Babbel increases turnover to around 124 million euros

Although revenue in the 2019 financial year rose by 16%, growth of 35% to 39% had been planned.

In the 2019 financial year, the language learning app Babbel reported a turnover of 123.9 million euros. This represents an increase of 16 percent compared to the previous year. Germany's share of total revenue fell by one percentage point to 29 percent. At the same time, however, sales in Germany also increased by ten percent. "Babbel thus maintained its position on the domestic market and was able to expand it even further," the company report states.

However, Babbel was unable to achieve its own targets. The company had actually targeted an increase in revenue of 35 to 39 percent for the 2019 financial year. According to the annual report, Babbel made a profit of just under 600,000 euros compared to the previous year. The Berlin-based company considers the risks of the coronavirus pandemic to be moderate. For 2020, it expects growth of eight to 18 percent.

Babbel employs 750 people in offices in Berlin and New York. The company was founded in 2007.