBLE-DIGIT GROWTH
    * WILL NOW EXECUTE ON ADDITIONAL EFFICIENCY MEASURES AIMING
TO
SIGNIFICANTLY MITIGATE EFFECT OF DECLINE IN SALES
    * WILL PRESENT ITS Q2 RESULTS ON AUGUST 17, WHERE MORE
DETAILED
PLAN WILL BE PRESENTED TO ADDRESS CURRENT MARKET CONDITIONS

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nObiFD4pQa
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