Business Irish

Sunday 16 June 2019

On track: Clare Gilmartin in the driving seat for Trainline flotation

Clare Gilmartin. Photo: Kieran Harnett
Clare Gilmartin. Photo: Kieran Harnett
Ellie Donnelly

Ellie Donnelly

Dubliner Clare Gilmartin will preside over one of Europe's biggest stock market flotations this year as head of online rail and travel booking business Trainline, which confirmed plans to list shares on the London stock market yesterday. A deal could value the business at £1.5bn.

Founded more than 20 years ago, the UK-based company sells tickets for rail and coach companies in 45 countries across Europe and Asia through its website and mobile app. Trainline generated net ticket sales of £3.2bn (€3.6bn) in the 2019 fiscal year.

"Our aim is simple: to make rail and coach travel easier for millions of people, saving our customers money, time and hassle - and thereby encouraging more environmentally-sustainable travel choices," Ms Gilmartin said.

The time was right to list as business seeks to benefit from government drives to increase train travel, she said.

More than 60pc of tickets in the five biggest European rail markets are still sold offline, she said, showing the potential for further growth.

The business employs more than 600 people in London, Paris and Edinburgh, and has been owned by private equity giant KKR since 2015. It intends to create a free float of 25pc of issued share capital to raise around £50m (€57m) through an issue of new shares and a larger but undisclosed sum from the sale of shares.

Additional reporting by Reuters

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