EQS-News

tonies achieves revenue of EUR 78.3 million in the first quarter of 2024

EQS-News: tonies SE / Key word(s): Quarterly / Interim Statement tonies achieves revenue of EUR 78.3 million in the first quarter of 2024 15.05.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Quarterly Statement Q1 2024

tonies achieves revenue of EUR 78.3 million in the first quarter of 2024

• Group revenue increased by 20.3% YoY to EUR 78.3 million (Q1 2023: EUR 65.1 million) driven by international expansion
• North America revenue up by 46.9% YoY to EUR 27.9 million (Q1 2023: EUR 19.0 million) driven by both successful wholesale expansion and strong direct-to-consumer sales

LUXEMBOURG, 15 May 2024 // tonies SE ("tonies"), the leading international digital audio platform for children with the award-winning Toniebox, has released its quarterly statement for the first quarter of 2024, ended on 31 March 2024.

Tobias Wann, CEO of tonies, commented:

"In 2023, we achieved remarkable milestones, marking it as a record year for our company with exponential growth and becoming profitable on an EBITDA basis. As expected, we entered 2024 with an increase of revenue in Q1 of around 20% year-over-year and growth across all product categories and regions. Our Easter business exhibited strong performance, albeit facing supply chain challenges that resulted in some selected stock outs in the first quarter. As we progress further into the year, we anticipate a notable acceleration in our growth trajectory in the second half of the year, where we generate the majority of our revenue. The strategic initiatives implemented in the first quarter will play a crucial role to achieve our guided target of a growth rate of more than 33% in 2024. One such initiative is the launch of Clever Tonies, a new product category designed to engage older children with educational entertainment content.”

Group revenue in the first quarter of 2024 went up by 20.3% YoY to EUR 78.3 million (Q1 2023: EUR 65.1 million) as expected. While the Easter business was strong in the various regions, revenue growth in the first quarter was affected by a strong baseline effect (Q1 2023: 42% YoY) and selected stock shortages as a result of supply chain disruptions, particularly in connection with the Suez Canal.