Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €1.69, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 15x in the Consumer Services industry in Europe. Total returns to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €0.86 per share. New Risk • Jun 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Board Change • May 20
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. No independent directors (5 non-independent directors). Director Bente Sollid Storehaug is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Announcement • Feb 11
Lumi Gruppen AS (OB:LUMI) acquired Ekko Digitale AS and Ekko Digitale Fagskole AS. Lumi Gruppen AS (OB:LUMI) acquired Ekko Digitale AS and Ekko Digitale Fagskole AS in the second half of 2024. The acquisition is treated as an asset acquisition in the Group accounts.
Lumi Gruppen AS (OB:LUMI) completed the acquisition of Ekko Digitale AS and Ekko Digitale Fagskole AS in the second half of 2024. Announcement • Nov 07
Lumi Gruppen AS, Annual General Meeting, May 06, 2025 Lumi Gruppen AS, Annual General Meeting, May 06, 2025. Reported Earnings • Aug 18
First half 2024 earnings released: EPS: kr0.05 (vs kr4.95 loss in 1H 2023) First half 2024 results: EPS: kr0.05 (up from kr4.95 loss in 1H 2023). Revenue: kr212.6m (flat on 1H 2023). Net income: kr2.87m (up kr268.7m from 1H 2023). Profit margin: 1.4% (up from net loss in 1H 2023). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Consumer Services industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 39 percentage points per year, which is a significant difference in performance. Announcement • May 31
Lumi Gruppen AS Announces CEO Changes, Effective August 2024 Lumi Gruppen AS announced that Erik Brandt has chosen to step down from his position as CEO of the Company as of August 2024. Lumi is deeply grateful for Brandt's significant contributions over more than a decade as CEO. He will serve as a senior advisor to the Company from August until year end. The Company announced that Nina Vesterby is appointed as the Company's next CEO. Vesterby will step into the position in August 2024. Nina Vesterby comes from the position as CEO of Story House Egmont AS, and is a Norwegian national. During her five years in Egmont she also held board positions in other companies, such as in Markedspartner, Norsk Presseforbund, MBL, s360 and Garnius. Before Egmont, she was a CEO in the telecom industry. Nina holds a master's degree in business administration and management from the Norwegian School of Economics (NHH) and a bachelor's degree from BI Norwegian Business School. Announcement • Apr 24
Lumi Gruppen AS, Annual General Meeting, May 07, 2024 Lumi Gruppen AS, Annual General Meeting, May 07, 2024, at 10:00 Central European Standard Time. Reported Earnings • Apr 10
Full year 2023 earnings released: kr5.46 loss per share (vs kr1.03 profit in FY 2022) Full year 2023 results: kr5.46 loss per share (down from kr1.03 profit in FY 2022). Revenue: kr422.8m (down 18% from FY 2022). Net loss: kr276.2m (down kr313.4m from profit in FY 2022). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Consumer Services industry in Europe. Buy Or Sell Opportunity • Feb 20
Now 36% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to €1.28. The fair value is estimated to be €0.94, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.3% over the last 3 years. Meanwhile, the company became loss making. Board Change • Nov 17
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Director Frode Eilertsen was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Aug 17
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 15% per year over the past 5 years. Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€72.7m market cap, or US$79.0m). Reported Earnings • Aug 17
Second quarter 2023 earnings released: kr4.89 loss per share (vs kr0.50 profit in 2Q 2022) Second quarter 2023 results: kr4.89 loss per share (down from kr0.50 profit in 2Q 2022). Revenue: kr104.7m (down 22% from 2Q 2022). Net loss: kr263.8m (down kr283.4m from profit in 2Q 2022). Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €1.49, the stock trades at a trailing P/E ratio of 29.4x. Average trailing P/E is 21x in the Consumer Services industry in Europe. Total loss to shareholders of 25% over the past year. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €1.22, the stock trades at a trailing P/E ratio of 29.4x. Average trailing P/E is 27x in the Consumer Services industry in Europe. Total loss to shareholders of 57% over the past year. Board Change • May 31
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Director Frode Eilertsen was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 11
Lumi Gruppen AS has completed a Follow-on Equity Offering in the amount of NOK 24.999996 million. Lumi Gruppen AS has completed a Follow-on Equity Offering in the amount of NOK 24.999996 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 2,380,952
