NoHo Partners Plc
INVESTOR NEWS 3 April 2020 at 18:00
NoHo Partners publishes an investor Q&A page concerning the impacts of the coronavirus on the company’s business
NoHo Partners announced on 26 March 2020 that the coronavirus pandemic has had a serious impact on the company’s market and restaurant industry and that the sudden change in the market has also considerably affected the company’s operations.
Once the impact of the COVID-19 crisis became apparent, the company reacted immediately by starting adjustment measures and preparing for the changed market conditions. The company informed about negotiations in accordance with the Act on Cooperation within Undertakings on 13 March 2020 and about the rapid progress of the negotiations on 18 March 2020. Furthermore, the company announced on 26 March 2020 that it was engaged in funding negotiations with its current funders for the duration of the state of emergency. The completion of the funding negotiations and agreement on a funding package of EUR 34 million were announced on 3 April 2020.
The company aims to respond to the situation in which investors’ need for information is emphasised as much as possible by ensuring up to date and open investor communications.
“Our industry and company have been hit hard by the coronavirus. We will be communicating in real time and transparently to the market throughout the spring, and in order to serve investors in the best way possible, we have also decided to publish the most frequent questions and answers on our website,” says Aku Vikström, CEO of NoHo Partners.
The company will publish the most recent information about the impacts of the coronavirus on its business and its measures to respond to them centrally on its Q&A pages. The pages will be updated continuously, and the latest information will be included in the answers.
The Q&A page is available at: https://www.noho.fi/en/investors/investor-qa
More information is available from:
Aku Vikström, CEO, NoHo Partners Plc, tel. +358 50 524 9445
Jarno Suominen, Deputy CEO, NoHo Partners Plc, tel. +358 40 721 5655
NoHo Partners Plc is a Finnish group established in 1996, specialising in restaurant services. The company, which was listed on NASDAQ Helsinki in 2013 and 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. Well-known restaurant concepts of the company include Elite, Savoy, Teatteri, Yes Yes Yes, Stefan’s Steakhouse, Palace, Löyly, Hanko Sushi and Cock’s & Cows. In 2019, NoHo Partners Plc’s turnover was MEUR 272.8 and EBIT MEUR 30.6. Depending on the season, the Group employs approximately 2,100 people converted into full-time workers.
NoHo Partners corporate website: www.noho.fi
NoHo Partners consumer website: www.ravintola.fi