Universal Robots Tops $300M, Sets Revenue Record Despite Supply Chain Challenges
Universal Robots, the Danish producer of collaborative robots, has reported record annual revenue of $311M, 41% up on 2020 and 23% up on pre- pandemic results in 2019.
Kim Povlsen -- Universal Robots President
The company's President, Kim Povlsen said: "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% on Q4 2020 and 28% up on Q4 2019. Kim Povlsen continued: "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, as Kim Povlsen explained: "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."
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