15th Mar 2023 11:36
(Alliance News) - Trainline PLC on Wednesday said it achieved record ticket sales in its most recently ended financial year, despite the damage caused by industrial action in the UK.
The rail and coach ticket platform said net ticket sales in the year that ended February 28 totalled GBP4.32 billion, representing growth of 75% year-on-year from GBP2.52 billion the year prior.
Trainline said this came in slightly behind its guidance expectations due to the impact of industrial action in the UK during the year. Nonetheless, Chief Executive Jody Ford said the figure was a record for the group.
Revenue surged by 74% to GBP327 million from GBP189 million the previous year on the back of the strong ticket sales growth.
UK Consumer revenue grew 58% against the previous year. Trainline said this reflected the continued recovery in underlying passenger volume and a significant step up in industry e-ticket usage, despite the impact of the rail strikes.
International Consumer revenue more than tripled, driven by strong growth on routes where new carrier competition has emerged and by the resurgence of global inbound travel, the company explained. Trainline noted that International Consumer now is a EUR1 billion net ticket sales business for the company.
Adjusted earnings before interest, tax, depreciation and amortisation are expected in-line with market expectation. It also is expected to be in line with company guidance, which anticipates adjusted Ebitda at 1.9% to 2.1% of guided net ticket sales.
Adjusted Ebitda in financial 2022 was GBP39 million. Trainline's guidance for financial 2023 implies adjusted Ebitda of GBP82 million to GBP91 million.
Shares in Trainline were up 2.2% at 257.26 pence on Wednesday morning in London.
Trainline will publish its full-year results on May 4.
By Heather Rydings, Alliance News senior economics reporter
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