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SENASTE
NoHo Partners reported Q1 EBIT of EUR -9.7m, -30% / -36% versus Infront consensus and Nordea, respectively. Q1 net sales were EUR 20.2m, in line with pre-released sales figures. Operating cash flow was EUR -6.7m in Q1, while liquid assets were EUR 9m at the end of April. Government grants were EUR 4m in Q1 (we had expected EUR 2m). April sales of EUR 4.7m were 78% below 2019 level, while the company expects May sales to double m/m. April cash flow EUR -3m, while the company expects around EUR -2m cash flow in May and positive cash flow in June. The company is preparing for wider opening of its restaurants and aims to provide guidance for 2021 in conjunction with Q2 report. NoHo will publish strategy and financial targets for 2022-24 on 17 June.
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