Universal Robots reports a record annual revenue of over $300 million

Material handling (Photo: Universal Robots)

Quality Control (Photo: Universal Robots)

Universal Robots (UR), the Danish pioneer of collaborative lightweight robots, reports a record annual revenue of USD 311 million. This represents a revenue growth of 41 percent compared to the previous year and a total of 23 percent more than before the pandemic in 2019.

Breaking records – also in our own production

For Kim Povlsen, the company's President, this is no surprise: "Universal Robots has had a fantastic year. In a company like ours, which manufactures demanding hardware to the highest quality standards, such growth can only succeed if everyone involved is fully committed. Our production team in Denmark, for example, produced 400 cobots in just one week during the fourth quarter, setting internal records. And our supply chain experts also managed to keep our business running smoothly despite global supply issues."

The automation market is booming

The revenue in the fourth quarter was already record-breaking: it increased by 22 percent compared to the same quarter last year and by 28 percent compared to the fourth quarter of 2019. "Our growth is driven by several long-term trends. These include the ongoing labor shortage and the increasing awareness that automation is the key to higher productivity. We are not only gaining new customers but also receiving repeat orders from satisfied existing customers who want to expand the use of cobots in their operations," summarizes Kim Povlsen.

Growth trajectory continues in 2022

Universal Robots also expects strong growth in 2022, as Kim Povlsen explains: "The demand for collaborative robots will continue to rise, and our unique ecosystem is growing with it. Through collaboration with more than 1,000 independent partners – including component manufacturers, kits and application providers, certified integrators, and distributors – we are creating innovative collaboration solutions that will help us achieve further growth."