Stock exchange releases NoHo Partners’ turnover for November 2021 was over MEUR 24 and operating cash flow was over MEUR 3 NoHo Partners Plc STOCK EXCHANGE RELEASE 13 December 2021 at 16:05 NoHo Partners’ turnover for November 2021 was over MEUR 24 and operating cash flow was over MEUR 3 NoHo Partners Plc’s turnover in November 2021 was approximately MEUR 24 representing growth of about 140 per cent compared to the corresponding period in 2020 and amounting to roughly 90 per cent of the turnover in the corresponding period in 2019 before the COVID-19 pandemic. Operating cash flow was over MEUR 3 in November 2021. NoHo Partners CEO Aku Vikström:“November turnover and cash flow were realized as estimated. November sales were boosted by good consumer demand in all business areas and markets. Our business is now generating a steady cash flow enabling us to implement our loan repayment program as planned.For December we estimate turnover of approximately MEUR 23 and operating cash flow of approximately MEUR 3. Consumer demand continues to be at a good level in Finland and Denmark as consumers have learned to use the COVID-19 passport. In Norway where the COVID-19 passport is not in use the tightening of restaurant restrictions will cut Norway’s normal turnover by nearly half. However we estimate that the cash flow effect will be lower than this assuming that the Norwegian government's compensation model continues as before.As a whole we predict that we will close this year in line with our market guidance we issued on 9 November 2021 despite the fast changing market environment.” The company will report the business development in December and in the entire financial period 2021 in connection with the publication of the financial statements release for 2021 on 17 February 2022. The company will also update the guidance for 2022 in connection with the financial statements bulletin 2021.More information available from: Aku Vikström CEO NoHo Partners Plc tel. +358 44 011 1989 Jarno Suominen Deputy CEO NoHo Partners Plc tel. +358 40 721 5655 Distribution: Nasdaq Helsinki Major media www.noho.fi/en NoHo Partners Plc is a Finnish group established in 1996 specialising in restaurant services. The company which was listed on NASDAQ Helsinki in 2013 and became the first Finnish listed restaurant company has continued to grow strongly throughout its history. The Group companies include some 250 restaurants in Finland Denmark and Norway. The well-known restaurant concepts of the company include Elite Savoy Teatteri Stefan’s Steakhouse Palace Löyly Hanko Sushi Friends & Brgrs and Cock’s & Cows. Depending on the season the Group employs approximately 2 100 people converted into full-time employees. The company aims to achieve turnover of approximately MEUR 400 by the end of 2024. The company’s vision is to be the leading restaurant company in Northern Europe.
