First quarter of 2024: Tonies generates revenue of EUR 78.3 million

Tonies has published its results for the first quarter of 2024, which ended on March 31, 2024:

• Group sales increased by 20.3% to EUR 78.3 million (Q1 2023: EUR 65.1 million), driven by international expansion.
• Sales growth in North America of 46.9% to EUR 27.9 million (Q1 2023: EUR 19.0 million) thanks to successful expansion in wholesale and strong direct-to-consumer business

Tobias Wann, CEO of tonies, comments:

"In 2023, we reached important milestones. It was a record year for our company with exponential growth and profitability on an EBITDA basis. As expected, we started the first quarter of 2024 with an increase in sales of around 20% compared to the previous year and growth in all product categories and regions. Our Easter business was strong, although we faced supply chain challenges that resulted in limited availability of certain products in the first quarter. We expect our growth to accelerate significantly in the second half of the year, when we generate the majority of our sales. The strategic initiatives we implemented in the first quarter will play a crucial role in achieving our target of a growth rate of more than 33% in the full year 2024. One of these initiatives is the launch of Clever Tonies, a new product category aimed primarily at older children with informative content."

Successful partnerships

All regions recorded positive growth in the first quarter of 2024. North America achieved year-on-year sales growth of 46.9% to EUR 27.9 million and is on track to achieve the forecast growth rate of over 42% for 2024 as a whole. The Direct-to-Consumer business and Wholesale recorded similarly strong sales growth. The very successful partnership with Walmart since its launch in fall 2023 will be further expanded in 2024 and tonies will then be represented in more than 350 additional Walmart stores. The total number of Walmart stores with tonies products will then rise to 1,950.version)

Strong growth in France

In the rest of the world, sales rose by 48.8% year-on-year to EUR 10.3 million. The increase in sales was driven by the UK and particularly strong growth in France. tonies believes it is on the right track in both countries. In the UK, the number of sales outlets will increase from 1,550 at the end of 2023 to around 2,200 at the end of 2024. After sales in France more than tripled in 2023, the strong momentum continued in the first quarter of 2024. With more than 100,000 Tonieboxes and more than 1,000,000 Tonies sold since the market launch, France has reached two important milestones.

Source: tonies erzielt im ersten Quartal 2024 einen Umsatz von 78,3 Millionen Euro | Presseportal