NoHo Partners

7.24 EUR

-0.41 %

9,116 following
Corporate customer

NOHO

NASDAQ Helsinki

Consumer Services

Consumer Goods & Services

-0.41 %
-0.55 %
-11.71 %
-11.92 %
-19.38 %
-19.23 %
-10.17 %
-17.91 %
+45.67 %

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.

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Market cap
152.36M EUR
Turnover
6.2K EUR
P/E (adj.) (26e)
11.75
EV/EBIT (adj.) (26e)
12.32
P/B (26e)
1.39
EV/S (26e)
1.14
Dividend yield-% (26e)
4.14 %
Coverage
Recommendation
Accumulate
Target price
9.00 EUR
Updated
2026-04-21
Disclaimer
Sauli Vilén
Arttu Heikura
Arttu Heikura, Sauli Vilén
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Latest research

Latest analysis report

Released: 2026-02-12

Latest extensive report

Released: 2025-09-12

Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
5/5
2026

Interim report Q1'26

7/5
2026

Triannual dividend

4/8
2026

Interim report Q2'26

Risk
Business risk
Valuation risk
Low
High
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Third party research

NoHo Partners: Solid Q4, but dividend was halved - Nordea

NoHo Partners reported Q4 EBIT of EUR 11.8m (-3.7% y/y), 4% above Vara Research consensus and 6% above our estimate. Q4 net sales were up 5.3% y/y at EUR 101.8m, 3% below consensus and 2% below our estimate. Finland EBIT came in 5% above our estimate...

NoHo Partners
Third party research

NoHo Partners: Focus on market recovery - Nordea

Ahead of NoHo's Q4 2025 report, due out on 11 February, we lower our estimates slightly to reflect the challenges in its Norwegian operations, while sales in Denmark and Finland have likely developed in a solid manner. For 2026, we argue that investors...

NoHo Partners
Third party research

NoHo Partners: Norwegian challenges remain - Nordea

NoHo Partners' Q3 2025 was challenging, mainly due to Norway, where the market keeps declining and the anticipated turnaround has not yet emerged. The market remained muted also in Finland, although we expect the pre-Christmas season to ease the situation...

NoHo Partners
NoHo Partners Q3'25: Vinsttillväxten låter vänta på sig
Research by
Sauli Vilén

NoHo Partners Q3'25: Vinsttillväxten låter vänta på sig

NoHos Q3-rapport var överlag svag, och marknadsmiljön har förblivit svagare än våra förväntningar. Som en återspegling av de sänkta vinstestimaten justerar vi NoHos riktkurs till 9,0 euro (tidigare 10,0e). Aktien är förmånligt värderad, förutsatt att vinsttillväxten realiseras, och baserat på detta upprepar vi vår Öka-rekommendation. På kort sikt är dock kursdrivarna få, innan vinsttillväxten tar fart.

NoHo Partners
Third party research

NoHo Partners: Weak Q3 due to Norway - Nordea

NoHo Partners reported Q3 EBIT of EUR 7.6m from continuing operations (down 13% y/y), 12% below Vara Research consensus and 9% below our estimate. Net sales from continuing operations were up 3% y/y to EUR 91.4m, but were 4% below consensus and in line...

NoHo Partners
Forum discussions
Oops. Went live too early As an addition to this message I wrote in the coffee room yesterday, I thought I’d comment with a few words on NoHo’s Annual General Meeting held on Wednesday, as no one else has taken on the task and on the train—surprise, surprise, to Tampere again—I have...
4/17/2026, 8:00 AM
by NukkeNukuttaja
38
In my opinion, NoHo has been misunderstood. As a company, NoHo is a serial acquirer that should be compared to other serial acquirers in terms of valuation. As the CEO stated at the AGM – unlisted restaurants are bought at low valuation multiples, and once they are brought under ...
4/16/2026, 4:05 PM
by Alamäki
24
Jarno’s review is very concise, in his typical style. A fairly good overview of NoHo and their operating model. It’s also clear from the comments that there wasn’t much satisfaction with 2025, as growth fell short. Problems in Norway were also discussed realistically, which is of...
yesterday
by Sauli Vilen
16
Thank you for the comprehensive feedback and for participating! It’s great to hear that the timing and the event as a whole worked well, not to mention the catering See you again next time!
4/17/2026, 2:02 PM
by Sanna Sandvall
15
According to Ilmarinen’s business cycle index, there was quite good development in the accommodation and food services sector in March and the beginning of the year:
4/15/2026, 8:38 AM
by Karhu Hylje
15
Hey! NoHo’s Q1 2026 interim report will be published on Tuesday, May 5th, at approximately 8:00 AM. You can follow the results webcast on the same day starting at 10:00 AM here. Questions are welcome! More detailed information can be found, as usual, in the press release. Some of...
4/14/2026, 8:18 AM
by Sanna Sandvall
12
Picked from OP’s report: Additionally, based on, for example, the January-February sales figures reported by Kesko, demand in the HoReCa sector (which Kespro serves) has been slightly negative in the early part of the year Kesko’s March figures were released yesterday, and they showed...
4/17/2026, 7:24 AM
by Karhu Hylje
11
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