tonies achieves revenue of EUR 78.3 million in the first quarter of 2024

EQS-News: tonies SE / Key word(s): Quarterly / Interim Statement
tonies achieves revenue of EUR 78.3 million in the first quarter of 2024

15.05.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Quarterly Statement Q1 2024

tonies achieves revenue of EUR 78.3 million in the first quarter of 2024

  * Group revenue increased by 20.3% YoY to EUR 78.3 million (Q1 2023: EUR
    65.1 million) driven by international expansion

  * North America revenue up by 46.9% YoY to EUR 27.9 million (Q1 2023: EUR
    19.0 million) driven by both successful wholesale expansion and strong
    direct-to-consumer sales

LUXEMBOURG, 15 May 2024 // tonies SE ("tonies"), the leading international
digital audio platform for children with the award-winning Toniebox, has
released its quarterly statement for the first quarter of 2024, ended on 31
March 2024.

Tobias Wann, CEO of tonies, commented:

"In 2023, we achieved remarkable milestones, marking it as a record year for
our company with exponential growth and becoming profitable on an EBITDA
basis. As expected, we entered 2024 with an increase of revenue in Q1 of
around 20% year-over-year and growth across all product categories and
regions. Our Easter business exhibited strong performance, albeit facing
supply chain challenges that resulted in some selected stock outs in the
first quarter. As we progress further into the year, we anticipate a notable
acceleration in our growth trajectory in the second half of the year, where
we generate the majority of our revenue. The strategic initiatives
implemented in the first quarter will play a crucial role to achieve our
guided target of a growth rate of more than 33% in 2024. One such initiative
is the launch of Clever Tonies, a new product category designed to engage
older children with educational entertainment content."

Group revenue in the first quarter of 2024 went up by 20.3% YoY to EUR 78.3
million (Q1 2023: EUR 65.1 million) as expected. While the Easter business
was strong in the various regions, revenue growth in the first quarter was
affected by a strong baseline effect (Q1 2023: 42% YoY) and selected stock
shortages as a result of supply chain disruptions, particularly in
connection with the Suez Canal.

All regions showed positive growth in the first quarter of 2024. North
America achieved a year-over-year revenue growth of 46.9% amounting to EUR
27.9 million and is fully on track to achieve the guided growth rate of
above 42% for full-year 2024. Direct-to-consumer and wholesale channel
recorded similar revenue growth. Following a very successful partnership
with Walmart since launch in fall 2023, tonies will be present in more than
350 additional Walmart stores in 2024, bringing the total number of Walmart
stores to 1,950.

In the DACH region, revenue increased by 2.4% YoY to EUR 40.2 million with
the strongest growth with key wholesale partners and own webshop. The
"Clever Tonies" were successfully launched in the DACH market. In order to
gain awareness and additional shelf space for the new format, tonies sold
more than 1,300 "Clever Tonies" specific displays to wholesale partners.

In Rest of World, revenue grew by 48.8% YoY to EUR 10.3 million driven by
the UK and particularly strong growth in France. tonies sees strong progress
in both countries. In the UK, there will be a considerably higher adoption
with wholesale partners in 2024, as the number of point of sales will
increase from 1,550 at the end of 2023 to around 2,200 at the end of this
year. After revenue more than tripled in France in 2023, strong momentum
continued in the first quarter of 2024. With more than 100,000 Tonieboxes
and more than 1,000,000 Tonies sold since market launch, France has reached
two important milestones.

In the first quarter of 2024, tonies successfully expanded its international
reach, as the regional share of revenue beyond the DACH region significantly
increased from 40% in Q1 2023 to 49%. This indicates that tonies continues
to make great progress in its global expansion efforts.

From a product category perspective, Tonieboxes revenue was up by 21.4% YoY
to EUR 15.1 million. By selling more than 7 million Tonieboxes, the
company´s anchor product, since the product launch in Q4 2016, tonies has
built a strong platform with a powerful competitive shield based on user
experience, product proficiency, intellectual property, seasonal build-up,
financial strength, and patents.

