Trainline has reached a new record operating profit, which increased by 54% in the year to 28 February to £86m.

The company, which runs Europe’s most downloaded rail app, saw its group net sales increase by 12% in the period to £5.9bn, while its revenue jumped by 12% to £442m.

Furthermore, its adjusted EBITDA increased by 30% to £159m, which Trainline said reflected operating leverage and cost management.

In this period, its earnings per share jumped by 80% to 13.1 pence, while its adjusted basic earnings per share increased to 19.2 pence, which is a 56% year-on-year jump.

Chief executive officer at Trainline, Jody Ford, said: "Our sustained investment in tech innovation over the last three decades is delivering for customers, driving industry growth and is reflected in our performance with net ticket sales up 12% year-on-year to £6bn. Spain offers a powerful blueprint for Europe, where net ticket sales have nearly tripled in two years.”

Looking ahead, Trainline said there are "clear signs of new entrant carrier competition" in Europe, with high-speed routes across France, Italy and Spain, worth €12bn, set to be completed by 2030.

However, its UK commission rate had dropped as of last month, and as a result, it expects revenue growth to be slower than net ticket sales in the 2026 financial year.

Despite this, if its adjusted EBITDA remains in line with its net ticket sales, Trainline said its EBITDA as a percentage of net sales is expected to be in the top end of its previous guidance range.

Investment director at AJ Bell, Russ Mould, added: "The Trainline growth story was chugging along nicely until it was derailed by the announcement of a long-feared state-backed alternative ticketing platform. The messages coming over the PA system to shareholders alongside full year results have, in the manner of a train manager revealing bad news on a protracted train journey, generated further gloom.

"Given the strength of Trainline’s brand, it may be able to stave off some of the impacts from a commission-free, state-backed rival, but what may really hurt is the reduction in complexity of the whole ticketing system in UK rail. If delivered, this would reduce one of Trainline’s key appeals to travellers – which is helping them navigate complexity and get the best ticket prices available."

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