Declared Dividend • May 17
First quarter dividend of €0.08 announced Shareholders will receive a dividend of €0.08. Ex-date: 11th August 2026 Payment date: 19th August 2026 Dividend yield will be 4.3%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (9% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 75% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 06
First quarter 2026 earnings released: EPS: €0.01 (vs €0.009 loss in 1Q 2025) First quarter 2026 results: EPS: €0.01 (up from €0.009 loss in 1Q 2025). Revenue: €83.6m (up 8.3% from 1Q 2025). Net income: €300.0k (up €500.0k from 1Q 2025). Profit margin: 0.4% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Hospitality industry in Europe. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 30
Upcoming dividend of €0.07 per share Eligible shareholders must have bought the stock before 07 May 2026. Payment date: 15 May 2026. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Finnish dividend payers (5.4%). In line with average of industry peers (3.2%). Reported Earnings • Mar 24
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: €0.43 (up from €0.37 in FY 2024). Revenue: €358.0m (up 3.1% from FY 2024). Net income: €9.10m (up 17% from FY 2024). Profit margin: 2.5% (up from 2.2% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 2.6%. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Hospitality industry in Europe. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Annonce • Mar 20
Noho Partners Oyj Announces Non- Availability for Re-Election of Petri Olkinuora as Member of the Board of Directors NoHo Partners Plc’s at the Annual General Meeting convening on 15 April 2026 announced that the current member of the Board of Directors Petri Olkinuora has served on the company's Board of Directors for 13 years and is not available for re-election. Reported Earnings • Feb 12
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: €1.55. Revenue: €365.1m (down 14% from FY 2024). Net income: €9.10m (down 20% from FY 2024). Profit margin: 2.5% (in line with FY 2024). Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 2.6%. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Hospitality industry in Europe. New Risk • Nov 10
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.1x net interest cover). Earnings are forecast to decline by an average of 2.7% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Significant insider selling over the past 3 months (€95k sold). Price Target Changed • Nov 10
Price target decreased by 13% to €9.30 Down from €10.70, the current price target is an average from 2 analysts. New target price is 20% above last closing price of €7.76. Stock is up 9.3% over the past year. The company is forecast to post earnings per share of €1.52 for next year compared to €0.54 last year. Annonce • Nov 04
NoHo Partners Oyj, Annual General Meeting, Apr 15, 2026 NoHo Partners Oyj, Annual General Meeting, Apr 15, 2026. Location: tampere Finland Upcoming Dividend • Oct 29
Upcoming dividend of €0.16 per share Eligible shareholders must have bought the stock before 05 November 2025. Payment date: 13 November 2025. Payout ratio is a comfortable 74% and this is well supported by cash flows. Trailing yield: 5.1%. Lower than top quartile of Finnish dividend payers (5.9%). Higher than average of industry peers (3.0%). Recent Insider Transactions • Sep 23
Founder & Chairman recently sold €95k worth of stock On the 17th of September, Timo Rainer sold around 10k shares on-market at roughly €9.50 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Timo's only on-market trade for the last 12 months. Declared Dividend • Aug 15
Second quarter dividend of €0.16 announced Shareholders will receive a dividend of €0.16. Ex-date: 5th November 2025 Payment date: 13th November 2025 Dividend yield will be 5.2%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (74% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 7.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 1.1% over the next 3 years. However, it would need to fall by 18% to increase the payout ratio to a potentially unsustainable range. New Risk • Aug 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.03% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.1x net interest cover). Earnings are forecast to decline by an average of 0.03% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Aug 05
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: €1.15. Revenue: €89.5m (down 16% from 2Q 2024). Net income: €1.80m (down 18% from 2Q 2024). Profit margin: 2.0% (down from 2.1% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 8.1%. Earnings per share (EPS) also missed analyst estimates by 4.2%. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Hospitality industry in Europe. Annonce • Aug 05
NoHo Partners Oyj (HLSE:NOHO) agreed to acquire Smoothie Heaven Oy. NoHo Partners Oyj (HLSE:NOHO) agreed to acquire Smoothie Heaven Oy on August 4, 2025.
