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Trainline first half revenue falls 76%
StockMarketWire.com
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Rail and coach ticketing provider Trainline saw its revenue fall 76% in the first six months of the year as ticket sales dropped due to the Covid-19 lockdown, according to its half-year results.
It posted a £31 million revenue in the first half, significantly down from £129 million in the same period in 2019. The company had adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) loss of £16 million, while its net debt rose to £166 million in the first half from £59 million in the same period in 2019.
Net ticket sales dropped by 81% to £358 million in the first half. However, the group said it was confident it could navigate an extended downturn from a second UK lockdown with liquidity headroom of £162 million and ability to scale back monthly cash outflows where necessary.
Trainline said while trading conditions remain challenging, it is well positioned to return to growth when the market recovers.
At 9:29am: (LON:TRN) Trainline PLC share price was +9.3p at 282.3p
Story provided by StockMarketWire.com
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