TIDMTRN
RNS Number : 6316L
Trainline PLC
14 September 2021
TRAINLINE PLC TRADING STATEMENT AND NOTICE OF HALF YEAR
RESULTS
14(th) September 2021
Strong recovery in H1 as rail passengers return and increasingly
shift to online and digital tickets
Trading performance for first six months of FY 2022
Trainline plc ("Trainline", the "Company" or the "Group"), the
leading independent rail and coach travel platform selling tickets
to millions of customers worldwide, today provides an update on its
trading performance for the first six months of financial year 2022
(1 (st) March 2021 to 31(st) August 2021).
Highlights:
-- Group net ticket sales in Q2 recovered to 71% of same period
in FY2020, their highest level since start of the COVID
pandemic:
o Top 4 domestic markets in International (France, Italy,
Germany, Spain) returned to growth in Q2, up 5% overall versus the
same period 2 years ago
o UK Consumer recovered to 95% in Q2 versus the same period 2
years ago and returned to growth in August
-- Accelerated shift to digital ticketing continues, with UK
eticket penetration increasing to 40% in Q2 (30% in FY2021; 21% in
FY2020)
-- Return to profitability in H1 FY2022 - adjusted EBITDA range of GBP13-15 million
Jody Ford, CEO of Trainline said:
"It is reassuring to see demand for rail travel coming back
strongly in all markets across Europe, following an incredibly
tough period for the industry. While it remains unclear how long it
will take for demand to fully return, we remain positive about the
long term tailwinds for the industry, including the significant
planned investment in rail capacity, particularly on high speed
routes, and a growing awareness of the environmental benefits of
travelling by train versus other less sustainable modes of
transport.
"As COVID restrictions ease, Trainline is taking a leading role
in supporting the rail industry in its recovery, leveraging our
investment in digital ticketing, product innovation and marketing.
This is reflected in the recovery of our UK Consumer business -
accelerating the market shift to etickets, which now make up 40% of
all tickets sold in the UK - and reflected in our return to growth
across our top four domestic markets in International, including
Italy which grew 95% in Q2 versus two years ago."
H1 FY2022 vs H1 FY2020 (pre-COVID):
Six months ended 31 August 2021
Q1 FY2022 % of Q2 FY2022 % of H1 FY2022 % of
Q1 FY2020 Q2 FY2020 H1 FY2020
------------------- ---------- ----------- ---------- ----------- ---------- -----------
Net ticket sales
(GBPm)
UK Consumer 237 49% 479 95% 716 73%
Trainline Partner
Solutions 34 11% 67 23% 101 17%
---------- ----------- ---------- ----------- ---------- -----------
Total UK 270 34% 546 69% 816 51%
International 63 54% 120 84% 183 71%
---------- ----------- ---------- ----------- ---------- -----------
Total Group 334 37% 666 71% 1,000 54%
% of FY2020 represents percentage of net ticket sales vs
equivalent period two years ago (pre-COVID)
H1 FY2022 vs H1 FY2021:
Six months ended 31 August 2021
H1 FY2022 H1 FY2021 % YoY
------------------------------ ---------- ---------- ------
Net ticket sales (GBPm)
UK Consumer 716 218 +229%
Trainline Partner Solutions 101 23 +332%
---------- ---------- ------
Total UK 816 241 +239%
International 183 117 +56%
Total Group 1,000 358 +179%
---------- ---------- ------
Revenue (GBPm)
UK Consumer 62 19 +229%
Trainline Partner Solutions 7 6 +2%
---------- ---------- ------
Total UK 69 25 +172%
International 9 6 +57%
Total Group 78 31 +151%
---------- ---------- ------
Group net ticket sales recovered to GBP1.0 billion in H1, 179%
higher YoY, and 54% of the same period in FY2020. Net ticket sales
improved over the course of the half as COVID restrictions eased,
with Q2 at 71% of FY2020 sales, reaching their highest level in
August since the onset of COVID. As a result of the rebound in net
ticket sales, Group revenue recovered to GBP78 million, 151% higher
than the prior year.
UK Consumer net ticket sales were GBP716 million in H1, 229%
higher YoY, and 73% of the same period in FY2020. Net ticket sales
improved every month throughout the half, in Q2 recovering to 95%
of the same period in FY2020 and in August returning to
year-on-two-year (Yo2Y) growth, up 12%. UK Consumer revenue
recovered to GBP62 million, 229% higher than the prior year.
