- Net ticket sales up 72%
- Shrugs of UK rail strikes last year
- Circa 200 million train tickets sold across Europe
Shares in Trainline (TRN) were up nearly 15% to 278p in morning trading as the ticketing platform said that the travel recovery was well under way post pandemic.
Trainline reported a 72% rise in net ticket sales of £4.3 billion for the year ending 28 February 2023.
Jody Ford, CEO of Trainline said: ‘Trainline is building great momentum, delivering a record operating performance this year, selling circa 200 million train tickets across Europe, and expecting further strong growth in the year ahead.
‘We remain focused on our purpose, encouraging people to make greener travel choices. With trains emitting at least 70% less CO2 than cars and planes, sustainability is rail’s superpower to attract new customers and create long-term industry growth.’
Operating profit was up £28 million, from a £10 million operating loss in the prior year.
SHRUGS OFF UK RAIL STRIKES
Despite a series of rail strikes in the UK last year, the ticketing platform said that UK and international consumers helped drive up revenue to £327 million year-on-year, a rise of 74%.
It is not the end of rail strikes in the UK, however, with a series of 24-hour walk-outs planned on 12 May, 31 May, and 3 June, which will disrupt the FA Cup Final and Eurovision Song Contest.
GROWING BRAND AWARENESS
Trainline said its focus on commuters and the UK digital railcard helped drive up customer transactions as well as growing its brand awareness through its app.
The ticketing platform said the ‘Came by Train’ sustainability campaign became ‘a galvanizing force within UK rail’.
This campaign involved Trainline partnering with the government and rail industry to make the ‘environmental case for rail.’
Other ticketing highlights included doubling its UK commuter segment share compared to net ticket sales for the full year 2020, including four million set ups of ‘Favourites’ journey personalisation feature, plus good early demand for digital season tickets.
Foreign travel sales almost doubled compared to net ticket sales for the full year 2020, with particularly strong growth to US-inbound customers.
STEAMING AHEAD
Russell Pointon, director of consumer at Edison Group, said: ‘Trainline expects further ticket sales and revenue growth of 13% to 22% in its full year 2024 outlook, and with its considerable expansion potential into new and existing European markets, it looks like the ticketing provider may just steam ahead to even higher profit growth given management’s guidance on profit margin.’
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