Source - Alliance News

Trainline PLC said on Thursday ahead of its full-year results that ticket sales in financial 2022 were well on their way to recovery from the impacts of the pandemic.

The London-based rail and coach tickets app provider said net ticket sales had recovered to 68% of pre-Covid levels, with £2.52 billion sold in its year ended February 28. This was over triple the £783 million sold in financial 2021.

Shares in Trainline were up 4.4% at 218.20 pence each in London on Thursday morning.

In the third quarter of the financial year, ticket sales were 86% of those recorded two years before; the highest level since the onset of the pandemic.

The onset of Omicron in the fourth quarter somewhat damped this progress, with sales scaling back to 75% of pre-Covid levels.

Total revenue for the year was £189 million, nearly tripled from £67 million in financial 2021.

It expects adjusted earnings before interest, tax, depreciation and amortisation to come in ‘at the top end’ of the previous guidance range of £35 million to £40 million for the year.

Trainline said its plans to accelerate international growth were ‘well underway’ following the acquisition of Trenitalia France, and its first major brand campaign in Italy.

‘I am pleased with our performance this year, which was in line with our expectations despite the short-term impact of Omicron in the fourth quarter. Playing a leading role in the wider industry recovery, we encouraged people back onto trains and increasingly towards digital ticketing,’ said Chief Executive Officer Jody Ford.

Full-year results for financial 2022 will be released on May 5.

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