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3d ago

Trainline Reports Record Profits as UK Government Ticketing Rival Looms

The company's £86 million operating profit marks a 56% increase, but concerns over a state-backed competitor have driven shares down by more than one-third this year.

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Trainline’s profits are currently booming but the spectre of the state-run competitor is hanging over the business
Profits at Trainline are up by 56 per cent to £89m in the year ending February 2025 (Photo: Yui Mok/PA Wire)

Overview

  • Trainline achieved record operating profits of £86 million for the year ending February 28, a 56% increase from the previous year, driven by digital ticket growth and fewer rail strikes.
  • Ticket sales revenue grew 12% year-on-year to £5.9 billion, with UK sales up 13% and international sales rising 4%, including a 41% surge in Spain.
  • Despite strong financial performance, Trainline's stock has dropped over 33% in 2025 due to fears of competition from the UK Government's proposed state-backed Great British Railways ticketing platform.
  • The company is engaging with the Labour Party to advocate for fair competition safeguards, with a public consultation on the GBR platform expected to conclude by early autumn.
  • Trainline projects significant European expansion, aiming for £10.2 billion in net ticket sales by 2030, leveraging its success in Spain as a model for growth.