Tonies Se Class A · XETR:TNIE
Tonies Se Class A — Tonies Se Reg A — FY 2024 Earnings Presentation
34 slides from Tonies Se Class A's earnings presentation, Apr 17, 2025
Slide 1: Earnings Presentation FY 2024
Earnings Presentation FY 2024 tonies SE | April 10, 2025
Slide 2: Disclaimer
Disclaimer This document contains forward-looking statements. Forward-looking statements can typically be identified by the use of words such as "expects", "may", "will", "could", "should", "intends", "plans", "predicts", "envisages" or "anticipates" or other words of similar meaning. These forward-
Slide 3: Who you have on the call today
Who you have on the call today Tobias Wann Dr. Jan Middelhoff CEO CFO tonies® 3
Slide 4: Agenda
tonies SE | Earnings Presentation Agenda Welcome to tonies Business Highlights Financial Results Outlook 2025 Q&A tonies® 4
Slide 5: The largest interactive audio experience platform for children in the world
tonies: We have built the largest interactive audio experience platform for children in the world We are the #1 audio platform for kids globally We have unparalleled stickiness Families in >100 countries have activated a ~9 million ~270 min NPS of 79 Toniebox Tonieboxes sold Ø weekly playtime1 in th
Slide 6: FY 2024 performance at a glance
FY 2024 performance at a glance: tonies (over)delivered on all targets Revenue: Toniebox platform grows … fueling the highly predictable EUR 481m exponentially every year… repeat purchases of Tonies Cumulative Tonieboxes sold Cumulative Tonies over customer lifetime YoY: +33% (Q4’16-Q4’24 in #) DACH
Slide 7: 2024 has been a year full of business highlights
2024 has been a year full of business highlights Our value levers: Internationalization Gross margin expansion Delivered the expected North America has become Successful launch in strong Q4 performance, our largest market within just Australia and New Zealand contributing to achievement of four year
Slide 8: Scaling with demand: accelerating growth in peak times
Scaling with demand: we have the institutional knowledge to accelerate growth in peak times With a proven concept for scaling… In Q4 2024 alone, we sold… Strong retail visibility Established D2C operations Warehouses stocked Focus on customer satisfaction >1.4m Tonieboxes …we deliver commerc
Slide 9: Truly international business: >60% revenue outside of DACH
Truly international business: > 60% revenue outside of DACH Revenue (in EURm) Profitable growth across all regions – 2020 6% 94% 135 we have a proven business blueprint 2021 19% 81% 188 Core markets (e.g., DACH, UK) need 2022 39% 61% 258 3-4 years to become profitable 2023 54% 46% 361 Products avail
Slide 10: North America is our largest market now
Just as planned: North America is our largest market now Installed base in North America ~119% CAGR2 - strong growth trajectory since launch >2.5m Tonieboxes sold1 >20m Tonies sold 1 EBITDA breakeven in 2024, while growing revenue 50% yoy Tonies Tonieboxes Penetration still low – we still FY 2024 ha
Slide 11: North America: growing the wholesale channel
North America: we grow our wholesale channel through POS and Shelf Space expansion to fuel volume growth A channel mix… …shifting with a growing wholesale presence +27% Wholesale D2C POS Shelf Space +24% 43% 8,250 43% 35% 6,650 1,750 2,050 25% 57% 6,500 65% 20% 4,600 43% 75% 57% Total SKUs 80% on gr
Slide 12: DACH: our proven blueprint for core markets
DACH: our proven “blueprint” for our core markets Within a stable product and channel mix… …we grow revenue while optimizing margins. Revenue by product category Tonieboxes Tonies +37% Revenue driven by… Accessories & Digital CAGR 11% • product innovation 22% 22% DACH revenue growth • new content 24
Slide 13: Rest of World: strong growth continues in all markets
Rest of World: Wherever we are, we are successful – strong growth continues in all markets Successful launch Expansion of Strong growth in ANZ UK market in France • Largest ever launch portfolio • Record year-over-year POS growth • Established as the #1 audio platform to 2,230 for kids in a competit
Slide 14: Product innovation: own franchises and Pocket Tonies
Product innovation: Customer excitement delivered - strong demand for our own franchises and Pocket Tonies Own IPs strengthen our content platform… …and new products expand consumer groups tonies® originals Pocket Tonies Lalalinos Clever Tonies • Successfully launched in DACH with • Educational cont
Slide 15: Sustainability: Our new vision
Sustainability: Our new vision – filled with life ”Listen, learn, and grow responsibly“ • Refining our sustainability strategy and assessing our current position to create transparency and establish a solid foundation for future improvements. • We are happy to voluntarily publish tonies’ first susta
Slide 16: Building a more sustainable tonies: eco-friendly materials and circularity
Building a more sustainable tonies: Implementing eco-friendly materials and Circular Economy principles Pocket Tonies With bio-circular material Bio-Circular Materials • Ever since conception, the housing of all Pocket Tonies is made with a material based on up to 50% bio-circular feedstocks*. • To
Slide 17: Financial Results FY 2024
Financial Results FY 2024 tonies® 17
Slide 18: Major financial milestones achieved in FY 2024
