NoHo Partners’ strategy and financial targets: seeking controlled growth and improved profitability in the strategy period 2022–2024
The company’s vision is to be the leading restaurant company in Northern Europe. According to its values, the company focuses on entrepreneurship, quality, people, profitability and responsibility. The company will publish an ESG report on its operating principles on the basis of its values in 2022.
The Group’s long-term financial targets for the strategy period 2022–2024 were published on 11 June 2021.
The financial targets for the strategy period 2022–2024:
• The Group aims to achieve a turnover of approximately MEUR 400 and an EBIT margin of approximately 10 per cent during 2024.
• At the same time, the aim of the company is for the ratio of net debt to operating cash flow, adjusted for IFRS 16 lease liability, to be under 3.
• The objective of the company is to pay dividends during the strategy period.
The Group’s updated strategy focuses on:
• Profitable growth in the Norwegian restaurant market through acquisitions
• Scaling up the Friends & Brgrs chain to a national level
• Large and profitable urban projects
• Continuation of the cost-saving programme
• Operational efficiency improvement
• Portfolio development
• Implementation of the development programmes in Denmark
• Strong future operating cash flow
• Gradual divestment of Eezy Plc
• Use of treasury shares in acquisitions
NoHo Partners estimates that, during the financial year 2022, it will achieve total turnover of over MEUR 300 and an EBIT margin of over 8,5% in the restaurant business.
The vision is to be the leading restaurant company in Northern Europe.
Our operations and decisions are steered by our entrepreneurship, people, quality, profitability and responsibility.