Automation giant struggles with economic turbulence and intensifying competition, as new leadership prepares to chart a course beyond the era of ‘easy’ automation
Kuka, one of the world’s oldest robotics and automation companies, established in Germany in 1898, has reported a sharp decline in both revenue and earnings for 2024, marking a turbulent year of transition.
The Augsburg-based firm closed the year with a €43.5 million net loss (listed in the annual report as “earnings after taxes and after loss from discontinued operations”), which is down from a €85.6 million profit in 2023, even as it reported record-high free cash flow and a growing backlog of orders.
The company also confirmed a leadership change, with CEO Peter Mohnen stepping down, to be replaced by Christoph Schell. Mohnen’s departure caps a year in which Kuka launched a new digital division, faced tough economic conditions, and found itself under intensifying competitive pressure in core markets like intralogistics and automotive automation. [Read more…] about Kuka sinks into the red with €43.5 million loss, triggering leadership change and strategic shift