Trainline lifts guidance after surge in demand led by US visitors
Online rail ticketing platform Trainline on Wednesday lifted annual guidance after a bigger-than-expected surge in demand for travel, particularly from US visitors.
The company now sees net ticket sales growth of between 18% and 27% versus pre-Covid fiscal 2020. It also expects revenue growth of between 22% - 31% and adjusted core earnings as a percentage of net ticket sales of between 1.9% - 2.1%.
Net ticket sales in the four months to June 30 were up 16% from two years ago, reflecting a faster-than-anticipated recovery in rail passenger volume across Europe - including a notable resurgence of inbound customers from the US. - as well as the benefit of Trainline increasing its investment in its International business, the company said.
“More and more people are recognising that travelling by train is better for the environment and the best way to travel cross-country and cross-border at speed ... Not only is domestic rail travel rebounding at an impressive rate across Europe, but tourists are also returning strongly, with Americans leading the way,“ said chief executive Jody Ford.
“Tourist destinations across the country should be preparing for an influx of American visitors this summer. Not only is there pent-up demand from the end of Covid travel restrictions, but our US guests are also showing a desire to travel sustainably as more explore the country by train than ever before," added chief data officer Mike Hyde.
Reporting by Frank Prenesti at Sharecast.com