Bankruptcies of food service businesses (R12) are double the normal level. Considering this, Noho’s EBIT level is incredibly strong.
One could say that the market is constantly recovering as competition decreases, and Noho emerges from this as a relative winner.
However, it’s good to note that it’s always easy to establish more restaurants. At least in this situation, there won’t be any years-long undercapacity situation.
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I’m straying a bit, but it does have some impact if one wants to own NoHo beyond a single government term. Even if the current government isn’t a fan of Keynesian stimulus policies, in democracies, people tend to outsource making changes to representative government, where the aim is to move from thesis to synthesis in the spirit of Hegel with a strong antithesis. As confrontations escalate, it creates both a need for the current administration to be something other than what people are angry about, and low-hanging fruit for challengers to simply promise to be different from the current one.
In one way or another, people ultimately want things to be nicer, regardless of whether it’s about getting under freezing temperatures. I won’t continue further so it doesn’t go into the political realm, but if one thinks that conditions here will never improve again, that’s quite a strong assumption, and then one is probably not very interested in NoHo anyway.
Well, this is how I had outlined it, albeit a bit more negatively. At this share price, it’s a complete no-brainer. However, this is unrealized profit until it materializes.
I agree completely. Finnish politics, regardless of the governments, is very similar, so in my opinion, it’s pointless to consider it from NoHo’s perspective; cycles come and go, and with luck, good policies and support for growth will emerge at some point.
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@henrielo has done a good analysis of Noho. 
NoHo Partners stands out as an investment target because it is both a growth company and a good dividend stock at the same time. Although the Finnish business did not grow in the second quarter, it is growing overall when the impact of exceptional weather is eliminated.
“After the review period in July, the market has already shown signs of recovery and consumers have been very active when the sun has been shining,” Jarno Suominen stated in the earnings release. The holiday season also activates consumers regardless of the weather.
Note.
IR Window is a channel for SalkunRakentaja’s and Sijoittaja.fi’s corporate partners for background and analytical articles, as well as other interesting investor information. The article is part of a commercial collaboration with the company. The article does not contain investment recommendations.
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Message merged into thread: I just bought/sold (Part 7)
Not big news in itself, but an example of how NoHo updates nightclubs. The Rauma nightclub Domino will be transformed into a billiard restaurant Galaxie Center, which has locations in Turku, Tampere, and Seinäjoki. One reason for the change is the high prices of artists.
(paywall):
According to Restaurant Manager Antti Laine, there is nothing dramatic about the change in the operating model.
“Everything has its time. As elsewhere in Finland, the trends in the nightclub world in Rauma have also been declining for a longer time. Artists’ prices have skyrocketed, and therefore risk factors have become significant. Rauma is not yet at a critical stage, but we want to make changes to the restaurant’s operations well in advance.”
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Nordea card data released.
Finnish consumers were enthusiastic about enjoying July’s patio weather, and restaurant
card payments saw a pleasant increase both monthly and annually.
- 5% nominal growth and good real growth for the first time since November 2024
Noho has been declining every day for about a month now, perhaps it will turn around..
https://corporate.nordea.com/api/research/attachment/191795
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A promising bar after weaker months and good weather in August provide excellent opportunities to continue on the same track!
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I believe that this positive card development will be directly reflected in Q3.
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Hey, I’ve really just jumped on board with Noho. I’m wondering about that BBS case, that Noho owns about 50% of the business and it was talked about here as being worth about 5-8€ per share. So I’m asking if Noho has discussed selling the BBS operation, or if this has just been speculation that the impact would be around 5-8€ if sold?
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NoHo and Intera Partners, i.e., a private equity investor, are involved in BBS. Some kind of sale is going to happen, because the general purpose of a private equity investor is to get involved and then exit at the point they deem most favorable. NoHo has not directly stated its strategy, but fundamentally, NoHo will also exit this over time. Of course, depending on how the company develops, there are different options. Will the company be sold to a new private equity investor, listed on the stock exchange, or sold to someone, e.g., Case Kotipizza.
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NoHo then decided to send an invitation by traditional mail to an exclusive event for shareholders (a restaurant evening with a 60 euro deductible, top chefs, speakers including Heikkilä&Vilen, and surprises…) for which registration had already started on August 15th. Now that Posti delivered the invitations on August 19th, there were no spots left. The age limit for the event was 18 years, but the invitation was also sent to significantly underage individuals.
Good idea, but the execution fell short.
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Same here. It’s great that something like this is being organized, but it left a bad taste when the event was already full by the time the letter arrived in the mail.
The post office is probably more to blame for this than the company.
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I received the letter yesterday, and I still made it in. I had a feeling that the event might fill up quite quickly if invitations were sent to thousands of shareholders, and the restaurant only holds perhaps a couple of hundred customers.
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The implementation might also have been contrary to the Companies Act. Not all co-owners of the company have received an invitation yet, says Juurikki’s friend.
The Companies Act requires that shareholders be treated equally, regardless of the amount of ownership, place of residence, or hair color.
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Kesko also has its Owner’s K Plus, which requires ownership of 100 shares, and those who own over 100 shares at Viking Line get to travel for free. There was an article about this last week in Kauppalehti.
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This is a bit off-topic, but in addition to >100 shares, it also requires over 3000 euros in Plussa purchases per year. And regarding NoHo, same situation here, the invitation letter still hasn’t arrived 
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I received an invitation letter, but the event was already full. It will still turn out well.
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Greetings! 
The popularity of NoHo Partners’ first-ever Insider Dinner surprised even us, and the event was fully booked in record time.
Every shareholder is equally valuable to us, and invitations were sent to everyone at the same time. Unfortunately, the time we allocated for postal delivery was not sufficient in this situation, which meant that some of our shareholders received their invitations considerably later than others.
An option to join a waiting list has been added to the registration page, in case places for the dinner become available. We can also already promise at this stage that similar Insider events will be organized in the future. 
We hope this becomes a pleasant tradition that unites our shareholders! We will learn from this first round and develop the invitation process to be smoother in the future.
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Thank you for coming to this Forum to share this information. I got an idea that these occasions could be used, for example, as taste tests. Menus need to be constantly updated, and you would get the shareholders’ opinions,
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