contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


noho-partners-back-action-after-covid-cooldown

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Sauli Vilén

Matias Arola

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 &amp; Brgrs Cock's &amp; Cows and Holy Cow! . The company was founded in 1996.

NoHo secured as many as six restaurants on Finland’s TOP 50 list, with Palace once again taking the top spot:                    Avec – 11 Mar 26              Tässä ovat Suomen 50 parasta ravintolaa 2026    Palacen voittokulku jatkuu vuodesta toiseen.

A slightly more subdued February for restaurants following a few livelier months in Nordea’s card data:  Unfortunately, March may continue to be subdued as consumers worry about the situation in Iran and oil prices.

Noho Hospitality Partners              NoHo Partners ja Holiday Club yhteistyöhön – Fat Lizard tuo rehelliset maut...    Vierumäellä pistetään ensi kesänä uuni kuumaksi. NoHo Partners on valittu Holiday Clubin yhteistyökumppaniksi, ja ensimmäisenä avauksena Holiday Club Vierumäelle avataan Fat Lizard -ravintola kesällä 2026. Uusi tulokas tuo Vierumäen aktiivisen...                             The ovens will be firing up in Vierumäki next summer. NoHo Partners has been selected as Holiday Club’s partner, and as the first opening, a Fat Lizard restaurant will open at Holiday Club Vierumäki in the summer of 2026. The newcomer brings bold and hearty food and a versatile selection of drinks to the heart of the active Vierumäki holiday resort, to be enjoyed in good company in a cozy atmosphere. In addition to the restaurant and bar, the complex includes a large terrace area, which is set to become the most popular meeting spot of the summer.

Hi!  Last autumn, we hosted the first-ever NoHo Partners Insider Dinner. The evening was a success, and the event sold out in record time. The popularity of the event exceeded all our expectations and confirmed that a new tradition has been born. The next Insider Dinner will be held at Kulttuurikasarmi in Helsinki on Thursday, May 28, 2026, at 6:00 PM. We have updated the invitation process to make it even fairer. This time, speed is not the deciding factor; instead, the right to purchase dinner tickets priced at 60 euros (maximum of two per shareholder) will be raffled among those who have expressed their interest. Want to join? Enter the raffle.

Catering industry turnover/volume has seen a clear upward level correction in December-January. Nordea’s card data has already been telling the same story.  When you add Trump’s tariffs from early April last year that spooked consumers and the miserable weather of the early summer to this equation, NoHo is well-positioned for earnings improvement in this market for H1.

Excellent news for the restaurant industry. NoHo is in an excellent position to meet growing consumer demand. The recent share price decline is likely due to NoHo honestly identifying as a growth company instead of a dividend machine. This is exactly what economists have urged—bold growth instead of maximizing dividends. Now, investors need to evaluate the valuation using growth company multiples instead of as a dividend company.

Today’s Helsingin Sanomat features a story on signs of economic recovery (paywall):                   Helsingin Sanomat – 19 Feb 26              Talouskasvu | Nordean tilastot kertovat: Suomen talous on lähdössä vihdoin...    Nordean sisäiset tilastot näyttävät jo monia kasvun aihioita: Korttimaksut kasvavat, yritysten lainakanta nousee ja asiakkaat siirtävät talletuksia sijoituksiin.                             "According to Nordea’s statistics, card payments have clearly started to grow, especially in the restaurant and retail sectors. ”Retail and restaurants are picking up. Also sporting goods,” Eloranta says, referring to the bank’s card data from January."

NoHo Partners

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...

<p>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.</p> 

	2020	21e	22e
Revenue	156.8	175.2	290.0
growth-%	-42.5 %	11.7 %	65.6 %
EBIT (adj.)	-24.0	-9.7	19.0
EBIT-% (adj.)	-15.3 %	-5.6 %	6.5 %
EPS (adj.)	-1.43	-0.62	0.58
Dividend	0.00	0.00	0.30
Dividend %	0.0 %	0.0 %	4.0 %
P/E (adj.)	neg.	neg.	13.0
EV/EBITDA	17.1	9.8	5.6

NoHo Partners: Back to action after COVID cooldown

Key Estimate Figures17.08.2021

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