contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  createdAt
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
    forum {
      threadUrl
    }
    defaultInstrument {
      symbol
      id
    }
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  createdAt
  changedAt
  isPremium
  authors {
    __typename
    name
    pageUrl
    id
  }
  companies {
    name
    pageUrl
    id
  }
  tags {
    name
    id
  }
  ... on Video {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
  ... on Webcast {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        threadUrl
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        symbol
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
      researchContent {
        title
        lang
        pdfUrl
        relatedContent {
          __typename
          ...PublishingDetails
          ...Reactions
          id
        }
        content {
          title
          lang
          htmlBody
          publishedAt
          createdAt
          changedAt
          isOutdated
          isPremium
        }
      }
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


noho-partners-back-on-solid-ground-nordea

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

changedAt

NoHo Partners is a Finnish group specialized in services within the restaurant industry. The group operates a number of restaurants in Finland, Denmark, Norway and other parts of Europe. The company's restaurant concepts include, among others. Elit, Savoy, Teatteri, Sea Horse, Stefans Steakhouse, Palace, Löyly, Hangö Sushi, Friends &amp; Brgrs Cock's &amp; Cows and Holy Cow! . The company was founded in 1996.

Nordea adjusts its fair value range in its latest report from €9.0-11.6 → €10.1-12.8 NoHo Partners delivered a robust Q2 performance as the Norwegian operations normalised and the Finnish business rebounded, while Denmark continued its strong, broad-based growth. We believe the company has moved past its operational challenges and expect robust profitability levels going forward, supporting the 2026 guidance for the EBIT margin to remain at its current good level. With the Finnish market recovery showing positive signals, and new openings and M&A offering upside potential, we view the near-term outlook as back on solid ground. With our slightly higher estimates, we derive a higher fair value range of EUR 10.1-12.8 (9.0-11.6) by equally weighing our DCF- and SOTP-based valuation methods Nordea is even more cautious than Sauli regarding Q3, so perhaps my own imaginings, which I painted in the previous message, were too rosy.                   research.nordea.com              Company - Nordea Equity Research                              OP raises its target price ->€9.4 and reiterates Buy recommendation. NoHo’s Q2 went excellently in several areas, and the success of the turnaround operations in Norway, in particular, as well as the return of revenue to growth, are extremely welcome developments. Despite some positive signs, the outlook regarding the timing of the strengthening of demand remains hazy. We believe that the conditions for growth exist for the coming years even in the current circumstances, which, together with the potential offered by the recovery of demand, maintains our positive view of the stock. Our target price rises to 9.40 euros (prev. 9.20), at which we reiterate our BUY recommendation. The full report can be found here:                   op.fi              Osakeanalyysit kotimaisista ja ulkomaisista pörssiyhtiöistä    Saat lisämaksutta osakeanalyyseja yli 70 kotimaisesta yhtiöstä ja 100 eri ulkomaisesta yhtiöstä. Tutustu nyt!                             DNB Carnegie has adjusted its target price accordingly. Unfortunately, there is no access to the report:

Fresh report on NoHo from Sauli and Arttu:                   Inderes              NoHo Partners Q2'26: Paluu EPS-kasvuun - Inderes    Näkemyksemme mukaan yhtiön tuloskasvunäkymä on hyvä, ja sille löytyy useita uskottavia ajureita niin lyhyellä kuin keskipitkällä jänteellä.                              Good analysis once again, but I still consider the forecasts for Q3 and the rest of the year cautious, given that there are several growth drivers, especially in Finland:  Tampere’s busy event-filled August and NoHo’s share of the Eppu Normaali concerts A recovery in consumer confidence A weak comparison period Good momentum across all business areas Synergies from Jungle Juice Bar  I personally see that there could even be room for a positive profit warning during the autumn; while the current guidance is for comparable EPS growth, we might end up with significant comparable EPS growth after all. Profitability should also remain at least at last year’s good level, if not approach 10% driven by the second half of the year. I don’t know, of course, what the thresholds are for when they deem it necessary to adjust the guidance. Admittedly, though, it is often the case that when all the pistons in NoHo’s profit engine are firing, one of them soon starts to misfire for a while  That seems to be more of a rule than an exception in this industry.

The growth of BBS during the H1 period has also been good. It remains to be seen how long they will let this grow before selling it off. It would be interesting to hear some thoughts on whether we are talking about a couple of years, 5 years, or even ten years. They have mentioned sometime earlier that, at some point, it is apparently their intention to divest from BBS.

I think the reason is that expanding into a new country might be too big a risk due to the product and regional taste preferences. Or perhaps the situation is too comparable to starting a new chain from scratch.  I’m no expert on Norway or Denmark, but I could imagine that F&B wouldn’t necessarily work there. Germany/Austria, on the other hand, might be somewhat more similar to Switzerland, but there could still be differences. We went to Switzerland for our summer vacation, and my only “must-see” attraction was Holy Cow  The burgers were alright, but for a Finnish palate, F&B beats them hands down – we had just visited Friends a week or two earlier, so it was a good benchmark. The price level in Switzerland did make me laugh; I recall a meal costing around €28, though at least it included a beer. You can get a meal at Friends for about €15–17.

Based on the interviews, the webcast, and Suominen’s expressions, BBS’s expansion into a new country was perhaps closer in the spring than it is now. It seems the negotiations have hit a setback.

Here is Jarno from NoHo’s interview from the Helsinki office. Includes one tennis easter egg    00:00 How it went 00:44 Organic growth 02:00 Finnish economy 03:10 Norway 04:22 Synergies from acquisitions 05:20 M&A 06:50 BBS 08:06 Outlook

CEO Suominen was also interviewed on Kauppalehti’s Talousaamu:                   Tärkeimmät talousuutiset | Kauppalehti – 4 Aug 26              Helsingin pörssin ravintolajätti sovittelee ostohousuja, mutta ei yhdessä maassa    Noho Partnersin toimitusjohtaja paljasti, millaisia ostokohteita yhtiö katselee.

NoHo Partners

NoHo Partners delivered a robust Q2 performance as the Norwegian operations normalised and the Finnish business rebounded, while Denmark continued its strong, broad-based growth. We believe ...

NoHo Partners delivered a robust Q2 performance as the Norwegian operations normalised and the Finnish business rebounded, while Denmark continued its strong, broad-based growth. We believe the company has moved past its operational challenges and expect robust profitability levels going forward, supporting the 2026 guidance for the EBIT margin to remain at its current good level. With the Finnish market recovery showing positive signals, and new openings and M&amp;A offering upside potential, we view the near-term outlook as back on solid ground. With our slightly higher estimates, we derive a higher fair value range of EUR 10.1-12.8 (9.0-11.6) by equally weighing our DCF- and SOTP-based valuation methods.

NoHo Partners: Back on solid ground - Nordea

NoHo Partners: Back on solid ground - Nordea