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
    }
    ... 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-new-dividend-policy-supports-growth-ambitions-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.

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.

For the second month in a row, Noho’s largest seller was the foundation. The remainder will likely have been sold during June:  Several Nordea funds were also selling. Former CEO Aku Vikström trimmed his position slightly:

Arvopaperi – 29 May 26              Markkinan kääntyminen on vain ajan kysymys – Se voi saada Nohon osakkeen liitoon    Nohon osakekurssi on junnannut vuosia. Yhtiö on vetänyt vyötä kireämmälle ja jatkanut itsepintaisesti yritysostoja vääntääkseen kasvua heikossa ravintolamarkkinassa. Tulosvipu voi olla tuntuva, kun suomalaiset alkavat taas kuluttaa ravintoloissa.                             Arvopaperi had a good article on NoHo today. There seemed to be quite a bit of technical selling pressure on the stock today due to its removal from the index, which is why the share price dropped 6% from its morning levels.

According to Statistics Finland (Tilastokeskus), turnover in food and beverage service activities grew again in April compared to the previous year:  Last year, both May and June were sluggish in this sector (in terms of volume) as the weather conditions were poor:

NoHo Partners

We view NoHo Partners' Q4 2025 results as operationally solid, despite the ongoing challenges in Norway, though the DPS was a disappointment to the market. Nevertheless, we argue that the company...

We view NoHo Partners' Q4 2025 results as operationally solid, despite the ongoing challenges in Norway, though the DPS was a disappointment to the market. Nevertheless, we argue that the company should be on a solid growth track, driven by gradually improving consumer confidence, new openings and acquisitions, for example, while the expansion of BBS supports EPS. Based on our new estimates, we derive a lower fair value range of EUR 8.9-11.5 (9.2-11.8) per share, equally weighting our DCF- and SOTP-based valuation methods. Despite the near-term challenges in Norway, which should be solved by H2, we argue that NoHo's underlying operations are in excellent shape, and the company should have no problem delivering improving earnings, going forward.

NoHo Partners: New dividend policy supports growth ambitions - Nordea

NoHo Partners: New dividend policy supports growth ambitions - Nordea