tonies shares half year results
Group revenue amounted to EUR 146.8 million in the first six months of 2024, representing a year-over-year growth of 29.8% (Q2: 42.6% to EUR 68.4 million), with an increase in revenue in all regions and all product categories. tonies made significant strides in its global expansion, with revenue from regions outside the DACH area rising sharply from 41% in H1 2023 to 51%, underscoring tonies' success in expanding its international presence.
North America
North America achieved a year-over-year revenue growth of 63.3% amounting to EUR 55.2 million (Q2: 85.1% to EUR 27.4 million) and is fully on track to achieve the guided growth rate of above 42% for full-year 2024. Revenue growth was fueled by strong performance in both the direct-to-consumer and wholesale channels, with the latter seeing significant gains due to expanded shelf space and an increased number of points of sale at major retailers like Target and Walmart.
UK, France and more
In the Rest of World, revenue grew by 49.9% YoY to EUR 19.7 million (Q2: 51.6% to EUR 9.4 million) driven by the UK and particularly strong growth in France. tonies sees strong progress in both countries. In the UK, tonies sees a considerably higher uptake among wholesale partners in 2024, as the number of point of sales will increase from 1,550 at the end of 2023 to around 2,200 at the end of this year. In France, tonies maintained its momentum across all distribution channels in the first half of the year after revenue more than tripled in 2023, led by increasing expansion in wholesale.
Strong product, strong business, strong team
Tobias Wann, CEO of tonies says: “After my first six months as CEO, I know that at tonies we have a strong product, a strong business and a strong team. Together, we have built the largest interactive audio experience platform for children in the world. And this is still just the beginning.
In the first half of 2024, we have not only continued to grow profitably, but we have also set the stage to shift into the next gear: we have signed multi-year, multi-territory deals with top licensing partners like Disney and Paramount. These licenses are a key to further internationalizing tonies. And this is exactly what we are doing right now with our successful market entries in Australia and New Zealand.”
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