Tonies SE Earnings Exceed Expectations, Driving Positive Outlook

tonies SE has reported strong preliminary financial results for FY2025. The company experienced impressive revenue growth, with figures reaching €630 million, a 31% increase year-on-year. This growth was driven by the successful launch of the Toniebox 2 (TB2), expanding content offerings, and continued global expansion.

North America was a significant contributor, posting a 31% year-on-year increase to €276 million in revenue. The DACH region also saw growth of 16% year-on-year, bolstered by TB2's market penetration. Meanwhile, other markets surged by 64%, illustrating successful expansions into countries like the UK and France.

The adjusted EBITDA margin rose to 8.5%, demonstrating improved product mix and operational efficiency. Although free cash flow was modest, the company's financial standing remains robust, with €73 million in net cash. Analysts maintain a "BUY" recommendation, raising the target price to €14.