Trainline sees ticket sales recover and losses narrow as the easing of lockdown restrictions gives it a timely boost
Rail and coach ticket platform Trainline saw revenue surge over 150 per cent to £78million in the six months to 31 August.
The group saw net ticket sales rise by 179 per cent to £1billion over the period, marking 79 per cent of its pre-pandemic level.
With more passengers travelling again, Trainline reported an operating loss of £9million, against a £43million loss in the first half of last year.
Surge: Rail and coach ticket platform Trainline saw revenue surge over 150% to £78m in the six months to 31 August
The company was also able to trim its net debt down from £241million to £169million in the six month period.
Trainline said it saw domestic and international markets returning to growth and an accelerated shift to online and digital ticket sales.
Jody Ford, chief executive of Trainline: said: ‘Our consumer business returned to growth in August versus pre-Covid levels, with train travelers increasingly opting for digital tickets.
‘Encouragingly our customers are now using Trainline even more frequently, drawn to new features such as our new 2-click commuter experience and digital railcards.
‘Beyond the UK, we see significant growth opportunity in Europe.
‘With new entrant train companies driving more journey options and lower prices in our key markets, customers are increasingly turning to Trainline to help them easily find the best fares and support them as they travel.
‘This was particularly evident in Italy in H1, where our Q2 net ticket sales doubled compared to pre-Covid times.’
Within its UK operations, the company saw a 29 per cent increase in customers using Trainline to buy tickets two or more times a month.
In Italy, the group saw a 95 per cent hike in net ticket sales in the second quarter, when compared against the same period two years ago.
In Spain, Trainline tripled transactions on the Madrid to Barcelona route in the second quarter, when viewed against the same period before the pandemic two years ago.
Shares in FTSE 250-listed Trainline are currently up 2.92 per cent or 9.40p to 331.80p. A year ago the group’s share price was around the 268.00p mark. The group has opted not to declare an interim dividend.
The company affirmed guidance delivered in September for annual net ticket sales in the range of £2.4billion to £2.8billion.
Russell Pointon, a director at Edison Group, said: ‘Looking ahead, Trainline’s operating model is well-placed to take full advantage of the shift to digital tickets. This trend has seen recent acceleration, with UK industry online penetration rising to 50%. Moreover, the Group’s strategic updates like 2-click rebooking, flexi tickets and digital railcards are an agile response to the rise of hybrid working.’