Trainline sales, revenues surge on UK, intl demand

14th Mar 2024 07:03

(Sharecast News) - Online ticketing platform Trainline reported sales at the top end of expectations as fewer strikes in the UK and competition for passengers in Italy and Spain saw revenues also beat forecasts.

Total group sales for the year to February 29 rose 22% to £5.3bn - above Trainline's already-improved guidance range of 17% to 22% - with international ticketing up 14% to £1bn and the UK surging 23% to £3.5bn.

Group revenue was £397m, 21% above guidance of between 15% - 20%.

"Our growth was fastest in Spanish domestic travel, which doubled year on year as we position ourselves as the aggregator of choice. Trainline's market share continues to rise on key routes like Madrid - Barcelona, which is now our third most popular route across all countries, including the UK," said chief executive Jody Ford.

The UK market continued to rally from volatile markets caused by the Covid pandemic and a wave of strikes by railway workers over pay as the government started to settle disputes.

Strike days fell to 25 in fiscal 2024 from vs 30 a year earlier and also lessened in financial impact on gross ticket sales to £4m from £5-6m.

UK Consumer growth also reflected more people switching to digital tickets, with industry eticket penetration at 47% of ticket sales in FY2024, up from 43%.

Reporting by Frank Prenesti for Sharecast.com