Tonies SE Maintains Leading Position with Strong Revenue Growth

Tonies SE has reported a significant 31% increase in group revenues for FY25, reaching €630 million, further solidifying its status as a leader in screen-free children’s entertainment. The launch of the Toniebox 2 and new product lines fueled growth, with international revenues notably rising in North America by 40%. The company’s profitability improved as well, with an adjusted EBITDA margin expanding to 8.6%.

The company anticipates >20% revenue growth for FY26, aiming for over €760 million, driven by robust North American sales and new ecosystem monetization strategies such as Tonieplay. Strategic inventory build-ups led to a temporary free cash flow dip, but Tonies’ strong balance sheet alleviates concerns.

Despite its successes, Tonies sees potential for further international expansion beyond the current markets. The company maintains a ‘BUY’ recommendation with an increased target price of €14.5, reflecting confidence in sustained growth and market penetration.