Trainline plc, a leading independent rail and coach travel platform, released its financial results for the twelve months ended February 28, 2025. The company reported strong financial performance, with a 12% year-over-year increase in net ticket sales and revenue, reaching £5.9 billion and £442 million, respectively. Adjusted EBITDA rose by 30% to £159 million, reflecting effective cost management and operating leverage. The companys operating profit increased by 54% to £86 million, while basic earnings per share grew by 80% to 13.1p. Trainlines strategic highlights include being Europes most downloaded rail app with a total active customer base of 27 million. The company is driving the digitization of UK rail, with 18 million active customers and an increase in eticket penetration. In addition, Trainline is pursuing significant long-term opportunities in Europe, particularly in Spain, France, and Italy, where liberalized high-speed routes are expected to generate €12 billion by 2030. The company also scaled its International B2B Distribution through its Global API, resulting in a 63% increase in net ticket sales. Trainlines outlook for FY2026 includes expected net ticket sales growth of 6% to 9% and adjusted EBITDA growth of 6% to 9%, in line with net ticket sales.
| Financials and Debt | FY2025 | FY2024 |
|---|---|---|
| Net Ticket Sales | 5,907,443 | 5,295,072 |
| Revenue | 442,095 | 396,718 |
| Cost of Sales | (89,782) | (91,433) |
| Gross Profit | 352,313 | 305,285 |
| Administrative Expenses | (266,735) | (249,706) |
| Adjusted EBITDA | 159,135 | 122,133 |
| Depreciation and Amortization | (43,167) | (41,662) |
| Share-based Payment Charges | (21,445) | (22,629) |
| Exceptional Items | (8,945) | (2,263) |
| Operating Profit | 85,578 | 55,579 |
| Net Finance Costs | (4,693) | (7,464) |
| Profit Before Tax | 80,885 | 48,115 |
| Income Tax Expense | (22,537) | (14,129) |
| Profit After Tax | 58,348 | 33,986 |
| Net Debt | (83,395) | (63,943) |