Trainline Reports Strong Growth in Pretax Profit for H1 2024

By Anthony O. Goriainoff

Trainline has revealed a significant increase in pretax profit for the first half of fiscal year 2024. The company, known for its digital platform that facilitates the purchase of rail and bus tickets, stated that the growth is expected to continue in the second half as rail passenger numbers have nearly fully recovered from the effects of the pandemic.

Impressive Financial Performance

During the six months ending on August 31, pretax profit reached £18.1 million ($22 million), compared to £13.6 million from the previous year. This indicates a notable improvement in financial performance. Additionally, revenue rose to £197 million from £165 million, while net ticket sales increased to £2.65 billion from £2.16 billion.

Strong Growth in Consumer Net Ticket Sales

Trainline experienced a 19% rise in net ticket sales within the U.K., with a total of £1.71 billion. International consumer net ticket sales also saw impressive growth, increasing by 24% to reach £558 million. This upward trend reflects the ongoing recovery in the rail industry and the increasing popularity of digital ticketing among customers.

International Expansion Driving Growth

Europe, particularly Spain and Italy, has been a key market for Trainline's expansion efforts. Combined net ticket sales in these countries surged by 50%. Spain witnessed particularly substantial growth after liberalizing its high-speed routes. However, growth in France was impacted by a temporary pause in brand marketing activities ahead of the country's wider rail market liberalization.

Revised Guidance for Fiscal Year 2024

Based on the strong performance and positive outlook, Trainline has revised its guidance for fiscal year 2024. The company now expects on-year net ticket sales growth between 17% and 22%, compared to the previous guidance of 13% to 22%. Similarly, revenue growth is projected to be between 15% and 20%, compared to the earlier estimate of growth within the 13% to 22% range.