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
  createdAt
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
    forum {
      threadUrl
    }
    defaultInstrument {
      symbol
      id
    }
  }
  ...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 {
        threadUrl
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        symbol
        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
          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
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
}

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-nohonordic-restaurant-market-shows-signs-of-improvement-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.

These are also, preliminarily, the most interesting parts for me tomorrow. After the last CEO interview, I was relatively certain that a new acquisition would be completed on the BBS side during Q2, but we still haven’t heard anything about it.  Regarding NoHo itself, it’s also very interesting that it’s about to be 12 months since the last acquisition worth announcing (Jungle Juice Bar, Sep 2nd), and as far as I know, this is relatively exceptional for NoHo in a so-called normal market.   Following the media, smaller restaurants continue to go under, and you have to read cries for help where people are shouting for support because trade hasn’t been as expected, even during the summer. There is some good news coming from the economy and consumer confidence has started to recover slightly; we’ll see if this is the quarter where that already shows in NoHo’s figures, or if it will take until Q4, for example.

Weak June compared to my expectations according to Nordea’s card data for restaurants:  The comparison period is also weak.

It feels like NoHo has gone up on one side and down on the other. Target prices could be reached when all the gears are working at a “normal” level and the results show through to the EPS. Of course, there is the risk that the nightlife market, for example, will not return to its previous level. Then there are those clubs, which are a nuisance. It will be interesting to see the figures from Norway. The whole country has gone crazy over football, and that will surely have some impact on the utilization rates of services and restaurants. Additionally, I’m waiting for something concrete regarding the situation with BBS. When is the next acquisition coming? I would also be interested in knowing about acquisition targets in Finland. Are the asking prices so much higher than NoHo’s, or are the companies just in such poor shape that they aren’t interesting?

It doesn’t really matter much what the analysts are shouting about. After all, analysts have been hyping up, for example, Qt Group, and things have been different. According to one study, analysts are right 30% of the time, so it’s pointless to rely on someone else’s analysis. In the long term, the development of cash flow drives the share price. In the short term, stock prices seem to fluctuate quite randomly.

It’s interesting that NoHo seems to be a clear “buy” according to analysts, as evidenced by Nordea’s target price estimate of €9–€11.60 today. Yet, the stock still seems to be dragging around the €7.50 level.

Sunny summer to the forum!  NoHo Partners’ half-year report will be published on Tuesday, August 4. The webcast will be held as usual on the same day at 10 a.m. here. Read more in the press release. Feel free to send in your questions!

KFC and Noho are in different leagues. Different customers. No impact.

NoHo Partners

Ahead of NoHo's Q2 2026 report, due on 4 August, we lift our estimates slightly to reflect the positive market development and better weather conditions y/y, which should support the important...

Ahead of NoHo's Q2 2026 report, due on 4 August, we lift our estimates slightly to reflect the positive market development and better weather conditions y/y, which should support the important terrace sales. While the challenges in Norway still prevail, we argue that the gradually improving consumer confidence and synergy benefits from recent acquisitions should support earnings momentum. We derive a slightly higher DCF- and multiples-based fair value range of EUR 9.0-11.6 (8.8-11.4), reflecting the solid underlying operations and growth trajectory supported by the company's M&amp;A strategy.

Noho Partners: nohoNordic restaurant market shows signs of improvement - Nordea

Noho Partners: nohoNordic restaurant market shows signs of improvement - Nordea