tonies

Tonies reported a 38 percent revenue increase in the first half of 2026 to around €243 million, but adjusted EBITDA fell by more than half to €1.8 million and the margin dropped to 0.7 percent. Profitability was weighed down by new US tariffs and a higher share of lower-margin Toniebox sales, intended to strengthen the installed base and follow-on revenues in the long term. The company announced a licensing partnership with FC Bayern and is expanding content with Pokémon and Snoop Dogg. For 2026 it maintains a currency-adjusted revenue growth forecast of more than 20 percent and an adjusted EBITDA margin of 9–11 percent; the mid-term target is revenue of more than €1.4 billion and a margin of 16–18 percent by 2030. » Plus sur deraktionaer.de

Tonies says revenue reached €630m in 2025 and first-half 2026 revenue grew 38% (currency-adjusted 41%). For 2026 the company expects an adjusted EBITDA margin of 9–11% and positive free cash flow after a cash outflow of €64m in H1, driven by inventory build-up, product launches and US tariffs. Key growth drivers are the lower‑priced Toniebox Lite, exclusive US distribution at Walmart and licensing partnerships (including Pokémon, Bluey, Hasbro, Bayern München). Tonies targets €1.4bn in revenue by 2030 and an adjusted EBITDA margin of 16–18%, and highlights data‑driven, subscription‑like customer retention through figure sales. » Plus sur de.investing.com

MWB Research has confirmed its rating for tonies at "Buy" with a price target of €17.25 following the half-year results. Thanks to its US business, the toy maker beat expectations in the first half and saw robust demand for Tonieboxes and figurines. US tariffs and a higher share of lower‑margin Tonieboxes have temporarily reduced profitability. » Plus sur finanzen.net