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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.

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Key Estimate Figures2021-08-17

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 %3.9 %
P/E (adj.)neg.neg.13.5
EV/EBITDA17.110.05.7

Forum discussions

instagram.com Kirjaudu sisään • Instagram Tervetuloa takaisin Instagramiin. Katso, mitä kaverisi, sukulaisesi ja kiinnostuksen kohteesi ovat...
yesterday
by OttoJ
5
Hanna-Stiina has sold shares multiple times, likely to finance H5 Ravintolat Oy. Their daughter was a shareholder, and the brother was the main...
yesterday
by Jukka
3
Yes, regarding the former, certainly so. Regarding the latter, the explanation is poor, and above all, it’s activity that damages the company...
yesterday
by JuhaR
8
To be precise, Hanna-Stiina Niemi is close to the management and, to my understanding, not employed by NoHo; she sells her holdings quite regularly...
yesterday
by NukkeNukuttaja
13
This company doesn’t like to pay its bills (paywall): Aamulehti – 11 Dec 25 Tamperelaisella pörssijätillä kymmeniä viivästyneitä laskuja ja....
yesterday
by JuhaR
5
NoHolle’s share of BBS’s profit is already included in that 18x.
12/11/2025, 6:55 AM
by Arttu Heikura
6
What about the P/E ratio when there is no fair value change included, but there is a NoHo share of the BBS result?
12/10/2025, 6:17 PM
by Jussi Koskinen
0
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