Board of directors' report Lumi Gruppen is a leading player in the Norwegian education market. Originally named Sonans Holding, the company changed name and its visual identity to better reflect the multi-brand strategy of the Group at the end of last year. The Group consists of the parent company Lumi Gruppen AS (“The Company”) and its subsidiaries Lumi Bidco AS, Lumi Services AS, Sonans Privatgymnas AS (“Sonans”), Oslo Nye Høyskole AS, ONH Education AS, and Norwegian School of Technology AS. The operating segments in the Group are Sonans, Oslo Nye Høyskole AS, and ONH Education AS. The Company has its business address in Nydalen, Oslo. The largest operating segment in the Group is Sonans, which offers high quality teaching in high school subjects for private candidates. Sonans has a significant online offering in addition to campuses across Norway. Oslo Nye Høyskole is a university college which offers Bachelor programmes, annual programmes, Masters programme, and single subject courses in the fields of psychology, health, social sciences and business and administration. Most programmes are offered both on campus in Oslo and online. Oslo Nye Høyskole was rebranded at the end of last year to better reflect the strategic direction for the school and because the previous name Bjørknes Høyskole could be confused with the name of a competitor. ONH Education is a company facilitating the transfer of students to partner universities abroad. This is mainly related to studies in medicine and physiotherapy. Lumi Services AS organises shared services like IT, HR, Finance and Marketing on behalf of the operating segments. This allows a better utilisation of resources across segments and hence a cost-efficient way of providing such functions and services. During 2021, the Group conducted a corporate reorganisation. The purpose of the reorganisation was to simplify and streamline the corporate structure under Lumi Gruppen AS. Sonans Holdco AS and Sonans Midco AS were therefore merged with the Company and the shareholdings in Lumi Bidco AS (Oslo Nye Høyskole and ONH Education AS) were transferred one step down in the Group structure to Lumi Services AS. Following this, Lumi Services AS now holds 100% of all the shares in the operating segments, totalling three companies.
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LUMI GRUPPEN’S VISION
Lumi Gruppen strives to create the student experience of the highest quality, enabling students to leverage their full potential and strengths. LUMI GRUPPEN’S MISSION
We work relentlessly for a motivating and inspiring learning environment and are committed to using flexible and engaging delivery models to achieve the best possible results for our students.
LUMI GRUPPEN annual report 2021
