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Trainline
Trainline (TRN) investor relations material
Trainline H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary5 Nov, 2025
Executive summary
Delivered robust first-half performance with 8% net ticket sales growth to £3.25 billion, improved profitability, and strong cash generation, leading to upgraded full-year profit guidance.
All three business units—UK Consumer, International Consumer, and Trainline Solutions—demonstrated growth, with strategic focus on digital innovation, B2B expansion, and aggregation in liberalizing European markets.
Launched digital Pay-As-You-Go trial in the UK, leveraging proprietary geolocation technology and enhancing service for commuters.
Enhanced share buyback program announced, reflecting confidence in outlook and strong cash generation.
Europe’s most downloaded rail app, with 27 million active customers and continued B2B and international expansion.
Financial highlights
Net ticket sales grew 8% year-over-year to £3.25 billion; revenue up 2% to £235 million; gross profit up 6% to £193 million.
Adjusted EBITDA increased 14% to £93 million, exceeding prior guidance; adjusted EPS up 27% to 12.6p.
Adjusted free cash flow for the half was £79 million.
Cost optimization delivered up to £12 million in annualized savings, offsetting UK commission rate reduction.
Basic EPS climbed 54% to 11.6p; operating profit surged 38% to £68 million.
Outlook and guidance
Full-year FY2026 guidance: net ticket sales growth of 6–9%, revenue growth of 0–3%, and adjusted EBITDA growth of 10–13%, raised from previous 6–9%.
Guidance reflects strong H1 performance, improved profitability, and impact of TFL contactless ticketing rollout.
Continued focus on cost discipline and marketing optimization, especially in international markets.
Detail GBR retail market safeguards
What drives the International Consumer EBITDA loss?
Quantify Project Oval's UK NTS risk
GBR retail unit separation: key implications?
Digital pay-as-you-go trial: expansion scope?
Spain strategy shift: rationale and impact?
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Next Trainline earnings date
H2 20266 May, 2026
Trainline
Next Trainline earnings date
H2 20266 May, 2026
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Frequently asked questions
Trainline Plc provides an online platform for train and bus ticket booking across Europe. The company offers digital services that enable customers to plan journeys, compare fares, and purchase tickets via web and mobile applications. It serves individual travelers and corporate clients. The company is headquartered in London, United Kingdom, and its shares are listed on the LSE.
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