Trainline (LSE:TRN), the online rail and travel platform, said it expects net ticket sales of £6.2-6.45 billion and revenue of £440-455 million in FY2027, and that adjusted EBITDA should be c.2.9% of net ticket sales with International Consumer expected to breakeven.
For the year to 28 February, group net ticket sales rose 7% to £6.3 billion, revenue increased 2% to £453 million, adjusted EBITDA rose 11% to £177 million and operating profit climbed 43% to £122 million.
“This has been a year of strong delivery for Trainline; with record net ticket sales and revenue, and continued double-digit growth in profitability,” said Jody Ford, CEO.
By business unit, UK Consumer net ticket sales grew 6% to £4.1 billion with revenue down 2% to £204 million and adjusted EBITDA of £87 million, International Consumer net ticket sales grew 3% to £1.1 billion with revenue of £60 million and an adjusted EBITDA loss narrowed to £11 million, and Trainline Solutions’ net ticket sales rose 14% to £1.1 billion with adjusted EBITDA up 11% to £101 million.
Adjusted basic EPS rose 23% to 23.6p (basic EPS 19.4p), adjusted free cash flow was £66 million (down £6 million) and the group has repurchased £94 million of shares under the current £150 million programme, £294 million in total since September 2023 (c.23% of issued share capital).
Trainline said operating leverage and cost discipline more than offset a c.0.25% net reduction in the headline commission rate effective April 2025, highlighted growth in ancillary revenues and AI initiatives, and welcomed the government’s commitment to open Delay Repay to third-party retailers once GBR launches.
