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Online rail and coach ticketing platform Trainline has reported a 24% increase in revenue to £261m, with net ticket sales up 17%, in its full year results for the year ended 29 February 2020.
The rise in revenue was at the top end of guidance, Trainline said, while the higher net ticket sales to £3.7bn were in line with guidance and reflected increased mobile demand from greater e-ticket adoption in UK and strong customer acquisition in international.
The company announced adjusted EBITDA was up 62% to £85m during the year, driven by volume growth and the operating leverage achieved across its cost base, while operating free cashflow of £59m was driven by strong adjusted EBITDA performance and reduced capital expenditure.
It reported an operating profit of £2m and loss after of tax of £81m, citing exceptional costs relating to the IPO.
In an update on Covid-19, it said this has had a significant impact on trading in the first quarter of 2021 to date, with UK and European passenger volumes currently down more than 95%.
Chief executive Clare Gilmartin said: 'We are pleased to have delivered a strong performance over this past year, in particular to have exceeded expectations set at IPO for FY20 revenue growth and EBITDA. We have also made significant progress against our strategic priorities.'
She added: 'We remain confident that the long-term growth opportunity for our business remains unchanged, and are committed to our long term growth plans.'
At 9:22am: (LON:TRN) Trainline PLC share price was -3.5p at 346.5p