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Tony’s Chocolonely posts €28m revenue increase
In its newly published results, the Fairtrade-certified chocolate firm confirmed that its annual revenue had reached €150m.
Tony’s is headquartered in the Netherlands but has had an extensive retail presence in the UK since 2019. It is also B Corp certified and operates an office in London.
The manufacturer accredited its growth to the successful launch of the Tony Lil’ Bits range and a particularly strong performance in the UK, USA and Germany.
Tony’s also secured €20m investment from existing shareholders in June 2023, while it posted earnings before interest and taxes (EBIT) of -€2.7m.
Alongside the firm’s financial results, Tony’s published its annual FAIR report, which revealed the largest annual increase in Tony’s Mission Allies to date with six new partners joining their collaborative industry initiative Tony’s Open Chain.
More than 17,000 farmers, a 20% year-on-year increase, are now involved with Tony’s five sourcing principles, which receiving living income pricing for all cocoa sold via Tony’s Open Chain.
Results serve as proof of concept for Tony’s Chocolonely
Tony’s chief executive Douglas Lamont said that “as an impact-led company that wants to drive change across the whole industry”, the firm is intent on proving that ending the “exploitation of West African farming families” was compatible with delivering “good returns for shareholders”, providing “impactful careers for employees” and caring for the planet.
“Our results this year demonstrate yet again that partnering with others in the cocoa supply chain and balancing the needs of all our stakeholders is both the right thing and the smart thing to do, to build a successful impact company over the long term,” he added.
Lamont joined the firm in August 2022 after 15 years with Innocent Drinks, where he also served as chief executive for a total of nine years. Tony’s was founded by Dutch journalist Teun van de Keuken in 2005, who sold a majority stake in the company in 2011.
In other news, the top TikTok food trends in the UK for 2023 have been revealed.
