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

  FY 2019A FY 2020F FY 2021F
Net ticket sales (£m)      
UK Consumer 1,648 2,038 2,413
UK T4B 1,198 1,207 1,248
Total UK 2,846 3,245 3,660
International 349 509 754
Total Group 3,194 3,754 4,414
Revenue (£m)      
UK Consumer 137 176 206
UK T4B 58 58 60
Total UK 195 234 266
International 14 27 41
Total Group 210 261 307
Adjusted EBITDA (£m)1 53 83 105

1 Adjusted EBITDA excludes exceptional items and share based payment charges

Last updated on 05 March 2020. Based on the 6 analysts who have confirmed numbers post the H1 2020 trading update.

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
JP Morgan Marcus Diebel
Morgan Stanley Patrick Wellington
Numis Gareth Davies
Panmure Gordon Lena Thakkar
Peel Hunt James Lockyer