NoHo Partners Plc’s Interim Report 1 January–31 March 2026: Turnover grew, but profitability declined slightly in the seasonally smallest quarter

NoHo Partners Plc’s Interim Report 1 January–31 March 2026: Turnover grew, but profitability declined slightly in the seasonally smallest quarter

This release is a summary of NoHo Partner’s Interim Report for 1 January–31 March 2026. The complete report is attached to this release and is also available at www.noho.fi/en

JANUARY–MARCH 2026 IN BRIEF

• Turnover increased by 5.8% and was MEUR 81.7 (77.2).
• Operational EBITDA decreased by 6.9% to MEUR 6.6 (7.1).
• EBIT decreased by 9.3% and was MEUR 4.9 (5.4).
• EBIT margin was 6.0% (7.0%).
• The result for the period (continuing operations) decreased by 8.2% and was MEUR 0.8 (0.9).
• Earnings per share (continuing operations) increased by 2.7% and were EUR 0.01 (0.01).
• The result for the period (discontinued operation) was MEUR 0.0 (1.0).
• The result for the period was MEUR 0.8 (1.9) and decreased by 58.3%.
• Earnings per share were EUR 0.01 (0.04) and decreased by 65.4%.

KEY FIGURES

*The balance sheet for the comparison period Q1 2025 also includes Better Burger Society.

FUTURE OUTLOOK

PROFIT GUIDANCE AS OF 11 FEBRUARY 2026

NoHo Partners estimates that, during the financial year 2026, the Group's profitability will remain at the current good level, and comparable earnings per share will increase.

FINANCIAL TARGETS FOR THE STRATEGY PERIOD 2025–2027

The Company’s long-term guidance is as follows:

In Finnish operations the Group aims to achieve a turnover of approx. MEUR 350 and to maintain the current good level of the EBIT margin. In International business, the target is profitable growth and creation of 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 at least 50% of comparable earnings per share for the financial year as dividends.

CEO REVIEW

We achieved a 6% EBIT margin and the Group’s turnover grew in the seasonally weakest quarter, which can be considered a reasonable performance as the uncertain global situation increases consumer caution. Overall, however, the result for the first quarter fell short of our expectations.

Despite the challenging market situation, profitability in Finland remained stable at 7% and turnover increased, driven by Jungle Juice Bar, which was acquired last autumn. Jungle Juice Bar’s business structure has been refined to meet the requirements for profitable growth, and the integration into the Group is progressing according to the plan. Also high-end restaurants among Finland’s top establishments, such as Palace and Savoy, continued their strong development, performing even better than the record comparison period.

The development of the international business was variable. In Denmark, January–February was exceptionally cold, which was reflected in customer demand and the financial performance of the restaurant business. Triple Trading continued its growth as planned. NoHo Partners strengthened its presence in Denmark by acquiring a restaurant in Tivoli, Copenhagen, early in the year, and the operations started at the end of the review period. The Halifax Burgers restaurant chain saw an interesting new opening when its franchising unit selling burgers opened in the Danish grocery chain Meny after the end of the review period. If the pilot project is successful, the company has prepared to open several similar units together with the grocery chain.

The work to restore profitability in Norway is progressing, and EBIT was positive in the seasonally weakest quarter of the year. This shows that the measures already taken are in the right direction, although there is still no sign of a turnaround in the market situation in Norway. The goal is that operations in Norway are back on a profitable basis by the end of the first half of the year.

The second quarter of the year has started better than the previous year, and the number of reservations for the coming months is developing positively. Our diverse portfolio is in order and we are ready for the upcoming summer season.

TURNOVER AND INCOME

In January–March 2026, the Group’s turnover increased by 5.8% to MEUR 81.7 (77.2). Operational EBITDA was MEUR 6.6 (7.1) and decreased by 6.9% compared to the corresponding period in the previous year. EBIT was MEUR 4.9 (5.4) with an EBIT margin of 6.0% (7.0%). The result of continuing operations was MEUR 0.8 (0.9), and the result of discontinued operation was MEUR 0.0 (1.0). The result of the Group for January–March was MEUR 0.8 (1.9).

The Company was able to balance the effects of inflation on its business, among other things, through centralised purchasing agreements. With the effective operational control, gross profit and personnel expenses have remained at a competitive level.

FINNISH OPERATIONS

In January–March 2026, turnover increased by 3.7% from the previous year to MEUR 60.2 (58.0). Operational EBITDA was MEUR 5.2 (5.1). EBIT was MEUR 4.2 (4.2) with a 7.0% (7.2%) EBIT margin.

INTERNATIONAL OPERATIONS

In January–March 2026, turnover increased by 11.9% from the comparison period of the previous year to MEUR 21.5 (19.2). Operational EBITDA was MEUR 1.4 (1.9). EBIT was MEUR 0.7 (1.3) with a 3.5% (6.6%) EBIT margin.

BRIEFING FOR ANALYSTS, INVESTORS AND MEDIA

The company will present the results for the reporting period to analysts, investors and media over a webcast today at 10:00 EEST. In the webcast held in Finnish, Noho Partners’ CEO Jarno Suominen and CFO Jarno Vilponen will present the company’s financial performance and key events during the reporting period as well as the current state of business and the outlook.

The live webcast can be followed at https://noho.events.inderes.com/q1-2026.

During and after the presentation, the questions can be placed through the webcast chat function or by phone. To ask questions by phone, the participant is required to register at https://events.inderes.com/noho/q1-2026/dial-in. After the registration you will receive the phone number and conference ID to access the conference. If you wish to ask a question, please press *5 on your telephone keypad to enter the queue.

The recording of the webcast will be available on the company’s website later on the same day.

Additional information
Jarno Suominen, CEO, jarno.suominen@noho.fi (Executive assistant Niina Kilpeläinen, tel. +358 50 413 8158)
Jarno Vilponen, CFO, tel. +358 40 721 9376
Sanna Sandvall, Head of IR & 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 and Norway. The well-known restaurant concepts include Elite, Savoy, Teatteri, Sea Horse, Stefan’s Steakhouse, Palace, Löyly, Strindberg, Jungle Juice Bar, Campingen and Cock’s & Cows. Depending on the season, NoHo Partners employs approx. 2,800 people converted into full-time employees, and in 2025, Group’s turnover amounted to approx. MEUR 360. Additionally, NoHo Partners acts as an active investor in Better Burger Society Group. The well-known brands of Better Burger Society, that operates in the growing European premium burger market, are Friends&Brgrs and Holy Cow!. NoHo Partners’ vision is to be the leading restaurant operator in Northern Europe. More information is available at noho.fi/en.