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NoHo Partners Plc
STOCK EXCHANGE RELEASE 7 October 2021 at 8:30 a.m.
NoHo Partners’ turnover for September 2021 was approximately MEUR 18 and operating cash flow was positive by over MEUR 1
NoHo Partners Plc’s turnover in September 2021 was approximately MEUR 18, representing growth of about 20 per cent compared to the corresponding period in 2020 and amounting to roughly 80 per cent of the turnover in the corresponding period in 2019, before the COVID-19 pandemic. Operating cash flow in September exceeded MEUR 1.0. In addition, approximately MEUR 0.5 in capital gains from the sale of Eezy Plc shares was recognised in September.
NoHo Partners CEO Aku Vikström:
“Our turnover in September was approximately MEUR 18, exceeding our turnover forecast of MEUR 14–16 by a clear margin. This was due to the gradual lifting of restrictions and the resulting customer demand, which was even higher than expected, especially in the entertainment venue segment and the Norwegian market. Operating cash flow totalled approximately MEUR 1.5, with business operations generating cash flow of over MEUR 1 and capital gains from the sale of Eezy Plc shares amounting to roughly MEUR 0.5.
The outlook for the rest of the year has brightened as restaurant restrictions have been almost entirely eliminated – with the exception of Helsinki – and customer demand is recovering. In October, we expect our turnover to almost normalise and return the level seen in 2019, amounting to approximately MEUR 20–22. Consequently, we expect our operating cash flow for October to exceed MEUR 2. The booking situation for the high season at the end of the year looks promising as well. Our booking rate for November–December is already about 60 per cent of the level seen in 2019, which can be regarded as a good sign at this time of the year and considering the circumstances.”
The Group will report on the development of its business in October 2021 in its interim report for January–September 2021, to be published on 9 November 2021.
More information is 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
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’s vision is to be the leading restaurant company in Northern Europe. www.noho.fi