Q1-Q3 Interim Report 2026 review by Jarno Suominen

Strong development continued in the third quarter. The Group’s turnover increased by 8% and the EBIT margin improved by more than one percentage point to 9.5%. Turnover has increased and profitability has improved in both segments, both in the quarter and cumulatively year-to-date, indicating that the development is on a sustainable basis. The comparable earnings per share increased significantly in January–September and amounted to EUR 0.28.

Finnish operations continued to grow, and the EBIT margin was strong, 10.7%. The growth was boosted by Eppu Normaali’s farewell concerts in Tampere, with NoHo Partners fully responsible for the restaurant services. The three sold-out concerts generated approximately MEUR 3 of turnover. This is an excellent performance and a strong demonstration of the company’s expertise in major events. Confidence in NoHo Partners as an experienced restaurant operator was also reflected when the company was selected to provide restaurant services for the National Museum, which opens next spring, and for the sauna restaurant Vulcan Spa, to be completed in Turku later the same year.

“Strong development continued in the third quarter. The Group’s turnover increased by 8% and the EBIT margin improved by more than one percentage point to 9.5%.”

The turnover of the International business grew and profitability improved year-on-year. In Denmark, the restaurant business developed steadily, and Triple Trading’s growth continued. In Norway, the third quarter is seasonally the quietest of the year, and the focus during the review period was on operational activities. In addition, the lease of a unit that generated significant turnover but was unprofitable was terminated by mutual agreement with the lessor after lengthy negotiations. The solution will reduce the annual turnover in Norway by approximately MEUR 3 going forward, but will improve profitability immediately from the last quarter of the year.

The refinancing carried out during the review period supports the company’s future growth objectives, extends the maturity of financing and increases financial flexibility without a material impact on the company’s finance costs. The arrangement involved a complete renewal of the company’s bank financing, while we also returned to the bond markets. The MEUR 50 senior secured floating rate bond issued was very well received by investors. The strong demand is a testament to confidence in the company’s business and strategy.

NoHo Partners is growing profitably and clearly outperforming the market, even though data describing the general development of the industry shows that consumer activity remains at a modest level. The restaurant portfolio is in good shape, and the reservation situation for the remainder of the year is developing positively. Supported by strong operational expertise, we are well positioned as we head into the busiest season of the year.

3 November 2026

Jarno Suominen

CEO