UPDATE TO MARKET GUIDANCE
28th October 2024
Trainline plc ("Trainline", the "Company" or the
"Group") today provides an update on its previously
stated guidance range for FY2025, which was originally set in May
2024 and subsequently improved in September 2024. The Company
intends to provide further detail in its H1 FY2025 results
announcement, which is due to be published on 7th November 2024.
All figures in this document are unaudited.
Financial highlights in H1
FY2025:
· Group net ticket
sales up 14% year on year (YoY) 1 to £3.0 billion, and revenue up
17% YoY 1 to £229 million
· Adjusted
EBITDA2 up 44% to £82 million
· Operating free
cashflow of £100 million; leverage ratio down to 0.2x adj. LTM
EBITDA3 from 0.4x at H1 FY2024
Improved guidance
range:
Trainline has delivered strong growth in H1 FY2025
and is increasingly benefiting from operating leverage as it
scales. Following a strong start to H2, the Company is today
revising upwards its previously stated guidance range, which was
originally set in May 2024 and subsequently improved in September
2024. In FY2025, Trainline now expects to generate:
·
Net ticket sales YoY growth of between
+12% and +14% (previous guidance of growth at top end of 8% to 12%
range)
· Revenue YoY growth of
between +11% and +13% (previous guidance of growth at top end of 7%
to 11% range)
· Adjusted EBITDA of
c.2.6% of net ticket sales (previous guidance was for adj. EBITDA
to exceed 2.5%)
Footnotes:
1. Constant currency
("CCY") YoY growth calculated for International Consumer and
Trainline Solutions using the prior period average €/£ exchange
rate applied to current year reported numbers.
2. Adjusted EBITDA
(earnings before interest, tax, depreciation and amortisation)
excludes share-based payment charges and exceptional
items.
3. Net debt divided
by adjusted EBITDA for the last twelve months
Notice of
results
The Company will publish its Half
Year results for the first half of the financial year 2025
(the six-month period running from
1st March 2024 to
31st August 2024) on Thursday
7th November 2024.
The Half Year
results will be published at 07.00am (UK time) through the
regulatory news service (RNS) and on the Company's
website. This will be followed by an analyst presentation
at 8.30am (UK time) which will be accessible through
the Company's website. Please
register to participate here:
https://webcast.openbriefing.com/trainlinehy25/
Enquiries
For investor enquiries, Andrew
Gillian
investors@trainline.com
For media enquiries, Hollie
Conway
press@trainline.com
Brunswick Group
Simone Selzer
trainline@brunswickgroup.com
/ +44 207 404 5959
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.
