@Sanna_Sandvall is on the forum, so I wonder if she can comment on whether it’s business as usual, or if we should be worried? These don’t exactly feel like particularly flattering credentials.
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These never look good, but in my own work, for various reasons, I monitor different databases concerning companies. It is unfortunately common that even large protests are raised against giants like Konecranes, Metso, Stora, and Valmet. It’s difficult for an outsider to say, because the reason could be a single technical error or a lack of notification might lead an overdue invoice to a protest. I just want to remind that these don’t automatically mean bigger challenges. Of course, it’s good to pay attention to these.
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I’ll also add that this is partly a strategy of big companies. Of course, they don’t want it to go so far as to raise drafts, but big companies want to extend payment terms as long as they possibly can.
Especially in companies where the billers are often smaller operators and the counterparty (NoHo) is one of the biggest companies in the market, such situations arise. If NoHo’s purchases are, for example, over 50% of your turnover, then there’s not much you can do about it. Some raise drafts, some don’t.
Of course, it’s worth keeping an eye on these, but it could very well be about maximizing working capital.
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NoHo Partners’ CEO Jarno Suominen was at the Sijoittaja 2025 event talking about his company as an investment. 
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Greetings! 
There has been some discussion here in recent days regarding matters related to invoices.
The NoHo Partners Group receives over 20,000 invoices per month from several thousand different goods and service providers. When talking about such volumes, it is possible that unfortunate processing delays may occur with invoices. We have agreed payment terms and processes in place to ensure invoices can be reviewed, approved, and paid within the agreed payment terms. Occasionally, we have to make complaints to suppliers regarding the content or format of invoices. It is of utmost importance that all suppliers adhere to the Group’s invoicing guidelines, required content information, and send invoices electronically as e-invoices, to ensure efficient and timely processing of invoices.
Occasionally, some disputed invoices may be turned into bills of exchange by the counterparty, even if the dispute is ongoing. The cases raised on the forum do not reflect the Group’s financial situation.
Have a nice weekend everyone!
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Referring to Sanna’s post - Noho certainly still has many small goods and service suppliers, and in my experience, these might have challenges following the invoicing instructions of large corporations, which can be quite specific. I am therefore not at all surprised that from such a mass, goods sometimes end up as a bill of exchange (tratta) simply because, for example, the purchase order/other invoicing information at Noho and the supplier’s understanding of that purchase order/invoicing information have not aligned.
Of course, one would prefer to see a bit more cash, but my gut feeling regarding Noho is that these accumulate more for Noho than for many other companies. As there are a tremendous number of companies under its umbrella.
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NoHo has promised the expansion of new Hook restaurants to new localities. The latest opening was in Kuopio (paywall):
The opening night was at least lively: “The 110-seat restaurant filled to the last spot as KalPa’s away game approached.”
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Friends & Brgrs continues its growth. A restaurant is opening in Ideapark, Lempäälä, at the end of February:
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Restaurant spending quite stable in recent Nordea card data:
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Does anyone have access to that Nordic Card Data, or was its publication stopped? On the public pages, the publication of information ended last autumn. Mainly Norway and Denmark would be of interest.
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According to HS, there’s a buzz in Helsinki’s restaurants. This can be seen as a sign of a shift in consumer behavior.
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I haven’t followed Noho much, but I noticed a low P/E ratio and assumed there was a catch. This seems to be BBS’s accounting-related €20M net income boosting “dog burger”. Inderes shows an adjusted P/E ratio and a normal P/E ratio. I wonder why this hasn’t been adjusted out of the results to give a better picture of Noho. Why is there even an adjusted version if something like this isn’t adjusted? Apologies in advance if this matter has already been discussed, but I didn’t have time to read through the whole thread now.
@Arttu_Heikura or @Sauli_Vilen might be able to shed some light, but anyone else can also tell.
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