NoHo Partners’ turnover for March 2022 was approximately MEUR 26 and operating cash flow was approximately MEUR 3.5

NoHo Partners Plc

STOCK EXCHANGE RELEASE 13 April 2022 at 8:30

NoHo Partners’ turnover for March 2022 was approximately MEUR 26 and operating cash flow was approximately MEUR 3.5

NoHo Partners Plc’s turnover in March 2022 was approximately MEUR 26, representing growth of approximately 515 per cent compared to the corresponding period in 2021 and approximately 25 per cent compared to the corresponding period in 2019, before the COVID-19 pandemic. Operating cash flow in March 2022 was approximately MEUR 3.5.

NoHo Partners CEO Aku Vikström:

“Customer demand and business recovery continued to be strong in March. Our turnover was approximately MEUR 26 and the operating cash flow generated by this was approximately MEUR 3.5. In March, the turnover was higher than expected, especially in our strategic growth areas in Norway, and the Nokia Arena and Friends & Brgrs openings. For April, we expect our turnover to continue to grow to approximately MEUR 28 and our operating cash flow to exceed MEUR 4. In the second quarter of the year, we also expect the corporate sales market to gradually recover.”

The Group will report on the development of its business in April 2022 in connection with its January–March 2022 interim report. The company will provide monthly reports on the development of its business under these exceptional circumstances until further notice. The company will publish information on the development of its business on a monthly basis as investor news in the future.

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 specialising in restaurant services which was established in 1996. The company, which was listed on NASDAQ Helsinki in 2013 and which 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 a turnover of approximately MEUR 400 by the end of 2024. The company’s vision is to be the leading restaurant company in Northern Europe.