Strategy

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:

Growth:
• Profitable growth in the Norwegian restaurant market through acquisitions
• Scaling up the Friends & Brgrs chain to a national level
• Large and profitable urban projects

Profitability:
• Continuation of the cost-saving programme
• Operational efficiency improvement
• Portfolio development
• Implementation of the development programmes in Denmark

Net debt:
• Strong future operating cash flow
• Gradual divestment of Eezy Plc
• Use of treasury shares in acquisitions

OUTLOOK

Profit guidance (as of 22 June 2022):

NoHo Partners estimates that, during the financial period 2022, it will achieve total turnover of approximately MEUR 300 and an EBIT margin of over 8 % in the restaurant business.

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. The company aims for the ratio of net debt to operational EBITDA, adjusted for IFRS 16 lease liability, to be under 3 and for dividends to be paid during the strategy period 2022–2024.

Previous profit guidance (as of 10 May 2022):

NoHo Partners estimates that, during the financial period 2022, it will achieve total turnover of approximately MEUR 300 and an EBIT margin of approximately 7 % in the restaurant business.

The Group aims to achieve turnover of approximately MEUR 400 and an EBIT margin of approximately 10 % during 2024. The company aims for the ratio of net debt to operational EBITDA, adjusted for IFRS 16 lease liability, to be under 3 and for dividends to be paid during the strategy period 2022–2024. The Group will update the estimate for the next financial period on an annual basis in conjunction with the publication of the financial statements release. The company will also provide monthly reports on the development of its business during the second quarter of 2022.

Strategy briefing 11 June 2021 web-cast here (in Finnish). Presentation material here (in English).

Vision

The vision is to be the leading restaurant company in Northern Europe.

Values

Our operations and decisions are steered by our entrepreneurship, people, quality, profitability and responsibility.

The roots of NoHo Partners extend all the way back to 1990. Read our history here!