Tony's Chocolonely reports double-digit growth
The company credits its ethical bean sourcing through Tony's Open Chain.
Tony’s Chocolonely, the mission-led chocolate brand with a vision to end exploitation in cocoa, has reported its integrated impact and financial results for year-end Sept 30, 2025, with the launch of its 2024/5 Annual Fair Report.
With record cocoa prices and the worst mid-crop harvest in a decade, many companies in the chocolate industry are facing volume and profit declines, the company says. Tony’s growth in net revenue, volume, and profitability this financial year, while continuing to accelerate its positive impact on the ground in West Africa, demonstrates the company’s resilience and the success of its 5 Sourcing Principles, it adds:
- The company reported +20% overall revenue growth to € 240m, with +50% YoY (year-over-year) revenue growth in the U.S., making it Tony’s biggest market, overtaking the Netherlands for the first time. Tony’s Chocolonely total volume grew +4% YOY.
- Tony’s reported an operating profit (EBIT) of €0.2m (+€3M YoY), while reinvesting in production and distribution to meet rising consumer demand for its products globally
- Tony’s Open Chain sourced nearly 27,000 metric tons of beans, a +50% increase year-on-year, positively impacting 33,467 cocoa farmers in Côte d’Ivoire and Ghana (+60% YoY)
- Long-term partner co-operatives report a child labor prevalence rate below 5% (vs. industry average 46.7%)
- Ninety-nine percent of cocoa sourced via Tony's Open Chain is verified deforestation-free
Commenting on the results, Tony’s Chocolonely CEO Douglas Lamont says: “It’s been a challenging year, but we’ve shown how resilient and effective our model is with strong growth in revenue, volume, profitability and, most importantly, impact on the ground for cocoa-farming families."
"We are immensely proud to take yet another step forward in proving the case for a more holistic impact model for the cocoa industry. As an industry, we need to learn the lessons of this recent crisis and make a collective long-term commitment to paying cocoa farmers a higher price," he adds. "More industry players are already joining Tony’s Open Chain each year, and together, we’re committed to ending exploitation in the cocoa industry to create a fairer, more sustainable future for farmers and chocolate lovers alike."
Tony’s Open Chain: collaborating on cocoa, competing at shelf
Tony’s opened its supply chain to cocoa-buying companies in 2019, with the creation of Tony’s Open Chain. This means any chocolate company can source from its partner cooperatives, all of which use Tony’s 5 Sourcing Principles.
- The initiative now has 20+ Mission Allies and 19 partner cooperatives with 33,467 farmers impacted.
- This approach actively fights exploitation in the supply chain and offers cocoa-buying businesses more resilience, as demonstrated by the higher yield at partner cooperatives vs. industry average in this report.
- Per the 2025 Cocoa Barometer, Tony’s Open Chain is reportedly currently the only industry player implementing all three of the key purchasing practices considered by Voice Network as essential towards implementing a living income approach (good agricultural practices, good governance policies, and good purchasing practices).
- Tony’s Open Chain welcomed two new partners during the reporting period, while major Dutch grocer Albert Heijn expanded its scope and Aldi renewed its commitment for five years.
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