Key facts
- Trainline's annual ticket sales missed expectations due to UK rail strikes.
- Rail strikes cost Trainline £5 million to £6 million per strike day.
- Net ticket sales rose 72% to £4.3 billion in the year to February 28.
- Growth versus pre-Covid levels was 16%, below the 18%-27% target.
- International consumer ticket sales exceeded €1 billion for the first time.
- Group revenues increased 74% year-on-year to £327 million.
Trainline has reported that its annual ticket sales fell short of expectations, primarily due to the impact of ongoing industrial action on UK railways. The online ticketing company stated that these rail strikes cost it between £5 million and £6 million in gross sales impact on average per strike day.
Despite the setbacks, the group announced record net ticket sales of £4.3 billion in the year to February 28, a 72% increase year-on-year. However, when compared to pre-pandemic levels, growth stood at 16%, falling slightly behind Trainline's projected range of 18% to 27%. The company attributed this shortfall primarily to the industrial action.
International consumer travel demand was a key driver of growth, with overseas ticket sales up 95% in a three-year comparison and the international consumer business becoming a one billion euro entity for the first time. UK consumer ticket sales saw a 37% increase against 2019-20 levels, though growth was tempered by the strikes and a marginally softer demand for discretionary longer-distance travel in early 2023.
Overall group revenues rose 74% year on year to £327 million, representing a 25% increase compared to 2019-20. Trainline expects its underlying earnings for 2022-23 to be in line with market expectations. Jody Ford, chief executive of Trainline, highlighted the arrival of carrier competition on key European routes, particularly in Spain, as a significant factor in positioning Trainline as an aggregator of choice.