Business
Results for the six months ended 31 August 2020
Results for the six months ended 31 August 2020.
About this update from Trainline Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3090E\n Trainline PLC\n 05 November 2020\n \n \n \n \n \n \n \n 5 November 2020\n \n \n Trainline plc \n \n \n Results for the six months ended 31 August 2020\n \n While conditions remain challenging, Trainline is well positioned to return to growth when the market recovers\n \n H1 FY2021 summary financial highlights:\n \n \n \n \n \n \n £m unless otherwise stated: \n \n \n \n \n H1 2021\n \n \n \n \n H1 2020\n \n \n \n \n Variance\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Net ticket sales \n \n \n \n \n 358\n \n \n \n \n 1,844\n \n \n \n \n (81)%\n \n \n \n \n \n \n Revenue \n \n \n \n \n 31\n \n \n \n \n 129\n \n \n \n \n (76)%\n \n \n \n \n \n \n Adjusted EBITDA(1)\n \n \n \n \n (16)\n \n \n \n \n 42\n \n \n \n \n (58)\n \n \n \n \n \n \n Operating loss\n \n \n \n \n (43)\n \n \n \n \n (8)\n \n \n \n \n (35)\n \n \n \n \n \n \n Adjusted basic (loss)/earnings per share (pence)\n \n \n \n \n (6.2)p\n \n \n \n \n 3.6p\n \n \n \n \n (9.8)p\n \n \n \n \n \n \n Basic loss per share (pence)\n \n \n \n \n (8.1)p\n \n \n \n \n (20.3)p\n \n \n \n \n +12.2p\n \n \n \n \n \n \n Operating free cash flow\n \n \n \n \n (80)\n \n \n \n \n 60\n \n \n \n \n (140)\n \n \n \n \n \n \n Net debt\n \n \n \n \n (166)\n \n \n \n \n (59)\n \n \n \n \n (107)\n \n \n \n \n \n \n \n \n \n Results summary:\n \n \n · \n Significant impact on rail passenger numbers from COVID-19 lockdowns and virus containment measures across the UK and Continental Europe\n \n \n · \n H1 Group net ticket sales of £358 million was 19% of the equivalent prior year period and revenue of £31 million was 24% \n \n \n · \n Quick and decisive steps taken to mitigate impact of COVID-19, scaling back monthly cash burn to c.£5 million3 to deliver Group adjusted EBITDA loss of £16 million and liquidity headroom of £162 million4\n \n \n · \n Encouraging performance in Q2, with Trainline recovering as trading conditions improved, reflecting an accelerated shift to online and digital ticketing: \n \n \n o \n International led the recovery, returning to growth in the top 3 domestic markets \n \n \n o \n UK Consumer net ticket sales recovering faster than the market at 30% vs prior year period vs. industry passenger volume at 24%2\n \n \n o \n New customer rebounded strong - new ap...