NoHo Partners achieved a record-breaking result in May – operational EBITDA exceeded MEUR 5.5
NoHo Partners Plc
INVESTOR NEWS 14 June 2022 at 11:15 a.m.
NoHo Partners achieved a record-breaking result in May – operational EBITDA exceeded MEUR 5.5
NoHo Partners Plc’s operational EBITDA for May 2022 exceeded MEUR 5.5 (approx. 17 % of turnover), while turnover exceeded MEUR 33. Turnover grew by 208 per cent compared to the corresponding period in 2021 and by 52 per cent compared to the corresponding period in 2019, before the COVID-19 pandemic.
NoHo Partners CEO Aku Vikström:
“Our result for May is excellent from every perspective. Nokia Arena and the Ice Hockey World Championships held in Tampere had an obvious impact on our result by contributing approximately MEUR 5.7 to our turnover for the period, but the EBITDA of our normal business operations was also excellent at approximately MEUR 4.5 (approx. 16 % of turnover). The positive development of our profitability reflects the determined efforts of our team during the COVID-19 pandemic and the current high demand for restaurant services. May was our third consecutive month of recording an EBITDA of around 15 %, which means we are making swift progress towards our profitability targets.
For June, we expect turnover to amount to approximately MEUR 27–30 and operational EBITDA to be approximately MEUR 3.5–4.5. Weather is always a significant factor in business forecasts for the month of June, as restaurants’ outdoor terrace sales can have a large relative effect on performance. On the whole, I expect to see robust performance for Q2 and, thanks to the strong potential of our entertainment venues, the outlook for the rest of the summer season is fairly positive.”
The development of business in June 2022 will be reported by the company during week 28. After that, the company will discontinue monthly reporting on business development and publish financial information on a quarterly basis.
More information is available from:
Aku Vikström, CEO, NoHo Partners Plc, tel. +358 44 235 7817
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, Campingen and Cock’s & Cows. Depending on the season, the Group employs approximately 2,100 people converted into full-time employees. The Group aims to achieve turnover of MEUR 400 by the end of 2024. The company’s vision is to be the leading restaurant company in Northern Europe.