NoHo Partners Plc
INSIDE INFORMATION 6 JULY 2023 at 10:00 EET
NoHo Partners Plc has today announced the acquisition of the leading Swiss
premium burger chain Holy Cow!. Consequently, NoHo Partners increases its profit
guidance for 2023 concerning revenue. The profit guidance concerning EBIT margin
remains unchanged.
In 2022, Holy Cow! reached MCHF 38.8 in turnover and MCHF 2.2 in EBIT.
New profit guidance (as of 6 July 2023):
NoHo Partners estimates that, during the financial year 2023, it will achieve
total turnover of approximately MEUR 380 and EBIT margin of approximately 9% in
the restaurant business.
The company will reach the targets set for the strategy cycle ending in 2024
ahead of time. The company will update its long-term strategic and financial
targets for the next strategy cycle 2024-2026 and publish them during the first
half of 2024.
Previous profit guidance (as of 16 February 2023):
Previously, the company estimated that it will achieve total turnover of over
MEUR 350 and EBIT margin of approximately 9% in the restaurant business during
the financial year 2023.
The Group's long-term guidance remains unchanged: The Group aims to achieve
turnover of approximately MEUR 400 and an EBIT margin of approximately 10%
during 2024. In the long-term, the company aims to keep the ratio of net debt to
operational EBITDA, adjusted for IFRS 16 lease liability, under 3 and distribute
annually increasing dividend.
Additional information:
Aku Vikström, CEO, contact through tel. +358 50413 8158
Jarno Suominen, Deputy CEO, tel. +358 40 721 5655
Distribution:
Nasdaq Helsinki
Major media
www.noho.fi/en
NoHo Partners Plc is a Finnish group established in 1996, specialising in
restaurant services. The company, which was listed on Nasdaq Helsinki in 2013
and became the first Finnish listed restaurant company, has continued to grow
strongly throughout its history. The Group companies include some 250
restaurants in Finland, Denmark and Norway. The well-known restaurant concepts
of the company include Elite, Savoy, Teatteri, Sea Horse, Stefan's Steakhouse,
Palace, Löyly, Hanko Aasia, Friends & Brgrs, Campingen and Cock's & Cows.
Depending on the season, the Group employs approximately 2,300 people converted
into full-time employees. The Group aims to achieve turnover of MEUR 400 by the
end of 2024. The company's vision is to be the leading restaurant company in
Northern Europe.