Trainline Plc (TNLIF) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. Thank you for joining us today for our half-year results presentation. I'm Jody Ford, CEO of Trainline, and I'm joined by Pete Wood, our CFO. Let's first go through the disclaimer. Onto the agenda for today. I'll give an introduction, briefly discussing the progress we've made in the first half of the year. Pete will talk you through our financial performance. I'll then update you on how we're progressing against our strategic priorities. After that, we'll hand back to the operator for questions. The group delivered a strong financial performance in the first half, with net ticket sales up 23% and revenue up 19%. Together with the benefits of operating leverage, this drove a 26% increase in adjusted EBITDA, while our operating free cash flow increased by 166%. Our performance reflected the strong progress we're making against our strategic priorities. In the UK, we continue to digitise the commuter experience, growing our share of the commuter segment to 22%. While in international, we further positioned ourselves as the aggregator in liberalized European rail markets, with combined net ticket sales across Spain and Italy up 50%, partly offset by slower web sales in the heart. I'm delighted to add that we are now Europe's number one most downloaded rail travel app. As a reminder, Train Learning is a tech company with a clear purpose to empower people to make greener travel choices. We seek to do that by building the world's leading rail platform, which makes it much easier for people to travel by train. In addition, we champion the environmental benefits of rail, highlighting how it generates significantly lower emissions than driving or flying. Our approach is to inspire pride in those that take positive action. We launched I Came By Train in...