Price\Range: NOK 10.5
Transaction Features: Subsequent Direct Listing Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €1.12, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Consumer Services industry in Europe. Total loss to shareholders of 67% over the past year. Reported Earnings • Mar 31
Full year 2022 earnings released: EPS: kr1.03 (vs kr1.54 in FY 2021) Full year 2022 results: EPS: kr1.03 (down from kr1.54 in FY 2021). Revenue: kr513.4m (down 3.3% from FY 2021). Net income: kr37.2m (down 31% from FY 2021). Profit margin: 7.2% (down from 10% in FY 2021). Revenue is forecast to grow 1.3% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Consumer Services industry in Europe. Reported Earnings • Feb 18
Full year 2022 earnings released: EPS: kr1.03 (vs kr1.54 in FY 2021) Full year 2022 results: EPS: kr1.03 (down from kr1.54 in FY 2021). Revenue: kr514.6m (down 3.1% from FY 2021). Net income: kr37.2m (down 31% from FY 2021). Profit margin: 7.2% (down from 10% in FY 2021). Revenue is forecast to grow 1.2% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Consumer Services industry in Europe. Board Change • Feb 14
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Director Bente Sollid Storehaug was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improved over the past week After last week's 15% share price gain to €1.07, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Consumer Services industry in Europe. Total loss to shareholders of 75% over the past year. Board Change • Nov 21
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Director Bente Sollid Storehaug was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jul 13
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Director Bente Storehaug was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €2.04, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Consumer Services industry in Europe. Total loss to shareholders of 60% over the past year. Reported Earnings • May 12
First quarter 2022 earnings released First quarter 2022 results: Revenue: kr132.7m (flat on 1Q 2021). Net income: kr6.49m (up 98% from 1Q 2021). Profit margin: 4.9% (up from 2.5% in 1Q 2021). Over the next year, revenue is forecast to grow 14%, compared to a 45% growth forecast for the industry in Germany. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Director Bente Storehaug was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improved over the past week After last week's 16% share price gain to €3.70, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Consumer Services industry in Europe. Announcement • Apr 13
Lumi Gruppen AS, Annual General Meeting, Apr 26, 2022 Lumi Gruppen AS, Annual General Meeting, Apr 26, 2022, at 10:00 Central Europe Standard Time. Location: Company's offices at Sandakerveien 116, 0484 Oslo Norway Agenda: To consider election of a chairperson of the meeting;to consider election of a person to co-sign the minutes together with the chairman;to approval of the notice and agenda;to approval and adoption of the company's annual accounts and the director's report for 2021, including distribution of dividend;and to discuss other matters. Announcement • Apr 06
Lumi Gruppen AS Proposes Ordinary Dividend, Payable on or About May 5, 2022 Lumi Gruppen AS proposed cash ordinary dividend of NOK 1.0 per share with ex-date as 27 April 2022, record date as 28 April 2022 and payable date on or about 5 May 2022. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €3.23, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Consumer Services industry in Europe. Reported Earnings • Feb 18
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: kr1.64 (up from kr0.095 loss in FY 2020). Revenue: kr532.1m (down 5.3% from FY 2020). Net income: kr59.1m (up kr62.5m from FY 2020). Profit margin: 11% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 12%, compared to a 22% growth forecast for the industry in Germany. Announcement • Feb 18
Lumi Gruppen AS Proposes Dividend for the Year 2021 Lumi Gruppen AS announced that the board proposed a dividend of NOK 1 per share, equal to 60% of profit in 2021. Breakeven Date Change • Dec 31
Forecast breakeven date pushed back to 2022 The analyst covering Sonans Holding previously expected the company to break even in 2021. New forecast suggests the company will make a profit of kr122.2m in 2022. Average annual earnings growth of 73% is required to achieve expected profit on schedule. Breakeven Date Change • Sep 23
Forecast to breakeven in 2021 The analyst covering Sonans Holding expects the company to break even for the first time. New forecast suggests the company will make a profit of kr80.8m in 2021. Earnings growth of 67% is required to achieve expected profit on schedule. 
