- Group revenue up 16% to £229 million
- Net ticket sales increased year-on-year by 13%
- Shares up 36% over the past year
Shares in Trainline (TRN) were up 10% this morning to 332p as the rail booking site and app had a better-than-expected first half.
Group revenue increased by 16% to £229 million for the six months ending 31 August despite ongoing UK rail strikes.
Net ticket sales increased year-on-year by 13% to £3 billion which included UK consumer up 15%, international up 4% and Trainline solutions up 19%.
Trainline raised its full year 2025 guidance – which translated into a rough 5% upgrade to Shore Capital's full year 2025 adjusted EBITDA (earnings before interest taxation depreciation and amortisation) forecast.
INTERNATIONAL SALES GET A LIFT
Trainline’s international performance continues to strengthen especially in Spain and Italy with 67% of sales going through the app.
Russ Mould, investment director at AJ Bell, said: ‘A tailwind is increased carrier competition in mainland Europe, primarily in Spain and Italy. Trainline has been able to position itself as an easy way to navigate the increasingly complex travel system and get good deals.
‘Investment a few years ago in raising awareness of its brand in Spain is now paying off, having tripled net ticket sales in the last two years in that country.’
However, net ticket sales in France and Germany fell by 3% year-on-year due to a previously flagged pause in marketing and deprioritisation of the countries by the group.
UNMATCHED PRESENCE IN THE UK MARKET
Shore Capital analysts highlights that Trainline has an unmatched presence in the UK market with growth expected to be supported by the increasing digitalisation of the industry. It adds that ‘there is a market share opportunity developing from Europe and inbound foreign travel’.
DISCLAIMER: Financial services company AJ Bell referenced in this article owns Shares magazine. The author of this article (Sabuhi Gard) and the editor (Tom Sieber) own shares in AJ Bell.
