Tonies Se Class A · XETR:TNIE
Tonies Se Class A — H1 2026 Earnings Presentation
40 slides from Tonies Se Class A's earnings presentation, Aug 20, 2026
Slide 1: Earnings Presentation H1 2026
Earnings Presentation H1 2026 tonies SE | Aug 20, 2026
Slide 2: Disclaimer
Disclaimer This document (the “Presentation”) is for information purposes only and must not be relied upon for any purpose. It does not purport to contain all information required to evaluate tonies SE (the “Company”) and its subsidiaries (collectively, the “Group”) and/or its financial position. Th
Slide 3: Who you have on the call today
Who you have on the call today Tobias Wann Hansjörg Müller CEO CFO tonies® 3
Slide 4: Agenda
tonies SE | Earnings Presentation Agenda Welcome to tonies® Business highlights H1 2026 Financial results H1 2026 Outlook FY 2026 Q&A tonies® 4
Slide 5: Welcome to tonies
Welcome to tonies®
Slide 6: We have built the largest interactive audio experience platform for children in the world
We have built the largest interactive audio experience platform for children in the world We are the #1 audio platform for kids globally… …and have unparalleled stickiness. Families in >100 countries ~12.6 million >173 million ~280 min have activated a Toniebox Tonieboxes sold1 Tonies sold1 Ø weekly
Slide 7: H1 2026 performance at a glance: tonies delivered on all targets
H1 2026 performance at a glance: tonies® delivered on all targets Toniebox platform grows …fueling the predictable exponentially every year... repeat purchases of Tonies. Revenue H1 2026: Cumulative Tonieboxes sold (Q4’16-Q2’26, #) Cumulative Tonies over customer lifetime €243m (+41% cc) • DACH: EUR
Slide 8: Business highlights H1 2026
Business highlights H1 2026
Slide 9: tonies has delivered another successful H1!
tonies® has delivered another successful H1! Our value levers Today’s focus Capital Markets Day: Recap Toniebox Lite launch update Market highlights H1 Build an ecosystem that compounds >€1.4b We’ve shared our Staggered value Net revenue updated mid- launch since term ambition – July 27 – NA: Accele
Slide 10: Recap CMD: Our financial mid-term ambition is clear and bold
Recap CMD Toniebox Lite Partnership highlights Market highlights Net revenue Adj. EBITDA margin 16-18% >€1.4bn Recap CMD: Our financial mid-term ambition is 8.6% €630m clear, and bold 2025A 2030E 2025A Mid-term We target to approximately 2X both net revenue and adj. EBITDA margin Note: In addition t
Slide 11: Our mid-term ambition is supported by clear business priorities
Recap CMD Toniebox Lite Partnership highlights Market highlights Build an ecosystem that compounds value: Shaping the future of childhood. Our mid-term ambition is supported by Win internationally, US-first: Leverage tonies® global product-market fit and make our leadership count. clear business pri
Slide 12: Multi-experience ecosystem: tonies is not just about the box
Recap CMD Toniebox Lite Partnership highlights Market highlights tonies® ecosystem Multi- Digital experience experience Accessories ecosystem: tonies® is not Above-the-Box portfolio just about ‘In the future, we’ll say ‘devices’. ‘the box’ Device More on Toniebox Lite later in this presentation. ton
Slide 13: We have bold ambitions for international growth – both in existing and new markets
Recap CMD Toniebox Lite Partnership highlights Market highlights We have bold ambitions for international growth – both in existing and new markets Our ambition… Significant headroom in existing markets (e.g., US penetration ~12%) Two new growth markets launched within 2027 Presence in all major reg
Slide 14: Our plan is supported by predictable cohort economics
Recap CMD Toniebox Lite Partnership highlights Market highlights x Cohort year (Year of attach sales – €m / absolute) 2020 21 22 23 24 25 26 27 28 29 30 31 32 33 34 2035+ 2020 2021 Cohorts are getting more valuable over Our plan is 2022 time as size increases 2023 supported by 2024 predictable 2025
Slide 15: Toniebox Lite announced on Jul 27 for NA, UK and ANZ launch
