This release is a summary of NoHo Partner's Interim Report for 1 January-
JANUARY-
- Turnover increased by 23.1% and was MEUR 93.5 (75.9).
- Operational EBITDA increased by 12.9% to MEUR 9.1 (8.1).
- EBIT increased by 15.7% and was MEUR 6.9 (5.9).
- EBIT margin was 7.3% (7.8%)
-
The result for the period decreased by 103.2% and was MEUR -0.1 (2.4). The result adjusted by entries related to
Eezy Plc shares was MEUR 1.2 (1.8) -
Earnings per share decreased by 129.9% and were
EUR -0.03 (0.09). Earnings per share adjusted by entries related toEezy Plc shares wasEUR 0.03 (0.06).
Unless otherwise stated, figures in parentheses refer to the corresponding period last year.
MEUR | Q1 2024 | Q1 2023 | Change, % | Q1-Q4 2023 |
|
Turnover | 93.5 | 75.9 | 23.1 | 372.4 |
|
Operational EBITDA | 9.1 | 8.1 | 12.9 | 44.7 |
|
EBIT | 6.9 | 5.9 | 15.7 | 35.9 |
|
EBIT, % | 7.3 | 7.8 |
| 9.7 | * |
Result of the financial period | -0.1 | 2.4 | -103.2 | 10.4 |
|
Earnings per share for the review period attributable to the owners of the company, EUR | -0.03 | 0.09 | -129.9 | 0.38 |
|
Earnings per share adjusted by entries related to | 0.03 | 0.06 | -47.4 | 0.73 |
|
Interest-bearing net liabilities excluding IFRS 16 impact | 126.9 | 117.6 | 7.9 | 134.6 |
|
Gearing ratio excluding IFRS 16 impact, % | 110.1 | 131.4 |
| 116.2 |
|
Ratio of net debt to operational EBITDA excluding IFRS 16 impact | 2.8 | 2.4 |
| 3.0 |
|
Adjusted equity ratio, % | 30.3 | 29.5 |
| 29.7 |
|
Material margin, % | 74.3 | 75.1 |
| 75.2 |
|
Personnel expenses, % | 33.0 | 33.2 |
| 32.5 |
|
*Comparable EBIT margin for the financial period ending
FUTURE OUTLOOK
Profit guidance as of
The company will update its long-term strategic and financial targets for the next strategy cycle 2025-2027 and publish them in the Capital Markets Day that will be held on
CEO REVIEW
We achieved the 7.3 % EBIT margin in the traditionally weakest quarter, which I consider to be a strong performance in the current market environment. It demonstrates our sustainable business model and the ability of the organisation to adapt to changes in the operating environment. Our international business had a strong EBIT margin of more than 8 %, and profitability in
The profitable growth of Swiss Holy Cow! burger chain continued during the reporting period and was at an excellent level, while
Net debt continued to decline towards our target ratio in the current interest rate environment meaning 2.5 to operational EBITDA. In accordance with the resolution of the Annual General Meeting held in
We expect demand to continue to fluctuate also in the second quarter. However, our operating model is very flexible and we expect profitable growth to continue even in a weaker economic cycle. Interest rates have a direct impact on households' purchasing power. Possible interest rate cuts will boost demand in the second half of the year.
We will achieve our targets for the previous strategy period ahead of schedule during this year. We will publish the targets for the strategy period lasting until 2027 at the Capital Markets Day to be held on 22 May in
TURNOVER AND INCOME
In January-
The company was able to balance the effects of inflation on its business through centralised purchasing agreements and price increases, and the general rise in prices did not significantly affect the material margin. With the effective operational control and revenue growth, personnel costs have remained at a competitive level.
Finnish operations
MEUR | Q1 2024 | Q1 2023 | Q1-Q4 2023 |
Turnover | 65.7 | 61.5 | 292.6 |
Operational EBITDA | 5.7 | 6.5 | 35.6 |
EBIT | 4.5 | 5.1 | 30.7 |
EBIT, % | 6.9 | 8.3 | 10.5 |
Material margin, % | 75.5 | 74.7 | 75.5 |
Personnel expenses, % | 33.5 | 33.1 | 32.7 |
In January-
International business
MEUR | Q1 2024 | Q1 2023 | Q1-Q4 2023 |
Turnover | 27.8 | 14.4 | 79.7 |
Operational EBITDA | 3.4 | 1.6 | 9.1 |
EBIT | 2.3 | 0.8 | 5.3 |
EBIT, % | 8.5 | 5.6 | 6.6 |
Material margin, % | 71.5 | 76.5 | 73.9 |
Personnel expenses, % | 31.7 | 33.8 | 31.7 |
In January-
BRIEFING FOR THE MEDIA, ANALYSTS AND INVESTORS
A briefing for the media, analysts and investors will be organized today
The briefing can be followed as a live webcast at https://noho.videosync.fi/q1-2024. During the presentation, the questions can be placed through the webcast chat function. The briefing will be held in Finnish and the recording of the webcast shall be available on the company's website later on the same day.
Additional information
Aku Vikström, CEO, aku.vikstrom@noho.fi (Executive assistant Niina Kilpeläinen, tel. +358 50 413 8158)
Jarno Vilponen, CFO, tel. +358 40 721 9376
The Group companies include some 300 restaurants in
https://news.cision.com/noho-partners-oyj/r/noho-partners-plc-s-interim-report-1-january-31-march-2024--profitability-endures-even-in-slight-hea,c3974398
https://mb.cision.com/Main/22256/3974398/2781610.pdf
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