NoHo Partners (NOHO) Q4 2025 earnings summary

Executive summary

• Achieved a 9% operating margin for the fiscal year, with Finnish operations exceeding 13% during peak season and a strong Q4 finish.

• Turnover grew 3.1% for the year, with Q4 turnover up 5.3% despite cautious consumer spending.

• Better Burger Society was spun off, resulting in a one-time EPS gain of €1.07 and is now an associated company.

• Strategic acquisitions included Jungle Juice Bar and Halifax Burgers.

• Updated dividend policy and strengthened balance sheet support long-term growth.

Financial highlights

• Revenue/turnover grew by 3.1% year-over-year to €358.0M, with Q4 revenue at €101.8M (+5.3% YoY).

• Operating profit/EBIT for the year was €32.3M (9.0% margin), with Q4 EBIT margin at 11.6%.

• Net income from continuing operations was €11.9M; total net income including discontinued operations was €35.4M.

• EPS was €1.55, boosted by the BBS spin-off; continuing operations EPS was €0.46.

• Proposed dividend: €0.23 per share, to be paid in three instalments.

Outlook and guidance

• 2026 EBIT margin expected to remain at current strong levels, with comparable EPS growth.

• Long-term targets: maintain ~9% operating margin, reduce net debt/EBITDA to around 2x by 2027, and distribute at least 50% of comparable EPS as dividends.

• Market demand expected to remain modest in H1 2026, with gradual recovery anticipated.