Trainline could survive "at least 12 months" with no revenue after 24% increase last year

Travel company Trainline has announced that it has seen a 24 per cent revenue increase across the past year.

Trainline, which has headquarters in London, grew its revenue from £210m in 2019 to £261m in 2020, which it says would enable the group to operate with no income for a year.

It said that the increase was due to net ticket sales growth, which rose 17 per cent, revenue optimisation, and the launch of new ancillary revenue streams.

Since the end of the company’s financial period, travel has been restricted in the UK, affecting revenue streams for transport companies. .

Trainline commented: “Though the scenario is considered to be very unlikely, as part of the going concern assessment the group prepared a cash flow forecast which considered the group’s ongoing cash outflows and assumed no revenue inflows.

“The analysis confirmed the group’s current liquidity position would enable the group to operate with no cash inflows for a period of at least 12 months from the date of signing these financial statements.”

Clare Gilmartin, CEO of Trainline, said: “We are pleased to have delivered a strong performance over this past year, in particular to have exceeded expectations set at IPO for FY20 revenue growth and EBITDA.

“We have also made significant progress against our strategic priorities.

“In recent weeks we have seen disruption to our business due to COVID-19, and are grateful to our frontline staff in particular for helping our customers over this period.

“We remain confident that the long-term growth opportunity for our business remains unchanged, and are committed to our long term growth plans.”

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