Revenue of Tonies figurines increased by 15.6% YoY to EUR 56.9 million
driven by both licensed third-party Tonies including Peppa Pig and Disney as
well as Tonies with in-house produced content and own design such as tonies
first own license brand "Sleepy Friends". After a strong launch in the US in
Q4 2023, tonies new format "Clever Tonies" was also successfully introduced
to the DACH market. "Clever Tonies" clearly contribute to tonies value
levers as they provide a higher margin, shorter go-to market time, target
group extension (kids 5+ years) and more sustainable materials (50%
bio-circular material).

In Accessories & Digital, revenue grew by 81.7% YoY to EUR 6.4 million
mainly led by sales of headphones, carriers, the Sleepy Sheep Night Light
Tonie and chargers.

Net assets and financial position

No substantial changes to the net assets and financial position of the group
occurred in the period under review compared to the situation as of December
31, 2023, taking into account the seasonal cash outflow.

Guidance for full-year 2024

tonies confirms its guidance for 2024 with group revenue of above EUR 480
million and revenue from North America of above EUR 200 million, based on
the assumed EUR/USD exchange rate of USD 1.07. This implies a year-over-year
revenue growth for the group of more than 33% and for North America of more
than 42% respectively. tonies also expects an adjusted EBITDA margin in the
6 to 8 percent range and Free Cash Flow is expected to turn positive and
come in above EUR 10 million. The forecast is based on the assumption that
there will be no further material deterioration of consumer sentiment in
2024.

tonies SE will hold a presentation on its Q1 2024 results today, Thursday,
15 May at 11am CET. All details can be found under
https://ir.tonies.com/financial-calendar/

All publication documents are available on tonies' Investor Relations
Website under https://ir.tonies.com/publications/

Revenue

    in EURm                Q1 2024  Q1 2023  Change
    Revenue                   78.3     65.1   20.3%
    by region
    DACH                      40.2     39.2    2.4%
    North America             27.9     19.0   46.9%
    Rest of World             10.3      6.9   48.8%
    by product category
    Tonieboxes                15.1     12.5   21.4%
    Tonies figurines          56.9     49.2   15.6%
    Accessories & Digital      6.4      3.5   81.7%

About tonies

tonies® is the world's largest interactive audio platform for children with
around 7 million Tonieboxes and 88 million Tonies sold. The intuitive and
award-winning audio system has changed the way young children play and learn
independently with its child-safe, wireless, and screen-free approach.
Tonieboxes have been activated in over 100 countries, the content portfolio
includes more than 1,100 Tonies figurines in several languages.

Investor Relations Contact

Manuel Bösing

Head of Investor Relations

Phone: +4915157846012

Mail: ir@tonies.com

This document contains forward-looking statements

Certain statements included in this document are 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-looking statements are based upon current expectations and
assumptions regarding anticipated developments and other factors affecting
the tonies SE. They are not historical or current facts, nor are they
guarantees of future performance.

Disclaimer

By their nature, forward-looking statements involve several risks,
uncertainties and assumptions that could cause actual results or events to
differ materially from those expressed or implied by the forward-looking
statements. These risks, uncertainties and assumptions could adversely
affect the outcome and financial effects of the plans and events described
in this document. These forward-looking statements speak only as of the date
of this announcement. Except as required by any applicable mandatory law or
regulation, the tonies SE expressly disclaims any obligation or undertaking
to release publicly any updates or revisions to any forward-looking
statements contained in this document to reflect any change in the tonies
SE's expectations with regard thereto or any change in events, conditions,
or circumstances on which any such forward-looking statements are based.
Neither tonies SE nor any other person accepts any responsibility for the
accuracy of the opinions expressed in this document or the underlying
assumptions.


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   Language:       English
   Company:        tonies SE
                   9 rue de Bitbourg
                   1273 Luxembourg
                   Germany
   ISIN:           LU2333563281, LU2333564099,
   WKN:            A3CM2W, A3GRR1,
   Listed:         Regulated Market in Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Berlin, Dusseldorf,
                   Munich, Stuttgart, Tradegate Exchange
   EQS News ID:    1903045

End of News EQS News Service
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1903045 15.05.2024 CET/CEST