The transaction is subject to approval of The Finnish Competition and Consumer Authority. According to the Competition Act, mergers that exceed certain turnover thresholds must be notified to the KKV, and the merger must not be implemented before it has been approved by the KKV. Upcoming Dividend • Jul 30
Upcoming dividend of €0.15 per share Eligible shareholders must have bought the stock before 06 August 2025. Payment date: 14 August 2025. Payout ratio is on the higher end at 76%, however this is supported by cash flows. Trailing yield: 5.1%. Lower than top quartile of Finnish dividend payers (5.9%). Higher than average of industry peers (2.8%). Declared Dividend • May 16
First quarter dividend of €0.15 announced Shareholders will receive a dividend of €0.15. Ex-date: 6th August 2025 Payment date: 14th August 2025 Dividend yield will be 4.8%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (76% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 7.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 3.8% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • May 12
Price target increased by 11% to €11.87 Up from €10.70, the current price target is an average from 3 analysts. New target price is 23% above last closing price of €9.68. Stock is up 20% over the past year. The company is forecast to post earnings per share of €1.78 for next year compared to €0.54 last year. Reported Earnings • May 07
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: €0.04 (up from €0.03 loss in 1Q 2024). Revenue: €101.3m (up 8.3% from 1Q 2024). Net income: €800.0k (up €1.40m from 1Q 2024). Profit margin: 0.8% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 93%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Hospitality industry in Europe. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • May 06
Consensus EPS estimates increase by 34%, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from €438.7m to €418.2m. EPS estimate rose from €1.03 to €1.37. Net income forecast to grow 120% next year vs 18% growth forecast for Hospitality industry in Finland. Consensus price target of €10.70 unchanged from last update. Share price was steady at €9.45 over the past week. Upcoming Dividend • Apr 30
Upcoming dividend of €0.15 per share Eligible shareholders must have bought the stock before 07 May 2025. Payment date: 15 May 2025. Payout ratio is on the higher end at 86%, however this is supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of Finnish dividend payers (6.1%). Higher than average of industry peers (3.1%). Major Estimate Revision • Apr 07
Consensus EPS estimates increase by 37%, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from €460.1m to €438.7m. EPS estimate rose from €0.75 to €1.03. Net income forecast to grow 91% next year vs 15% growth forecast for Hospitality industry in Finland. Consensus price target of €10.70 unchanged from last update. Share price fell 3.5% to €8.65 over the past week. Annonce • Apr 03
Intera Partners Oy have agreed on an arrangement to acquire an additional unknown minority stake in Better Burger Society from NoHo Partners Oyj (HLSE:NOHO). Intera Partners Oy have agreed on an arrangement to acquire an additional unknown minority stake in Better Burger Society from NoHo Partners Oyj (HLSE:NOHO) on April 1, 2025. Jarno Suominen will continue to be active owners and serve on the Board of Directors of Better Burger Society. Operational cooperation will also continue unchanged. As of 1 April 2025, Better Burger Society will no longer be NoHo Partners group’s subgroup, but will instead be consolidated into NoHo Partners group as an associated company. NoHo Partners’ voting rights in Better Burger Society will drop to 49.6%, with NoHo Partners continuing to be the largest owner of the company with a holding of 50.7%. The transaction is subject to approval by the Finnish Competition and Consumer Authority. For the period ending December 31, 2024, Better Burger Society reported total revenue of €80 million. Reported Earnings • Mar 20
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: €0.54 (up from €0.38 in FY 2023). Revenue: €427.1m (up 15% from FY 2023). Net income: €11.3m (up 43% from FY 2023). Profit margin: 2.6% (up from 2.1% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Hospitality industry in Europe. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 06
Price target increased by 8.4% to €11.45 Up from €10.57, the current price target is an average from 3 analysts. New target price is 23% above last closing price of €9.34. Stock is up 16% over the past year. The company is forecast to post earnings per share of €0.75 for next year compared to €0.54 last year. Annonce • Mar 05
Noho Partners OYJ Ordinary Shares to Be Deleted from OTC Equity Noho Partners OYJ Ordinary Shares (Finland) will be deleted from OTC Equity effective March 04, 2025, due to Inactive Security. Declared Dividend • Feb 28
Dividend of €0.15 announced Shareholders will receive a dividend of €0.15. Ex-date: 7th May 2025 Payment date: 15th May 2025 Dividend yield will be 4.7%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (85% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 55% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Feb 13
