Professional
Added to YB: 2026-06-05
Pitch date: 2026-05-04
TNIE.F [bullish]
tonies SE
Author Info
Norbury Capital manages a concentrated Europe-focused investment fund, focused on entrepreneurial small and midcap companies. Sign up for the newsletter.
Company Info
tonies SE, through its subsidiaries, develops, produces, and distributes digital, cloud based, and interactive audio platform and entertainment system for children in Germany, the United States, the United Kingdom, France, and internationally.
Market Cap
EUR 1.2B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
26.78
P/E
105.40
EV/Sales
1.83
Sector
Leisure Products
Category
growth
Norbury Capital Portfolio Holding: Tonies SE
TNIE.F: Razor/razorblade audio-box & figurines for kids w/ Disney/Paw Patrol IPs. 12m boxes sold, 50%+ German penetration, ~€200 add'l spend/buyer. 36% organic growth (40% US), targets ~30%. EBITDA margin hitting double digits (25%+ in DACH). Pokémon & Tonieplay launching. 13x EV/EBITDA w/ 30%+ growth. Geographic & content runway long.
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