NoHo Partners Plc | Stock Exchange Release | 4 August 2026 at 08:00 EEST
NoHo Partners Plc's Half Year Financial Report 1 January-30 June 2026: A successful quarter across all markets - turnover, profitability, and earnings per share growing
This release is a summary of NoHo Partner's Half Year Financial Report for 1 January-30 June 2026. The complete report is attached to this release and is also available at www.noho.fi/en.
APRIL-JUNE IN BRIEF
- Turnover was MEUR 95.6 (87.6) and increased by 9.2%.
- Operational EBITDA was MEUR 10.7 (9.1) and increased by 17.7%.
- EBIT was MEUR 9.1 (7.4) and increased by 21.9%.
- EBIT margin was 9.5% (8.5%).
- The result for the period (continuing operations) was MEUR 3.9 (2.5) and increased by 54.0%.
- Earnings per share (continuing operations) were EUR 0.13 (0.09) and increased by 50.7%.
- The result for the period (discontinued operation) was MEUR 0.0 (22.4) and decreased by 100.0%.
- The result for the period was MEUR 3.9 (24.9) and decreased by 84.5%.
- Earnings per share were EUR 0.13 (1.15) and decreased by 88.8%.
JANUARY-JUNE IN BRIEF
- Turnover was MEUR 177.3 (164.8) and increased by 7.6%.
- Operational EBITDA was MEUR 17.2 (16.1) and increased by 6.9%.
- EBIT was MEUR 14.0 (12.9) and increased by 8.7%.
- EBIT margin was 7.9% (7.8%).
- The result for the period (continuing operations) was MEUR 4.7 (3.4) and increased by 38.1%.
- Earnings per share (continuing operations) were EUR 0.14 (0.10) and increased by 44.1%.
- The result for the period (discontinued operation) was MEUR 0.0 (23.5) and decreased by 100.0%.
- The result for the period was MEUR 4.7 (26.8) and decreased by 82.7%.
- Earnings per share were EUR 0.14 (1.19) and decreased by 88.0%.
As of 1 April 2025, Better Burger Society has been presented as a discontinued operation. The result of the discontinued operations is presented as a separate line in the income statement.
KEY FIGURES
| MEUR | Q2 2026 | Q2 2025 | Change, % | Q1-Q2 2026 | Q1-Q2 2025 | Change, % | 2025 |
| Turnover | 95.6 | 87.6 | 9.2 | 177.3 | 164.8 | 7.6 | 358.0 |
| Operational EBITDA | 10.7 | 9.1 | 17.7 | 17.2 | 16.1 | 6.9 | 39.5 |
| EBIT | 9.1 | 7.4 | 21.9 | 14.0 | 12.9 | 8.7 | 32.3 |
| EBIT, % | 9.5 | 8.5 | 7.9 | 7.8 | 9.0 | ||
| Gross profit, % | 76.1 | 75.9 | 76.1 | 75.7 | 76.0 | ||
| Personnel expenses, % | 33.9 | 34.1 | 34.3 | 34.1 | 33.5 | ||
| Result for the financial period, continuing operations | 3.9 | 2.5 | 54.0 | 4.7 | 3.4 | 38.1 | 11.9 |
| Result for the financial period, discontinued operation | 0.0 | 22.4 | -100.0 | 0.0 | 23.5 | -100.0 | 23.5 |
| Result for the financial period | 3.9 | 24.9 | -84.5 | 4.7 | 26.8 | -82.7 | 35.4 |
| Earnings per share of continuing operations, EUR | 0.13 | 0.09 | 50.7 | 0.14 | 0.10 | 44.1 | 0.46 |
| Earnings per share for the review period attributable to the owners of the Company, EUR | 0.13 | 1.15 | -88.8 | 0.14 | 1.19 | -88.0 | 1.55 |
| Ratio of net debt to operational EBITDA (excluding IFRS 16 impact) | 2.9 | 3.0 | 3.0 | ||||
| Interest-bearing net liabilities excluding IFRS 16 impact | 117.4 | 123.3 | 118.0 | ||||
| Gearing ratio excluding IFRS 16 impact, % | 94.2 | 103.1 | 92.6 | ||||
| Adjusted equity ratio, % | 32.2 | 31.6 | 33.6 |
FUTURE OUTLOOK
Profit guidance as of 11 February 2026
NoHo Partners estimates that, during the financial year 2026, the Group's profitability will remain at the current good level, and comparable earnings per share will increase.
