NoHo released March sales figures that were roughly 20% of corresponding period in 2019. March sales were approximately EUR 4.2m, above our estimate of EUR ~2m. Hence, Q1 sales approximately EUR 20m (Nordea EUR 18m). Nearly half of the turnover consisted of sales in the first week of March, when restaurants were still open in Finland. March operating cash flow was negative by a clear margin, but the company expects to receive some compensation from the Finnish state at a later stage.
LÄS MER