NoHo Partners Oyj: NoHo Partners continues its profitable growth: turnover for June 2022 was approximately MEUR 28 and operational EBITDA was roughly MEUR 8.3, including MEUR 4.3 of subsidies from the Finnish government

NoHo Partners Plc

INVESTOR NEWS 11 July 2022 at 8:30 a.m.

NoHo Partners continues its profitable growth: turnover for June 2022 was approximately MEUR 28 and operational EBITDA was roughly MEUR 8.3, including MEUR 4.3 of subsidies from the Finnish government

NoHo Partners Plc's turnover in June 2022 was approximately MEUR 28, representing growth of about 48 per cent compared to the corresponding period in 2021 and 13 per cent growth compared to the corresponding period in 2019, before the COVID-19 pandemic. Operational EBITDA was approximately MEUR 8.3, of which the share of operational activities was approximately MEUR 4 (approximately 14% of turnover) and MEUR 4.3 of the retrospective government compensation recorded for June related to the January-February business restrictions in Finland.

NoHo Partners CEO Aku Vikström:

"The strong demand trend continued in June when the turnover grew by 13% compared to 2019, the year before COVID-19. Operational EBITDA generated by the business was also strong at approximately MEUR 4 (approximately 14% of turnover). In the first half of the year, we have succeeded well in recruiting and in combating inflation, but above all, our staff have done an excellent job on several fronts."

The company will discontinue monthly reporting on business development and publish financial information on a quarterly basis in the future.

More information is available from:
Aku Vikström, CEO, NoHo Partners Plc, tel. [phone]
Jarno Suominen, Deputy CEO, NoHo Partners Plc, tel. [phone]

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.