Universal Robots reports record annual revenue of over $300m

record annual revenue

Universal Robots Asia Pacific regional president, James McKew.

Universal Robots, the Danish producer of collaborative robots (cobots), has reported record annual revenue of $436.30 million, 41 per cent up on 2020 and 23 per cent up on pre-pandemic results in 2019.  

“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,” Universal Robots president Kim Povlsen said.

“Our production team in Denmark has broken internal records for the number of cobots built, producing 400 cobots in a single week in Quarter 4 (Q4). Our supply chain experts have worked hard to keep our business running smoothly despite global supply challenges.” 

record annual revenue
Universal Robots president Kim Povlsen.

Q4 revenue also broke records, up 22 per cent on Q4 2020 and 28 per cent up on Q4 2019. 

“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,” Povlsen said. 

Speaking to the reflection of the international performance on local shores, regional president for Universal Robots Asia Pacific, James McKew says that the results showcase the market’s appetite for automation.

“The increased and sustained demand are underpinned in our local markets too where companies both big and small are embracing collaborative automation,” McKew said. 

The company expects strong growth to continue in 2022, as Kim Povlsen explained: “Demand for cobots 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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