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
  createdAt
  changedAt
  isPremium
  authors {
    __typename
    name
    pageUrl
    id
  }
  companies {
    name
    pageUrl
    id
  }
  tags {
    name
    id
  }
  ... on Video {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
  ... on Webcast {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
}

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
      researchContentUrl
      researchContent {
        title
        lang
        pdfUrl
        relatedContent {
          __typename
          ...PublishingDetails
          ...Reactions
          id
        }
        content {
          title
          lang
          slug
          htmlBody
          publishedAt
          createdAt
          changedAt
          isOutdated
          isPremium
        }
      }
    }
    ... 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
    }
  }
}


restamax-organic-growth-expectations-are-moderate-nordea

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

changedAt

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.

Nordea’s fresh card data confirms my expectations of a strong May for restaurants:  Good growth both in real and nominal terms. Last year’s June was also unstable in terms of weather, so the comparison period isn’t difficult in that regard either.

I don’t know if this kind of arena has been discussed in the media before. We’ll have to wait for the cash flow, but it’s a total no-brainer for NoHo to enter the competition and get selected. With the right design and spatial solutions, this will become Finland’s magnet for truly big artists. You won’t always have to wait for summer to take gigs to the Olympic Stadium, or alternatively, deal with organizing events in a hockey rink. A centrally located arena of sufficient scale for international stars—not just Finnish top artists—is a widely requested thing. Once completed, I see nothing but high-margin alcohol and food sales for NoHo. Perhaps my message is more of a celebration of the arena itself than NoHo, but this is exactly what the Finnish event industry needs. NoHo will say thanks in the form of burgers.

Inderes              NoHo Partners vastaamaan Vantaalle rakennettavan Arena 3.3:n...    NoHo Partners Oyj | Sijoittajauutinen | 11.6.2026 klo 09:00NoHo Partners on valittu Vantaan Kivistöön rakennettavan Arena 3.3:n ravintolakumppaniksi. Valmistuessaan Arena 3.3 tulee olemaan Pohjoismaid...                             “NoHo Partners has been selected as the restaurant partner for Arena 3.3, to be built in Kivistö, Vantaa. Upon completion, Arena 3.3 will be the largest event arena complex in the Nordic countries, aiming to become Finland’s primary venue for world-class concerts, entertainment, and sports events with an indoor capacity of over 20,000 spectators.”  “The arena is estimated to be completed in late 2028, with the first events potentially being held in early 2029.” Good stuff, but we’ll have to wait a little while before this generates any cash flow for NoHo.

I’ve been wondering the same thing myself. Let’s look ahead, say, four years: BBS completes its third acquisition target in Italy this Midsummer and scales it successfully. NoHo and Intera sell their holdings, and let’s say the investment is a massive hit, allowing NoHo to distribute a €1.20 exit dividend. What does NoHo look like after that? Will it continue buying restaurants in Finland (Tampere) one by one and increasing market share? Have more major openings been made in other Nordic countries? Will NoHo want to buy F&B Finland’s operations back under the parent company if they become available at a sensible price? Will NoHo stop acquisitions and start pumping out cash as dividends as it accumulates, using money for new openings of Luca or Hook instead of M&A? It almost has the same vibe as Sampo after selling its Nordea holdings—will NoHo become a “boring” company?  That boredom would be great if NoHo could get every cylinder in the engine running and churn out cash in Finland, Norway, and the nightclub segment. Currently, seeing that feels a bit difficult as problems in certain segments have lasted for years at worst.

I can sense some signs in the current market situation reminiscent of the post-pandemic times. Card data is positive, the weather has been good, and Finland won gold. These factors are directly reflected in people’s behavior and perhaps a belief in better times ahead. It is also the arrival of summer that gets people out spending. With NoHo, I’ve had to contemplate what the ultimate outcome of the strategy will be. What are the risks and what is the company aiming for? On one hand, the business in Finland is stable, but abroad, either Denmark or Norway has been struggling in turns. At the same time, the nightlife market in Finland has been sputtering, so it has required nerves to sit and wait for a turnaround. On the other hand, if the turnaround is now heading in the right direction, what multiples would be reasonable for NoHo? This story is screaming for EPS (earnings per share) growth, as Sauli has also mentioned here. If that result doesn’t flow down to the EPS over the coming quarters, I’ll have to consider how long I can justify sitting on the position relying just on dividends and BBB (Better Baked) / BBS. Perhaps I like the company’s services too much, which is why I’ve stayed involved.

In addition to these micro-observations from the spring, it should be noted that the successful Ice Hockey World Championships likely didn’t have a negative impact on NoHo’s operations. In Tampere, NoHo’s “capital city,” several NoHo restaurants were involved in the tournament atmosphere. It’s probably rare to see sales like this on a Sunday-Monday night: Henkka Tampere  The weather was favorable for almost the entire month of May. Furthermore, the same trend seems to be continuing into early June. The difference compared to the comparison period is significant:  Yes, I am bullish on NoHo in the short term as well. Please feel free to present a bearish counter-argument for the short term, or even the long term for that matter.

Which index was NoHo removed from? For some reason, my brain isn’t ringing any bells right now.

NoHo Partners

Ahead of NoHo's Q1 2026 report, due on 5 May, we lower our estimates slightly to reflect the ongoing sluggish market development and more cautious consumer sentiment. While we still expect the...

Ahead of NoHo's Q1 2026 report, due on 5 May, we lower our estimates slightly to reflect the ongoing sluggish market development and more cautious consumer sentiment. While we still expect the operational challenges in Norway to be resolved by H2 and the Finnish operations to maintain a stable profitability level, we argue that any further deterioration in demand may risk overall margin resilience. Yet we see upside from successful M&amp;A, new openings and the geographical expansion of Better Burger Society. We derive a higher fair value range of EUR 9.4-12.0 (8.9-11.5) by equally weighing our DCF- and multiples-based valuation methods.

Restamax: Organic growth expectations are moderate - Nordea

Restamax: Organic growth expectations are moderate - Nordea