Recap CMD Toniebox Lite Partnership highlights Market highlights Toniebox Lite announced on Jul 27 for NA, UK and ANZ launch The Toniebox Lite, a The 'it' toy for smaller, travel-friendly Christmas 2026 audio player […] allows dropped today (and it'll a more wallet-friendly News coverage: 500m+ reac
Slide 16: Toniebox Lite introduces a multi-device ecosystem
Recap CMD Toniebox Lite Partnership highlights Market highlights Toniebox Lite introduces a multi-device ecosystem Toniebox 2 Listening + interactive gaming Toniebox Lite Remains our hero player with Listening-focused premium features and added interactive audio play Introduces the signature tonies®
Slide 17: Toniebox Lite sits on shelves next to Toniebox 2, our hero product
Recap CMD Toniebox Lite Partnership highlights Market highlights Toniebox Lite sits Toniebox 2 Toniebox Lite on shelves next to Designed for Kids 1-9+ Toniebox 2, our Product Design Soft fabric shell Hard-shell, with add-on sleeves hero product. Use with Tonies Use with Tonieplay Wifi & Bluetooth co
Slide 18: Toniebox Lite unlocks strategic value for tonies
Recap CMD Toniebox Lite Partnership highlights Market highlights Toniebox Lite unlocks strategic value for tonies® What remains foundational… …what Toniebox Lite will add Extensive Independent, content for SAM expansion intuitive every age & interest listening More compact design Tactile Peace of ex
Slide 19: Toniebox Lite drives acquisition and retention
Recap CMD Toniebox Lite Partnership highlights Market highlights Toniebox Lite drives acquisition and retention For families new-to-tonies®… For tonies® families… Price is #1 barrier not to Positioned to enable multi-device ownership… purchase a Toniebox1 Toniebox Lite reduces barrier across markets
Slide 20: Our 2026 tentpole launches
Recap CMD Toniebox Lite Partnership highlights Market highlights Fully immersive launch event at NZs largest mall… Our 2026 Pre-buy at Target in US …exclusive shelf-space tentpole Launch in NZ with our key retail launches Jul 19 More to come for our partner… start to drop global launch… x ...and wid
Slide 21: Our 2026 tentpole launches
Recap CMD Toniebox Lite Partnership highlights Market highlights Tailored campaigns in collaboration with Hasbro Media buzz created Our 2026 across markets tentpole launches start to drop Clear booster for upper age range x portfolio (5+ | 7+) tonies® 21
Slide 22: As for our Pokémon launch – stay on board…
Recap CMD Toniebox Lite Partnership highlights Market highlights As for our Pokémon launch – stay on board… tonies® 22
Slide 23: Innovation continues in Above-the-box: Serialized content and expansion into sports
Recap CMD Toniebox Lite Partnership highlights Market highlights Germany’s ‘Record Champion’ in Serialized content drives engagement: 18 football Innovation sequential releases à ~11 minutes content Joint 3rd rank for major European trophies won continues in ~75k official Kid’s Club members, Above-t
Slide 24: UK: We aired the 1,000th episode of 'Today with tonies'
Recap CMD Toniebox Lite Partnership highlights Market highlights Key highlights statistics … higher engagement frequency vs. average Tonie1 UK: We aired … more total playtime for owners vs. non-owners1 Serialized content drives routine the 1,000th … more Tonies purchased for owners vs. non owners1 e
Slide 25: Market highlights NA and DACH: Innovation with retail partners drives incrementality
Recap CMD Toniebox Lite Partnership highlights Market highlights Market highlights NA and DACH: Innovation with retail partners drives incrementality tonies® loyalty programs … first ever introduced with major retail partner, Migros 800 additional POS unlocked with out-of-aisle placements with Tonie
Slide 26: Financial results H1 2026
Financial results H1 2026
Slide 27: Strong H1 2026 topline driven by all segments and product categories
Strong H1 2026 topline driven by all segments and product categories H1 Revenue DACH: EUR 89m, +26% (cc) Topline driven by all segments, with accelerating growth in EUR 243m NA: EUR 104m, +57% (cc) NA and in the DACH region despite exceptional household penetration. YoY acceleration in Toniebox reve
