Lumi Gruppen

* Solid autumn intake* Sonans back on track* Fair value range of NOK 14-25 Solid autumn intake Today, Lumi published a trading update for its '25 autumn intake. Intake seems solid, with ONH revenues guided up 14% y-o-y for the AY 25/26e and Sonans revenues...

- H1 delivered in line - All eyes on the autumn intake - Fair value range of NOK 14-25 H1 delivered in line Group revenue was NOK 236m, 3% above our estimate of NOK 229m. The reported revenue was also above the NOK 225m-232m guidance. Adj. EBIT was NOK...

H1e likely in line with guidance ONH is the growth engine, Sonans growth turns positive Fair value range of NOK 14-25 H1e likely in line with guidance We pencil in H1'25e revenues of NOK 229m, which is the mid-point of the guidance from the H2'24 report...