Video Narrator
Voice-over
Replay available
Trainline Plc (OTC: TNLIF) Q2 2026 earnings conference call, held 2025-11-05. Replay captured from the company's public earnings webcast.

Voice-over
Analyst, Investec
Chief Executive Officer
Chief Financial Officer
Analyst, Barclays
Analyst, Peel Hunt
Analyst, Deutsche Neumis
Analyst, Morgan Stanley
Hello everyone and welcome to the TrainLine HY2026 results. My name is Emily and I'll be coordinating your call today. After the presentation you will have the opportunity to ask any questions which you can do so by pressing start followed by the number one on your telephone keypad. I will now hand over to CEO Jody Ford to begin. Please go ahead. 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. I'll recap on the opportunity ahead and update on the regulatory backdrop in the UK. Pete will talk you through our financial performance. I'll then update you on how we're progressing against our strategic priorities and finish with an overview of our digital pay-as-you-go trial, which recently launched in the UK. After that, we'll hand back to the operator for questions. As a reminder, we are Europe's number one rail app, delivering a market-leading user experience for our customers. We aggregate all major carriers and fares, offering a comprehensive range of value-saving products and features. We focus on making the booking experience as seamless as possible. And we use machine learning and AI to supercharge the experience to get customers from A to B. It's our combination of value, convenience and innovation that sets us apart. And that is evident in our scale today with far more app downloads than any of our peers. The strength of our customer proposition is reflected across the group with all three of our business units leaders in their respective markets. In UK Consumer, we have the number one travel app...