The leading independent rail and coach travel platform selling tickets to millions of customers worldwide has announced a return to profitability.
In its latest trading statement, Trainline says it has seen strong recovery in H1 as rail passengers return and increasingly shift to online and digital tickets.
In the trading performance for the first six months of the financial year covering 1st March 2021 to 31st August 2021, the highlights were:
· Group net ticket sales in Q2 recovered to 71% of same period in FY2020, their highest level since start of the COVID pandemic:
o Top 4 domestic markets in International (France, Italy, Germany, Spain) returned to growth in Q2, up 5% overall versus the same period 2 years ago
o UK Consumer recovered to 95% in Q2 versus the same period 2 years ago and returned to growth in August
· Accelerated shift to digital ticketing continues, with UK eticket penetration increasing to 40% in Q2 (30% in FY2021; 21% in FY2020)
· Return to profitability in H1 FY2022 – adjusted EBITDA range of £13-15 million
Jody Ford, CEO of Trainline said: “It is reassuring to see demand for rail travel coming back strongly in all markets across Europe, following an incredibly tough period for the industry. While it remains unclear how long it will take for demand to fully return, we remain positive about the long term tailwinds for the industry, including the significant planned investment in rail capacity, particularly on high speed routes, and a growing awareness of the environmental benefits of travelling by train versus other less sustainable modes of transport.
“As COVID restrictions ease, Trainline is taking a leading role in supporting the rail industry in its recovery, leveraging our investment in digital ticketing, product innovation and marketing. This is reflected in the recovery of our UK Consumer business – accelerating the market shift to etickets, which now make up 40% of all tickets sold in the UK – and reflected in our return to growth across our top four domestic markets in International, including Italy which grew 95% in Q2 versus two years ago.”
Photo credit: Trainline