Slide 1: Europe's most downloaded rail app
Investor Presentation Europe’s most downloaded rail app First published: 4 July 2023 Updated: 4 July 2024
Slide 2: Disclaimer
Disclaimer This presentation (the “Presentation”) has been prepared by Trainline plc (the “Company” and, together with its subsidiaries, the “Group”). For the purposes of this notice, “Presentation” means this document, its contents or any part of it, any oral presentation, any question or answer se
Slide 3: Europe's leading independent rail platform
We are Europe’s leading independent rail platform, in a market estimated to be around €55 billion.1 We enable millions of travellers to seamlessly search, book and manage their journeys through our highly rated Trainline website, mobile app and B2B partner channels. This presentation provides introd
Slide 4: Our purpose and vision
Our purpose Our vision Empowering greener Building the world’s travel choices number 1 rail platform
Slide 5: Our customer proposition
Our customer proposition ‘I Came By Train’ campaign to drive Route awareness of emission info sustainability of rail Digital ticketing including season tickets and ‘favourites’ Money-saving commute features e.g. personalisation SplitSave (split ticketing) All carriers, fares and Simple, intuitive ra
Slide 6: Modal shift a key way to reduce transport emissions
Modal shift a key way to reduce transport emissions Transport responsible for 26% of all emissions1 Switching to rail significantly reduces emissions2 Million tonnes of CO2 equivalent 300 7x 250 200 150 3x 100 50 0 1990 2000 2010 2020 Air Car Train Energy Transport 1. BEIS UK GHG emissions by sector
Slide 7: Our business segments
Our business segments International Trainline UK Consumer Consumer Solutions % of FY24 NTS: % of FY24 NTS: % of FY24 NTS: 65% 20% 15% Sells rail tickets on behalf of Sells rail tickets on behalf of Combines Platform One all UK rail companies and all the major European Rail technology with our Trainl
Slide 8: Strong growth in sales and revenue
Strong growth in sales and revenue Net ticket sales (£m) Revenue (£m) Adjusted EBITDA (£m) +22% +21% +42% 5,295 122 397 785 4,323 86 53 327 135 597 1,041 37 110 915 53 86 45 71 3,469 2,811 209 -17 172 -22 FY2023 FY2024 Int’l Consumer Adj. EBITDA: -£1 million excl. internal FY2023 FY2024 FY2023 FY202
Slide 9: How do we make money?
How do we make money? Case Study: FY 2024 UK Consumer revenue take rate (revenue as % of net ticket sales) Base commissions Other revenues Internal transaction fee Revenue take rate to access Platform One Average commissions Revenues from Contra revenue charge payable Revenue as a percentage of on n
Slide 10: Our growth opportunity
Our growth opportunity Significant addressable Best positioned to win in market: liberalising rail markets: c€55bn Remit to aggregate carriers in multiple geographies rail market in UK & Europe1 c€30bn Expertise and scale to invest Scalable tech platform optimised for markets where new across market
Slide 11: Our strategic priorities for growth
Our strategic priorities for growth Enhance the Build Increase customer Grow Trainline customer experience demand lifetime value Solutions • Continually improving and • Deploying our marketing • We want our customers to use • Underpinned by Platform One, optimising the user experience, playbook to d
Slide 12: A large UK rail market with £3 billion offline ticket sales headroom
A large UK rail market with £3 billion offline ticket sales headroom UK Consumer UK rail industry ticket sales by retail channel (£ billions): Expanding UK rail market 10.6 • Unlocking value & removing friction 1.7 for customers • Connecting customers with new 3.1 open access operators Shifting more
Slide 13: Trainline driving market shift to digital tickets in UK
Trainline driving market shift to UK Consumer digital tickets in UK On the day ticket purchases, including Eticket penetration in UK has more than tripled in commuters, represent next leg of growth… last five years… Eticket availability >90% Eticket 47% availability 63% 14% 21% FY2019 FY2024 Eticket
Slide 14: Liberalisation of European rail enabling Trainline's market fit
Liberalisation of European rail enabling Int e rna t io na l Consumer Trainline’s market fit • EU Fourth Railway Package mandating domestic market liberalisation • Proposed ramp up in carrier competition could support a golden age of rail travel • Carrier competition now nationwide in Italy and Spai
Slide 15: Focusing on €10bn priority markets where we can win today
International Focusing on €10bn priority markets where we can win today Consumer France Germany Rest of Europe (ex UK) rail market European €10bn €9bn €11bn c€15bn Future growth opportunity Spain Italy Foreign travel €2bn addressable market €4bn addressable market €4bn addressable market Doubled dom
Slide 16: Spain provides template for carrier competition and aggregation
Spain provides template for how carrier competition catalyses the need for a market aggregator like Trainline International Consumer Significant market benefits from Trainline honing aggregation Best positioned to become carrier competition playbook in Spain aggregator of choice in Europe €55bn Spai
Slide 17: Platform One underpins our B2C businesses and travel partners
Platform One underpins our B2C businesses as well as our travel Tra inline partners' online retailing So lut io ns Customer-centric ecommerce Leveraging machine learning, and Deep Inventory Connections layer now AI Large-scale multi tenanted rail platform with >350 searches per second 16
Slide 18: Appendix
Appendix Y trainline
Slide 19: Trainline: A Brief History
Trainline: A Brief History IPO: 18
Slide 20: Who we are: the Board of Directors
Who we are: the Board of Directors Brian was Chair of ASOS from 2012 to Jennifer was Executive VP of People Andy brings experience in e-commerce 2018 and Chief Executive Officer of for ARM Holdings plc from 2013 to and knowledge of technology and Amazon.co.uk from 2006 to 2011. He 2017. Prior to thi
Slide 21: Who we are: the Executive Team
Who we are: the Executive Team Before Trainline, Milena spent 12 years James’ team was awarded Legal Mike joined Trainline in 2021, bringing at Google Play, leading the Department of the Year by the British over 20 years’ experience of leading engineering teams in charge of app Legal Awards 2018 and
Slide 22: Our monetisation avenues
Our monetisation avenues Trainline Solutions UK Consumer International Consumer Consists of B2B business and tech platform (Platform One) • Commission on net ticket sales • Bespoke contracts negotiated on an • Commission rates on net ticket sales overall take rate basis. Combination • Commission rat
Slide 23: Glossary – key items: Revenue
Glossary – key items • Gross value of ticket sales to customers, less the value of refunds issued, during the accounting period excluding Value Added Tax UK Consumer in the United Kingdom (both to domestic and inbound customers) Net ticket • Gross value of ticket sales to corporates, less the value
Slide 24: Glossary – key items: Other administration
Glossary – key items • Discretionary and variable, costs incurred in relation to direct, performance-based streams (including PPC, retargeting, paid social Marketing costs and Display), as well as more general brand awareness campaigns System costs • Largely fixed in nature, relate to the costs of h
Slide 25: Revised segmentation of business units – September 2022
Revised segmentation of business units – September 2022 • New segmentation enhances disclosure with improved cost allocation between business units, better reflecting the operation of the business • Improved reporting transparency, splitting out marketing from other direct admin costs on face of seg
Slide 26: Revised segmentation of business units
Revised segmentation of business units Old segmentation New segmentation Transaction fees to access UK Consumer UK Consumer Platform One (contra revenue for UK Consumer & International Consumer) International Consumer International International Trainline Partner Consumer Platform One revenues Solut