Key figures

JANUARY–SEPTEMBER 2019 IN BRIEF:

Group (continuing and discontinued operations):

  • Turnover was MEUR 197.6 (MEUR 142.0), growth of 39.2 per cent.
  • EBIT was MEUR 23.3 (MEUR 11.1), growth of 109.7 per cent.
  • EBIT% was 11.8 per cent.
  • The result of the discontinued operation was MEUR 23.8.
  • The result of the financial period was MEUR 42.8 (MEUR 1.7), growth of 2,476.9 per cent.
  • Earnings per share were EUR 2.16 (EUR 0.09), growth of 2,189.2 per cent.
  • The gearing ratio excluding the impact of IFRS 16 liabilities is 85.8 per cent. IFRS 16 liabilities amount to MEUR 158.3. The gearing ratio including the impact of the IFRS 16 standard is 205.1 per cent.

Restaurant business (comparable continuing operations):

  • Turnover was MEUR 197.7 (MEUR 142.1), growth of 39.2 per cent.
  • EBIT was MEUR 11.7 (MEUR 1.1), growth of 1,008.5 per cent.
  • EBIT% was 5.9 per cent.
  • The result of the financial period was MEUR 7.4 (MEUR -0.3), growth of 2,302.3 per cent.
  • Earnings per share were EUR 0.29 (EUR -0.01), growth of 2,129.5 per cent.

JULY–SEPTEMBER 2019 IN BRIEF

Group (continuing and discontinued operations):

  • Turnover was MEUR 76.7 (MEUR 66.2), growth of 15.9 per cent.
  • EBIT was MEUR 9.8 (MEUR 2.5), growth of 297.2 per cent.
  • EBIT% was 12.8 per cent.
  • The result of the discontinued operation was MEUR 29.7.
  • The result of the financial period was MEUR 37.4 (MEUR -0.9), growth of 4,080.9 per cent.
  • Earnings per share were EUR 1.92 (EUR -0.06), growth of 3404.2 per cent.

Restaurant business (comparable continuing operations):

  • Turnover was MEUR 76.7 (MEUR 66.2), growth of 15.9 per cent.
  • EBIT was MEUR 6.0 (MEUR -1.2), growth of 597.6 per cent.
  • EBIT% was 7.8 per cent.
  • The review period’s EBIT includes Norwegian transaction costs amounting to MEUR 0.2.
  • The result of the financial period was MEUR 3.9 (MEUR -1.7), growth of 328.0 per cent.
  • Earnings per share were EUR 0.15 (EUR -0.10), growth of 252.3 per cent.

DESCRIPTION OF ACCOUNTING PRINCIPLES:

  • In the interim report, the labour hire segment is treated as a discontinued operation and a separate item in the income statement. Comparative information has been adjusted accordingly. For more detailed information, see Interim Report Note 3.
  • Due to the labour hire business transaction, the Group is starting to present alternative performance measures that improve comparability. It is believed that these alternative performance measures improve the understanding prevailing on the market regarding the development and financial situation of the restaurant business. The most significant item added to the comparable result is the Group’s internal staffing service purchases that took place before the transaction. In the future, these will be presented as outsourced services. The calculation principles of the key figures that improve comparability are presented in more detail in Interim Report Note 3.
  • In the interim report, the Group’s continuing and discontinued operations as well as the comparable continuing operations of the restaurant business are presented separately.
  • Starting from September 2019, the Group only has one segment: the restaurant business.
  • NoHo Partners adopted the IFRS 16 Leases standard as of 1 January 2019. The figures of the reference period 2018 have not been adjusted. More information about the application of the IFRS 16 standard and other significant interim report accounting principles can be found in the notes to the interim report.
  • Unless otherwise stated, figures in parentheses refer to the corresponding period last year.

Figures in parentheses refer to the same period last year, unless otherwise stated.

The Interim Report Q3/2019 is available at here.

Key figures

EUR 000´s 2012 2013 2014 2015 2016 2017 2018
Net sales 60 773 65 033 86 653t 113 618t 130 072t 185 856t 323 158
Annual growth, % 28.5 % 7.0 % 33.2 % 31.3 % 14.5 % 42.9 % 73.9 %
EBITDA 9 939t 9 146 12 008 16 536t 19 399t 22 404t 28 410
EBITDA-% 16.4 % 14.1 % 13.9 % 14.6 % 14.9 % 12.1 % 8.8 %
EBIT 5 719 4 051 5 265 7 266 8 998 10 767 7 190
EBIT-% 9.4 % 6.2 % 6.1 % 6.4 % 6.9 % 5.8 % 2.2 %
Net profit 3 788t 2 908 3 334t 4 809 5 864t 5 492t 4 231
Shareholders of the parent 3 076t 2 565t 3 451t 5 050t 5 608t 5 058t 3 494
Non-controlling interests 712 344 -117t -241 256 434 737
Interest-bearing net debt 5 982 6 184t 18 944t 29 313 30 377t 43 649t 138 500
Net gearing 43.8 % 21.9 %t 48.1 %t 73.2 %t 69.1 %t 93.1 %t 184.3 %
Equity ratio 38.1 %t 60.9 %t 47.2 %t 44.4 %t 45.2 %t 35.3 %t 24.6 %
Main operating metrics 2012 2013 2014 2015 2016 2017 2018
Materials margin-% 74.3 % 73.9 % 74.0 % * * * 73.9 %
Personnel expenses-%
(incl. external services)		 29.6 % 30.1 % 29.6 % * * * *
ROIC-% 24.2 % 10.7 % 10.5 % 10.8 % 11.9 % 10.7 %t 5.2 %
No. restaurants, net change 10 0 32 11 9 20 69
* The figures stated below according to the new segment structure.
Restaurant business
(EUR thousand)		 2014 2015 2016 2017 2018
Turnover 83 666t 100 315t 107 544t 122 174t 209 725
EBITDA 11 444t 14 801t 16 475t 16 325t 19 643
EBITDA, % 13.7 %t 14.8 %t 15.3 %t 13.4 %t 9.4 %
Operating profit 4 957t 6 492t 7 401t 6 920t 2 206
Operating profit, % 5.9 %t 6.5 %t 6.9 %t 5.7 %t 1.1 %
Key figures
Material margin, % 74.0 % 74.3 %t 74.6 %t 74.1 %t 73.9 %
Staff expenses, % 29.6 %t 28.5 %t 28.1 %t 28.0 %t 32.1 %
Labour hire business
(EUR thousand)		 2014 2015 2016 2017 2018
Turnover 6 833t 24 151t 34 129t 75 612t 127 090
EBITDA 696 2 161t 3 441t 6 603t 8 753
EBITDA, % 10.2 %t 8.9 %t 10.1 %t 8.7 %t 6.9 %
Operating profit 308 775 1 597t 3 834t 4 970
Operating profit, % 4.5 %t 3.2 %t 4.7 %t 5.1 %t 3.9 %
Key figures
Staff expenses, % 84.0 %t 85.2 %t 85.5 %t 83.7 %t 82.4 %