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DGAP-News: tonies SE / Key word(s): Annual Results
tonies SE exceeds expectations and closes the 2021 financial year with strong revenue growth of 40%. Growth trend continues in Q1 2022
LUXEMBOURG, 28 APRIL 2022 // The Management Board of tonies SE today presents the first audited consolidated financial statements of tonies SE ("tonies") after its IPO. The company recorded exceptionally high demand and achieved total revenues of EUR 188m (2020: EUR 135m) in the past financial year 2021, representing an increase of +40% compared to 2020. The audited revenue is therefore EUR 3m higher than the in January communicated preliminary revenue of EUR 185m.
In addition to a continued very strong business in DACH, the growth came in particular from a very successful internationalization. Around 19% of the total revenue was generated internationally (compared to 7% in the previous year). All markets developed above plan. Especially in the US, the revolutionary product convinced US customers in record time - tonies sees a full product-market fit. Therefore, exceptionally high sales of EUR 20m were generated in the US in the first full financial year. The sales in the Rest of Europe (especially Great Britain and France after its successful market entry in Q4 2021) reached EUR 16m.
Despite the volatile situation in the supply chains due to the pandemic, tonies succeeded in significantly increasing revenue in 2021 by +40% year-on-year thanks to a second source strategy without any production downtime while simultaneously increasing production output. The company could improve the contribution margin by +1.5% points year-on-year to 21.3%. Investments in the international markets and a targeted expansion of individual functional areas led to an Adjusted EBITDA margin of -8.1% (EUR -15.2m).
"The strong international demand and proven customer satisfaction in all markets encourage us that we pursue the right strategy. We are excited about yesterday's successful official launch of our European Webshop, which starts initially in Belgium, Luxembourg, the Netherlands, Portugal, and Spain. We know from numerous customer enquiries that there is a high interest in our products in many European countries, and now we want to give these customers access to our tonies world. For us, it is another important step towards our vision that our playful audio experiences are an integral part of children's lives all over the world," says Co-Founder and Co-CEO Marcus Stahl.
"In addition, we will continue to excite our customers with new product highlights in 2022" adds Co-Founder and Co-CEO Patric Faßbender and continues: "Long-awaited new launches such as from Disney's "Frozen" and new tonies Originals will expand our extensive Tonie portfolio. We are also looking forward to further developing our range of accessories."
For the current fiscal year 2022, tonies confirms its planned strong growth to EUR 250m in sales for the overall group and EUR 52m for the US. The growth rate in the first quarter of 2022 is in line with expectations for the full year despite volatile market environment. tonies also expects a slightly improved Adjusted EBITDA margin compared to the previous year, each subject to the further development of the global consumer climate and procurement markets as well as the current geopolitical development.
tonies SE will offer a presentation on the results for the financial year 2021 on Thursday, 28 April at 16:00 CET. Further details at https://tonies.com/en-gb/ir/?tab=financial-calendar
28.04.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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