Price target increased by 10% to €10.58 Up from €9.60, the current price target is an average from 2 analysts. New target price is 15% above last closing price of €9.18. Stock is up 12% over the past year. The company is forecast to post earnings per share of €0.73 for next year compared to €0.54 last year. Reported Earnings • Feb 13
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: €0.54 (up from €0.38 in FY 2023). Revenue: €434.4m (up 17% from FY 2023). Net income: €11.3m (up 43% from FY 2023). Profit margin: 2.6% (up from 2.1% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Hospitality industry in Europe. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Annonce • Feb 12
NoHo Partners Oyj to Report Fiscal Year 2024 Final Results on Mar 19, 2025 NoHo Partners Oyj announced that they will report fiscal year 2024 final results on Mar 19, 2025 Price Target Changed • Jan 28
Price target increased by 10% to €10.57 Up from €9.60, the current price target is an average from 3 analysts. New target price is 32% above last closing price of €8.00. Stock is down 5.0% over the past year. The company is forecast to post earnings per share of €0.48 for next year compared to €0.38 last year. Reported Earnings • Nov 06
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: €0.14 (up from €0.03 loss in 3Q 2023). Revenue: €108.1m (up 13% from 3Q 2023). Net income: €2.90m (up €3.50m from 3Q 2023). Profit margin: 2.7% (up from net loss in 3Q 2023). Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Hospitality industry in Europe. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Oct 30
Upcoming dividend of €0.15 per share Eligible shareholders must have bought the stock before 06 November 2024. Payment date: 14 November 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.9%. Lower than top quartile of Finnish dividend payers (6.2%). Higher than average of industry peers (2.7%). Annonce • Aug 27
NoHo Partners Plc Appoints Maria Koivula as Deputy CEO NoHo Partners Plc has strengthened the structure of its Executive Team to accelerate the implementation of its new strategy. The broader composition of the Executive Team supports the company's ambitious growth targets as well as operational development. At the same time, Business Director Maria Koivula has been appointed as the Deputy CEO. When the new structure enters into force, the operation of the separate Executive Team of Finland will cease. Price Target Changed • Aug 15
Price target decreased by 7.7% to €9.60 Down from €10.40, the current price target is an average from 2 analysts. New target price is 22% above last closing price of €7.88. Stock is down 8.6% over the past year. The company is forecast to post earnings per share of €0.56 for next year compared to €0.38 last year. Reported Earnings • Aug 07
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: €0.11 (down from €0.17 in 2Q 2023). Revenue: €109.0m (up 17% from 2Q 2023). Net income: €2.20m (down 35% from 2Q 2023). Profit margin: 2.0% (down from 3.6% in 2Q 2023). Revenue missed analyst estimates by 7.0%. Earnings per share (EPS) also missed analyst estimates by 69%. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Hospitality industry in Europe. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Annonce • Aug 06
NoHo Partners Oyj Announces CEO Changes NoHo Partners’ Board of Directors has appointed Jarno Suominen as CEO as of 1 September 2024. Current CEO Aku Vikström will continue in his position until Suominen assumes the duties of the CEO. Jarno Suominen (born 1972) has extensive experience from the restaurant industry, and he has worked at NoHo Partners since 2005, serving as CFO in 2005–2020. Suominen has acted as the Deputy CEO of NoHo Partners since 2020 and he is also the Country Manager of company’s operations in Finland as well as the Chairman of the Finnish Executive Team. He is also a significant shareholder of the company also a significant shareholder of the company. Jarno Suominen has very strong and versatile experience in the restaurant industry, and he has played a key role in NoHo Partners’ growth story to its current size. He also has strong expertise in business arrangements and investment activities in the restaurant industry, which, in accordance with companies new strategy, the company focus on to accelerate especially the growth of the international business. The Board of Directors is confident that Jarno is the right person to lead the company towards its next growth targets while also enhancing continuity in the company’s management. As announced on 20 March 2024, NoHo Partners’ current CEO Aku Vikström will step down from his role to join Orkla Foods Europe as their new CEO. Vikström has acted as the CEO of NoHo Partners since 2018. Upcoming Dividend • Jul 31
Upcoming dividend of €0.14 per share Eligible shareholders must have bought the stock before 07 August 2024. Payment date: 15 August 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.3%. Lower than top quartile of Finnish dividend payers (6.1%). Higher than average of industry peers (3.0%). Price Target Changed • Jul 23