Slide 28: P&L: Gross margin driven by timing of tariffs & product mix, partially offset by operating leverage
P&L: Gross margin driven by timing of tariffs & product mix, partially offset by operating leverage H1 2026 H1 2025 +/- EURm % of revenue EURm % of revenue EURm pp Revenue 242.9 100.0% 176.6 100.0% 66.3 - COGS -86.7 -35.7% -51.4 -29.1% -35.3 -6.6 pp Gross profit 156.2 64.3% 125.1 70.9% 31.1 -6.6 pp
Slide 29: H1 2026 revenue: Accelerating growth in DACH and NA
H1 2026 revenue: Accelerating growth in DACH and NA Revenue by region, in EURm Revenue split, in EURm H1 2025 International +41% in cc H1 2026 243 DACH 243 177 177 63% +57% +26% in cc 60% in cc +43% 104 89 in cc 71 71 50 35 37% 40% Group DACH North America Rest of World H1 2025 H1 2026 Note: Growth
Slide 30: Strong Toniebox sales increasing installed base
Strong Toniebox sales increasing installed base Revenue by product category, in EURm Revenue split, in EURm +41% H1 2025 Accessories & Digital in cc H1 2026 243 Tonies 4% Tonieboxes 243 +36% in cc 177 177 177 4% 73% 134 +69% 76% in cc +15% 57 in cc 35 24% 8 9 20% Group Tonieboxes Tonies Accessories
Slide 31: Q2 revenues driven by outstanding growth in NA
Q2 revenues driven by outstanding growth in NA Revenue by region, in EURm Revenue by product category, in EURm +49% Q2 2025 +49% Q2 2025 in cc Q2 2026 in cc Q2 2026 117 117 +43% in cc 79 +85% 79 82 in cc +23% in cc 57 +76% 58 +31% in cc 39 in cc 32 31 32 +12% 22 18 in cc 17 3 4 Group DACH North Amer
Slide 32: Segment reporting: DACH margin improving further on high base and NA stable
Segment reporting: DACH margin improving further on high base and NA stable despite timing of tariffs & product mix Total North Rest of tonies in EURm DACH operating Corporate HQ Reconciliation America World group1 segments Revenue (external) 88.9 104.3 49.7 242.9 0.0 0.0 242.9 Licensing costs -11.0
Slide 33: Adjusted EBITDA margin influenced by timing of tariffs and product mix
Adjusted EBITDA Margin influenced by timing of tariffs and product mix, partially offset by operating leverage Adjusted EBITDA margin bridge, in % of revenue Increased COGS, mainly resulting 2.1% Driven by higher share of from product-mix-shift to Toniebox sales, resulting in lower gross margin To
Slide 34: We successfully managed macroeconomic challenges throughout H1 2026
We successfully managed macroeconomic challenges throughout H1 2026 Challenges Strategic outcomes Tariff situation has stabilized and was supported through US tariffs diversification of suppliers Flexibility in technology and production allowed to secure Memory chip supply supply for the remainder o
Slide 35: Outlook 2026
Outlook 2026
Slide 36: FY 2026 Guidance reiterated: Profitable growth continues
FY 2026 Guidance reiterated: Profitable growth continues Results Guidance FY 2025 FY 2026 EUR >760m Group revenue EUR 630 million (>20% YoY in cc) North America revenue EUR 276 million >30% YoY (in cc) Adjusted EBITDA margin (%) 8.6% 9.0-11.0% Based on the assumptions that there will be no materia
Slide 37: < B 6]
< B 6]
Slide 38: Meet us at upcoming roadshows and conferences!
Meet us at upcoming roadshows and conferences! Results Roadshows and conferences • Sep 1: Berenberg Stockholm Seminar • Sep 2: Commerzbank & Oddo BHF Corporate Conference, Frankfurt Q3 2026 • Sep 21: Berenberg and Goldman Sachs 15th German Corporate Conference, Munich • Nov 17-19: US-Roadshow; New Y
Slide 39: Key takeaways: Strong confidence in H2 '26 – and beyond
Key takeaways: Strong confidence in H2 ‘26 – and beyond Our mid-term ambition is backed by a value-compounding ecosystem, successful international growth, and a I resilient financial model: >€1.4bn revenue by 2030 and 16–18% Adj. EBITDA mid-term. Toniebox Lite expands SAM and unlocks additional pote
Slide 40: Confidentiality
Confidentiality All information within these slides are strictly confidential and can only be handed over or published to third persons with the prior written permission of tonies GmbH. © tonies GmbH, 2026 www.tonies.com