Trainline confirms guidance as ticket sales and revenue beat pre-pandemic levels By Proactive Investors
Economy 18 minutes ago (Sep 15, 2022 08:42)
© Reuters. Trainline confirms guidance as ticket sales and revenue beat pre-pandemic levels
Trainline PLC said ticket sales and revenue more than doubled in the past six months, reflecting a “strong post-Covid recovery” for the rail industry across Europe.
The online provider of rail tickets reconfirmed improved guidance expectations for the year to February 2023, with net ticket sales expected to grow between 18% and 27% on pre-pandemic levels, revenue to grow between 22% and 31%, and adjusted EBITDA to grow between 1.9% and 2.1%.
For the six months to the end of August, net ticket sales grew 116% year-on-year to £2.2bn in the first half of 2023, 17% higher than the pre-Covid period in the 2019-20 financial year.
As ticket sales recovered, revenue jumped 112% to £165mln, 28% above the first half of FY2020.
UK consumer net ticket sales were £1.4bn, 100% higher year-on-year, and 45% higher than first half of fiscal 2020, reflecting the continued recovery in passenger volume, with UK industry passenger volume peaking at 95% of pre-Covid levels in August, “its highest level since March 2020.”
UK consumer revenue increased 93% year-on-year to £88mln, 30% higher than first half of fiscal 2020.
International consumer were up 81% to £452mln compared to first half of fiscal 2020, driven by a “resurgence of global inbound customers from the US”.
“Our strong performance in the first half was led by international consumer, where new product launches and brand campaigns are helping drive increased awareness of Trainline and record levels of customer acquisition in France and Italy,” said Jody Ford, chief executive.
This month will see the launch of ticket sales with new Spanish high-speed rail operator Iryo, ahead of its launch later this year, Ford added.
Trainline said it has revised its segmentation reporting, primarily to improve the allocation of costs between its business units and better reflect the operation of the business.
Shares of the company were trading down 1.93% to 357.26p.
Trainline confirms guidance as ticket sales and revenue beat pre-pandemic levels
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