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NoHo Partners: Back to action after COVID cooldown

NoHo Partners
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We expect NoHo to be back on a strong growth track from 2022 onward, and the company’s strategic decisions for the next few years are chiefly right. As the business gradually recovers, the company’s risk level decreases when cash flow improves and the debt burden in the balance sheet decreases. In our view, the stock’s return/risk ratio remains sufficiently attractive, because if our earnings estimates are realized, the valuation level is not high. If the strategy is successful, the long-term earnings potential is also significant.

NoHo Partners is a Finnish group specialized in services within the restaurant industry. The group operates a number of restaurants in Finland, Denmark, Norway and other parts of Europe. The company's restaurant concepts include, among others. Elit, Savoy, Teatteri, Sea Horse, Stefans Steakhouse, Palace, Löyly, Hangö Sushi, Friends & Brgrs Cock's & Cows and Holy Cow! . The company was founded in 1996.

Read more on company page

Key Estimate Figures17.08.2021

202021e22e
Revenue156.8175.2290.0
growth-%-42.5 %11.7 %65.6 %
EBIT (adj.)-24.0-9.719.0
EBIT-% (adj.)-15.3 %-5.6 %6.5 %
EPS (adj.)-1.43-0.620.58
Dividend0.000.000.30
Dividend %0.0 %0.0 %3.7 %
P/E (adj.)neg.neg.14.1
EV/EBITDA17.110.15.8

Forum discussions

Statistics Finland’s statistics on food service turnover have developed well in recent months:
6 hours ago
by Karhu Hylje
17
Noho Hospitality Partners Suurimmat osakkeenomistajat - Noho Hospitality Partners In December, Heikkilä’s Proprius Partners increased its holdings...
1/3/2026, 12:14 PM
by OttoJ
13
@Sauli_Vilen, there’s been so much discussion about payment defaults in the media and on the forum lately—is it possible to ask the CEO about...
1/1/2026, 6:49 PM
by Allfocuse
15
Those have nothing to do with NoHo; the buyer bought the businesses and continued them—how do they relate to NoHo?
1/1/2026, 6:33 PM
by Allfocuse
0
Yeah, I noticed the same: The things happening around NoHo do feel a bit strange, as reading here, it’s a respected and successful listed company...
1/1/2026, 3:59 PM
10
Protested drafts have once again been issued for NoHo Partners Oyj (€8,343) and Northmax Oy (€1,000).
1/1/2026, 3:38 PM
by Jukka
2
Product in good shape vol2. Helsingin Sanomat – 31 Dec 25 Ravintola-arvio | Uusi ravintola Rikhardinkadulla on espanjalainen makutaivas... Espanjalain...
1/1/2026, 9:21 AM
by OttoJ
5
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