NoHo Partners Oyj: NoHo Partners Plc revises the long-term financial targets of its Finnish business

NoHo Partners Plc, Stock Exchange Release, 1 April 2025 at 8:00 EET

NoHo Partners Plc revises the long-term financial targets of its Finnish business

NoHo Partners Plc has today announced in a separate stock exchange release that Better Burger Society, which operates in the growing European premium burger market, will separate from the NoHo Partners group. As a result of the separation, NoHo Partners' voting rights in the company will drop to 49.6 per cent. As of 1 April 2025, Better Burger Society will no longer be NoHo Partners group's subgroup, but will instead be consolidated into NoHo Partners group as an associated company. The share of associated company's result based on holding will be recognised in NoHo Partners Plc's financial income.

The company's long-term financial targets published on 22 May 2024 assumed with regard to turnover in Finnish operations that the turnover of the Friends&Brgrs chain belonging to Better Burger Society will grow and develop as expected. With Better Burger Society separating from the NoHo Partners group, the amount of Friends&Brgrs' turnover estimated by the company for 2027 will also be omitted from the long-term turnover target for Finnish operations.

Following the arrangement, NoHo Partners revises the long-term financial targets set for the strategy period 2025-2027 with regard to business operations in Finland.

Long-term financial targets (revised on 1 April 2025)

In Finnish operations, the Group aims to achieve a turnover of approx. MEUR 350 and to maintain the current good level of EBIT margin. In international business, the target is profitable growth and creating shareholder value. In the long term, the company aims to decrease the ratio of net debt to operational EBITDA, adjusted for IFRS 16 lease liability, to the level of approx. 2 and to distribute annually increasing dividend.

Previous long-term financial targets (published on 22 May 2024)

In Finnish operations, the Group aims to achieve a turnover of approx. MEUR 400 and to maintain the current good level of EBIT margin. In international business, the target is profitable growth and creating shareholder value. In the long term, the company aims to decrease the ratio of net debt to operational EBITDA, adjusted for IFRS 16 lease liability, to the level of approx. 2 and to distribute annually increasing dividend.

Additional information:
Jarno Suominen, CEO, jarno.suominen@noho.fi (Management Assistant Niina Kilpeläinen, tel. +358 50 413 8158)
Jarno Vilponen, CFO, tel. +358 40 721 9376
Sanna Sandvall, Head of Investor Relations and Communications, tel. +358 40 760 0794

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, Strindberg, Campingen and Cock's & Cows. Depending on the season, NoHo Partners employs approx. 2,800 people converted into full-time employees, and in 2024, the company's turnover amounted to approx. MEUR 430. NoHo Partners' vision is to be the leading restaurant operator in Northern Europe. For more information, visit noho.fi.