NoHo Partners updates its strategy and long-term financial targets for the strategy period 2025–2027

NoHo Partners Plc, Stock Exchange Release, 21 May 2024 at 22:00 EET

NoHo Partners updates its strategy and long-term financial targets for the strategy period 2025–2027

NoHo Partners’ Board of Directors has approved the company’s strategy and long-term financial targets for the strategy period 2025–2027.

Financial targets for the strategy period 2025–2027:

Finnish operations

• Turnover of approx. MEUR 400 and maintaining the current good level of EBIT margin

International business

• Profitable growth and creating shareholder value

Dividend

• Company aims to distribute annually increasing dividend

 

Net debt

• In the long-term, the company aims to decrease the ratio of net debt to operational EBITDA excl. IFRS 16 impact to the level of approx. two

 

The Group’s updated strategy focuses on:

Profitability accelerating growth

• Efficient capital allocation and profit
• Growth in Finnish operations and international growth through investment activities

 

Strengthening the balance sheet

• Controlled debt level
• Decreasing financial expenses
• Improving equity ratio

 

Increasing dividend

 

Chairman of NoHo Partners’ Board of Directors, Timo Laine:

”NoHo Partners’ vision is to be the leading restaurant company in Northern Europe. In the upcoming strategy period, the company continues its strong and profitable growth in the restaurant and entertainment market in Finland. In the international business, the new strategic operational model is to be an active investor in the international restaurant market, which enables profitable growth in all markets. As a part of the new operational model, we explore strategic options to accelerate international profitable growth.”

 

Capital Markets Day 2024

NoHo Partners will present its updated strategy and long-term financial targets at the Capital Markets Day, which will be held tomorrow on 22 May in restaurant Palace starting at 13 EET. The live event is for institutional investors, analysts and media representatives but can be followed via a live webcast at https://noho.videosync.fi/cmd-2024. The language of the event and the materials is Finnish. The recording of the event as well as the presentation materials will be available on company’s website at https://www.noho.fi/en/investors/cmd-2024/ shortly after the event.

Additional information
Timo Laine, Chairman of the Board, tel. +358 40 062 6064
Aku Vikström, CEO, [email protected] (Executive assistant Niina Kilpeläinen, tel. +358 50 413 8158)

NoHo Partners Plc

NoHo Partners Plc is a Finnish group established in 1996, and it specialises in restaurant services being the creative innovator of the Northern European restaurant market. The company was listed in Nasdaq Helsinki in 2013 becoming the first Finnish listed restaurant company, and it has continued to grow strongly throughout its history.

The Group companies include some 300 restaurants in Finland, Denmark, Norway and Switzerland. The well-known restaurant concepts include Elite, Savoy, Teatteri, Sea Horse, Stefan’s Steakhouse, Palace, Löyly, Friends & Brgrs, Campingen, Cock’s & Cows and Holy Cow!. Depending on the season, NoHo Partners employs approx. 2,800 people converted into full-time employees, and in 2023, company’s turnover amounted to approx. MEUR 370. NoHo Partners’ vision is to be the leading restaurant company in Northern Europe. More information is available at noho.fi/en.