Financial targets for the strategy period 2025-2027
The Company's long-term guidance is as follows:
In Finnish operations the Group aims to achieve a turnover of approx. MEUR 350 and to maintain the current good level of the EBIT margin. In International business, the target is profitable growth and creation of shareholder value. In the long-term, the Company aims to decrease the ratio of net debt to operational EBITDA, adjusted for IFRS 16 lease liability, to the level of approx. 2 and to distribute annually at least 50% of comparable earnings per share for the financial year as dividends.
CEO REVIEW
The second quarter was strong with growth in all business areas. The Group's turnover increased by nearly 10% and the EBIT margin increased to an excellent level of 9.5%, which is a significant improvement year-on-year. During the first half of the year, earnings per share increased year-on-year to EUR 0.14, which supports the full-year guidance.
Profitable growth continued in the Finnish business, and the EBIT margin increased significantly from the previous year to 9.5%. I am particularly pleased with the growth in entertainment venues after a long time. Sports and entertainment events organised at Nokia Arena during the spring accelerated the growth of event restaurants, and the early summer being sunnier than last year supported the terraces, which are important for the season. During the autumn, the Company will strengthen its foothold in the attractive Rovaniemi area, which is important for tourism, by opening its ninth Stefan's Steakhouse in Finland and a Hook chicken wing restaurant. The openings of Hook restaurants in Tampere, Pori and Oulu have also been confirmed.
The EBIT margin of the international business strengthened to an excellent level of 9.3%. In Norway, the streamlining of the restaurant portfolio and the development of operations have yielded results and the business is once again on a profitable basis with clearly positive EBIT. Structural measures are largely behind us and the focus is being shifted to the operational development of the business. In Denmark, the profitability of the restaurant business recovered as expected, and organic growth continued in both the core business and Triple Trading.
The recovery in consumer purchasing power has remained cautious, although there were some positive signs in the market during the quarter. However, the development of our Company's business makes us well positioned for the rest of the year. The highlights of the late summer include the three sold-out farewell concerts by the band Eppu Normaali in Tampere, with NoHo Partners fully responsible for the restaurant services. The events are expected to bring tens of thousands of visitors to the city and thus provide additional momentum for the third quarter's business.
TURNOVER AND INCOME
In April-June 2026, the Group's turnover increased by 9.2% to MEUR 95.6 (87.6). Operational EBITDA was MEUR 10.7 (9.1) and increased by 17.7%. EBIT was MEUR 9.1 (7.4) with an EBIT margin of 9.5% (8.5%). The result of continuing operations was MEUR 3.9 (2.5), and the result of discontinued operation was MEUR 0.0 (22.4). The result of the Group for April-June was MEUR 3.9 (24.9).
In January-June 2026, the Group's turnover increased by 7.6% to MEUR 177.3 (164.8). Operational EBITDA was MEUR 17.2 (16.1) and increased by 6.9% compared to the corresponding period in the previous year. EBIT was MEUR 14.0 (12.9) with an EBIT margin of 7.9% (7.8%). The result of continuing operations was MEUR 4.7 (3.4), and the result of discontinued operation was MEUR 0.0 (23.5). The result of the Group for January-June was MEUR 4.7 (26.8).
The Company was able to balance the effects of inflation on its business, among other things, through centralised purchasing agreements. With the effective operational control, gross profit and personnel expenses have remained at a competitive level.
Finnish operations
| MEUR | Q2 2026 | Q2 2025 | Q1-Q2 2026 | Q1-Q2 2025 | 2025 |
| Turnover | 67.7 | 63.0 | 127.9 | 121.0 | 264.8 |
| Operational EBITDA | 7.5 | 6.3 | 12.7 | 11.4 | 31.0 |
| EBIT | 6.5 | 5.3 | 10.6 | 9.4 | 26.7 |
| EBIT, % | 9.5 | 8.3 | 8.3 | 7.8 | 10.1 |
| Gross profit, % | 75.9 | 75.8 | 75.8 | 75.4 | 75.7 |
| Personnel expenses, % | 34.0 | 34.4 | 34.1 | 34.1 | 33.2 |
In April-June 2026, turnover increased by 7.4% from the previous year to MEUR 67.7 (63.0). Operational EBITDA was MEUR 7.5 (6.3). EBIT was MEUR 6.5 (5.3) with a 9.5% (8.3%) EBIT margin.
