Revenue for the manufacturer of the beloved Playmobil figures, the Horst Brandstätter Group, fell to €409 million(€480 million) in the 2024/2025 financial year, the company said on Wednesday.
It marked another significant blow for the German toymaker, after it had reported sales worth €490 million for the 2023/24 financial year, down from around €760 million in 2020/21.
"The decline in turnover has slowed significantly compared to previous years," the company said in a statement.
"As part of the strategic realignment, comprehensive structural adjustments involving substantial investment were implemented, and it was accepted that the result would remain negative for the time being."
Brandstätter has recently cut around 700 jobs in Germany and abroad and aims to return to profitable growth in the medium term.
In the current financial year, the Playmobil brand aims to tap into new target groups, including through a new line of national football team figurines.
Playmobil figures of all Bundesliga teams are set to follow in September.
"The intensive development work of recent years is increasingly paying off," said Playmobil chief executive Bahri Kurter. "We can see that our new products and partnerships are generating significant interest in the market and strengthening our brand presence."
The company will cease production of Playmobil figures in Germany in June, with up to 350 people to lose their jobs.
Production is set to continue in Malta and the Czech Republic.
