Positive profit warning: NoHo Partners Plc to increase its profit guidance for 2022

NoHo Partners Plc

INSIDE INFORMATION 8 DECEMBER 2022 at 08:00 EET

Positive profit warning: NoHo Partners Plc to increase its profit guidance for 2022

NoHo Partners Plc increases its guidance concerning the EBIT margin for the year 2022. The guidance concerning turnover remains unchanged.

“We estimate the full-year EBIT margin to be over 9,5%. Behind the outstanding profitability are developments implemented by the company during the Covid-19 pandemic, committed employees and good customer demand combined with a strong restaurant portfolio. The company’s financial performance is on a historically strong level and our financial results as well as balance sheet have recovered after the pandemic beyond all expectations”, says NoHo Partners’ CEO Aku Vikström.

New profit guidance (as of 8 December 2022):

NoHo Partners estimates that, during the financial year 2022, it will achieve total turnover of over MEUR 300 and an EBIT margin of over 9,5% in the restaurant business.

The Group’s long-term guidance remains unchanged: The Group aims to achieve turnover of approximately MEUR 400 and an EBIT margin of approximately 10% during 2024. The company aims for the ratio of net debt to operational EBITDA, adjusted for IFRS 16 lease liability, to be under 3 and for dividends to be paid during the strategy period 2022–2024.

Previous profit guidance (as of 3 October 2022):

NoHo Partners estimates that, during the financial year 2022, it will achieve total turnover of over MEUR 300 and an EBIT margin of over 8,5% in the restaurant business.

The Group’s long-term guidance remains unchanged: The Group aims to achieve turnover of approximately MEUR 400 and an EBIT margin of approximately 10% during 2024. The company aims for the ratio of net debt to operational EBITDA, adjusted for IFRS 16 lease liability, to be under 3 and for dividends to be paid during the strategy period 2022–2024.

Additional information:

Aku Vikström, CEO, NoHo Partners Plc, tel. 7

Jarno Suominen, Deputy CEO, NoHo Partners Plc, tel. 5

Distribution:

Nasdaq Helsinki

Major media

NoHo Partners Plc is a Finnish group established in 1996, specialising in restaurant services. The company, which was listed on Nasdaq Helsinki in 2013 and became the first Finnish listed restaurant company, has continued to grow strongly throughout its history. The Group companies include some 250 restaurants in Finland, Denmark and Norway. The well-known restaurant concepts of the company include Elite, Savoy, Teatteri, Sea Horse, Stefan’s Steakhouse, Palace, Löyly, Hanko Sushi, Friends & Brgrs, Campingen and Cock’s & Cows. Depending on the season, the Group employs approximately 2,100 people converted into full-time employees. The Group aims to achieve turnover of MEUR 400 by the end of 2024. The company’s vision is to be the leading restaurant company in Northern Europe.