NOHONasdaq HelsinkiRestaurantsIFRS · EUR

NoHo Partners Oyj

NoHo Partners Oyj, founded in 1996, is a Finnish company specializing in the restaurant industry, known for its innovative approach to the Nordic hospitality market. The company operates approximately 300 diverse restaurants across Finland, Denmark, Norway, and Switzerland, offering a range of dining experiences from fast food to fine dining. NoHo Partners was the first Finnish restaurant company to be listed on Nasdaq Helsinki in 2013 and has consistently grown its presence in the Nordic region. The company aims to be the leading restaurant operator in Northern Europe, leveraging its unique partner model and strong brand portfolio.

Revenue358m EUR
−16.2 %y/y
Operating profit (EBIT)32.3m EUR
−22.2 %y/y
EBIT margin9.0%
−0.7 ppy/y
Net income35.4m EUR
+137.6 %y/y
Free cash flow65.9m EUR
−12.0 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

-1000100200300400500m EUR2021: 186 m EUR2021: EBIT -0.90 m EUR20212022: 313 m EUR2022: EBIT 32 m EUR20222023: 372 m EUR2023: EBIT 36 m EUR20232024: 427 m EUR2024: EBIT 42 m EUR20242025: 358 m EUR2025: EBIT 32 m EUR2025TTM 2026: EBIT 30 m EURTTM30
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year

Business

Share of revenue
Restaurant Services70 %

Includes a variety of dining experiences from fast food to fine dining.

Event Venues15 %

Spaces for meetings, seminars, and private events.

Digital Experiences10 %

Enhanced dining experiences through digitalization.

Investments5 %

Stake in premium burger brands like Better Burger Society.

Customers

NoHo Partners serves a wide range of customers, from local diners seeking everyday meals to international tourists looking for unique dining experiences. The company's diverse portfolio caters to various segments, including fast food enthusiasts, fine dining patrons, and event organizers. Its strong brand recognition and strategic locations in high-traffic areas attract both individual and corporate clients. The partner model ensures that local tastes and preferences are met, enhancing customer loyalty and satisfaction.

Local Diners

Frequent everyday meals at diverse restaurants.

Tourists

Unique dining experiences in popular locations.

Event Organizers

Versatile venues for events and seminars.

Corporate Clients

Business meetings and events in strategic locations.

Strategy

NoHo Partners focuses on strengthening its core business in Finland while expanding internationally through strategic acquisitions and partnerships. The company aims to enhance its restaurant portfolio by acquiring complementary businesses like Jungle Juice Bar and Halifax Burgers. Digitalization is a key strategic priority, enabling more comprehensive dining experiences. The partner model remains central to NoHo's strategy, fostering entrepreneurship and local market expertise.

Core Business StrengtheningShort term

To consolidate market position in Finland.

International ExpansionMedium term

To grow market presence in Northern Europe.

DigitalizationLong term

To offer enhanced dining experiences.

Geography

NoHo Partners operates primarily in Finland, Denmark, Norway, and Switzerland, with a strong focus on expanding its presence in Northern Europe. The company's restaurants are strategically located in high-traffic areas to maximize customer reach. Its international operations are managed by country-specific leaders who tailor offerings to local markets. The company's growth strategy includes expanding its footprint in these regions through both organic growth and acquisitions.

Risks

NoHo Partners faces several risks, including geopolitical uncertainties that could affect market conditions. Economic fluctuations and changes in consumer demand pose challenges to sales and profitability. The company is also exposed to risks related to rising costs, such as raw material prices and labor costs. Additionally, the integration of acquired businesses presents operational risks. To mitigate these, NoHo Partners employs strategic sourcing and pricing strategies, along with robust risk management practices.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Geopolitical Uncertainty1Economic Fluctuations2Cost Increases3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Geopolitical UncertaintyImpact: HighLikelihood: Low

    Potential impact on market conditions and demand.

  2. Economic FluctuationsImpact: MediumLikelihood: Medium

    Affects consumer spending and company profitability.

  3. Cost IncreasesImpact: MediumLikelihood: Low

    Rising raw material and labor costs affect margins.

  4. Business IntegrationImpact: Medium

    Challenges in integrating new acquisitions.

Accounting

Judgemental items
Revenue Recognition

Timing affects reported financial results.

Impact: high

Lease Accounting (IFRS 16)

Significant impact on balance sheet.

Impact: medium

Goodwill Impairment

Risk from acquisition strategy.

Impact: medium

Seasonal Fluctuations

Affects revenue comparability.

Impact: medium

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026