Price target increased by 8.2% to €10.98 Up from €10.15, the current price target is an average from 2 analysts. New target price is 38% above last closing price of €7.94. Stock is down 13% over the past year. The company is forecast to post earnings per share of €0.64 for next year compared to €0.38 last year. New Risk • May 17
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.2x 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 Risk Interest payments are not well covered by earnings (2.2x net interest cover). Minor Risks Dividend is not well covered by earnings (164% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.4% net profit margin). Annonce • May 08
Noho Partners plc Provides Earnings Guidance for the Financial Year 2024 Noho Partners plc provided earnings guidance for the financial year 2024. For the year, the company estimated that, during the financial year 2024, it will achieve total turnover of approx. EUR 430 million and EBIT margin of approx. 9.5%. Reported Earnings • May 07
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: €0.03 loss per share (down from €0.09 profit in 1Q 2023). Revenue: €95.4m (up 26% from 1Q 2023). Net loss: €600.0k (down 132% from profit in 1Q 2023). Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Hospitality industry in Europe. Over the last 3 years on average, earnings per share has increased by 116% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Annonce • Apr 24
NoHo Partners Oyj Announces Composition of Audit Committee and Remuneration Committee NoHo Partners Oyj's Board of Directors has decided the composition of the Audit Committee and the Remuneration Committee. Kai Seikku was elected as Chairman and Petri Olkinuora and Timo Mänty as members of the Audit Committee. Timo Mänty was elected as Chairman and Maarit Vannas and Timo Laine as members of the Remuneration Committee. Annonce • Mar 21
NoHo Partners Plc Announces Stepping Down of Aku Vikström as CEO NoHo Partners Plc's CEO Aku Vikström has informed the company's Board of Directors that he will step down from the role of CEO. Vikström will join Orkla Foods Europe Oy as their new CEO, starting at the latest on 1 September 2024. Until then, he continues in his role as the CEO of NoHo Partners. The Board of Directors has initiated a search for his successor. Declared Dividend • Mar 18
Dividend of €0.14 announced Shareholders will receive a dividend of €0.14. Ex-date: 7th May 2024 Payment date: 16th May 2024 Dividend yield will be 1.7%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (114% earnings payout ratio). However, it is well covered by cash flows (17% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 26% to bring the payout ratio under control. EPS is expected to grow by 78% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. New Risk • Mar 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 40% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.2x net interest cover). Minor Risks Dividend is not well covered by earnings (114% payout ratio). Large one-off items impacting financial results. Significant insider selling over the past 3 months (€107k sold). Reported Earnings • Feb 16
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: €0.38 (up from €0.074 in FY 2022). Revenue: €380.0m (up 22% from FY 2022). Net income: €7.90m (up 427% from FY 2022). Profit margin: 2.1% (up from 0.5% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 23%. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Hospitality industry in Europe. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. New Risk • Jan 24
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €127k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.5x net interest cover). Minor Risks Dividend is not well covered by earnings (179% payout ratio). Large one-off items impacting financial results. Significant insider selling over the past 3 months (€127k sold). Annonce • Dec 21
NoHo Partners Revises Its Profit Guidance for 2023 NoHo Partners updates its profit guidance for 2023. The company now expects the EBIT margin to be over 9.5% in 2023 with the comparable EBIT margin being over 10%. The company also refines its guidance for 2023 total turnover, and now expects it to be approximately EUR 370 million. NoHo Partners' profitability development has been strong despite the fluctuating demand environment. The business of Holy Cow!, which was acquired in July 2023, has developed better than expected and the integration is progressing excellently. At the same time, the pre- Christmas season has met the company's expectations. NoHo Partners estimates that, during the financial year 2023, it will achieve total turnover of approximately EUR 370 million and EBIT margin of over 9.5% in the restaurant business. The comparable EBIT will reach the 10% EBIT margin defined in the company's long-term financial targets. The company will reach the targets set for the strategy cycle ending in 2024 ahead of time. The company will update its long-term strategic and financial targets for the next strategy cycle 2024-2026 and publish them during the first half of 2024. NoHo Partners estimates that, during the financial year 2023, it will achieve total turnover of approximately EUR 380 million and EBIT margin of approximately 9% in the restaurant