Trainline Partner Solutions (TPS) net ticket sales were GBP101
million in H1, 332% higher than prior year and 17% of the same
period in FY2020. While demand for business travel remained
subdued, TPS net ticket sales saw some improvement in Q2, reaching
23% of FY2020 levels. TPS revenue grew 2% year on year to GBP7
million, with increased net ticket sales offset by lower project
revenue from white label clients.
International net ticket sales were GBP183 million in H1, 56%
higher YoY, and 71% of the same period in FY2020. Net ticket sales
in Q2 reached 84% of FY2020 levels, with a return to growth in
Trainline's top four domestic markets (France, Italy, Germany,
Spain), up 5% overall on a Yo2Y basis - including Italy up 95% -
while demand from inbound customers to Europe has yet to return.
International revenue grew 57% YoY to GBP9 million.
Net debt reduced to GBP169 million at the end of August, from
GBP241 million at the end of February, benefiting from a working
capital inflow in the first half as net ticket sales recovered.
Outlook and guidance for financial year 2022
As a result of the Group's recovery, Trainline expects to return
to profitability in the first half, reporting adjusted EBITDA of
between GBP13-15 million.
There continues to be uncertainty around the pace and shape of
the market recovery. Assuming the recovery continues through the
second half, with no new lockdowns or COVID-related travel
restrictions, Trainline expects to generate for FY2022:
-- Net ticket sales in the range of GBP2.4-2.8 billion
-- Adjusted EBITDA of between GBP35-40 million. The adjusted
EBITDA guidance takes into account a planned increase in investment
in marketing and customer experience in International from H2
onwards, as Trainline strengthens its position as the marketplace
of choice for domestic rail travel across Europe.
Longer-term, Trainline continues to see considerable structural
tailwinds for its business and the wider rail industry. This
includes growing consumer awareness of the environmental benefits
of rail travel, significant levels of planned investment to grow
rail capacity, and the liberalisation of domestic rail markets
across Europe, with growing competition amongst carriers - notably
in Italy and Spain.
In addition, Trainline expects the shift to online and digital
ticketing to continue, in part supported by commitments made within
the Williams-Shapps white paper for the continued rollout of
digital ticketing across the UK. The company continues to engage
with the UK Government and the wider rail industry on how it can
support the delivery of these commitments.
Notice of half-year results
Trainline will publish its half-year results for the financial
year 2022 (the six-month period running from 1 (st) March 2021 to
31(st) August 2021) on Wednesday 3(rd) November 2021.
The full-year results will be published at 07.00am (UK time)
through the regulatory news service (RNS) and on the Company's
website , followed by an analyst presentation at 9.00am (UK time)
which will also be accessible through the Company's website.
Enquiries
For investor enquiries, Andrew Gillian investors@trainline.com
For media enquiries, Victoria Biggs +44 7850 205490 / press@trainline.com
Brunswick Group
Simone Selzer +44 207 404 5959 / trainline@brunswickgroup.com
About Trainline:
Trainline (www.trainline.com) is the leading independent rail
and coach travel platform selling rail and coach tickets to
millions of travellers worldwide, enabling them to seamlessly
search, book and manage their journeys all in one place via its
highly rated website and mobile app. Trainline is a one-stop shop
for rail and coach travel bringing together millions of routes,
fares and journey times from rail and coach carriers across
Europe.
This announcement includes forward-looking statements. These
forward-looking statements involve known and unknown risks and
uncertainties, many of which are beyond the Group's control and all
of which are based on the Directors' current beliefs and
expectations about future events. Forward-looking statements are
sometimes identified by the use of forward-looking terminology such
as "guidance", "believe", "expects", "may", "will", "could",
"should", "shall", "risk", "intends", "estimates", "aims", "plans",
"predicts", "continues", "assumes", "positioned", "targets" or
"anticipates" or the negative thereof, other variations thereon or
comparable terminology. These forward-looking statements include
all matters that are not historical facts and include statements
regarding the intentions, beliefs or current expectations of the
Directors or the Group concerning, among other things, the results
of operations, financial condition, prospects, growth, strategies,
and dividend policy of the Group and the industry in which it
operates. No assurance can be given that such future results will
be achieved; actual events or results may differ materially as a
result of risks and uncertainties facing the Group. Such risks and
uncertainties could cause actual results to vary materially from
the future results indicated, expressed, or implied in such
forward-looking statements. Such forward-looking statements
contained in this announcement speak only as of the date of this
announcement.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTDKNBPOBKDNCD
(END) Dow Jones Newswires
September 14, 2021 02:00 ET (06:00 GMT)
Trainline (LSE:TRN)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Trainline (LSE:TRN)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
