Overcoming global uncertainty, Universal Robots bucked the trend with record revenues

Create Date: 2024-8-30 12:03:23|Source: Universal Robots/UR

Universal Robots (Universal Robots), a Denmark cobot manufacturer, announced fourth-quarter 2022 revenue of $85 million, bringing its annual revenue in 2022 to $326 million, up 5% from 2021. At constant exchange rates, the annual growth rate was 12 per cent.

Kim Andreasen, Chief Financial Officer of Universal Robots, said: "We are proud that in 2022, our business continued to grow despite a difficult macroeconomic environment. We focused on what we could control, overcame supply chain challenges, and achieved our highest annual revenue to date.
Overcoming global uncertainty, Universal Robots bucked the trend with record revenues
[Kim Andreasen, Chief Financial Officer, Universal Robots]

The geopolitical situation in Europe in 2022 has led to a slowdown in demand for automation in Europe, and exchange rate fluctuations have also brought another challenge to business growth.

Committed to meeting the growing demand

Despite changes in the global market, overall, increasing labor shortages and new expectations of the occupational environment are expected to continue to drive demand for automation in 2023 and beyond.

In 2022, Universal Robots took a number of steps to meet this growing demand. Kim Povlsen, President of Universal Robots, said: "We invested in welding, palletizing and machine care last year to build our top expertise in these areas. We've also been working with ecosystem partners to make automation easier than ever for our customers. 2022 was a very important year for Universal Robots in every way. During the year, we began construction of a new headquarters, surpassed the 1,000 employee mark, and launched a groundbreaking new collaborative robot, the UR20.
Overcoming global uncertainty, Universal Robots bucked the trend with record revenues
[Kim Povlsen, President of Universal Robots]
Overcoming global uncertainty, Universal Robots bucked the trend with record revenues
[Welding scene: Universal Robots' cobot UR10e for plasma cutting]
Overcoming global uncertainty, Universal Robots bucked the trend with record revenues
[Universal Robots' first next-generation product, UR20, redefines collaborative robots]

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