business. The company will reach the targets set for the strategy cycle ending in 2024 ahead of time. The company will update its long-term strategic and financial targets for the next strategy cycle 2024-2026 and publish them during the first half of 2024.of 2024.NoHo Partners updates its profit guidance for 2023. The company now expects the EBITmargin to be over 9.5% in 2023 with the comparable EBIT margin being over 10%. Thecompany also refines its guidance for 2023 total turnover, and now expects it to beapproximately MEUR 370.NoHo Partners updates its profit guidance for 2023. The company now expects the EBITmargin to be over 9.5% in 2023 with the comparable EBIT margin being over 10%. Thecompany also refines its guidance for 2023 total turnover, and now expects it to beapproximately MEUR 370.NoHo Partners estimates that, during the financial year 2023, it will achieve total turnover ofapproximately MEUR 370 and EBIT margin of over 9.5% in the restaurant business. Thecomparable EBIT will reach the 10% EBIT margin defined in the company's long-term financialtargets. Price Target Changed • Nov 21
Price target decreased by 13% to €10.15 Down from €11.68, the current price target is an average from 2 analysts. New target price is 30% above last closing price of €7.80. Stock is up 9.7% over the past year. The company is forecast to post earnings per share of €0.35 for next year compared to €0.074 last year. Reported Earnings • Nov 08
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: €0.03 loss per share (improved from €0.19 loss in 3Q 2022). Revenue: €97.8m (up 14% from 3Q 2022). Net loss: €600.0k (loss narrowed 84% from 3Q 2022). Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Hospitality industry in Europe. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Annonce • Nov 08
Noho Partners plc Strengthens Its Leadership NoHo Partners Plc is strengthening its leadership with two strategic new roles. NoHo Partners has been appointed Rainer Lindqvist as the Chief Customer Officer of the group. Rainer is an experienced marketing professional with over 20 years of expertise in customer understanding and consumer marketing in a rapidly evolving environment. Rainer is transitioning to this role from his position as the Marketing Director of Kotipizza. He has previously worked as the Business Director at Ehrenstråhlen&Co and as the CEO of the advertising agency DDB Helsinki Oy. Rainer will start in his new role in January 2024. NoHo Partners has been appointed Jaakko Sorsa as the Quality Director for its dining restaurants. Jaakko brings with him an impressive 30 years of experience from the top of the culinary industry and world-class kitchens. Jaakko began his culinary career nearly three decades ago as a kitchen intern at Palace Gourmet Restaurant. Since then, he has worked in various top kitchens around the world, from the Middle East to Bermuda, from the Fiji Islands to Japan and Indonesia. For the last 19 years, Jaakko has been leading some of the best restaurants in Hong Kong. Jaakko will start in his new role in January 2024. Annonce • Oct 06
Noho Partners plc Announces Second Dividend Instalment for the Financial Year 2022, Payable on 20 October 2023 The board of directors of NoHo Partners Plc has decided on the payment of the second dividend instalment of EUR 0.20 per share for the financial year 2022, based on the authorization of the Annual General Meeting held on 19 April 2023. The dividend will be paid to shareholders who are registered in the shareholders' register maintained by Euroclear Finland Ltd. on the record date 13 October 2023. The dividend payment date will be 20 October 2023. The first dividend instalment of EUR 0.20 per share was paid on 24 May 2023. New Risk • Aug 14
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €69k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risks Dividend is not well covered by earnings (dividend per share is over 5x earnings per share). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.4% net profit margin). Significant insider selling over the past 3 months (€69k sold). New Risk • Aug 09
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.7x 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 Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risks Dividend is not well covered by earnings (dividend per share is over 5x earnings per share). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.4% net profit margin). Reported Earnings • Aug 09
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: EPS: €0.17 (down from €0.45 in 2Q 2022). Revenue: €93.3m (up 3.4% from 2Q 2022). Net income: €3.40m (down 62% from 2Q 2022). Profit margin: 3.6% (down from 9.9% in 2Q 2022). Revenue missed analyst estimates by 5.3%. Earnings per share (EPS) exceeded analyst estimates by 3.0%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Hospitality industry in Europe. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jul 20
Now 21% undervalued Over the last 90 days, the stock is up 12%. The fair value is estimated to be €11.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 6.9% per annum. Earnings is also forecast to grow by 23% per annum over the same time period.