Based on our discussions with the sell-side analysts who publish research on Trainline shares, our understanding of current market consensus is as follows:

  FY2022A FY2023F FY2024F
Net ticket sales (£m)      
UK Consumer 1,812 2,998 3,267
Trainline Partner Solutions 290 570 665
Total UK 2,102 3,567 3,932
International 418 964 1,387
Total Group 2,520 4,531 5,319
Revenue (£m)      
UK Consumer 153 249 269
Trainline Partner Solutions 15 27 31
Total UK 168 276 301
International 21 52 73
Total Group 189 328 374

Adjusted EBITDA (£m)1
Total Group




1 Adjusted EBITDA excludes exceptional items and share-based payment charges.

Last updated 8 August 2022. Based on the nine analysts that have published numbers post the trading update on 6 July 2022.

The financial forecasts presented above have not been prepared by and are not endorsed in any way by Trainline plc (“Trainline”). Trainline has not verified or commented on any individual estimates, nor does it intend to do so in the future. Trainline assumes no responsibility to update, revise or otherwise comment on any of the information contained in these forecasts. It should be noted that financial forecasts are, by definition, forward looking, and are therefore subject to various risks and uncertainties which are subject to change at any time.

Analysts covering Trainline

Sell-side house Analyst
Barclays Andrew Ross
Berenberg Owen Shirley
Deutsche Bank Simon Davies
JP Morgan Marcus Diebel
Liberum Ciaran Donnelly
Morgan Stanley Miriam Adisa, Navina Rajan
Numis Gareth Davies
Panmure Gordon Alex Chatterton
Peel Hunt James Lockyer
Stifel Mark Irvine-Fortescue
UBS Ivar Billfalk-Kelly