Major financial milestones achieved in FY 2024 Revenue Growth driven by international markets, particularly North EUR 481m DACH: EUR 184m (+11%) America, and continued very strong growth in the established DACH region. North America becoming tonies 62% North America: EUR 210m (+50%) share int. busin
Slide 19: P&L: Key numbers and margins (adjusted)
P&L: Key numbers and margins (adjusted) FY 2024 FY 2023 +/- EURm % of revenue EURm % of revenue EURm pp Revenue 480.5 100.0% 360.9 100.0% 119.6 - COGS -182.2 -37.9% -138.5 -38.4% -43.7 +0.5pp Gross profit 298.4 62.1% 222.4 61.6% 75.9 +0.5pp -54.9 -11.4% -36.3 -10.1% One-off -18.5 -1.4pp Licensing co
Slide 20: FY 2024 revenue: double digit growth in all regions
FY 2024 revenue: Double digit growth in all regions… Revenue by region (in EURm) Revenue split FY 2023 480.5 International +33% FY 2024 DACH 360.9 62% 54% +50% 480.5 +11% 360.9 +57% 210.4 46% 38% 165.9 184.3 140.4 85.9 54.7 Group DACH North America Rest of World FY 2023 FY 2024 tonies® 20
Slide 21: Balanced growth across all categories
… with balanced growth across all categories Revenue by product category (in EURm) Revenue split by product category +33% FY 2023 480.5 Tonieboxes FY 2024 Tonies Accessories & Digital 29% 360.9 +44% 33% 480.5 +16% 68% 360.9 325.5 63% 225.5 +4% 118.1 137.2 17.3 17.9 5% 4% Group Tonieboxes Tonies Acce
Slide 22: Q4 2024 revenue: accelerated growth led by North America
Q4 2024 revenue: accelerated growth led by North America Revenue by region (in EURm) Revenue by product category (in EURm) +41% Q4 2023 +41% Revenue Q4 2023 Q4 2024 reclassification Q4 2024 increased Tonieboxes & Tonies revenue while decreasing Accessories & Digital revenue +60% +47% 238.5 238.5 +17
Slide 23: Segment Reporting: all regions with positive EBITDA
Segment Reporting: All regions with positive EBITDA – “blueprint” DACH shows strong profitability improvement Total North Rest of Corporate tonies DACH operating Reconciliation America World headquarters group1 in EURm segments Revenue (external) 184.3 210.4 85.9 480.5 0 0 480.5 Licensing costs -27.
Slide 24: Adjusted EBITDA: margin has grown notably in 2024
Adjusted EBITDA: margin has grown notably in 2024 Adjusted EBITDA margin bridge (in pp) 7.5% • COGS improvement driven by better sourcing -0.1% -0.1% • Licensing costs higher due to positive one-off One-off effect in FY 2023 of 2.6% effect of EUR 3.3m in FY 2023, which resulted EUR 3.3m had positive
Slide 25: Adjusted EBITDA vs. EBITDA: narrowing the spread
Adjusted EBITDA vs. EBITDA: Narrowing the spread over time Adjusted EBITDA vs. EBITDA Adjusted EBITDA margin • EBITDA historically adjusted for: EBITDA margin o share-based compensation 7.5% o own software development o special projects and bonuses 4.0% 7.0% o costs & effects related to IPO • Fewer
Slide 26: Cash: strong operating performance led to high year-end cash
Cash: Strong operating performance led to high cash levels at year-end Cash bridge (in EURm) • Operating CF notably up due to -14.1 increased profitability and more efficient working capital management 87.4 -9.1 4.2 • Investing CF mainly for manufacturing 47.2 tools, product-related expenses, own co
Slide 27: Free cash flow & Net income: turning breakeven and positive
Free cash flow & Net income: we turn breakeven & positive, marking major milestones for tonies Free cash flow and Net income (in EURm) FCF Key drivers of break-even: Net income 33 • Revenue growth – driven by regional and product expansion 13 • Margin expansion – through improved gross margin and op
Slide 28: Financing: improved syndicated loan facility
Financing: Improved syndicated loan facility secures further growth path and de-risks potential macro economic turmoil Strong consortium of top tier banks Significantly better financing Through fantastic partners Global top tier bank Citi joining proves global interest in tonies OLD NEW! Signi
Slide 29: Outlook 2025
Outlook 2025 tonies® 29
Slide 30: Guidance FY 2025: need visibility to provide reliable guidance
Guidance FY 2025: 2025 will be a good year for tonies BUT we need visibility to provide a reliable guidance! Today (April 10, 2025) We have full confidence in … and a rich toolbox at • We are publishing our results our product and business… hand that we will use! in unprecedented times of: Global
Slide 31: Business priorities for H1 2025
Business priorities for H1 2025 Our value levers: Internationalization Gross margin expansion Deliver on Easter as a key Further expand proprietary commercial moment – this content portfolio, including year in Q2 vs. Q1 in 2024 new Sleepy Friends and Own content/IP additional IPs Product/channel mix
Slide 32: Q&A
Q&A tonies® 32
Slide 33: Key takeaways
Key takeaways We delivered a positive Free cash flow and Net income, fully validating our profit- I generating business model and keeping a key promise from the IPO II We built North America into our largest market as planned III We’ve secured funding for future growth with the backing of global and
Slide 34: Investor Relations Contact
Investor Relations Contact Investor Relations Team Contact ir@tonies.com Investor Relations Contact Manuel Bösing Head of Investor Relations Phone: +4915157846012 Mail: manuel.boesing@tonies.com tonies® 34