5th May 2022 11:04
(Alliance News) - Trainline PLC on Thursday posted a narrowed annual loss, as significantly higher net ticket sales signal a recovery for the rail industry from the pandemic.
For the year ended February 28, the firm narrowed its pretax loss to GBP15.5 million from GBP106.8 million a year prior. Revenue rose to GBP188.5 million from GBP67.1 million as net ticket sales jumped to GBP2.52 billion from GBP783 million a year ago.
Trainline shares were 6.1% higher at 294.80 pence each in London on Thursday morning.
The online train and coach ticketing platform cut its net debt to GBP90 million from GBP241 million. Adjusted earnings before interest, taxes, depreciation, and amortisation swung to a profit of GBP39.0 million from a loss of GBP24.9 million.
For its current financial year, the firm expects revenue to grow further to between GBP280 million and GBP310 million, higher than the GBP260.8 million it posted in its financial year ended February 2020, before Covid restrictions were first introduced in the UK.
The company sees its ticket sales climbing to between GBP3.8 billion and GBP4.2 billion, also above financial 2020 when it posted GBP3.73 billion in net ticket sales. Adjusted Ebitda will be around GBP70 million to GBP75 million, the firm said, which is lower than GBP85.2 million in financial 2020.
By Tom Budszus; [email protected]
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