Recent Insider Transactions • May 25
Founder & Chairman recently bought €58k worth of stock On the 21st of May, Timo Rainer bought around 8k shares on-market at roughly €7.31 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Timo has been a net seller over the last 12 months, reducing personal holdings by €36k. 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 6.1% growth forecast for the Hospitality industry in the United Kingdom. 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 British dividend payers (5.8%). Higher than average of industry peers (2.7%). Reported Earnings • Mar 24
Full year 2025 earnings released: EPS: €0.43 (vs €0.37 in FY 2024) 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 is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Hospitality industry in the United Kingdom. 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. Announcement • 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 released: EPS: €1.55 (vs €0.54 in FY 2024) 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 is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Hospitality industry in the United Kingdom. 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). 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 released: EPS: €1.15 (vs €0.11 in 2Q 2024) 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 is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Hospitality industry in the United Kingdom. Announcement • 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 British dividend payers (5.4%). Higher than average of industry peers (2.0%). 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. Reported Earnings • May 07
First quarter 2025 earnings released: EPS: €0.04 (vs €0.03 loss in 1Q 2024) 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 is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Hospitality industry in the United Kingdom. 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. 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 British dividend payers (6.0%). Higher than average of industry peers (2.2%). Announcement • 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 19
Full year 2024 earnings released: EPS: €0.54 (vs €0.38 in FY 2023) 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 is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Hospitality industry in the United Kingdom. Announcement • 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 4.9%, 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. Reported Earnings • Feb 13
Full year 2024 earnings released: EPS: €0.54 (vs €0.38 in FY 2023) 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 is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Hospitality industry in the United Kingdom. Announcement • 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 Announcement • 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. Announcement • 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. Announcement • 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%. Announcement • 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. Declared Dividend • Apr 20
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 1.8%, 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 74% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Declared Dividend • Apr 04
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 1.8%, 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 74% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • 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. Announcement • 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. Announcement • 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. Announcement • 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. Announcement • Jul 06
Noho Partners Oyj Provides Earnings Guidance for the Financial Year 2023 NoHo Partners Oyj provided earnings guidance for the financial year 2023. For the year, the company expects otal turnover of approximately MEUR 380 and EBIT margin of approximately 9% in the restaurant business. Previously, the company estimated that it will achieve total turnover of over MEUR 350 and EBIT margin of approximately 9% in the restaurant business during the financial year 2023. Announcement • May 10
NoHo Partners Oyj Provides Group Earnings Guidance for the Years 2023 and 2024 NoHo Partners Oyj provided group earnings guidance for the years 2023 and 2024. The company estimates that, during the financial year 2023, it will achieve total turnover of over EUR 350 million and EBIT margin of approximately 9% in the restaurant business.The Group aims to achieve turnover of approximately EUR 400 million and an EBIT margin of approximately 10% during 2024. Board Change • Feb 24
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Mia Ahlstrom was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 22
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Mia Ahlstrom was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jul 28
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Mia Ahlstrom was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jun 28
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Mia Ahlstrom was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
