Company summary
Trainline operates a digital platform for booking rail and coach travel. It sells tickets through its app and websites in the UK and across continental Europe, earning commissions and related booking revenue.
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TRN
Trainline
Industrial Transportation
- Index
- FTSE 250
- ISIN
- Not specified
- Book status
- 2026 edition — current
Key activities
Online and mobile rail and coach ticket sales, journey planning, digital ticketing, railcard services and technology distribution for transport operators.
Key markets
The United Kingdom and European rail markets, with growing international operations in Spain, Italy, France and other countries.
Key drivers
Passenger volumes, online ticket adoption, international expansion, commission rates, app usage, rail competition and operating leverage.
Key risks
UK rail reform, government-backed ticketing competition, contactless travel, rail strikes, travel disruption, regulatory change and weaker passenger demand.
Recent Developments
6 May 2026: FY2026 net ticket sales reached £6.32bn and adjusted EBITDA rose 11% to £177m, but FY2027 ticket-sales guidance of £6.2-6.45bn disappointed the market. Expansion of contactless travel in London and the proposed Great British Railways ticketing app create UK headwinds, making international growth increasingly important into 2027.
Dividend notes
Trainline does not currently pay an ordinary dividend. Surplus capital is instead being returned principally through share buybacks while the company continues to invest in international growth.
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