Tony's Chocolate Soars Despite Price Hikes & Recalls

Tony's Chocolonely has achieved notable success, reporting a one-fifth increase in revenues to 240 million euros in the year ending September. This growth occurred despite significant challenges, including rocketing cocoa prices and a recall of two product batches due to potential contamination with small stones and metal fragments.

The Dutch chocolatier's sales volume increased by 4% year-on-year, indicating that revenue growth was driven by both price adjustments and increased customer purchases. The United States market proved exceptionally strong, with revenues soaring by 50% to become Tony's largest market, overtaking the Netherlands.

In the UK and Ireland, revenues also saw a healthy 14% rise, totaling 51.2 million euros. Chief Executive Douglas Lamont highlighted the company's resilience, noting that while the industry faced volume declines due to price increases, Tony's managed to grow its own volume. The company also reported an operating profit of 200,000 euros, a reversal from a loss in the prior year.

Lamont emphasized the need for industry-wide collaboration to build resilience against future climate shocks and yield crises, particularly as market cocoa prices begin to fall. Tony's Chocolonely, known for its ethical sourcing and distinctive chocolate bars, continues to advocate for reduced exploitation in cocoa supply chains.