We are happy to announce the appointment of Andrew Campbell, formerly Global MD, as our new CEO, and a revenue growth of 21% to reach £1m EBITDA milestone.
Mr Campbell is the company’s second CEO, after Founder and President Christian Arno moved into his new role early last year. Paul Gregory, formerly CEO of Wood MacKenzie, remains Chairman.
“Paul and I are delighted Andrew has agreed to become our CEO at such an exciting time for the business,” commented Christian Arno, “Andrew has been running the business day-to-day for over six years now, and so this promotion will not change internal management significantly. But from an external perspective, it makes clear who is our executive leader and broadens Andrew’s remit. We are confident that Lingo24 will go from strength to strength under Andrew’s leadership.”
New CEO, Andrew Campbell, said “With many of the building blocks in place for the business to kick on from here, I am excited to be leading Lingo24 through the next phase of growth.”
Listen to Andrew speaking with the BBC about his appointment and Lingo24’s results and plans for the future:
Beyond the 21% growth in revenue and EBITDA numbers, in 2018 Lingo24 saw:
- Net retention up to 115%;
- An increase in the number of accounts spending more than £500k in the year;
- Operational improvements meaning that almost double the workload was completed in 2018 compared to three years earlier with no increase in headcount;
- Customer satisfaction scores at a record high, well above industry standards;
- Increased revenue in areas such as consultancy and engineering projects working with large-scale multilingual data sets, demonstrating the company’s value beyond just translation.
Lingo24’s customer base is truly global, with only 20% of revenue coming from their local UK-market, and more than 40% from North America. Well known clients include Virgin, WPP Group, Edrington and Groupon.
In technology, among other exciting developments in 2018, Lingo24 introduced Adaptive Machine Translation into its Coach tool. This has the benefit of reducing customer costs , which has resulted in stronger adoption rate among translators, positive feedback from them, and increased efficiency in completing translation tasks.
Lingo24 also developed PEMT (Post-Edited Machine Translation) Automation Components – giving the company the ability to use Artificial Intelligence to classify projects as a good fit of PEMT and automatically apply the appropriate engine. This is an important building block as the company seeks to automate more and more of its workflow.
Here’s a round-up of coverage of Lingo24’s new CEO and 2018 success:
Daily Business Group: Campbell installed as CEO at translation firm Lingo24
Herald Scotsman: Translation firm shakes up senior team as profits hit landmark tally