Universal Robots reports record revenue of $311 million

Universal Robots, the Danish producer of collaborative robots, has reported record annual revenue of $311 million, 41 percent up on 2020 and 23 percent up on pre-pandemic results in 2019.

Kim Povlsen, the company’s president, says: “Universal Robots has had a great year. In a company like ours, which manufactures sophisticated hardware to high quality standards, this sort of growth requires tremendous commitment from all involved.

“Our production team in Denmark has broken internal records for the number of cobots built, producing 400 cobots in a single week in Q4. Our supply chain experts have worked hard to keep our business running smoothly despite global supply challenges.”

Quarter 4 revenue also broke records, up 22 percent on Q4 2020 and 28 percent up on Q4 2019.

Povlsen says: “Our growth is driven by several long-term trends, including workforce shortages and growing awareness of the contribution automation can make to productivity.

“As well as reaching new consumers, we see repeat business from manufacturers extending their use of cobots after seeing the impact of the technology.”

The company expects “strong growth” to continue in 2022.

Povlsen adds: “Demand for collaborative robots is set to grow and our unique ecosystem is growing with it.

“Working with more than 1,000 independent companies – including component, kit and application manufacturers, certified integrators and distributors – collaborative innovation is what sets our growth journey apart.”