Universal Robots Posts Record Revenue Despite Global Uncertainty

Odense, Denmark – Universal Robots, the Danish collaborative robot (cobot) company, has reported Q4 revenue of US$ 85 million, bringing 2022 annual revenue to US$ 326 million, up 5 percent from 2021. On a constant-currency basis, growth over the year was 12 percent. Kim Andreasen, Chief Financial Officer, Universal Robots, stated: “We are proud to have continued to grow our business despite facing a difficult macroeconomic environment in 2022. We focused on those things we are able to control, and we overcame supply chain challenges to report our highest annual revenue to date.”

The demand for automation in Europe slowed in 2022 following the start of the war in Ukraine. The company’s results have also been impacted by the change in exchange rates, which created an additional headwind to growth. Despite the change in global markets, overall demand for automation is predicted to continue to grow in 2023 and beyond, driven by growing labor shortages and changing workplace expectations. The company has taken steps in 2022 to meet this growing demand.

“We invested last year in building world-class expertise in welding, palletizing, and machine tending,” said Kim Povlsen, President, Universal Robots, in response to the company’s growth. “We have also been working with our ecosystem partners to make automation easier for our customers than ever before. 2022 has been an important year for the company overall. We started construction on a new headquarters, reached our 1,000 employee milestone, and launched a ground-breaking new cobot.”

Image Source: Universal Robots

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