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Nordea

May 10, 2026

NoHo Partners Q1 Missed Estimates

Market ReportEquitiesConsumer Discretionary

NoHo Partners reported a Q1 EBIT of EUR 4.9m, missing expectations due to weakness in Norway, though 2026 guidance remains unchanged.

Key Takeaways

  • 1.NoHo Partners' Q1 EBIT of EUR 4.9m missed Vara Research consensus by 10% and Nordea estimates by 9%.
  • 2.The performance miss was primarily driven by the International business segment, specifically Norway, where market conditions remain challenging.
  • 3.Guidance for 2026 was reiterated, with the company expecting a stable EBIT margin and increased EPS.

Table of Contents

  • Main takeaways from Q1
  • Reiterated guidance for 2026 suggests fairly stable margin
  • NOHO PARTNERS: DEVIATION TABLE
  • SUMMARY TABLE - KEY FIGURES
  • Disclaimer and legal disclosures
  • Fair value and sensitivity
  • Marketing material

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