CEO’s Review Turnover grew, but profitability declined slightly in the seasonally smallest quarter. Investors NoHo Partners as an investment CEO’s Review Investors Investors NoHo Partners as an investment Strategy Operating model Market environment CEO’s Review Profit guidanceReports and Presentations Other MaterialsShare information Major shareholders Management ownership Dividend Flagging notifications Consensus estimates Analysts Managers’ transactionsFinancial information Long-term financial targets Risks and uncertainties IFRS 16 liabilities Calculation FormulasCorporate Governance Annual General Meeting Board of Directors Board Committees Board authorisations CEO Executive Team Remuneration Risk Management Insider Administration Audit Articles of Association Code of ConductInvestor calendar and events Capital Markets Day 2024Investor services Disclosure Policy Q1 2026 Interim Report review by Jarno Suominen 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. “We achieved a 6% EBIT margin and the Group’s turnover grew in the seasonally weakest quarter.” 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. 5 May 2026 Jarno Suominen CEO Interim report Q1 2026 Inderes Q1-results interview (in finnish)