In January-June 2026, turnover increased by 5.7% from the previous year to MEUR 127.9 (121.0). Operational EBITDA was MEUR 12.7 (11.4). EBIT was MEUR 10.6 (9.4) with a 8.3% (7.8%) EBIT margin.
International business
| MEUR | Q2 2026 | Q2 2025 | Q1-Q2 2026 | Q1-Q2 2025 | 2025 |
| Turnover | 27.9 | 24.6 | 49.4 | 43.8 | 93.2 |
| Operational EBITDA | 3.2 | 2.8 | 4.6 | 4.7 | 8.5 |
| EBIT | 2.6 | 2.2 | 3.4 | 3.4 | 5.6 |
| EBIT, % | 9.3 | 8.9 | 6.8 | 7.9 | 6.0 |
| Gross profit, % | 76.7 | 76.3 | 76.9 | 76.7 | 77.1 |
| Personnel expenses, % | 34.0 | 33.0 | 35.0 | 34.1 | 34.3 |
In April-June 2026, turnover increased by 13.5% from the previous year to MEUR 27.9 (24.6). Operational EBITDA was MEUR 3.2 (2.8). EBIT was MEUR 2.6 (2.2) with a 9.3% (8.9%) EBIT margin.
In January-June 2026, turnover increased by 12.8% from the previous year to MEUR 49.4 (43.8). Operational EBITDA was MEUR 4.6 (4.7). EBIT was MEUR 3.4 (3.4) with a 6.8% (7.9%) EBIT margin.
BRIEFING FOR THE ANALYSTS, INVESTORS AND MEDIA
The company will present the results for the reporting period to analysts, investors and media over a webcast today at 10:00 EEST. In the webcast held in Finnish, Noho Partners' CEO Jarno Suominen and CFO Jarno Vilponen will present the company's financial performance and key events during the reporting period as well as the current state of business and the outlook.
The live webcast can be followed at https://noho.events.inderes.com/q2-2026.
During and after the presentation, the questions can be placed through the webcast chat function or by phone. To ask questions by phone, the participant is required to register at https://events.inderes.com/noho/q2-2026/dial-in. After the registration you will receive the phone number and conference ID to access the conference. If you wish to ask a question, please press *5 on your telephone keypad to enter the queue.
The recording of the webcast will be available on the company's website later on the same day.
Additional information
Jarno Suominen, CEO, jarno.suominen@noho.fi (Executive assistant Niina Kilpeläinen, tel. +358 50 413 8158)
Jarno Vilponen, CFO, tel. +358 40 721 9376
Sanna Sandvall, Head of IR & Communications, tel. +358 40 760 0794
NoHo Partners Plc
NoHo Partners Plc is a Finnish group established in 1996, and it specialises in restaurant services being the creative innovator of the Northern European restaurant market. The company was listed in Nasdaq Helsinki in 2013 becoming the first Finnish listed restaurant company, and it has continued to grow strongly throughout its history.
The Group companies include some 300 restaurants in Finland, Denmark and Norway. The well-known restaurant concepts include Elite, Savoy, Teatteri, Sea Horse, Stefan's Steakhouse, Palace, Löyly, Strindberg, Jungle Juice Bar, Campingen and Cock's & Cows. Depending on the season, NoHo Partners employs approx. 2,800 people converted into full-time employees, and in 2025, Group's turnover amounted to approx. MEUR 360. Additionally, NoHo Partners acts as an active investor in Better Burger Society Group. The well-known brands of Better Burger Society, that operates in the growing European premium burger market, are Friends&Brgrs and Holy Cow!. NoHo Partners' vision is to be the leading restaurant operator in Northern Europe. More information is available at noho.fi/en.
